Wednesday, March 26, 2014

Steadivest update: Wolfe arraigned today.

U.S. Magistrate Keith Ball set bond for Marshall Wolfe at $10,000 today.  He scheduled June 2 for the trial date for Mr. Wolfe.  A federal grand jury indicted Mr. Wolfe for bankruptcy fraud and conspiracy to conceal assets in bankruptcy.  He faces maximum penalties of five years imprisonment and $250,000 fines. 

28 comments:

Anonymous said...

5 years and 250k for each count. He deserves all 10 years...

Anonymous said...

Wolfe was accompanied in todays arraignment by his sister, mother and father. Interesting, no way he is innocent. A not guilty plea is a joke. Feds got him now.

Anonymous said...

Who is his lawyer?

Anonymous said...

Chubby Clarence Guthrie

Anonymous said...

"A fat lawyer has paying clients" (Confucius)

Anonymous said...

Any person that takes dozens of elderly, retired people's money and blows it like Wolfe did, living and acting like a big wealthy executive deserves more than ten years in prison. Many of his victims lost everything they had because of his lies, and are now living without things they should have.

Anonymous said...

but prosecutors contend Wolfe, “aided and abetted by others known and unknown to the grand jury,”

It looks like some other Steadivest employees and cohorts may have some serious worries coming their way soon. Are more indictments coming?

Anonymous said...

"not good lawyer no good paying clients equal stress eating" (Confucius)

Anonymous said...

Prosecutor said he was aided and abetted by known and unknow others.

Anonymous said...

Amazing how many develpers and investment managers are now being prosecuted. Keep up the good work, te bad apples make everyone look bad.

Anonymous said...

Wolfe's actions took advantage of vulnerable adults, as defined by the State. He should be charged under that,also.

Anonymous said...

If I had been a Steadivest employee, executive, or officer when all of this happened, I would be worried about my behind right now, because this may just the tip of the iceberg. Wonder if the lawyer who filed a bogus bankruptcy has any obligation?

Anonymous said...

Does anyone know why Wolfe was not indicted for running a Ponzi scheme? The indictment virtually says that same thing.

Anonymous said...

may Justice find Jack Harrington.

Anonymous said...

Jack Hampton would have been the Madison County Administrator today if Kingfish had not broken the story. He was Karl's , John Bell's and Rudy's boy.

Anonymous said...

"Prosecutor said he was aided and abetted by known and unknow others." What could happen to the "Others" that aided and abetted Wolfe?

Anonymous said...

It could not happen to a nicer guy, excuse me, a nicer con man.

Anonymous said...

10 to 1 odds that Wolfe blames someone else or something else for his actions.

Anonymous said...

Something is missing here. If Wolfe had an in house, full time attorney on his payroll, and in his office full time, how could the attorney allow this to happen? Duh. Something doesn't add up.

Anonymous said...

12:19 Look up how Sal Avena eventually got charged himself for participating in racketeering instead of just being the mob's lawyer. He DID beat the charge, however.

Anonymous said...

Where do convicted criminals go after and if they are found guilty of a federal crime?

Anonymous said...

Are all federal prisons like country clubs or are some actually bad places to be with bad hombres on there?

Anonymous said...

So when the Wolfe of Rankin Co investment scam starts cutting deals with the Feds, whom will he rat out to reduce his sentence? Steadivest boys are as nervous as cats on a hot tin roof!

Anonymous said...

Anyone ever affiliated with Wolfe should be nervous, especially anyone who knew the true financial condition of the companies they were promoting. Hiding factual financial condition from investors is almost as bad as blatantly lying about it like Wolfe did. Wasn't one of Wolfe's former partners a CPA? Surely a CPA would know what the real numbers were.

Anonymous said...

Someone please tell us why Wolfe wasn't indicted for running a Ponzi scheme and bilking investors out of millions.

Kingfish said...

I suspect there is a statute of limitations issue. Five years on federal fraud cases

Anonymous said...

Prison life can be rough on anyone who is not tough.

Anonymous said...

With Wolfe having a wealthy father, anyone think he is a flight risk?

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