Former Broncos quarterback is asking $9.5 million for his once-bankrupt Cherry Hills mansion.
A former Denver Broncos backup quarterback who is being sued by the business he founded has put his once-bankrupt Cherry Hills Village mansion up for sale.
The 2002-built mansion on Mockingbird Lane, which has seven bedrooms and ten bathrooms, is listed for $9.5 million. It is referred to as “the finest luxury home in Cherry Hills Village” in a Jan. 14 listing.
The statement read, “The exterior’s classic architecture, which combines brick and stone with lush landscaping, exudes sophistication.” “A welcoming foyer with high ceilings greets you as soon as you enter, setting the tone for the opulent living areas that lie beyond.”
Preston Parsons, 44, is the owner of the mansion on Mockingbird Lane. In 2006, he was the Broncos’ fourth-string quarterback. He retired in 2008 and started working in the medical device sector. According to records, Parsons and his spouse paid $5.1 million in 2017 for the estate on Mockingbird Lane.
Parsons established Assure Neuromonitoring in 2015. The business watches surgeries to make sure patients’ spines and brains are unharmed. The neuromonitoring industry is criticized for charging patients and insurers exorbitant fees for a straightforward service by using its close ties to surgeons.
According to a press release from the publicly traded company, Parsons resigned as CEO in 2018. According to the company, Parsons misused a company credit card to spend $850,000 on personal expenses and was wrongfully paid an additional $600,000. This information was discovered during a forensic audit of Assure. According to the press release, Parsons promised to reimburse that money.
Assure requested Parsons’ resignation from its board of directors in August 2022 and again in October of the same year, citing “a lack of judgment” on his part that had “raised doubts” about his ability to abide by Assure’s code of conduct. The business brought up a discussion he had with a shareholder. After first refusing to step down, Parsons finally did so in late October 2022.
In his resignation letter, he stated that Assure’s stock price had dropped by 95% and that “I refuse to stand by and have my name continue to be associated with this debacle.”
In his resignation letter, he stated that Assure’s stock price had dropped by 95% and that “I refuse to stand by and have my name continue to be associated with this debacle.”
Assure filed a lawsuit against Parsons and three former workers last month, claiming that they had stolen trade secrets from Assure and exploited them to the advantage of a rival neuromonitoring business in Michigan. Parsons and the other individuals have refuted any wrongdoing.
Just one day prior to a foreclosure sale, in August 2022, Parsons filed for bankruptcy on the property via an LLC. InBank was the only creditor in the case; it had given him a $4.3 million loan in 2019 that had not been paid back. Parsons secured the loan by using the mansion as collateral.
Calling the bankruptcy case a ruse to prevent the foreclosure of the Mockingbird Lane mansion, InBank requested that it be dismissed. The dismissal occurred in October 2022.
Parsons stated, “There was no need for the bankruptcy because we got a new lender, and we got it dismissed.” We recently sold the house and moved on with our lives.
