William Erbey decided to move part of his business empire to a tax haven, U.S. Virgin Islands, to evade taxes. While relocating to the tax haven, Erbey forced Ocwen to pay $6.4 million to buy his home located at 4701 Northside Dr, Atlanta, GA 30327.
Erbey had enough money to have held on to that property until a buyer emerged but he did not do so. He knew nobody will pay $6.4 million for that home.
More than two years and two price cuts later Ocwen are still trying to sell the home. For 26 months Ocwen's shareholders have been forced to pay for the mansion's maintenance, utility bills, taxes etc. The mansion is a symbol of the Ocwen Chairman's material excesses and flashy lifestyle.
Here's a link to the listing which is NOT being sold through HUBZU:
http://www.zillow.com/homedetails/4701-Northside-Dr-Atlanta-GA-30327/35913688_zpid/
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