“We were hoping it would be a nice asset to Beavercreek and to Greene County,” Reid said of the business she helped open in 1996. “We invested in our hometown. It’s a sad ending.”
If completed as planned, the sale ends a complicated tale of obscured investors, land transfers, liquor license questions, civil lawsuits, a foreclosure and the death of a patron.
The buyer was Jason Wadzinski, who runs a 60-employee, 20-year-old supply chain software company called Advant-e Corporation. He plans a nine- to 12-month renovation of the 10,500-square-foot building at 2434 Esquire Drive near the Mall at Fairfield Commons.
“We had a Christmas party there about 10 years ago,” said Wadzinski, a Spring Valley resident whose current office space is at Beavercreek’s Russ Research Center. “It’s a very solid building.”
The property was appraised at $1.22 million, down from $1.5 million two years ago. Wadzinski was the only bidder.
Attorney Susan Goldie said the Wallaby’s company, which was operated under various names, owed at least $245,000 in back taxes.
If the sale goes through, Goldie said money will go to the clerk of courts, the sheriff’s office, the treasurer, the mortgage company and to satisfy other claims. Reid said she is owed for $100,000 of kitchen equipment leased to Wallaby’s.
The business seemed to be shrouded in controversy.
• Nygel S. Gibbs was shot and killed outside Wallaby’s Gin Mill in January of this year.
• In June 2008, Reid said she sold her shares at the end of 2006 or 2007. Reid said Thursday that she sold her five shares in 2007 or 2008, but couldn’t be more specific. She declined to name the buyer.
• Reid said her financial disclosure forms for the 2006, 2007 and 2008 Ohio Ethics Commission mistakenly listed her as a shareholder because she copied forms from previous years in her disclosures.
• Shortly after the business opened, the Ohio Bar Association accused Reid of trying to conceal some of the company’s investors on a liquor license application. The association eventually exonerated her.
• People involved in the initial land purchase and company formation included Dr. Keith Peh, a gynecologist convicted of molesting patients, and Peter Sung, a pharmacist later convicted of selling drugs.
“To me, I was hoping it was going to be a family place,” said Reid, whose ex-husband, M. David Ried, and son Nelson were involved in the business. “I wish (Wadzinski) great luck with whatever he does.”
Contact this reporter at (937) 225-6951 or mgokavi @DaytonDailyNews.com.
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