INTERNATIONAL INTRIGUE
Adelphia building back on bidding block; Investor who wanted to buy was bilked

While the former Adelphia corporate headquarters in downtown Coudersport remains on the auction block, an Irishman who almost bought the building is out more than $2 million and demanding justice.

Meanwhile, a Massachusetts man who apparently stole much of the cash was apprehended last weekend as he tried to flee to Venezuela.

It's just the latest chapter in a bizarre sales process that has attracted those hoping to "flip" the property for a multi-million dollar profit, others interested in tearing it down and selling materials for salvage, and a handful of potential employers hoping to acquire the massive structure at a fraction of its original cost.

No one is sure what Kevin Phelan's intentions were, but the Irish speculator has found himself in the news. Earlier this month, he sued a Massachusetts lawyer and real estate company, claiming that he was defrauded.

Phelan accused them of making off with his money and failing to seal the deal with the Adelphia estate, causing Phelan to lose $1 million sent as a deposit on the property.

Named in Phelan's suit were an attorney, Raymond A. Desautels III of Oxford, Mass.; a real estate firm, South Beach Realty, Auburn, Mass.; and Steven Testa, a principal in South Beach Realty.

Phelan claimed that he put down his $1 million deposit, then wired an additional $1.99 million to a U.S. sales agent to buy the building. That agent issued a certified check to Desautels, who then transferred the money to South Beach Realty.

However, the real estate company never received it. The question of what really happened to the cash was answered last Friday.

Allen Seymour, also of Oxford, was nabbed as he tried to fly out of Miami, bound for Venezuela on a private jet with his wife, five children and family dog.

Investigators found $1.36 million concealed in brown paper and plastic bags hidden in his luggage. Seymour has been charged with wire fraud and interstate transportation of stolen property.

He has been identified as a former partner of Phelan's U.S. sales agent, Bill Bibaud.

Meanwhile, LFC Online Auction Company has been seeking a new round of offers for the Adelphia property, and attracted an opening bid of $3.1 million. A presstime, the bid stood at $3.2 million. It was built for Adelphia's corporate offices at a cost of almost $30 million.