By Dennis Seid/NEMS Daily Journal
TUPELO – Everything inside the Stanford Financial office in downtown Tupelo now belongs to Dennis Meyer, except for two copiers and a Pitney-Bowes postage meter.
Paintings, computers, flat-screen TVs, furniture, vases and other accessories, stainless steel appliances – even a bronzed Stanford eagle statue – belong to Meyer, president and owner of Office Liquidators in Lakewood, Colo.
“This is what we would call a law firm’s office,” said Meyer, eyeing the high end Dar-Ran Furniture desks, credenzas, chairs and tables made of mahogany and the Hickory Leather Co. office chairs. “It’s extremely well appointed.”
Stanford’s offices across the country have been closed since mid-February. Federal authorities charged the company with orchestrating a massive Ponzi scheme that cost investors billions of dollars.
A federal judge appointed a receiver, Ralph Janvey of Dallas, to oversee the company’s assets.
Now Janvey is looking to sell some of those assets to recoup money investors lost through Stanford. An attorney from Janvey’s law firm was in the Stanford office in Tupelo but declined to comment.
Meyer successfully bid for the contents of the Denver and Tupelo offices – he’ll also be bidding for others – and hopes to get as much money as he can.
“It’s what we do,” he said.
Meyer on Thursday was taking inventory of the plush Tupelo location, which also housed offices for Stanford Chief Financial Officer James Davis and Chief Investment Officer Laura Pendergest-Holt.
Davis and Pendergest-Holt are originally from Baldwyn.
Next week, Meyer will pack the contents of the Tupelo office and ship them back to his business outside Denver, putting the office furniture on sale at his warehouse and placing artwork and other unique items online.
“The MSRP on one of these desks would be about $3,000,” Meyer said. “They probably paid half that since they bought quite a few of them. Then some of the offices have two credenzas. So with everything in them, we’re talking they probably spent $10,000 to $15,000 per office.”
Except for files, Davis’ corner office upstairs had all of its contents. Authorities haven’t allowed employees back in.
A pair of reading glasses lay in Davis’ desk drawer, along with business cards, spare change, mints and reading material, including a Fortune 400 issue and a copy of Haute Living magazine.
There were even two receipts from Best Buy totaling nearly $3,200 for three flat screens. There wasn’t a receipt for the 50-inch Pioneer plasma TV in his office.
“They spent a little more in this office,” Meyer said with a smile.
Pendergest-Holt’s office wasn’t much different from the other offices, except it also had a 50-inch plasma TV, too.
Her office, like all the others, have been left like they were, except for the files that have been removed.
Inside her desk were several copies of Southern Living magazine. Tubes of lipstick, including Chanel Temptress 67 and Mary Kay Crimson were in a desk drawer.
The books on her credenza covered a wide range of topics. Titles included “Mathematical Statistics,” “Laws of Teamwork,” “The Faith of George W. Bush,” “Straight to the Top and Beyond,” “How to Make Money in Stocks” and “Bullies, Tyrants and Impossible People.”
Not making the trip to Colorado are the copier and postage meter, which were being leased by the office.
Meyer isn’t sure what he’ll do with everything he finds, but he figures some items might fit in the “unique items” category that will go online.
Office Liquidators has been in business since 1985. The company has successfully bid on the seized assets of several companies, and Stanford’s is just another company.
“I don’t know a lot about the case or what happened,” he said. “But I’ve been doing this 24 years, and of course I know that a lot of lives and businesses have been affected by something like this.
“But as a company, we kind of see ourselves as providing a service.”
Interested in buying?
Email Dennis Meyer at email@example.com. Meyer said only serious inquiries will be considered. You can also visit officeliquidators.com.