Domain broker tapped to liquidate remaining assets associated with ponzi scheme.
Monte Cahn’s RightOfTheDot will auction the remaining assets of Today’s Growth Consultant, Inc. (d/b/a the Income Store) in an auction taking place June 10.
The Income Store was a business in which people invested $50,000-$500,000 and the business promised to developed income-generating websites for them. Federal authorities say it was all a Ponzi scheme, with owner Kenneth D. Courtright paying early investors with new investor money.
The courts agreed to give some of the built websites to the defrauded investors, and now RightOfTheDot has been tapped to sell off what remains.
On June 10, bidders can bid on a single lot containing over 3,000 domains, over 200 revenue-generating websites, physical goods, trademarks, and affiliate marketing accounts.
The minimum opening bid is $2.5 million and bidders must place a $50,000 deposit.
Bidders are required to sign an NDA to view the full asset list. While some assets have been given to victims, this early court exhibit (pdf) might indicate some of the available assets.
Robert says
Scanning the PDF $2.5M seems pretty optimistic.
Andrew Allemann says
It seems that a lot of the value is in the operating websites. A press release states that the sites generated $1.2M in revenue last year under the receivership’s management. Of course, potential bidders would want to dig into how that revenue was generated.
https://www.businesswire.com/news/home/20210526006007/en/Assets-of-The-Income-Store-to-be-Auctioned-by-RightOfTheDot-LLC
Steve says
Since the domains are no better than hand-regs, to get anywhere near the min bid, the total income better be rock-solid.
Andrew Allemann says
Just to re-iterate, this is not the full list of domains the winner will get. This is just one early list the receiver submitted to the court. Bidders will want to get the full list of assets from Monte.
Adam says
Didn’t scan it all but some of the names in that list I doubt were part of this like buydomains.com and example.com
Andrew Allemann says
yeah, noticed example.com. This was an initial list the receiver used, so please get the full list from Monte if you are interested in bidding.