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Bass' home was owned by Allied Veterans of the World

JACKSONVILLE, Fla. -- It's a big house with an even bigger back story.

JACKSONVILLE, Fla. -- It's a big house with an even bigger back story.

First Coast News has learned new information on Jerry Bass and Allied Veterans of the World.

The 6800 block of Oakwood Drive right off the Arlington River is nestled in a quiet subdivision. Many people keep to themselves, but residents say they're rocked by what investigators are saying about their neighbors and the new information FCN has uncovered about them.

"I'm totally shocked," said a woman who doesn't want us to identify her. She said she's lived in the neighborhood 40 plus years.

She said Jerry Bass and his wife Carolyn -- who lived in a two story white house surrounded by trees and lawn ornaments -- stayed to themselves.

It wasn't until this week -- when the house was seized -- she realized who they are.

"I've never met the man, but uh, it was quite the shock to find out he's my neighbor," she said.

Court documents we uncovered show the couple bought this $420,000 house in October 2010.

Documents also show they had one $325,000 mortgage from Allied Veterans Management Group.

Meaning the same nonprofit that claimed it gave 70 percent of its profits to charity was also dishing out thousands on expensive waterfront housing.

"Allied Veterans of the World, they say they are a veteran's organization, but instead through a three year investigation, we've uncovered a highly sophisticated network designed purely for personal profit," said Seminole County Sheriff.

But the catch is a $10 bill.

Court records show Bass turned ownership over to Allied Veterans and re-paid the group $10 less than a year after borrowing that hefty mortgage.

"You never know who your neighbors are," Bass' neighbor said.

The house, now empty, belongs to the federal government.

Bass is now jailed on numerous gambling and money laundering charges as part of a $300 million multi-state racketeering investigation.

According to Duval County court records, the property is worth $500,000.

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