So, let me get this right;...

Munchkin lead Sears into bankruptcy before he was US Treasurer. Not only did he lead Sears into bankruptcy, but there is also $2 billion in the companies assets that were transferred into accounts that prevented third parties from being paid? Is that right? Isn't that illegal?

August 12,, 2019
By Josh Saul

Treasury Secretary (click here) Steve Mnuchin speaks during a ceremony to swear in Joseph M. Otting as Comptroller of the Currency.

Almost four months ago, (click here) the bankrupt estate of Sears Holdings Corp. sued Eddie Lampert and U.S. Treasury Secretary Steven Mnuchin over allegedly wrongful transfers of $2 billion in company assets. Now lawyers representing the two men have asked the federal judge overseeing the retailer’s Chapter 11 case to lift the bankruptcy stay so Sears insurance policies can pay their legal fees, according to a new court filing.

Before Sears went bankrupt in October, the company carried a $150 million insurance policy that covered its officers and directors against legal fees and expenses, according to the filing. Lampert was chairman of the Sears board starting in 2005 and chief executive officer from 2013, while Mnuchin was a director of Sears from 2005 until 2016, court papers show....