Kruse Sues for Non-payment

Auburn, IN – December 28, 2009 — Kruse International President Dean Kruse announced today that the first round of suits were filed as part of the effort to collect the $6.7 million accounts receivable that customers owe Kruse International for non-payment. Some of the suits include:

Rodney Hogan of Playtime Ground Equipment, who is the same person who bought all the items in the National Automotive and Truck Museum of the United States (NATMUS) and didn’t pay for any of them. NATMUS sued him. At Auburn Spring 2008, he purchased more than a million in cars and did not pay for any of the purchases, and Kruse had to resell the cars and lost $670,000.

Chip Gerst and So Cal Collectibles: Gerst purchase roughly $350,000 at the 2008 Auburn Sale and over a period of time paid the amount down to $187,781.76, but then quit paying. He later fraudulently obtained titles, sold the cars, and kept the money.

Roger Brommont borrowed $50,000 from Kruse for the 2006 Indianapolis Auction. He then refused to pay and still has not paid despite numerous attempts to collect.

David Jones purchased nearly $550,000 worth of antique tractors, then refused to pay. Kruse later had to resell the tractors and took a large loss.

Jimmy Ray Zielke came to Auburn and purchased nearly $1,500,000 worth of cars and did not pay for a single one, claiming that his funds were tied up.

Ward Leber Child Safety Network: Kruse advanced Leber and Child safety $60,000 to finish off his show truck. Leber was to then resell the truck and pay off Kruse, but it never happened.

More suits to follow soon.

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