Freedom Bank of Southern Missouri is seeking to recover funds related to a foreclosed home nicknamed the “African Queen” by its former owner.
Through listing agent the Hancock Co., Freedom Bank on Aug. 16 listed the 2829 S. Lone Pine Ave. property for sale at $1.4 million, according to the Southern Missouri Regional MLS. Freedom Bank President and CEO Stan Kelley confirmed the company is attempting to sell the home after previously telling Springfield Business Journal in June a listing would come after an appraisal of the residence.
The two-bedroom, two-bathroom home spans more than 3,100 square feet. The listing does not make mention of its “African Queen” nickname, which it was called by previous owner Michael Willhoit. In June, Willhoit was charged in a 36-count indictment alleging a $1.4 million bank fraud scheme. Freedom Bank is among the victims named in the indictment.
In April, Freedom Bank bought the residence in a foreclosure sale, SBJ previously reported. The company brought on the foreclosure proceedings after calling an $875,000 note due.
Located near Galloway Village, the so-called African Queen gained national media attention for Willhoit’s attempts to sell it on eBay for $8.9 million. Willhoit in February 2018 told The Wall Street Journal he invested $7 million-$8 million renovating and expanding the home, which pays homage to Africa with a man-made lake, a waterfall and numerous artifacts.
CFO study reveals changes in values and practices among donors under 40.