Igor Kenk: Bikes, Trucks, and his Shop

Bad Bikarma?

The Globe and Mail is reporting that a deal today will see notorious (alleged) Toronto bike thief Igor Kenk lose possession of his trucks and the thousands of bikes he has been accused of stealing in a bikes-for-drugs scheme.  Approximately 2,200 bikes (mostly junkers), recently appraised at about $50,000, will be sold off by the Ontario government and the proceeds will go to the crown.  I did the math: that’s approximately $22/bike.  Hit up that auction and find your next fixie conversion!

In return, Kenk will receive the benefits of a provincially-supervised sale of his Queen West bike shop.  Kenk bought his shop for $85,000 in 1995 and is mortgage free; due to the gentrification of Queen West over the past twenty years, the property is now valued at $700,000.  After paying $115,000 in legal fees, the rest goes to Kenk.

Of course, criminal charges against Kenk are still pending.  And he’s still jail.  So, let’s assume there’s more to come.

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