Rockport businessman's properties for sale
The properties of a Rockport businessman have been put up for sale while federal investigators continue to probe allegations that he stole $3.8 million from a charity he had led for 17 years.
Russell “Rusty” Brace’s attorney, Peter DeTroy, told the Bangor Daily News that the sale is a step “toward the goal of restitution” for legal claims against Brace, including a lawsuit filed by the United Mid-Coast Charities, for which he served as president until August.
Among the properties up for sale is a commercial building at 21 Elm St. in Camden, which contains a business that was previously owned by Brace and was shuttered by its new owner after she said the allegations against Brace caused her to lose business.
The newspaper reported liens of up to $3.8 million have been attached to Brace’s properties as a result of a Knox County Superior Court justice’s order. If United Mid-Coast Charities is successful in its lawsuit, which is currently on hold while a federal investigation continues, the charity will receive any money from the sales after mortgage payments are completed.
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