“The wave of the future”
ELIZABETH NELSON:
Welcome to Episode 14 of Hollow Hype. In Episode 13, Heidi brought a new site plan for Southtown to the City’s Planning Commission. Commissioners were told to ignore the fact that Southtown was in bankruptcy and had unpaid taxes. The Ann Arbor City council unanimously approved a new plan for Southtown.
A few months after Southtown filed for bankruptcy, Heidi decided to change her name again. This time, it would be her first name, not her last. On social media, Heidi Poscher became Caroline Poscher. It confused her friends, but Heidi was ready with an explanation: she claimed that she had always used the name Caroline for business.
This year, the bankruptcy court received hundreds of pages of legal documents under the name Heidi. Months into proceedings, the judge and her courtroom casually adjusted to Heidi’s new identity: Caroline.
[2026 court hearing]
JUDGE:
Ms. Poscher, I think I heard you.
HEIDI:
You did indeed, Your Honor. Good morning.
JUDGE:
Right. I need you to say your name for the record.
HEIDI:
Caroline Poscher.
JUDGE:
All right.
Anybody else?
LAWYER:
Good morning, Your Honor. This is David Eisenberg. I'm appearing on behalf of Caroline Poscher.
[MUSIC]
ELIZABETH NELSON:
My name is Elizabeth Nelson. From 2018 to 2022, I served on Ann Arbor City Council. That experience taught me a lot. Mostly, I learned: people will say just about anything if they think you’ll believe it. This is HOLLOW HYPE.
Heidi confidently tells lies that are big and bold. She seems to have no fear that anyone would call her out. Is she that confident about her ability to persuade people? Or does she recognize that most people will be uncomfortable, directly calling out a lie?
When someone lies with confidence, it’s disorienting to everyone who knows the truth.
Heidi has thrived in environments where no one knows the truth. She is skilled at finding the lie that people want to believe.
[MUSIC]
Twenty-five years ago, Heidi shared news in southern Ohio that people were eager to believe: she could bring broadband internet to the region, through her company, Sequelle. Heidi offered a solution to a problem.
In 2000, the US Congress discussed the Digital Divide and how to address it, with funding and loans.
Iowa Senator Tom Harkin:
[2000 C-Span recording]
There is a digital divide. And rural America is on the short end of that divide.
The Dorgan Bill would authorize $3 billion for a revolving loan fund over five years. Which would provide capital for low-interest loans to finance construction of the needed broadband infrastructure.
We can't sit around waiting for this important technology to come to rural and small town America on its own. We know from past experience that we need to help make it happen.
ELIZABETH NELSON:
Montana Senator Max Baucus:
[2000 C-Span recording]
We have the opportunity now, while we're providing better satellite service local to local to also say, okay, um maybe we should also give some consideration to wireless broader bandwidth, you know, higher speed access to the internet. Because clearly that's the wave of the future.
Rural America often doesn't get near the same coverage as urban America. For the same reason the satellite companies are not providing local to local to to rural America, namely just doesn't pay nearly as well in rural America as it does in urban America.
ELIZABETH NELSON:
Michigan Representative John Dingell
[2000 C-Span recording]
The need which has to be met cannot be met without active assistance of the government in terms of opening up these kinds of services by putting revenues collected from this excise tax, into funds which will expand opportunity to receive services and to eliminate the digital divide.
Without government help, Mr. Speaker, there are major areas of the country. Major urban areas, as well as rural communities, where broadband services will simply not be provided.
ELIZABETH NELSON:
Louisiana Representative William Jefferson
[2000 C-Span recording]
More and more America is transforming into a technology-driven nation with every institution being impacted by the internet and email. In this new tech-driven economy, computers are becoming the crucial link to education, to defense, to information, to training, and to commerce.
20:21-20:29
A large segment of the population have no access to technology at all.
20:44-20:54
If we don't extend technology access to all Americans, our skilled labor force will continue to be depleted.
ELIZABETH NELSON:
New York Representative Edolphus Towns
[2000 C-Span recording]
Money in our Digital Bridge Trust Fund could be used to fund grants and loan guarantees to accelerate private sector deployment of broadband networks in rural areas such as California, Louisiana, and the Western United States.
ELIZABETH NELSON:
Ohio Representative Rob Portman
[2000 C-Span recording]
Well, the digital divide is something Congress is beginning to get focused on and that is that a lot of people are getting into the internet. Again, it's a real driver of our economic growth, but there are people in America who don't have access to the Internet. They may live in rural areas. They may live in other underserved areas. So the idea is to try to help them get access to the internet.
ELIZABETH NELSON:
Elected leaders agreed that broadband internet could not happen without government support, either direct funding or guaranteed loans. Heidi was able to exploit this situation.
In 2001, Senator Hillary Clinton proposed a $100 million investment
[2001 C-Span recording]
I propose creating new incentives to link industrial parks and small business incubators to the Internet and to bring access to high-speed internet connections called broadband. Too many families and businesses still have to dial long distance to get on the internet. That's why my plan also includes a $100 million initiative to help businesses bring broadband to rural and underserved communities.
ELIZABETH NELSON:
West Virginia Governor Bob Wise confirmed the need for broadband to provide jobs to his state.
[2001 C-Span recording]
Access to these lands is a prime drawing card for the high-paying jobs of the new economy. Not tied to a single place by access to ports, railways, or raw materials. With high-speed access to the internet, many information jobs can be located anywhere. We want them here.
ELIZABETH NELSON:
In the early 2000s, elected leaders spoke generally about the need for high speed internet, but very few of them understood the details of how broadband worked. Congress held hearings about how to bridge this Digital Divide, but there was a whole lot that leaders simply did not know.
People in power didn’t understand the details of how to make broadband happen. Heidi projected confidence.
[MUSIC]
JACK MOBERG:
She's one of those people that I recognize as so far ahead of me intellectually that I enjoy being around just to make discoveries, but I'm not quite sure what I'm discovering. She was the delight to be with and to listen to. And I suspect still is. Frankly, I never had reason to suspect anything other than, this gal knows what she's talking about and can make a good thing happen for Washington County. Game over.
ELIZABETH NELSON:
That’s Jack. Twenty five years ago, he led the Chamber of Commerce in Marietta, Ohio. He worked with Heidi.
I saw Jack’s name on a lot of paperwork before I ever spoke to him.
When Heidi filed Articles of Incorporation for Sequelle in the state of Ohio. Jack was one of four people listed as trustees. Two days after that filing, Jack hosted a press conference for Sequelle, at Washington State College in Marietta.
JACK MOBERG:
I don't remember being the lead person on that, but I have a vivid memory of the presentation material that Offenberger White put forward with, in those days, was great large white posters and stands - tri-stands - and what have you. I don't remember anything video being projected although there may have been. And it was held at the large gathering room at the Washington State Community College, really their dining area. It was a public space and it was pretty well filled and there were notables from many places, many areas there. It was a very big deal because this was going to bring wireless internet to the Mid-Ohio Valley. And because of our terrain and lack of large population, even cable was scantily available around the county.
ELIZABETH NELSON:
Less than a year after incorporating in Ohio, Heidi registered an entity called the Sequelle Foundation in West Virginia. Heidi served as president, Jack was named secretary.
When I met Jack, I hoped he could tell me exactly what happened with the company, how it started and how it went wrong. He described a network of local organizations that supported it: the Community Improvement corporation, the CIC, the chamber of commerce and county government.
JACK MOBERG:
I remember going to meetings with the CIC. I was not an official, I didn't think of the CIC. but it being a development entity the Chamber obviously worked in cooperation with them. CIC was a much more governmentally defined entity than the Chamber, and had taxing ability should they choose to take it up and they were a bigger game than we were because they served the whole county really. I knew there was a need for money. I knew the project needed funding for equipment and obviously salaries, but I wasn't thinking about that at the time.
ELIZABETH NELSON:
Jack is all over the paperwork for Sequelle, but says that he can’t remember much of anything
JACK MOBERG:
I do not remember frankly and I'm really a little embarrassed about what I don't remember about this whole Sequelle adventure.
Since first talking with you, I have started the wheels of thought running. And I do not even remember when it became apparent that this whole thing was falling apart and not going to happen. I left the Chamber in 2001 and Sequelle continued on its path doing that development, and my head and interests were in other directions.
ELIZABETH NELSON:
Sequelle continued on its path over the river in West Virginia, Heidi was particularly aggressive there, demanding financial support for Sequelle.
[MUSIC}
She pressured the West Virginia economic development office to guarantee loans, emphasizing over and over again all that was promised and how much would be lost if Sequelle didn’t get them. The stakes were high: new jobs and economic development for the region. In July 2002, Heidi wrote to Robin Greathouse at the West Virginia Economic development authority:
“Sequelle has pledged to create nearly $2.5 million in annual payroll over the next ten years, by directly creating 45 high paying, benefit supported, high technology jobs. The Sequelle stockholders and investors take this obligation very seriously and respectfully request that due consideration be placed on the economic impact of this $25 million commitment.”
None of it was real. In archived emails and letters, some staffers pushed back, but Heidi persisted and increased the pressure. At one point she threatened litigation against a business partner. Heidi’s tactics worked and she got what she wanted: $500,000 in guaranteed loans. This was in addition to the millions she’d gotten in federal money.
The public record from West Virginia is familiar to me. I know what Heidi sounds like when she’s desperate. She was desperate in 2020, when a new city ordinance threatened her Airbnb business on Henry Street. It wasn’t pretty. She threatened litigation then, too.
Since November 2022, Heidi has had a much easier time getting everything she wanted in Ann Arbor. City Council, city staff, and mayoral appointees on the planning commission have approved literally everything she requested of them.
In 2026, the bankruptcy of Southtown is a new challenge. Heidi has persuaded investors to direct tens of millions of dollars at Southtown and pull it out of bankruptcy.
RALPH MCKEE:
Agile is paying, Agile believes that the property and the project is worth more than the claims.
So they are willing to pay something to the principal of this debtor, who at this point is Heidi Poscher, in order to obtain that.
I have no idea what Agile's motivations are, or what they think that they can turn this project into, or why they think it's worth putting up the 54 million dollars. I have no idea of any of that. They could maybe think that they could build a much bigger building there, get the city to approve something way larger. But it's very unusual for a developer to actually fund it before those approvals were done. Again, I'm not a real estate maven, but that would be quite unusual in my limited experience in that world. The other possibility that crosses my mind is that Agile is, they're an energy company and is it possible maybe that they're thinking of this as a model for some sort of extremely innovative energy system that they want to be able to produce and then market in a major way that would be like billions of dollars of potential revenue? Maybe that. Those are the only two things I can think of that would convert the discrepancy in the numbers into something realistic and a good investment.
ELIZABETH NELSON
In early September, Heidi faced a bankruptcy judge in Detroit.
[2026 Court hearing]
CLERK:
Calling case number 26-40805 Southtown by 4M LLC.
JUDGE:
Good morning. The court would like to take appearances.
ELIZABETH NELSON:
The bankruptcy court has been meeting since February, discussing how to reorganize Southtown. On September 25, the court was scheduled to hear and approve a final plan.
On September 11th, the court raised concerns about how a list of creditors had been amended and whether they’ve received notice.
[2026 Court hearing]
JUDGE:
What you did here is you added an address for DMC Real Estate Services, which had no address on the original Schedule G. You changed the address and the spelling of the name for Resiliant Solar of East Tennessee, which in the original schedule G it was at an address on Myatt Drive in Madison, Tennessee and on the new one, it's got an address of 2126 Southwood Drive in Maryville, Tennessee. And then you added Newmark Valuation and Advisory services. And then you added Resset Energy with no address. The problem here is this what's gone on September 3rd. The plan and disclosure statement have gone out. Everybody that's in there had to be served, but the certificate of service indicates that that didn't happen. So they may not even have known of the bankruptcy. I can't say one way or the other. But to not serve them is a problem.
There's no address for Resset energy. It's been added to schedule to do they even know about the bankruptcy?
Sir, do you have an address for 'em yet? You've added them to the schedules. Have they ever seen the plant?
LAWYER:
No, I don't know the answer to that question.
ELIZABETH NELSON:
A plan for Southtown cannot be confirmed unless all the parties are notified properly. The judge explained:
[2026 Court hearing]
JUDGE:
I mean with the confirmation hearing date of September twenty-five. September 1st means only 24 days to the confirmation hearing. And as you know, there's got to be 28 days notice of the hearing to consider plan confirmation and 28 days notice of the deadline to object to the plan. Because they weren't served by September or before September one, we have a problem.
But you've still got the problem with Resset energy. There's no address for them on Schedule G.
LAWYER:
Your Honor. I don't know anything about Resset energy. I got a very comprehensive memo on everything that had transpired and the name of that entity never popped up in anything that was provided to me. So I can't answer Your Honor's question about why they were added or why we don't have an address.
ELIZABETH NELSON:
The back and forth regarding Resset and Resilient Solar prompted Heidi to interrupt proceedings. The judge was not receptive.
[2026 court hearing]
JUDGE:
Well the court's question then is, well the court raises the concern that this situation can be extremely problematic for confirmation. Especially at this point.
HEIDI:
Excuse me, Your Honor, may I add something here for clarity?
JUDGE:
Who was speaking?
HEIDI:
This is Caroline Poster. Yes, I believe - I would have to check it - but I believe Resilient and Resset are different versions of the same entity. I would have to go back and re-check that. In either case, well, I would have to go back and recheck that, but I think there might be some crossover there.
JUDGE:
Ma'am, I'm gonna I understand what you're saying. You have to get the facts to your counsel so that they can address them because there are legal implications when you say crossover entities. The law is what it is and says what it says. And what has happened here is that this Resset Energy without an address has been added onto Schedule G. And because there's no address, it appears that they're not on the matrix, they've not been served with anything including a plan that is rolling toward confirmation with a confirmation date hearing scheduled two weeks from today. And so the court directs you to work with Mr. Welford. He'll know what to do, but ideas like crossover, the court can't guess and the court doesn't even know what that means in a legal sense. So the court has every confidence you'll get as much information as you can to Mr. Welford so he can figure out the best way to proceed.
[MUSIC]
ELIZABETH NELSON:
The two parties at issue - Resset and Resilient Solar - are essentially one person, Steve Pullins. He has worked with Heidi in promoting Southtown. He is also named in the bankruptcy plan as a future stakeholder. After Southtown is reorganized, Pullins will have a 2% share of Southtown. Heidi almost certainly knew that Resset and Resilient Solar were both Steve Pullins, even without having to “re-check.” She apparently didn’t tell her attorney.
A plan for the reorganization of Southtown will not be approved on September 25. It’s been put off to October, to make sure all parties are properly notified.
In the meantime, Heidi will present her plan for Southtown to the probate court. The probate court must consider how the bankruptcy plan accounts for Marge’s estate.
In settling Marge’s estate, here’s a lot that the probate court hasn’t considered.
Marge’s friends are shocked to realize that Heidi inherits and controls everything. Without a will, the stepdaughter that Marge cared for since infancy has no right to anything. Is this really what Marge intended? Heidi knew Marge’s brother and communicated with him, but when she was asked to identify him in written testimony to the probate court, Heidi listed him as “address unknown.” Why would Heidi pretend she didn’t know the address of Marge’s only surviving sibling?
Marge’s estate will soon be settled without anyone questioning any of it.
[MUSIC]
I’ve had many conversations with people in Ohio and West Virginia who knew Heidi 25 years ago. When they hear about what happened to Marge, they draw their own conclusions. Most people won’t talk to me on the record.
Jack was willing to talk to me, but he didn’t remember much.
I’ve asked him for help in reaching others who might remember more about what happened in Ohio and West Virginia. Jack is not optimistic. He messaged me recently:
“what do any of our locals have to gain by recalling what they did NOT think to do at the time? Sort of scratching an old wound. You just hope the scar disappears over time and you learned something from it”
He may be right. People from Heidi’s past probably have nothing to gain from talking about what happened. But their stories could be helpful to others. Twice now, Heidi has simply reinvented herself in new places with new people. Community leaders in Ohio and West Virginia trusted Heidi because they didn’t know what she had done in California. The city government of Ann Arbor trusted Heidi because they didn’t know what she had done in Ohio and West Virginia. Where will Heidi go next?
Thanks for listening. Visit HollowHype.com to find more information about this episode.
Coming up in episode 15: probate court discusses the bankruptcy plan for Southtown, but the circumstances of Marge’s death raise more questions.
If you have something to share about Heidi’s activities in Michigan, Ohio, West Virginia, or California. Please reach out to hollowhypepodcast@gmail.com
