Jackson Jambalaya

I wonder who drafted that agreement? I thought Baker Donelson had no involvement, right?

Wicker knew what was up, and bought in anyway.

If Alexander and Seawright get off, then there is no justice in this world. To hell with those guys and their criminal behavior! But this is Mississippi, where being sorry and going to the local megachurch are good enough.

"I'm real sorry I stole your money, but I have donated half a million to Prosperity Gospel Baptist Church and am meeting with my pastor weekly in his Bridgewater home to atone for my sins. I'm even taking him and his wife to Aruba next month so I don't miss a prayer and counseling session!

"I'm real sorry. I am. Trust me."

what a wasted life, i'd rather live in an honest life in a trailer than this.

Interesting. I know two guys who fall a little short of being "accredited" who were approached.

One says that the pitch was from, let's just say a very close associate of one of the main pitchmen, and that it was basically, "If you can scrape together 10 or 15 thousand, we've got this great opportunity."

Of course, this was fairly recent, and beggars can't be choosers at the end of a Ponzi scheme.

I heard Miz Vickie Lynn put down her CCJ/JCC tennis racket and went to her grandson’s baseball game. She was overheard bashing Kingfish saying that the blog was spreading rumors about her family. Facts are facts, Honey. She might want to go ahead and enroll in one of those online real estate courses. Tennis doesn’t pay the bills.

The last sentence of the first paragraph of the Subscription Agreement reads as follows:

"Subscriber hereby specifically accepts and adopts and consents to be bound, upon acceptance of this subscription by the Company by each and every provision of the LLC Agreement, all of which is incorporated herein by reference as if set forth in full."

I've never seen language in a contract like this: "...all of which is incorporated herein by reference as if set forth in full." So, is the Subscriber (i.e. investor) given a copy of the LLC Agreement, or are they supposed to rely on the incorporation of the LLC Agreement terms into the Subscription Agreement? The SA is pretty thin - most of it covers the accredited investor legalese, which has nothing to do with the terms of the investment or governance of the LLC itself.

Then, paragraph 11:

"Subscriber is subscribing for the Units solely in reliance upon the information contained in the LLC Agreement and Subscriber's own business judgment and independent investigations.
Subscriber agrees not to rely on any statement not contained in the LLC Agreement."

Okay, so the Subscriber/investor shouldn't rely on anything NOT contained in the LLC Agreement, which they have or have not been given access to?

Paragraph 15(D):

"Any prior materials or information received by or presented to Subscriber are superseded by the LLC Agreement."

So, the marketing materials and sales pitch that got the Subscriber/investor to this point are potentially moot because of the terms in the LLC Agreement that they haven't read?

And H:

"The Subscriber, by execution hereof does hereby adopt, accept and agree to be bound by all of the terms and provisions of the LLC Agreement and does hereby agree to perform all obligations therein imposed upon members of the Company holding these Units. The Subscriber agrees to execute the Counterpart Signature Page to the LLC Agreement attached hereto."

So, the Counterpart Signature Page is attached to the Subscription Agreement, but not the LLC Agreement itself? The Subscriber/investor is supposed to sign a page that will be attached to an LLC Agreement that they have never seen or read?

None of the above necessarily points to anything fraudulent about the underlying timber rights, but this has hair all over it. Did any of the investors have their attorneys review these docs? I wouldn't sign up for this even if the "Property" as disclosed in the term sheet were US Treasuries.

The address for Alexander-Seawright in the docs is not Baker Donelson's office. It looks like Brent Alexander's home address. At lease BD can point to that trivial fact when they are hit with multiple civil and perhaps a criminal suit.

The arbitration clause is not surprising. There is nothing that BD likes more than a good, old-fashioned, and abusive arbitration clause. How ironic it will be if these claims of large firm attorneys end up getting compelled into arbitration. I bet that they won't appreciate having their day in court denied.

So, Alexander and Seawright were selling equity interest in an LLC that would then loan the capital raised to Lamar Adams (presumably the "Broker") so that he could purchase the timber rights. Adams would pay the LLC 12% interest. The investor in the LLC would get 10%, and Alexander and Seawright would get 2% as a management fee.

What is conveniently left out of the docs is that Adams was paying Alexander and Seawright a finder's fee to bring him capital. So, if I invested in this LLC, effectively a portion of my investment was going to Alexander and Seawright (the individuals, NOT the LLC) off the top.

I am no securities law expert, but I believe that sort of thing is required disclosure.

Here's how it worked. Madison and NE Jackson are swimming with wannabe, coattail riding, hangers-on that have a little bit and will desperately follow anyone that seems to have it going on. I believe they call it looking for the the big lick.

How is that "mediation" working out. There is a sucker born every minute.

I did not see where the "broker" and/or "sponsor" were parties to this agreement.
I assume Lamar Adams was the broker in this agreement but it is hard to tell. This agreement raises some basic questions under contract law.

So if lawyers draft documents that are used to fraud people are they part of the fraud?

Looks all legal to me!

Pretty much like what the bank give you to sign why you buy a used car!

Seawright did it. I don't know if he possesses the mother lode of dark secrets on you clowns or what, but the people buying into the theory that he didn't know what was happening has gotten mind-boggling. I guess to a certain segment of the local economy, this is just a cyclical glich. Like that Leroy Paris guy, the crooked ex priest broker, ect.--it will be like water off a ducks back for Seawright. I bet he hangs it on the fat sweaty lobbyist guy--he seems less sympathetic and his braggadocio is legend (including at events last weekend).

20 days since the “TIM-BERRR!” news broke and finally we get a little information like this.

If these two Ponzi scheme sellers weren’t employed by a high powered law firm with friends in high places and political contacts, one can only imagine the crucifixion we would be witnessing.

The safe bet is they get off lighter than ole Tort King Dickie Scruggs did. Wonder who the fall guy(s) will be?

The "agreement" is very inartfully done.

The term "Sponsor" is not defined in the Agreement. Who is the Sponsor? There are some interesting Sponsor obligations on page 2 in the "Additional Information" Paragraph.

Trying to figure out who the "Sponsor" is too. Check the Governance paragraph on page 2. "The Sponsor's designees will be the managers of the Company..." The Company is Alexander Seawright Timber Fund I, LLC. Seems like the "Sponsor" would be Alexander Seawright, LLC? Wouldn't they be the only party that could appoint managers of Timber Fund I? Guess it depends on how the ownership of AS, LLC was structured.

Somebody get out the white board so we can flowchart this mess.

CCJ dropped them from membership as soon as this news broke.

May 21, 2018 at 8:49 AM
&
May 21, 2018 at 8:59 AM

Two thumbs up!!

Vickie Lynn can gripe about JJ shaking up her little CCJ bubble life, but the fact is Lamar did that when he set up a Ponzi scheme to steal money. In fact, she wouldn't even have her CCJ address if hubby hadn't stole millions to fund it. Facts are funny things.

Sweetie, if you're looking for a culprit, try rolling over in the morning and look at the guy who shares the bed with you (at least for a few more months).

I've said it before and I'll say it again:

If you are running an investment practice where most, if not all, of your investment dollars are being put into one timber rights company that turns out to be nothing but an old fashioned fraud, either your incompetence as a financial steward is epic to the point of criminality, or you are complicit in the fraud.

There is no third option.

5/21 @ 11.55 AM

Amen! Ignorance or malice, and neither is a good answer.

To 8:59 & 11:48
Fact is many negative and unsustantiated comments have targeted Vicki Lynn and her children....And why? They aren't being charged and are suffering enough without these cruel natured remarks. You almost seem giddy about their troubles. That's pretty sad.

I was also with Mr. Alexander at at event last weekend and his pompous attitude was revolting. Comical though since everyone in the room (a) sees him for the arrogant ass he is, (b) knows he did it and life as he knows it is in fact over, and (c) can't stop laughing about his tanning bed color and a we-know-it's-coming orange jumpsuit. We did feel sorry for his wife. Poor Jane looked so uncomfortable and as if she was about to walk the plank. I'm sure she wants to push him overboard. It was obvious to all that they were going through the motions and trying to save face. Too late for that, Alexanders. You may want to relocate to your vacation home. We are on to you and when we see you out at nice restaurants, it makes us all livid because several of us paid for that. Hope you enjoyed it.

"Prior to funding the Note, Sponsor will inspect the property related to the Timber Rights, must receive the original, executed Note and timber deed and will inspect the executed agreement(s) with the timber mill(s)."

I heard there has been at least one "layoff" at Pinnacle. Who and where else have been "laid off"?

They aren't being charged and are suffering enough without these cruel natured remarks.

Oh, cry me a river! First, no one here mentioned the children. Second, understand that Vickie Lynn has lived a rather luxurious life at a prominent address which was funded by stolen money. There is no denying that. Sorry, but the facts are what they are.

Regardless of whether she knew or not, she doesn't deserve to continue on in her high-dollar lifestyle just because she didn't know those dollars were pilfered from her friends and neighbors.

And let's talk about suffering, shall we? Perhaps you'd like to discuss with the victims of Lamar's crimes about how tough it is on poor ol' Vickie Lynn, having to bear the shame of her husband's criminal activity and her losing her court privileges at the CCJ. Not all of the victims can afford to lose $100K without breaking a sweat. There are people who trusted Lamar and his agents with their savings who were wiped out, all so Lamar and Vickie Lynn could live the high life and take fancy trips to the MLB All Star game. I'm sure those people's hearts bleed for Vickie Lynn not being invited to all the social events she once attended.

Am I giddy that she is finding herself in such a situation? No, but neither am I all broken up over her having to bear the hardships of her husband's downfall, particularly when she was quite happy to indulge herself and her family when Lamar was bringing home other people's money.

@1:38 do tell who has been laid off from PTC?

CCJ didn’t even kick them out. That’s incorrect

1:58
You need to calm down and keep your focus on Lamar. That's the subject of this blog after all.

Attn 2:17 I was told someone named Shell is no longer employed there. I don't know any others.

2:38 - are you the designated blog police? Asking for a friend.

I know a very decent and well intentioned old gentleman that lost a lot of money in this scheme, and I take joy in Vikki Lyn and kids currently situation and hope she continues to arrogantly lash out at others. Her husband created this crappy situation they are now in and she anytime her or her kids are harassed or ridiculed, there is only one person she needs to be blaming. Meanwhile, i’ve got the popcorn and am continuing to enjoy this train wreck.

OPM---Other People's Money--

It's amazing what people can do with it.

They stole that money from people who earned it and worked very, very hard to
accumulate it....something they..the Adams...never learned.

Greed comes before the fall.

2:38 - thanks for your opinion. But understand, among I am sure several others - I disagree with your protection of poor wife.

Frankly, I found 1:58's commentary absolutely 100% in line with my thoughts on the subject. While I am sorry that poor wife is going to have to face a lot of change in her life (which I hope includes having to go visit her husband on the outskirts of Yazoo City). She won't get to live the fancy lifestyle, attending the fancy parties, and acting like she has a lot of money any more - because the money she was flaunting was stolen from plenty of people, including, I'm sure, some of her (former) friends who would normally be at those same functions. But some now will not be able to because her husband stole hundreds of thousands of dollars from those friends so that she could live the lifestyle she will be giving up - and should have given up three weeks ago.

Sorry - I have no love lost for 'poor wifey'. She enjoyed the benefits of the crime, she can now live with the consequences.

still no forester name? which lumber mills name were used as bait?

Something I have yet to see pointed out: if an "investor" is some doctor, lawyer, US Senator, etc., that has been reporting a substantial income for years, that is one thing, but if there are any folks on the "investor" list whose tax returns don't support having a spare 100K to "invest," that will lead to an expanding of the investigation. And anyone who "invested" and got paid, but should have been dubious - a heart surgeon who doesn't know jack about the timber industry isn't surprising, but other "investors," maybe not so much - could lead to an expanding of the investigation.

I am going to guess that until the various Feds currently involved and potentially involved decide they know what they want to know, there won't be a lot of press releases from them. I am also going to guess that while "local politics" might be able to contain some of the damage, the SEC, any other states, and especially the IRS, won't be impressed by any pushing and shoving from Mississippi big-shot bubbas if they get on the scent of something. And lastly, I am going to guess that the instant plea from Adams somehow figures into it all.

Can someone explain how 10% is a great deal?

S&P 500 has gained more than 10% in 6 out of the last 7 years. I made 18.5% last year AFTER fees.

How the f-ck is this a 'good deal'?

@12:51 Uh, precious Vicki Lynn made her bed, it's the children who are the victims. But if she wants support and empathy, then she will need to look in the mirror of truth and take ownership for being an enabler. She's no different than Carmela Soprano......Vicki knew all along, yes, she knew - but thought "they" were protected....by the Mississippi Mafia! lol :
]
https://www.youtube.com/watch?v=bzVeLjj6Ao8

4:40 - I imagine investors bit on the ‘guarantee’ of 10% return. Wall St makes no such guarantees.

When you see the wording "could not be recorded" in a real estate transaction run away as fast as you can. It does not make sense to me that 250 people fell for a scam this simplistic.

Lamar Adams’ greed is bringing great pain down on his family and I could care less. Vickie Lynn is in the middle of a serious life changing wake up call and she and her children will have to adapt and overcome. She should be greatful they live in America where she has an opportunity to work her ass off at a minimum wage job so her children don’t starve. It will be a major adjustment for her and kids. Welcome to the real world Vickie.

Now that Vicki Lynn has thrown an attitude bashing the blog, I have a few suggestions for her new life:
1. Cancel you weekly blowout appointment and buy some shampoo, a flat iron and a hairdryer. Wavelengths is no longer in your budget, Honey.
2. List your tennis racket on eBay. You won’t need it again.
3. Move. Far away. Go back to you maiden name.
4. List your furniture on Craigslist, don’t forget the light fixtures.
5. There’s a market for gingerly used designer clothing.

Having almost been a victim of a scheme like this from a "former" friend of mine, and listening to "one call that's all" on the radio this morning, I have to admit, Richard S. was correct in his comment about folks being able to collect any of the money they invested. He said, when you see this, narcotics are typically involved, and also women of low morals. The money has already been spent on those. Now what he knows about this particular case is between him and his mouth, but that ended up being the case when I almost got duped

It's "I couldn't care less," not "could care less."

Suspect Lamar has a bundle buried in a hole somewhere. If not he is not much of a crook.

@3:34 You are incorrect. Lamar learned very much so about working hard to earn money. You don’t know what you are talking about! His daddy and mom taught him what hard work was! You can lead a horse to water but you can’t make him drink! People like you make me sick.

@728 - VL and Lamar’s children are grown, have careers, and have children of their own. Both are great people. You seriously have no idea what you are talking about.

This entire Adams Family meltdown is so familiar and so eerily
similar to the Bernie Madoff Ponzi Scheme:

1: We can let you in...if you won’t tell anyone
2. The conspirators were on a secret floor that no one had access to
3. The wife, sons, brother, and Madoff enjoyed a luxurious lifestyle
4. All confessed they knew nothing
5. All family members changed their last names from Madoff to their former name
6. The stigma caused both sons to commit suicide
7. The wife is now a recluse with no contact with her family

This has really devolved into pettiness espoused by keyboard jockeys.

Lamar and his crew should go to jail for a long time. The rest of you are getting too much pleasure out of this. And if any of you are lawyers worth one shake of salt, you wouldn't be playing lawyer on JJ.

Heloise - you forgot to list jewelry, luxury car/s, and American Express Titanium/Centurion card. Now she will have to mingle with the unwashed masses and possibly take a job that "Americans won't do."

How that scam sold and survived that long is a great mystery.

What will be interesting to see, if we ever do see, how many attorneys fell for this because they ignored that clause about recording deeds.

This thread is getting good!

It really does take a particularly brazen person to show the amount of cheek Vickie Lynn is showing by griping about Jackson Jambalaya when her damned husband PLED GUILTY! He, by his own admission, admits to lying and stealing millions of dollars, and Vickie Lynn has the absolute nerve to point fingers at anyone other than Lamar. Seriously?

Don't even try this "they are suffering" bullshit. Are we really at the point in society that someone will actually try to make the case that a woman who lived elegantly off stolen money is "suffering" because she now has to shop at Belk instead of Maison Weiss and is forced to drive a Toyota instead of a BMW?

I don't know her, but I know the type. And the fact is that she is not entitled to a life of excess. She may think she is because Lamar did all the bad stuff, but no one is guaranteed a life of privilege, and it takes colossal gall to think she is a victim when there are people who lost hundreds of thousands of dollars to her husband's fraud, a significant portion of which went to buy her a house, a car, clothes, jewelry, and fancy vacations.

Keep bitching about this website, Vickie Lynn (we know you are reading). You are delusional if you think Jackson Jambalaya is the problem here.

No clue if his family knew or how much they knew, but anything they received as a result of his robbing others should be returned. I'm guessing they are able-bodied adults who can get a job and recover or at least live a nice lifestyle if they choose. Who wants to live on money that is stolen from others? That should be pretty easy to figure out if they choose to do so.

Who is Shell from PT and what's his/her roll? I can't figure out who did what - know the 2 attorneys that were in the mix but are there more? This just keeps evolving.

Depending on the exemption used, Reg D allows up to 35 non-accredited investors. It is likely some investors did not have the assets or income to be considered accredited.

Something does not add up. Class 1 units totalling $400,000. Their fee is 2%, or $8,000. Barely enough to cover the cost of the agreement and the tax returns. Not much there. Sounds like an LLC among friends. Unless there are more classes of units, which could add up to big bucks.

If Lamar was sliding AS,LLC fees for referrals, it should have been disclosed.

Need the LLC agreement to see how much was invested and who the related parties are.

I agree with 7:28 PM. Vickie Lynn and family will have to adjust their lifestyle but at least they live in America where opportunity exists. I don't know the Adam's children but I sure hope they are adjusting their retirement planning cause daddy's big nest egg won't be there to inherit.

9:00pm - I don't see your point.

1. We can let you in...if you won’t tell anyone
I'd say that's con artist 101. Give the mark a sense of exclusivity and importance while keeping prying eyes away. Not unique to Madoff nor to Adams.

2. The conspirators were on a secret floor that no one had access to
Did this happen in the Adams case? Yes, the details were hidden from investors through a morass of shell companies and legal documents (again, common con artist behavior), but I've not heard of a secret floor that only Madison Timber personnel were allowed to enter.

3. The wife, sons, brother, and Madoff enjoyed a luxurious lifestyle
Of course they did. The chief reason people steal money is to use it for their own purpose, including indulging their loved ones. Not unique to Madoff/Adams.

4. All confessed they knew nothing
Again, not unique to Madoff/Adams. This is what every criminal and every criminal's family does.

5. All family members changed their last names from Madoff to their former name
None of the family members have changed their names from Adams as a result of Lamar's crimes.

6. The stigma caused both sons to commit suicide
Neither of Adams' children have committed suicide.

7. The wife is now a recluse with no contact with her family
It doesn't appear that Vickie Lynn is hiding away from the public or her family. The fact that she went to her grandson's baseball game this past weekend shows this isn't the case.

Some of these things may come to pass (I certainly hope no one commits suicide!) but I just don't see how these two situations are "eerily similar" outside of the use of a Ponzi scheme to defraud investors and the rather large scope of the fraud.

@8:26...there's always money in the banana stand...always

So, supposedly Adams required a minimum $100k investment. According to the agreement, AS LLC was breaking that down into $25k minimum for a total of $400k and a potential $8k management fee (after capital is returned). Yea, ok.

Whoever it is that keeps trying paint these guys as some big players in all this can stop now. LOL.

Too bad the Adams family aren’t a bit younger with kids still in high school. Mr. Adams does not need to serve a day in prison. How about the following instead?
1). Take kids out of fancy private school and put them in public school (and explain to the kids the reason for the change).
2). Kids have to go to Hinds rather than Millsaps or out of state.
3). Parents need to drive eight-year-old cars with cracked windshields.
4). Live in a house in say Leftover or Old Lake Trace.
5). Live in a house where the front door is not 200 yards from the street.
6). Worry about making the mortgage and credit card payments each month.
7). Of course no more CCJ, River Hills Club, or JYC.
You get the picture.

Most attorneys know, or should know, a deed does not have to be recorded to be valid. Once it is delivered and accepted, it is valid. Recording a deed just creates a rebuttable presumption of delivery and informs the public of the conveyance.

...it takes colossal gall to think she is a victim when there are people who lost hundreds of thousands of dollars to her husband's fraud, a significant portion of which went to buy her a house, a car, clothes, jewelry, and fancy vacations.

BOOM! ROASTED!

9:27: No kidding. However, the requirement that it couldn't be recorded was the red flag.

Kingfish, this is 9:27 - exactly my point - should've been a red flag.

If someone offered me a deed I couldn't record, I'd offer them a check they couldn't cash. Just sayin'.

@ 8:22 am

#8....Both crooks will be enjoying 3 hots and a cot in Federal Penitentiary
enjoying that 6:00 am wake up call every morning....they closed
down most of the Club Fed Prisons a long time ago...we will see where he
ends up.

I am not an attorney, but without recording, how would you be protected against any creditors who may have liens in the future or any transfer of the property itself to a third party? How could someone expect 12 to 15% return (plus broker fees and ultimate additional profit to Madison) on timber investment consistently over many states? Amazing at face value.

Can you imagine being under house arrest with a wife who has lost all income and country club privileges? I hope the feds will give him credit for "time served", because I am pretty sure he is earning it.

I heard Mike Billings is sweating bullets. He might spend all of his dirty money on legal expenses trying to avoid prison. But a couple of years in orange will get him off his high horse. No one in prison will be impressed when he goes into his namedropping routine.

I'm sure he's living in the "Dog House"......not with her....as many
husbands have slept in various places in the house...garage..shed..
tents...don't think the Judge will give him credit.

VL has her own family money. Plenty. And yes he will receive time served for home confinement.

Amazing. In all these threads when the Adams family money is discussed, it is always someone else’s money. The kid’s in laws have money, VL’s family money and Lamar’s stolen money. Where is the money they earn like the rest of us? I can just hear VL and Lamar complain about things said here. I am sure, positively sure, it is because everyone is just jealous. Same song, same dance that they have always had and taught their kids. ALERT..... no one is jealous. And thanks VL for chiming in at 5:05.

This Adams guy lived in a house in Ridgeland until at least 1992 that was owned by his father in law.

647. You are very good in your investigating. Who cares? Lamar deserves prison, which he will get. Vicki did not know he was a crook. Why does anybody bring up his wife or kids?

How is it that Roger Wicker's investment was exposed while virtually no others were. Inquisitive minds want to know!!!

Public officials have to fill out disclosure forms. Duh, McFly.

According the Clarion Ledger, Jones Walker may have thrown Butler and Baker under the bus, basically saying their folks knew several years back something was amiss. On the other hand, some folks might wonder why they didn't notify anyone. And it appears the SEC isn't kidding around. This may get interesting soon.

Here is the latest from the Clarion-Ledger as of May 22...it appears that Walker-Jones law firm knew something was very "smelly" way back in 2014 and advised their clients to stay away from this investment:

https://www.clarionledger.com/story/news/2018/05/22/law-firm-warned-clients-years-ago-against-investing-ponzi-scheme/628471002/