Jackson Jambalaya

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.