A local bank has sued an Allen County woman and her husband, accusing her of stealing tens of thousands of dollars so they could stay in their foreclosed home.
A lawsuit filed earlier this month in Allen Superior Court by Tower Bank names Kandi and William Biggins, along with Bradford Pepple and IAB Bank as the trust of the Bradford Pepple Roth IRA as defendants.
The civil lawsuit accuses Kandi Biggins of conversion and theft. William Biggins is accused of receiving stolen property. Pepple and the IRA fund are accused of holding onto money Tower Bank alleges is rightfully theirs, according to court documents.
According to court documents, a Spencerville home owned by the Bigginses was the subject of a foreclosure lawsuit in April 2012 and formally foreclosed on in May.
In September, the property was sold at a sheriff’s sale to Pepple for a bid of $157,501, court records say.
A few days later, Pepple sued the Bigginses, trying to evict them from the home.
But Tower Bank alleges that the Bigginses came up with money to repurchase their home the same day the eviction case was scheduled for hearing – specifically a check for $175,000 to IAB Financial on Dec. 18 for a down payment.
They paid the money, and the eviction case was dismissed, according to court document.
According to Tower Bank, Kandi Biggins was an employee at the bank and used that position to obtain cashier’s checks to misappropriate the money used to put a down payment on the home, pay the closing costs, and other items, according to court documents.
Tower Bank is asking for the $182,766 officials allege Kandi Biggins took, as well as $548,298 in damages.
Through its attorneys, the bank is asking for a judge to force Pepple to give the money back to the bank, and to void the contract outlining the resale of the house to the Bigginses, according to court documents.
Messages left at Pepple’s home and the Bigginses’ home were unreturned Monday. Tower Bank officials declined to comment on personnel matters or pending litigation.