One man’s sizable jewelry payment was enough to cover back taxes he owed in 1988.
Louis Poetter owed Douglas County more than $100,000 in taxes, Director of Purchasing Bill Peacock told Channel 2 Action News.
Poetter founded Anneewakee Treatment Center, a psychiatric hospital that county officials questioned.
“There was controversy about the facility he was running [and] whether it was a nonprofit,” Peacock said.
But a typical I.O.U. wouldn’t do.
Instead of paying the $100,000, Poetter gave the county 46 pieces of jewelry valued at $25,000 in 1997.
The jewelry, which included 9-carat rings, stop watches and antique necklaces, were kept in baggies and held in a safe in the district attorney’s office. Through a court order, the county can now sell the jewelry.
Peacock is getting a second appraisal on the jewelry to sell in bulk at fair market value to an antique dealer. If Peacock can’t do that, then he’ll auction the stones online.
The profits will go into the county’s general fund.
While Poetter could pine off his jewels, Peacock told Channel 2 that form of payment wouldn’t be accepted today.
“Don’t go take grand mama’s jewelry to bring in to Douglas County.”
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