Monday, April 9, 2012
In 2008, Tony Marohn bought some documents at a garage sale for $5. One of those documents was a stock certificate for Palmer Union Oil Co. The oil company’s successor is Coca-Cola, so Marohn claimed that the certificate he bought represented 1.8 million shares in Coca-Cola, amounting to a $130 million stake. Coca-Cola denied the claim and proceeded to sue Marohn. Marohn has since passed away, but his California family is still claiming they are entitled to the shares because Marohn’s signature is on the certificate.
Marohn is certainly not the first treasure hunter to get lucky at a garage sale or in other unlikely circumstances, but his find could produce the largest returns if his family is ultimately granted the stock.
See Harry Bradford, Tony Marohn’s Family Claims Coca-Cola Stock Certificate Bought At Garage Sale Worth $130M, Huffington Post, Apr. 9, 2012.
Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.