The two brothers who own the extended warranty firm US Fidelis have agreed to pay the company more than $10 million and turn over assets worth much more than that to settle allegations that they looted the company.
U-S Fidelis is based in Wentzville. Darain and Cory Atkinson will make the cash payment and will also relinquish title to a $27 million luxury home in Lake St. Louis and in the Cayman Islands. They’ll also surrender a 50-foot yacht and at least ten other boats, 11 cars, 14 motorcycles, and other vehicles and a lot of jewelry.
The settlement has been offered to the federal bankruptcy court in St. Louis.
The Justice Department has a separate criminal investigation going against the brothers.