A Madison County grand jury indicted David Watkins for embezzlement on October 24. Attorney General Jim Hood issued the following statement:
Jackson resident W. David Watkins turned himself in to authorities Wednesday night after being indicted on two counts for embezzling bond money intended for a development project he managed, announced Attorney General Jim Hood.
Watkins, 68, turned himself in to the Madison County Sheriff’s Department on one count of wire fraud and one count of embezzlement. The indictment, which was handed down in October by a Madison County grand jury, states he took $587,084.34 in bond proceeds from the Mississippi Business Finance Corporation while employed as the managing member of development company Retro Metro, LLC in June 2011.
According to the indictment, the bonds were intended for construction costs for a project financed through taxable revenue bonds for which BankPlus in Ridgeland served as Trustee. The bond money was ultimately put toward Watkins’ own use. The wire fraud charge stems from the scheme being transmitted by telephone, wire, or other communication across county lines.
If convicted on all counts, Watkins faces up to 25 years in prison and $30,000 in fines. A charge is merely an accusation, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
Watkins is currently in custody at the Madison County detention center awaiting arraignment.This case was investigated by Roger Wade and will be prosecuted by Special Assistant Attorney General Robert G. “Bob” Anderson, both with the Attorney General’s Public Integrity Division.
75 comments:
This is so upsetting. The photo is heartbreaking. David is a good man, husband, father, grandfather and friend. I don't know the intent of his transactions, but I would assume it was a "rob Peter to pay Paul" with currently available cash. Poor judgment in a desperate situation.
This sort of crime happens all over the country. Just glad he's being prosecuted in Madison.
$500,000 for your own use. The arrogance of these Sun bags..
He'll get 15 to serve for sure.
"David is a good man..."
No. Good men do not embezzle hundreds of thousands of dollars.
2:17. amen. people like this are the downfall of jackson: financial predators.
This is just another case of someone not knowing what it takes to be a developer. David is a lawyer (not very good) and should have stuck to his trained profession. He was heavily involved with Ben Allen and Downtown Partners---NO SURPRISE !!!! I believe he was Chairman of DJP at one time. He was one of the most arrogant men I have ever met and it was obvious to me he had no clue what he was doing. Sometimes people try to cover up stupidity with arrogance. I do not feel sorry for him but I do feel sorry for his family. Maybe Hood can go after Ben Allen again and Watkins and Allen can become cell mates.
Good man my ass. Good men finish the job with the given said money and hopefully under budget.
Birds of feather..
2:09 and 2:17, David is a man of character and integrity. I do not believe these charges for a minute and I'm willing to bet money that Jim Hood ends up with egg on his face over this.
Jim Hood is a nasty, lying SOB with a terrible mullet haircut that needs to go jump in a lake.
I wonder if this is ever going to end?
2:49 will have a better chance of being someone's cellmate. Hide and watch. ROFLMFAO.
Democrat!,,,
2:59, what the hell does ROFLMFAO mean ????????????
Wow! Throwing a lawyer in draws more sharks than chum, contrary to the old joke. I'd just characterize David Watkins as someone who tried to do some really good things for the City of Jackson and some other areas of the state, but got out of his field/league and over his head, but kept trying to make things work. I won't sentence him here, will leave that to a judge and jury.
Hey, KF, on a more important note, when do plan to run the 2017 Hottest Reporter Poll??
3:17 your age is showing. Just google it...
(you do know what that means, don't you?)
2:54pm... the local elementary school called.. seems you were skipping class while embarking on a juvenile rant. Won't you just let the adults hash this one out?
I find these “he’s a good husband, father, rotary club member, deacon at the church, etc” comments whenever it’s white collar crime by a man (or woman) who shakes a good hand to be extremely nauseating. Like dry cleaned clothes actually reveal anything about the character of a man.
The indictment is so general in the charge made that it is difficult to understand exactly what he is accused of doing. I'm guessing he paid some expenses he justified as related to his work as the developer and wandered into a very gray area. I doubt it is as clear- cut as some are portraying it. Regardless, I feel sorry for him and his family, particularly if he is innocent of wrongdoing.
If you have to throw the Jesus Card as a lifeline for someone who did wrong, they already drowned.
Hugh Freeze uses state money to buy hookers....nada
This guy uses bond monies for bond money projects and he’s indicted....
Should stick to buying clams man
3:37, You hit the nail on the head---I'm 75.
4:50is right. Hugh freeze was a state employee who made a state salary with benefits and was caught stealing money. Where is the justice in this? Is it because he became a millionaire? Is it because he falls under a different set of rules? Let a state employee buy parts for his car to make a repair for less than $100and see how the courts throw the book at him versus someone like Freeze.
Rumor has it that little Jimmy Hood and Donald Trump have the same hairdresser...
An indictment is not a conviction. So hold your horses until this is settled by a judge or jury.
4:18 My guess is it that it is very clear. I believe there is a law about taking bond money and using it for other purposes. If it was not government bond money, sure. You get paid and use the money where you need it most. I remember when this first came up - it sounded very very fishy from the start.
The worst part is, while some of us contractors are insulted that guys like Watkins have such a low opinion of contractors that they think anyone can just wake up one day know how to be one, we all know that he had proper training and credentials as an attorney. And so while he might not know an I beam from a C channel, he should get the legal part right. I have zero formal legal training, only the part that rubs off from being a life long contractor, and I would never make a mistake like this. I don't believe he did either. I believe he did it, but I was no mistake.
I am stunned that F. Mickens has not yet commented on the fact that you posted a photo, Kingfish. He must be at the Laundromat.
Boy I really hate this. I have always believed David to be very community minded and well intentioned, both as a lawyer and developer. I realize he got overwhelmed with way too many irons in way too many fires to effectively manage them all. He lost his way yes but I would still like to see him able to have something other than a ruinous outcome. He certainly has my sympathy as does his family. I wish him well.
Anyone know where the money allegedly went? The recent Madison County indictment mentioned on this blog details some sort of money trail. Seems like it would be easier to track over $500k that was withdrawn in one transaction or even in several smaller ones. It had to hit some accounts, right?
5:07, and 4:50, just what money did state employee Hugh Freeze get caught stealing? Obviously you both like to make up facts to fit whatever narrative you wish to spew. Freeze got caught with his pants (probably) down, along with other issues, but other than using his state issued cell phone to line up hookers for either himself or recruits and the possible cost on the cell bill for those calls, there was no "stealing of money" involved with that 'state employee'.
I say this not in defending the arrogant bastard, as I am not a Landshark/black bear/rebel supporter. But to try to equate the issues with Watkins is sheer stupidity, and I don't like stupidity.
5:07, and 4:50, just what money did state employee Hugh Freeze get caught stealing? Obviously you both like to make up facts to fit whatever narrative you wish to spew. Freeze got caught with his pants (probably) down, aalong with other issues, but other than using his state issued cell phone to line up hooker for either himself or recruits and the possible cost on the cell bill for those calls, there was no "stealing if money" involved with that 'state employee'.
I say this not in defending the arrogant bastard, as I am not a Landshark/black bear/rebel supporter. But to try to equate the issues with Watkins is sheer stupidity, and I don't like stupidity.
As is often the case, I imagine that things are not as black and white as the above bloggers believe this to be. A developer takes funds - be it an equity investment or debt financing - to complete a project. In addition to moving dirt, pouring foundation, building walls, etc. part of the costs of completing the project may well be covering certain operating expenses that the developer incurs while overseeing and managing the project. This can quickly become very grey. Examples (purely fabricated and not drawn from any information related to the case):
Cost of printing project plans for a meeting - clearly a cost of the project
Gasoline costs for the developer's vehicle, which is sometimes used to travel to/from the project site - probably okay, although not 100% project cost
Travel, lodging and meals for a 3-day trip to Hilton Head for a conference on real estate development - a big stretch
It is likely that Hood's office reviewed the financial information related to this project and Mr. Watkins' business and took issue with some of these type costs.
If you would read the past articles, you would know what's going on. He took bond money for the Metrocenter project, and wired it to an escrow account in Meridian to buy a totally different property. The facts are all included in the articles.
http://kingfish1935.blogspot.com/search?q=david+watkins
Can Jim Hood PLEASE get rid of the mullet. Our next governor doesn’t need to look like Billy Ray Cyrus, circa 1985.
You are right, 5:02 am and like many who embezzle, he likely thought he could recoup the money from another project in time. If he had been able to do that, this would never have come to light and his brilliance as a businessman would be lauded. If you deny that as one commenter seemed to do, you haven't been following the money trails in politics.
As someone who doesn't think much of either political party and doesn't suffer from convenient memory loss, the hypocrisy of the reactions when a visible member of" the other party" gets in trouble vs. when your own party member is in trouble is what is stunning in this story.
I remember what was said about Hood when he went after Ben Allen, but now that he's gone after not one but two Democrats, you don't distrust his motivations. Your fall back is criticizing his hair which I agree is as awful as Trump's. Perhaps, both hairdos speak to a lack of taste and a worrisome failed effort to cling to youth or maybe even bad judgement in who you employ.
The hypocrisy is worse on the national stage. It may have started with Jennifer Flowers and the blue dress vs how we reacted with Donna Rice. But, as we've become more politically hypocritical , even admissions of grabbing women with the assumption they would " want it" on a tape is defended. And that allows the defenses of Moore which have ventured into the bizarre with Alabama's State Auditor's " biblical" justification likening Moore to Jesus' father.
Whatever works, right? No matter how insane? No matter what damage to our Nation? No matter what we model for our children? Only our party matters?
Our political hypocrisy would be entertaining were it not that our lack of ethical consistency is glaring to our allies and our enemies as well. We are no longer seen as trustworthy when in times past, we thought "a man's word was his bond". We didn't suffer liars very well.
Family members don't speak anymore over politics. That's how bad is gotten. Blood is not thicker than politics.
But, maybe the Chinese actually characterized us best. " Americans look at a watch, we look at the calendar".
That says rather a lot not just about our inability plan or examine consequences, but the inconsistency of our character as a people. And, those who think this hypocrisy is destructive and just plain crazy can't be heard over the shouting. We just make all the partisans mad when we point out your "emperor has no clothes".
Yesterday on tv, his lawyer-mouth piece, Lance Stevens, claimed Watkins was now broke. Hmm....Just another wheeler dealer skimming and eating at the public feed bin who got a little too big for his britches. From my experience, yes he was arrogant.
As for Ben Allen, more of the same but a louder b/s talker and drinker. Birds of a feather except Allen played in a much smaller sand box.
just another fly
7:38 Did Hood go after Ben Allen?
@ 6:57
Jim Hood will not be our next Governor. The black community in Hinds Co won't turn out for him he's not popular among the black voting community in large part. Your listening to some white pundit that tells you Jim Hood can carry the black vote. Truth is he cant. Get out in the black community and stop listening to the political wannabes of Northeast Jackson or Madison Co.
7:58. No. RSS, the imbecile DA did. He also went after 2 officers in the State Auditor's office over a year and a half ago, and has not set a trial date to this day. He knows his case there is bogus as well.
803...If you the the black voters in Hinds county will be the deciding factor in the governor's race, you should step out of the black community and see that there is an entire state out there.
Who told you that the black community doesn't like Hood? I am not saying they do, I would like you to validate that comment, that all.
"I CALL BULL SHIT".
No matter what any of us think about Ben Allen---he was found guilty !!
David Watkins is much like Allen, he thinks he is the smartest guy on the block and we all see where that got Watkins. What happened to all the money Watkins took on the Farrish Street Project ? How anyone could say Watkins is a nice guy is beyond me but they said the same thing about our resident felon---BEN ALLEN !!!!!!
No, 7:38, Robert Shuler Smith went after Ben Allen! And it absolutely amazes me how he was ridiculed for going after that crook, yet Jim Hood is praised for going after Allen's BFF!!!
Jim Hood as Governer would be the biggest catastrophe in the history of Mississippi!
Give it up 9:37. You're a goner. Plain as day who you are. Save your breath for testimony under oath.
I know MANY in the black community who are utterly disgusted with Hood and his office. I'm an African American (though not a Hinds County resident) who has a great many co-workers and church members who say Hood will never get their vote! Anyone with eyes can see that he has allowed Stanley Alexander to use him and his office to get back at Hinds County DA Robert Smith for bad beating he suffered in 2015 election. Alexander was not popular in the last election and is even less popular now since indicting Smith in Rankin County in hopes that they will send him away.
And 8:35, while there is entire State outside of the "black" community, Hinds County is the largest County in State and is predominately African American, or as you would say, "black".
And the African Americans in the neighboring counties don't like it either. Many of them have seen how how Caucasians and envious Uncle Tom "Blacks" have tried to destroy those seeking to make a difference.
I, for one see what Jim Hood is doing and my hope and prayer is that God would expose both he and Alexander and all who are a part of or involved in this evil plan. My prayer is that they will all be put to utter and absolute shame!
Hey 9:36!!!!!!!! Your signature !!!!!!! Returns. Get a life other than casinos. Haven't been there much lately, have you?
Hugh Freeze didn’t buy hookers with state moneys he was indeed being paid by the state but it was his money which he was free to do whatever he wanted. He didn’t pay them out of a school account but was his personal funds. Also this state has excelled in every facet imaginable under Phil Bryant (said no one ever). Someone please explain what Phil has done to move this state forward and why some of you are so loyal to him and/or the Republican Party without saying how bad dems are. Jim Hood has done more for this state than Phil and simply disliking someone b/c they have a D or R by their name is lazy and petty. Try and think objectively and apply some level of analysis for once. If you look back through old kJ posts you’ll see AGs office has been attempting to prosecute wrongdoers and bringing money to this state and you will see the current administration struggling to break even. Some of you would die for your political party in hopes that your life will be made “great again” while not understanding that your local elected officials have more of an impact on your life and the reason you’re in a position where you think your life needs to be made great is because your local reps have failed. But you will continue to support them because it’s easy convenient, the other party is evil and understanding or forming a new party requires too much effort.
@ 5:02 Thanks. Until this, I had no idea who Watkins was. Not familiar with metro developers.
10;17, you got that totally wrong---I just don't like David Watkins because of his arrogance and I don't like Ben Allen because he is not the person you good hearted stupid Bastards think he is---HE IS A CONVICTED FELON !!!!!!!!!!!!!!
Both Guys are day dreamers with no clue regarding the positions they hold or have held. Ben Allen, alone has caused more damage to downtown Jackson than any other person living or dead. If you don't believe me---ride down Capitol Street, Pearl Street, Amite Street, Farrish Street and any other street in the CBD. The "FELON" need to go!!!!!!!!!!
I agree with 2:08,4:18,8:41, and a few others not ready to hang him. Bottom line, yes, he is a good man.
The majority of the rest of you Watkins, Allen, and hair haters better go take a look in the mirror (at your own hair or lack thereof, and deep into your eyes into your soul) and stop your judging and criticizing. Never, NEVER celebrate a man when he's down.
Someone of the above posters really has got it "in" for Ben Allen. Honestly believe he will have the "guilty" verdict overturned. Guess that poster wants to make hay while the sun shines.
Several people who have businesses or offices in the downtown area have served Downtown Partners. Does that automatically make them "a best friend of Allen's"?
Back to Watkins. There were problems with his paying on Farish Street. Seems to me that each deal was an attempt to "get out of the hole" on the previous deal and live well in the meantime. Wonder what will happen with the old Courthouse now?
1:03,
I do not believe anyone was celebrating the trouble Watkins is in or the trouble Allen has been in but they both are arrogant self centered adults that should not have taken on the task they began---again, Allen has single handed hurt Jackson and Watkins appears to be a thief---I have a right to my opinion since I know both very well---they are losers and hid their stupidity with arrogance. I wish both would move from this area and never return.
Stop our judging and criticizing? Did you read any of the information concerning him since 2012?
So many good men sitting their butt in jail right now!
The standard of proof is higher in a criminal case but the facts underlying this indictment have already been fleshed out in the securities fraud case.
http://caselaw.findlaw.com/ms-supreme-court/1851212.html
And how much criminal law experience does Lance Stevens have?
1:03. Chill. There is no "majority of the rest of you". The posts are all from one sick, pathetic, diabolical, bitter person who is elbow deep in trouble and blames the world for her sordid, meaningless existence and situation.
10:21, not liking Hood does not equate to a love affair with Bryant. You ask what Bryant has done to move the state forward, i'll take the bait and defend it (while not being a supporter) and take you one on one with your guy Hood. You claim money Hood has brought to the state ignores the how, why and where from any such money came. Suing businesses so that your campaign supporters can make a lot of contingency fees is not the way to run a government. If you want to talk about his money to the state, measure it against all the money he pays of it to those trial lawyer supporters.
Lots of choices for comparison, and the match up you suggest cannot be on the ballot in 2019.
10:21, not liking Hood does not equate to a love affair with Bryant. You ask what Bryant has done to move the state forward, i'll take the bait and defend it (while not being a supporter) and take you one on one with your guy Hood. You claim money Hood has brought to the state ignores the how, why and where from any such money came. Suing businesses so that your campaign supporters can make a lot of contingency fees is not the way to run a government. If you want to talk about his money to the state, measure it against all the money he pays of it to those trial lawyer supporters.
Lots of choices for comparison, and the match up you suggest cannot be on the ballot in 2019. Let's compare your guy to actual potential opponents.
5:28, plaintiff's lawyers generally charge contingency fees; defense lawyers charge by the hour. You imply that Hood's motive behind his lawsuits is to generate contingency fees for his buddies. My question is that if the State is the plaintiff (as is the case in all of Hood's lawsuits), how is it that his lawsuits generate contingency fees for his buddies (as implied by you)?
@10:00, Google "Jim Hood Outside Counsel." (And please ask better questions; you're slowing down the rest of the class.)
Did David pay back the transferred funds at some point? Does anyone know?
Attn. 8:03 Surely that is a rhetorical question you are asking!
So, who did he "steal" the money from? Did they turn him in? I thought this was all settled with the civil stuff.
2:06 pm I think the objection is to criticisms that are not related to the charges but are simply juvenile name calling or made up .
Since the Jackson Metro area is rather a small place, especially when the person has enjoyed social prominence, it is glaringly clear that many of those who say they know the person, don't. They are inventing smears either in their enjoyment of seeing those they envy mess up their lives, or else for political purpose. As a result, you also defend behaviors far more egregious if you like the person's politics.
Many of you come across either like Gladys Kravitz on steroids and the poster children for hypocrits.
Is this man still in jail?
You never know if he was a partner in well known real estate developments like the Duling Schoolhouse in Fondren. He was the lawyer for JPS for decades and he may have cooked up the whole idea of converting the Duling school to a public-private partnership.
He was not a partner with Mattiace and Peters in the Duling School Redevelopment. I sure Mike and Andrew already knew that Watkins did not have a clue regarding the development business.
I don't know of a single developer that does not move funds around but in most cases it's private funds not bond money. I feel sorry for David because he is very much like Ben Allen---HE DOESN"T KNOW that HE DOESN'T KNOW !!!!!!!
2:05 and 11:39 sound like a bitter person fired from a job for squealing and then arrested for stealing money.....such sad hatred. So little time left.
1:36,
I've been in the development and real estate business for over 35 years and I have been very successful. I do know what I'm talking about and it's not hatred but wanting what's best for Jackson and that does not include "Dumb Ass" Ben Allen.
2:17 see 1:36. Yawn.
11:39 The money WAS all private money. So, I guess since it's Watkins involved, there are different rules in play.
AMEN 8:44!
And please, 7:36, do not speculate and comment when you don't know what you're talking about. THANKS!
Hard for me to understand why anyone Watkins' age would put himself in such a financial bind that he would need to do what he apparently did. . . if memory serves, he practiced law for many years. Then about maybe 10 (or 15?) years ago, he started this whole "real estate development" thing. . . and it seems that he pretty quickly got in way over his head. He could have just kept practicing law and been fine. . . right?
My personal theory, not based on any special info, is that Farish street was a money pit for him. If you remember, Farish Street was stuck and the city leaders begged him to come in and get it moving. However, Farish was a snake pit and probably cost much more than expected. Got in over his head on projects and then here we go. He had helped put together some really nice projects before getting involved so he was on a nice roll.
He is awaiting arraignment. Not arrangement.
Kingfish,
David Watkins and Ben Allen have been in way over their heads for years. David when he gave up his law practice and when Allen stopped selling class rings. It's a proven fact that both guys are incapable of making the right decision---Ben Allen is a convicted felon and David is on his way to being a convicted felon. Why can't DJP see that Ben is not educated or trained to be a downtown revitalization specialist. There are two people that can handle this job---one is in Chattanooga and the other is in Little Rock---proven performers---DJP's Board must interview the people and try to hire them---It's for the good of Jackson---what is it going to take to see the light??????
The presumption of innocence is a lofty goal, but not so much applied in real life. Who in this thread hasn't allowed assumed he's guilty? It doesn't matter if Watkins is guilty or innocent, or even if he is acquitted. He will always in the eye of the public be guilty. So, at age 68, he's pretty much toast. I feel sorry for the old man. He was on a roll doing some difficult things for Jackson that nobody else would do. It's clear though that he must have pissed off the wrong guy.
Of course, I am biased. I've known Watkins for almost 40 years and have worked with him on some difficult and complex matters. I have great respect for his integrity, hard work, public service, and charity. While it seems that most folks here have their minds already made up, I'm going reserve judgment until after the trial.
7:41,
I agree with you on some of your comments but David was not doing anything for the City of Jackson---it was all about "THE MONEY". I don't understand why people can't realize that it's always about the money. David saw an opportunity to live like the "Big Dogs on the Porch" but had no clue of how to be a developer. If I'm not mistaken I saw David driving a $100,000+ Mercedes not long ago---he could never afford that car being an average lawyer for JPS and closing loans. Don't ever forget---"IT'S ALWAYS ALWAYS ALWAYS ABOUT THE MONEY".
Post a Comment