Judge to determine if couple owes money to company
Tuesday, June 3rd 2003, 12:00 am
News On 6
A federal bankruptcy judge is deciding whether the two founders of Commercial Financial Services, a now failed Tulsa company, owe the company millions of dollars.
Attorneys for Commercial Financial Services say Bill and Kathy Bartmann owe nearly 16.5 million dollars for advances given them during the 1990's.
Judge Dana Rasure has taken the arguments under advisement and will issue a ruling later.
CFS bought debt from credit card companies and collected the money owed. The company shut down in June 1999, several months after questions emerged about its ability to collect those debts.
Bill Bartmann now faces felony conspiracy, fraud and money laundering charges related to the collapse of the company. Fellow company founder Jay Jones has already pleaded guilty to conspiracy in the company's collapse.