United States v. Real Prop. & Residence, No. 12-5175 (6th Cir. 2012)
Annotate this CaseIn 2008, Baniel (an LLC owned by Coffman), Coffman, and her husband Bryan obtained financing from Bank of America to purchase a yacht, giving Bank of America a secured interest. Months later, the United States filed a civil forfeiture in rem complaint against several properties, owned by Coffman and Bryan, alleged to be proceeds of fraud and money laundering. Given the pending criminal investigations, the district court immediately stayed civil forfeiture proceedings. Coffman filed a verified claim to the yacht in 2009. Coffman was acquitted in 2011, but Bryan was convicted of mail fraud, wire fraud, securities fraud, and money laundering. Payments to Bank of America have not been made since December 2009, and approximately $637,000 is owed on the note. In February 2011, Bank of America and the government filed a joint motion for interlocutory sale of the yacht. Baniel sought release of the yacht to Coffman’s custody. In February 2012, the district court ordered the interlocutory sale, denied release of the yacht to Baniel, and joined the civil action with the ongoing criminal action. Baniel and Coffman sought a stay of the sale pending appeal, which was denied by the district court. The Sixth Circuit affirmed all orders.
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.