Category Archives: Cornerstone Bank Case

In order to prolong the inevitable, Hoppe filed a counterclaim against Cornerstone. The implications against the bank border on absurd.

The certificates below were issued, and used for collateral to the bank. The stock certificate for the Veterans Memorial Museum was issued on 10th of June 2009. One week after the loan of June 3rd 2009 was issued using the shares of stock as collateral.

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The case file included the following financial statements to showcase Fred Hoppe’s assets. Values are grossly inflated, such as the 50-man bronze sculpture that is housed in the Branson, Mo., Veterans Memorial Museum. The sculpture’s value is listed at approximately $19 million. Three weeks prior to the date of the financial statement, the sculpture was listed in Gary Hendershott’s Catalogs 145, 150 and 152 for $9 million and less. Hendershott is a dealer in military collectibles and antiques.

In addition, Hoppe does not list all the investors he is indebted to on the financial statement. He lists four investors, however, there were actually several more we know of whom he solicited funds from.