Heber Springs Man Allegedly Claims Legendary Gold

by George Waldon  on Monday, Jun. 6, 2011 12:00 am  

Joe Blankenship: "Let's do this deal and get everyone whole."

"I have a total of 1,018 kilos. It was sourced from the Philippines and the Congo region of Africa. It has a purity of +23 carats. It is secured in a bonded warehouse at the airport controlled by customs. The buyer will take possession there. The product is insured for full-face amount, and the buyer will have insurance getting it home. Estimated value is $42.62 million retail based on $1,373 per ounce. My contract is for a 15 percent discount, so we net $6.4 million. We need a refinery to take us out at about a 5-7.5 percent discount. That nets us $3.2 million-$4.3 million. For your effort, I'll give you $1 million....

"Let's get this thing done and put all this shit behind us. We specifically need an investor or refinery willing to buy 1,018 kilos of unregistered dore [a bar of a semi-pure gold] that is insured and stored in a bonded warehouse in Nairobi. All paperwork will be provided to make it legal to ship via commercial flight. I am doing the final testing tomorrow morning.

"Let's do this deal and get everyone whole."

Blankenship's Crumbled Real Estate Holdings

Valley Falls Manor and More

First Security Bank of Searcy sold Blankenship's famed 14,156-SF Valley Falls Estates home for $2.15 million on March 31, 2011.

The bank recovered the west Little Rock house, built but never lived in by Blankenship, and two adjoining lots as part of a $5 million foreclosure sale on Oct. 9, 2009.

Also included in that deal were eight lots in the upscale Waterview Estates residential development in west Pulaski County and a 19.4 percent stake in the 300 Third high-rise condominium project in downtown Little Rock.

First Security sold the Valley Falls lots for $230,000 each in March and July 2010 and one of the Waterview lots for $265,000 in November 2010.


Heber Springs Property

Little Rock's One Bank & Trust recovered a 1.8-acre lot in the Eagle Bay Estates neighborhood of Heber Springs in March 2011.



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