Jackson Jambalaya

Who gets the money from the sale? I hope not Wolfe, Paris or Travelstead?

Since it is the bankruptcy estate doing it then it would go to the estate to pay off the creditors.

Do you have a list of the creditors to be paid and the amounts lost?

Yes, Kingfish has the list of creditors and amounts posted. See blog entry Aug. 26, 2009.

mmmmmmmm..I hope like hell Lee Paris and his group of crooks don't owe much money to their creditors.. That list of property for auction is a collection junk that most people wouldn't even accept as a gift!

I have looked at the properties and found them to be good investment properties. I'll sure take them as gift!

sure thing 5:16! you need to get your checkbook out and buy those crack houses and good luck collecting rent from tyrone and rhotunda! hardy har har!

p.s If you REALLY have looked at those dumps and deem them "good investment properties" and aren't lying you should keep your day job and leave real estate investing up to those who know a good deal from a turd!

5:13 you got it right. They might get a bid of 5,000.00 for all,of it. I was buying that junk 30 years ago, made money on it. Those days or over, just like Jacktown.

Wolfe must be back on here responding.

I find your subtle racism offensive you bigot! And the fact you are running down the properties and trying to convince anyone reading this they are worthless. Well, you obviously don't want them to sale for a decent price so the victims or creditors would get any of their lost money back! Racist and a crook, you are pathetic!

YO! 7:20!... BLAH! BLAH! BLAH!

where is wolfe now a days?

Rumor is: he is burning in a living Hell!

I looked at these properties. Only five of them are even inhabited and they are in poor condition and needs repairs now, and the rest are not worth what the city taxes are each year. Three of them are vacant lots. Most of them are in west Jackson and in need of more repairs than they are worth. Can't help but wonder if this a preview of what is to come when the rest are sold by the court. Is this what Wolfe did to make it look like he was in a legitimate business? He was on You Tube just before he filed bankruptcy telling everyone what a wonderful investment buying houses in Mississippi was.

Rumor is that there is a book being written now about this con.

A book about the Steadivest scam? Boy, Would I like to read that. When is it coming out and where can I buy it?

Heard Wolfe is in apartments near Old Fannin Rd.

Lee Paris picked off all the decent properties and took them for the "fund" just before the bankruptcy.

Wolfe is following JJ blogs and Steadivest youtube!

10:39, I'm confused (not unusual), did Lee buy them to put into the fund? Why would he do that. These are terrible properties. What am I missing?

Lee did not buy anything. The scam was that Marshall backed Lee's cash injection into Steadivest with real properties, however the proper paper work was not executed. Marshall set up two groups of investors backed by one group of properties. The original group made up of MTW, TFS, Steadivest etc. and then later Lee Paris's group Investlink. Neither group knew of each other except for Marshall and Lee whom orchestrated the deal under the table. Lee knew about the other group of investors because he was once an investor in that original group. Not only did Wolfe execute a Ponzi scheme, he fleeced two groups of investor simultaneously without either group knowing, with the help of Lee Paris. For an unknown reason Marshall's alliance was to attempt to protect the losses of the Investlink group so he attempted to sign over as many properties as he could just before filling bankruptcy. The big mystery is, why was Wolfe so concerned with covering Lee Paris's Investlink loss and not the other group. The original group MTW, TFS, Steadivest etc. That group is where Marshall's closest friends and family members were invested, He attempted to leave them with nothing???

Sorry , I misread the post. Thought you were saying he bought the properties that were auctioned.

Every time I read these comments regarding the Steadivest saga, I am amazed at how terribly uninformed the people making the comments seem to be. After all of this time, you would think that you all would have figured more of this out. Marshall Wolfe was no genius nor was he or Lee Paris somehow scheming together. Lee Paris never fleeced properties from one fund to the other. He would not have known where to begin.
This is a simple case misdirected effort, a bad business plan and a progression of bad decisions that ended up affecting alot of people in a terrible way, mostly because Marshall Wolfe was full of foolish pride fueled by the burning desire to prove to his former business partners, Joel Travelstead and the gang, that he was as smart as he professed to be. The unfortunate part is that to continue living the lie that he created, he needed Lee Paris to raise more money to keep floating the boat. Lee Paris would not have cared if he was selling airspace on Mars as long as he got a commission and his investors got their interest checks each month. At the point it fell apart, he simply said that he had money in it too. The entire situation was conceived, maintained and ruined by GREED on all parties involved including the investors. What kind of idiots cant figure out that while the market is paying 2 percent, Marshall is offering 14 percent on trading houses in sectors of the market degrading faster than melting ice and that is supposed to be a safe investment??? Please. And then, the greed continues as the investors choose time after time to reinvest their interest, because they couldn't get that performance out of any other investment unless they were willing to partake in illegal activity. No one is innocent in this equation.

2/19 8:54pm

Nice explanation but maybe your spin is a little biassed. From someone whom knows the truth backed by a recovered 8,000 deleted emails from the Steadivest server, Wofe and Paris are absolutely crooks and left a paper trail only few are privy to. This is not an awe shucks scam that just kinda happened. Wolfe was calculated and cunning along with Paris. Paris absolutely knew the Steadivest properties were the collateral that backed the initial investors i.e. MTW, TFS, etc. He knew by giving Wolfe a cash injection and asking for the properties to be signed over to the Investlink Fund he was exposing the initial or first group of investors. Paris made a mistake thinking if the ship was to sink he would be ok because he held the properties as collateral but to his surprise, I am sure, along with others - Wolfe only had about 5 million in properties versus Paris's over 6 million dollar injection along with 9 million from the initial investors. Everybody lost except Paris being he took a million dollar commission on the front end!! Also, 14% is incorrect, Wolfe offered 8-12% and only a select few were offered 14% and one investor Wolfe gave a personal guarantee.

Feb 19 8:54pm

"No one is innocent in this equation."

Wolfe's ex-wife's grandmother lost her entire life savings with no knowledge of interest she was earning or even understanding reinvesting, She trusted Wofle, her daughter and Son-in-laws judgment and lost everything.

Your statement is uninformed and offensive. She was innocent!

He is a con artist. If you invest with him, he will take your money, even if your investment is profitable. He knows all the legal tricks to just barely be legal. Unfortunately he uses the church and puts up a good front. He needs to be doing prison time instead of just being slapped on the wrist. This is not his first con.