The federal judge overseeing the liquidation of the assets of Paul Greenwood as part of the civil securities fraud case against the former North Salem supervisor has approved an auction of equipment at the Greenwoods’ pony farm in Southeast and North Salem in July.
The auction by Roy Teitsworth, Inc. Professional Auctioneers will take place on July 7 or July 22 at Grand Central Farm on Dingle Ridge Road. Brick Kane, who is working on the Greenwood case for the court-appointed receiver, Robb Evans, said the equipment to be sold is not necessary to the running of the farm. The receiver has been selling the ponies as part of its effort to wrap up operations and sell the farm but there are about 21 left there, Kane said.
In 2009 the farm, run by Greenwood’s wife Robin, had more than 90 ponies. Robin Greenwood has asserted in court that she owns some of the horses and they should not be sold to repay the investors defrauded by her husband.
Greenwood, who was arrested in February 2009, pleaded guilty to criminal securities fraud charges but has yet to be sentenced. His business partner, Stephen Walsh, has pleaded not guilty.