The Croys have admitted they made several mistakes in handling the sale of their company--mistakes that would come to light months later.
Sometime after the sale, the Croys realized they made several mistakes.
Less than a month later, the Croys filed for bankruptcy, listing $2 million in assets and $2.
RALPH CROY SOLD HIS copier sales and service business to his son-in-law two years ago and should have been set for life.
was supposed to pay Croy, who is in his late 60s, $12,500 a month for 20 years in exchange for the business, Ralph Croy & Associates Inc.
And over the next 18 months, Croy and his son-in-law each filed for Chapter 7 bankruptcy protection.
Croy has accused Young, who has since divorced Croy's daughter, of ruining the business that he built over 18 years.
He points the finger at Croy, whom he said committed bank fraud and inflated the value of the company.
16 million it said Croy received as a result of fraud.