The first photo is of the Veteran’s Memorial 50-man bronze sculpture of soldiers storming a beach in World War II. Below the sculpture is the financial statement from the court record showing the sculptures valued at $19,120,000. Under the financial statement, which was submitted June 3, 2009, is the Gary Hendershott Catalog 145 that shows the 50-man valued at $9,500,000.
The 50-man sculpture and additional sculptures in the Veteran’s Memorial Museum total $10,592,500 in the Hendershott Catalog dated May 12, 2009, three weeks prior to the financial statement in the court record.
In the June 3, 2009 Cornerstone Bank Financial Statement below, the values for a duplicate set of four sculptures for the National Freedom Museum in Pigeon Forge and Veteran’s Memorial Museum in Branson, Mo., (Pigeon Forge closed in 2007) total $8,539,000 and $19,120,000, respectively. The Branson museum’s total includes the 50-man sculpture. The four sculptures are: a WWI soldier, WWII Infantry men, WWII bust of President George Bush and the fourth sculpture is three soldiers in Vietnam.
Less than a month before, the June 3 financial statement was included as part of a loan modification for Fred Hoppe because he wasn’t making good on his promissory notes. The Pigeon Forge set of sculptures was valued at a total of $1,092,500 in the Gary Hendershott Catalog May 12, 2009. The Branson Museum sculptures were valued at $10,592,500 in the catalog. The Branson price tag – $10,592,000 plus the Pigeon Forge figure of $1,092,500 and the financial statement totals of $8,539,000 plus $19,120,000 produce a difference of $15,974,000 from the May 12 catalog to the June 3 financial statement in 2009.
We feel the following citations apply to Fred Hoppe’s valuation of sculptures that he reported to the bank on the financial statement in the court record. (See financial statement and sculpture valuations above)
Fred Hoppe Citizen Investigation 