The Atlanta mansion of Saudi Arabian Prince Faisal is going on the auction block, following a ruling by federal bankruptcy Judge Hugh Robinson.
Robinson ruled Friday that Prince Faisal Mohamed Al-Saud Al Kabir "abused the bankruptcy process" by transferring his mansion, its furnishings and a gun collection to a holding corporation to protect it from bankruptcy.No date for the mansion's auction has been set by the CJS Corp., headed by former Georgia Gov. Carl Sanders, which is owed $11 million by the prince. The mansion and its furniture were collateral for a $3 million loan to Faisal.
The corporation is also seeking to foreclose on 5,400 acres of farmland in Bartow and Floyd counties put up for an $8 million loan.
The prince reportedly is in Saudi Arabia seeking financing for his Georgia properties.