Monday, June 13, 2011

Evans brothers ask for sentencing delay

Collection of all posts on the Evans case

Charles and Chris Evans filed a motion on May 16 to ask for a delay in sentencing. The brothers convict argue the extension should be granted since they have not received the pre-sentencing report from the U.S. Attorney's office. Sentencing was set for June 27, 2011. Sentencing was already postponed for several months. The Evans brothers also claim the U.S. Probation Officer and Mike Hurst (U.S. Attorney) do not object to an extension.

One reason why it is probably taking so long is the calculation of damages. The Fifth Circuit ruled in another mortgage fraud case the prosecution had to determine the amount of damages per loan, not the aggregate of all loans combined. The prosecution also has to subtract from the amount of damages the value of land returned to the victims (in this case the lenders).

Charles and Chris Evans pleaded guilty to conspiracy to commit money laundering and bank fraud in U.S. District Court this morning before Judge Dan Jordan. Charles Evans has been in custody since May 2010 after resisting arrest while Chris Evans will remains free on bail. JJ estimates the Evans brothers bilked over 40 banks for over $70 million.


Synopsis of Evans case:

Charles Evans, Jr. was an attorney approved by Mississippi Valley Title Insurance Company to provide title certificates to MVT and lenders showing a borrower had clear title to property. MVT filed a lawsuit in September accusing his brother of using over 30 LLC's to obtain fraudulent loans from over 30 banks in Mississippi. Chris Evans would allegedly use one company to purchase a large tract of prime commercial real estate in Madison and Desoto Counties. Another company owned by Evans would obtain a commercial real estate mortgage on a smaller section of the tract yet that borrowing company never obtained a deed showing ownership of the land from the other company. Thus the smaller tract was actually non-existed as the larger tract was never actually subdivided. Charles would allegedly provide a title certificate however showing the borrowing company owned the land even though it didn't.

Over 80 loans for nearly $50 million were issued by Mississippi banks to companies owned by Chris Evans for lands those companies either did not own. MVT has testified federal authorities are currently investigating the case. Chris Evans filed Chapter 7 bankruptcy on October 26, which stopped the Mississippi Valley Title's lawsuit against him as federal bankruptcy law stays most state civil court proceedings once a bankruptcy petition is filed. Mississippi Valley Title testified 65 title insurance claims for approximately $41 million have been filed by banks affected by the Evans case.
















19 comments:

Anonymous said...

They are probably trying to consult with the Fraziers.

Anonymous said...

We are a cynical bunch!

Anonymous said...

what do you think are the chances this will be granted?

Curt Crowley said...

12:58, if the PSI has not been completed, chances are good that the motion will be granted, IMO. The Court can't proceed without the PSI.

Anonymous said...

Evans boys are getting a bad rap.

Anonymous said...

how about a bad rap sheet, ass hat. $70M?!

Anonymous said...

That was a joke. They should get more than Bernie did.

Anonymous said...

ah. too subtle for me, apologies...

Anonymous said...

still amazes me, Charles was one of the nice guys in my class at Bailey Jr. High...

Anonymous said...

Probably carried a bible around with him to.

Anonymous said...

I would like to know what they did with all that money?

Anonymous said...

I would bet they helped carry on the real estate bubble. They had to keep buying new property to scam on to pay notes on the previous parcels. Then the game ended and the properties probably have a lot less value now as they are returned to the lenders. Bet they don't have big money stashed away anywhere.

Kingfish said...

Economy had nothing to do with it. They had multiple loans on the same piece of property and most loans were on properties that completely overlapped each other so one tract of land might have five loans on it at the same time for like 500% LTV.

Anonymous said...

Did they have a lavish life style and live it up live it up like Frazier boys? Wonder what was the motive other than greed?

Anonymous said...

Have you heard if the sentencing delay request was granted?

Fluid said...

I knew Chris a long time ago, and would have said that he was one of the most down to earth and upright people I have ever known. And no (to the anon comment on 6/14) he did not carry a Bible around. He was in no way "in your face" about anything. Very intelligent and very dependable. Just a guess that something relatively small went bad and he thought he could cover it for a short period, the cover turned bad and things went downhill farther than anyone could have expected. That is not an excuse for his behavior, just a guess on how it got started. It makes a good case for the thought that almost anyone can be capable of almost anything in the right set of circumstances.

Anonymous said...

I would say the same about Charles. One of the nicest guys you would ever know. I ran college track with him. He was a hard worker and was never greedy or flashy. He is brilliant, and that may be what led him to do this...thinking he could pull it off. Sad for everyone--the victims, the Evans' families.

Anonymous said...

Does anyone know where Charles Evans is being held?

Anonymous said...

Charles is enjoying the luxury, comfort and hospitality of the Madison County JAIL! Lots of time to meditate on his decisions and actions!

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