Maynardville property sale to benefit money laundering victims

MARYNARDVILLE (WATE) - The U.S. Attorney's Office says property in Maynardville will be sold to recover funds for the victims of a woman's counterfeit securities and money laundering scheme.

Joan Black, of Maynardville, is serving a 30-month prison sentence. She pleaded guilty to soliciting investors to purchase annuities through her company, Benefit Capital, Inc.

The U.S. Attorney's Office got a writ of execution directing the U.S. Marshal to sell the vacant property at 129 Remington Drive, Lot 18, in the Twisted Gables Subdivision.

The net proceeds of the sale will be paid through the court to Black's victims. 

Black was paid approximately $673,500 by five investors. She deposited the funds into a bank account she controlled and used them for herself.

The court sentenced her to pay restitution to her victims.