Receiver To Take Control Of Stipe-Phipps Firms

A court-appointed receiver will operate companies affiliated with Phipps Enterprises as the legal battle over the firms, including abstract companies, continues between former State Senator Gene Stipe and his partner, Steve Phipps.

The two are locked in a civil lawsuit over the companies while at the same time both are targets of a federal investigation that so far has alleged they were involved in a conspiracy to funnel illegal donations into campaigns and were part of a conspiracy to funnel state money into Phipps' operation.

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