^
Keep Dallas Observer Free
4
| News |

An Over-Served, Highly Questionable, Ponzi Schemed Monday Morning Grab Bag

According to the University of Texas at Dallas's own press release, more than 80 percent of students surveyed want the school to sell beer and wine at The PUB in the student union -- which seems shockingly low, you ask me. Nonetheless, that's why the school has asked Chartwells, which handles its dining services, to apply for a liquor license from the Texas Alcoholic Beverage Commission. Best sentence from the press release: "Last March, a subcommittee of Student Government studied the issue in depth and sent a report to President David E. Daniel with a recommendation to serve beer and wine in the Pub." It's like reading The Onion ...

One year ago, the Kentucky Historical Society paid Oak Lawn-based Heritage Auction Galleries $19,000 for a pair of earrings that, according to Heritage, were once "owned by Mary Todd Lincoln." But yesterday, the Lexington Herald-Leader ran a piece that said some historians ain't so sure about that. That may have to do with the fact that one of the earrings' previous owners also "claimed to have skin shed by the serpent in the Garden of Eden." Which is ridiculous. Everyone knows Harold Simmons has that ...

And the Securities and Exchange Commission has taken a Collin County man to federal court in Dallas, claiming that Derek Nelson's been operating a Ponzi scheme based in Dallas that bilked investors out of some $25 million. How'd he do it? Simple enough: Nelson, says the SEC, took their money by promising to buy "real property at deeply discounted values, and that the properties would then be improved, leased, and resold at a profit." Instead, he used the dough for Ponzi payments to other investors while stashing $2.6 million in his bank account and using $1 million as a down payment on this 8,359 square foot, $2.5 million home in Fairview. What a man'll allegedly do for a wine cellar and a fitness center on three countryside acres.

I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Dallas and help keep the future of Dallas Observer free.

Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the Observer community and help support independent local journalism in Dallas.

 

Join the Observer community and help support independent local journalism in Dallas.