Ferguson forfeits cash, property and equipment after conviction - DC News FOX 5 DC WTTG

Ferguson forfeits cash, property and equipment after conviction

Posted: Updated:
Bobby Ferguson outside of federal court after being convicted on public corruption charges.  (Credit: Fox 2 News) Bobby Ferguson outside of federal court after being convicted on public corruption charges. (Credit: Fox 2 News)
DETROIT (WJBK) -

Taxpayers this week got an unexpected dividend from the conviction of Bobby Ferguson on racketeering charges -- cash, property and equipment worth up to $1 million.

Nearly a year after the feds indicted Ferguson on public corruption charges in 2010, agents swarmed over his property and seized more than a dozen pieces of heavy equipment.  Other searches turned up more than $460,000 in cash.

While the jury deliberated, the feds and Ferguson signed a forfeiture stipulation, a document in which Ferguson agreed to give up his equipment, cash and property if he got convicted.

On Monday, Ferguson got the bad news.  A jury found him guilty of nine counts of public corruption, including bribery, extortion and racketeering.

Soon the government will put up for sale the home that Ferguson's family has called home for years.

The feds are also expected to sell Ferguson's condo at Riverfront Towers in downtown Detroit.

His wife declined comment.

While it's not up to prosecutors where the money from Ferguson's property will end up, there is a chance it could go to the city he cheated for so many years.

If it ends up going to the federal government, the proceeds should be enough to cover the taxpayers' tab for the lawyers that defended Kwame and Bernard Kilpatrick.

Ferguson's wife said she doesn't know what she will do when she has to leave her home.  For now, she is just trying to process the emotions from a week that has to be the worst one in this family's lives.

  • Local NewsLocal NewsMore>>

  • Treasury Secretary visiting Detroit on jobs push

    Treasury Secretary visiting Detroit on jobs push

    Thursday, April 24 2014 10:24 AM EDT2014-04-24 14:24:09 GMT
    U.S. Treasury Secretary Jacob Lew plans to visit Detroit to explore ways to promote job creation and economic growth.  Lew on Thursday evening plans to convene a meeting with foundation leaders to discuss ways the nonprofit sector can help.
    U.S. Treasury Secretary Jacob Lew plans to visit Detroit to explore ways to promote job creation and economic growth.  Lew on Thursday evening plans to convene a meeting with foundation leaders to discuss ways the nonprofit sector can help.
  • General Motors 1Q profit dragged down by recalls

    General Motors 1Q profit dragged down by recalls

    Thursday, April 24 2014 8:26 AM EDT2014-04-24 12:26:35 GMT
    General Motors on Thursday reported its worst quarterly performance in more than four years as the costs of a series of recalls dragged down earnings.
    General Motors on Thursday reported its worst quarterly performance in more than four years as the costs of a series of recalls dragged down earnings.
  • Historic Detroit apartments to receive massive makeover

    Historic Detroit apartments to receive massive makeover

    Thursday, April 24 2014 8:11 AM EDT2014-04-24 12:11:29 GMT
    Several blighted buildings in Detroit's Midtown neighborhood will soon look like new. Groundbreaking is expected at four buildings in the Cass-Davenport Historic District, an area first developed in the early 1900s near Cass Ave. and Martin Luther King Blvd.
    Several blighted buildings in Detroit's Midtown neighborhood will soon look like new. Groundbreaking is expected at four buildings in the Cass-Davenport Historic District, an area first developed in the early 1900s near Cass Ave. and Martin Luther King Blvd.
Powered by WorldNow

WTTG FOX 5 & myfoxdc
5151 Wisconsin Ave. NW
Washington, DC 20016
Main Number: (202) 244-5151
Newsroom: (202) 895-3000
fox5tips@wttg.com

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices