9-11 Sculpture Embroiled in Alleged Fraud Scheme

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A towering sculpture in the Maryland mountains depicting three New York City firefighters raising the U.S. flag at ground zero was financed by investor fraud, federal regulators say.

Now the 40-foot bronze statue unveiled in November 2007 at the National Emergency Training Center in Emmitsburg, Md., is for sale. A court-appointed receiver and the sculptor, Stanley J. Watts of Kearns, Utah, say they hope to raise at least $425,000 to repay investors in Coadum Advisors Inc. — and perhaps have something left over for the artist.

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