The owners of Poor Red’s appeared in court Friday afternoon for a confidential hearing regarding possible buyers of the bar.
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After a matter of housekeeping concerning a clerical error, Judge Douglas C. Phimister told the court that Michael and Brenda Adams would have a confidential hearing regarding valuation and potential buyers of their bar. The hearing was confidential to prevent other buyers from hearing offers.
About an hour later, the court opened and the audience — in part made up of former employees — were allowed back in. Phimister told the court that the case would be continued to May 9 at 3 p.m. in Department 7. He ordered a probation report regarding possible sentencing to be prepared.
Prosecutor Jim Clinchard confirmed that Phimister gave an order allowing a distract attorney-retained appraiser to evaluate the property.
The Adams pleaded guilty last August to charges of filing false tax returns with the state Franchise Tax Board and Board of Equalization, failure to make contributions to the Employee Development Department, failure to secure worker’s compensation — a misdemeanor — and each had a different charge of insurance fraud. They both also agreed to an enhancement of aggravated circumstances due to the amount exceeding $200,000.
The commercial property that includes Poor Red’s is on the market with a current selling price of $1.5 million.