Sept. 11 statue in Md. fails to sell on eBay

May 22, 2010

Emmitsburg — — A 40-foot bronze sculpture in rural Maryland of three New York City firefighters raising the U.S. flag at Ground Zero has failed to sell on eBay.

The monument to heroes of the Sept. 11, 2001, terrorist attacks was offered by a court-appointed receiver for 10 days to recoup money for victims of an alleged Ponzi scheme. The auction ended Saturday with no bids.

The statue was commissioned by Coadum Advisors Inc., which donated it to the National Fallen Firefighters Foundation in Emmitsburg for a tax break.

But the court took control of the statue after allegations surfaced about Coadum.

The piece must stay in Emmitsburg under an agreement between the sculptor and the firefighters group. Sale proceeds would have gone to defrauded investors. A buyer would be recognized as donating the statue to the foundation.

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