Jackson Jambalaya

The unwashed masses wants names. Give the people what they want.

Lots of guys wanting to be a Vandevender. Keep dreaming!!

But the lawyer who was selling these didn't work at Butler Snow, right? Wasn't he at another big shop a few miles south on 55?

Names! Names! Names! Names!

Is Pinnacle Trust involved? This makes it look like they are: http://www.formds.com/issuers/madison-timber-fund-llc

Name Names!

"Whoever works his land will have plenty of bread, but he who follows worthless pursuits will have plenty of poverty. A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished." Proverbs 28:19-20

Pinnacle Trust is not involved. That is an old filing that never got funded.

Anybody know who Marcie works for at BS?

The irony of the firm's initials is not lost on its partners, I'm sure.

Bullshit 9:46. They tried to sell it to me

Unbelievable! Can not believe folks with law degrees actually fell for this.

Curious though, why is it "interesting (that) Butler Snow helped Mr. Adams form one of his companies?" Law and CPA firms do this often but it does not tie the firm into whether the business is legit, or not.

I'm going to throw this real life story out here as a learning tool. My friend, also a Land Surveyor, was hired to survey some 80 acres of wooded property down in Jefferson Davis County a few years ago. An elderly woman was his client and the only one living on the place. All the heirs to her estate lived in Chicago. He performed the survey of her wooded tract of land. A few months later, the elderly woman died. My friend the Land Surveyor was requested to show up at the property the week of the elderly woman's funeral to show all the heirs that were in town for the funeral, her property, which would become their property. What was once wooded didn't have a tree on it. Absolutely freshly clear cut. Come to find out, some Hucksters down there went to the Courthouse, paid the elderly womans property taxes, then showed the tax receipt to a tree cutting outfit who then cut all the trees and paid the Hucksters. The lesson here is you better have somebody keeping an eye on your remote property should you own such!

@10:07, if you can't believe it, then you simply need to meet more people with law degrees. ;)

If something is too good to be true, it probably is! I imagine lots of booze and hookers were involved to seal the deal.

"never got funded" = couldn't find enough suckers to make a go of it.

There's a difference between loggers and timber pimps...and you better know the difference. Timber Pimps abound in the State of Mississippi.

In Jackson, the criminals drive hoopties (or gray pickups with tags), listen to rap music, point a gun at you, then take your money. They might steal a hundred bucks and leave you short of cash.

In Madison, the criminals drive fully loaded Silverados with Yeti Cooler stickers, listen to country or contemporary Christian music, smile and shake your hand, then take your money. They will steal tens of thousands and leave you destitute.

I'll bet a buck and a quarter that there's someone on this site who attended church with Mr. Adams.

KF, don't be a Pontius Pilate and wring your hands over this! GIVE US THE NAMES!

@ 10:07am yes. amazing that big firm folks fell for this. In 30+ years of corporate law practice, I have helped organize hundreds of LPs, form LLCs and incorporate business corporations for clients. I always have an idea about the quality of the venture and the character of my client. But, to your point, I generally have no control over the daily business operations post-organization. I guess it does show, one never truly knows another's intent.

There is a sucker born every minute.

I met with Mike Billings, one of the brokers. After hearing his pitch (which included name dropping the who’s Who of 39211 investors), I was turned off. Thank goodness I didn’t fall for it.

And their friends will get on this site and say they shouldn't go to jail if they pay it all back.

I hear Pinnacle Trust is changing name to Nadir Trust...

Lamar is a funny and engaging guy, but this ain't his first rodeo.

Just like pussy, the lure of easy money makes men do stupid stuff. In another life I was part of a large team of investigators investigating a similar scheme with more than 250 victims (suckers).

My interviews of victims including a deputy district attorney, chief of police, and a couple of doctors.

The risk going into the investment should have been realized when investing in something called the "Madison Timber Fund.""A fool and his money are soon parted."

Just Google Madison Timber SEC Form D and you'll find the names fro all you inquiring minds.

Was one of the "promoters" a physician who recently bought a Porsche with an automatic transmission?

Might explain Sunday's shenanigans...

The biggest shock here is that lawyers trusted other lawyers....

Just like pussy, the lure of easy money makes men do stupid stuff.

Thank you, Michelle Wolf, for your characteristically urbane input.

Not insured by the FDIC

@ May 1, 2018 at 11:34 AM

That was good. Got a chuckle from it.

@ 11:02am

In Madison, the criminals drive fully loaded Silverados with Yeti Cooler stickers, listen to country or contemporary Christian music, smile and shake your hand, then take your money. They will steal tens of thousands and leave you destitute.

But yet, they're more leery of the black guy. ;-)

Madison? Thought this scam went down in Jackson, at the "Jackson" Country Club!

Not only did they "move on up" in 2010, but the kids got major upgrades to a couple of mini-McMansions in Bridgewater. Sure hope no retirees without other investments were scammed in the process.

From a very reliable source: The FBI came a knocking on Mr Adams door on Friday.

They shouldn't go to jail if they pay it all back.

SEC Form D says:

Lamar Adams
Stacey Wall
William McHenry
Joseph Branscome (would this be Brad Branscome? Background fits.)

JJ scoops em again.

Why is there even a CL?

This is gonna ruin some summer vacations

"Money for Nothing & the chicks are free." Mother Earth News Page 55

His legal fees will bankrupt him...and his companies...but lawyering up is way better than
bending over in prison.

Anyone doing business with Lamar Adams must not have known him for very long. The man has been a crook his entire life.

of course there are retirees and other investors who will lose everything. And just like the Morgan Stanley case it will be swept under the rug because good people dont talk about such things!

I know Lamar. Never understood exactly what he did for a living. Instinctively never trusted him. Arrogant, self important, loud laughing red neck. Hard to believe so many fell for it. It's tough out there.

So - the largest Ponzi scheme in Mississippi is being investigated by:

The US Attorney (newly appointed crime fighter Mike Hurst)

and

The SEC.

Any idea where the MS Attorney General is in this case? I realize he doesn't go after family members, and since this involved some members of the legal community they might be family.

Or - where our "Esteemed, very knowledgeable" Secretary of State and his Securities Division is? Maybe too busy running around the state visiting with schools (and their teachers) so that he can rock the vote, or whatever it is that he is doing preparing for his attempt to upgrade in next year's election. After all, he thinks he should be in charge of everything, why not trying to stop this kind of security fraud? Other than, his ineptness.

Uh uh not the butterfly, that's old. Let me see that tootsie roll.

Quick poll of JJ readers: How many successful investments have you made that involved the manager of your investment issuing post-dated checks?

The checks are actually pre-dated

If you can't get a quote on your investments in the Wall Street Journal or
Barron's or some other reliable source..then please don't invest your hard earned money in crap like this. I sure there were no audited statements by a CPA firm....just a promise....of post-dated checks.

Hey investor who "loaned" money to this crook. If this is a surprise then look in the mirror. Your not quite as smart as you thought you were. Only an idiot would loan $$ to a seemingly legitimate business and expect to get that kind of return. If his business model was so good then the banks would be fighting to loan him as much $$ as he wanted.

I have known Lamar a long time. Anyone who knew him would know better than to invest money with him. Minimal due diligence would have saved these people a lot of money.

I tried to invest in these projects, but I only had about $20,000.00 and they told me I would've to get $80,000.00 from other investors to buy a share of this. I guess I am lucky I didn't have any more money. But, I am still a member of the Country Club of Jxn., so I guess I am all right.

Hard to cheat a honest man. Investors thought they were screwing someone else.

Where were the properties located? Did the properties exist?

The Vaught Society just lost a big donor. I wonder if it will give back Adams’ donation(s)?

I was approached by two of the "recruiters." Mike Billings and Wayne Kelly. Both used the same spill. Now they are both claiming they knew nothing about the scheme.

He pleads guilty then the ball starts rolling. Everyone remotely involved will be brought into play. All will be involved in restoring stolen funds. A lot of people are not sleeping tonight....hell this year.

8:06 when the US attorney deposes one under OATH, a lot of memories are stoked.

I was given the sales pitch to invest by Jon Seawright, Baker Donelson attorney.

There are at least three newly deleted Facebook accounts of people involved in this.

Mike Billings with Butler Snow?

Billings worked through Butler Snow and they brought him in because he makes money brokering all things to the rich both here and Dallas. Also pushed business to BS for their “umbrella”

Yes, that's the Mike Billings. His name drops included every name in northeast Jackson in his sales pitch. I heard it first hand....twice.

Seawright pitched me as well.

Always amazes me when these Ponzi schemes crop up from time to time. The old adage, if it sounds to good to be true, it probably isn’t a good idea to invest, stands the test of time and experience. There was a similar timber Ponzi scheme more than 30 years ago in Ruston, Louisiana. The list of investors who got burned was a who’s who of the community. In a few years after this one, someone else will pull it again after a new generation of gullibles comes along.

Who are the ones who deleted their Facebook accounts?

Jon Seawright with BD?

Seawright isn't just an attorney with BD. He's on their board and a major shareholder.

I bet Lamar can't sing fast enough.

I wonder how many of the saps that got burned in this deal invested in those awesome CDs that Stanford Financial was issuing a while back?

Sadly, none of the guys who promoted and obviously were compensated will be culpable. Just look at the Stanford reps who sold the CD’s while pocketing 4% commissions. None of them were even banned from the securities business. The commission on a brokered CD is 5-10 basis points! Look at the Form D for MTP. They state the intent of allocating $540M of the $10 million placement in fees to insiders/promoters. How are these promoters any different from the Stanford reps? Cue the shrugging of shoulders in 3, 2, 1......

I was told the lawyers allegedly "marketing" the investment got 3%

Anyone else heard such?

Everybody is guilty.

Weren’t these investments technically securities? Were the promoters licensed to sell securities?

I was pitched, but the market assumptions you had to swallow did not make sense. When I questioned the basic premise, the promoter suggested I was the one who didn’t get it.

There is no system of justice in Mississippi, only a legal culture of corruption.

https://fedsoc.org/commentary/videos/is-the-mississippi-bar-doing-enough-to-combat-corruption-and-to-protect-the-honor-and-integrity-of-the-profession-event-audio-video

While the promoters may not have been guilty of fraud, it's probable they will have to surrender any "commissions" earned as part of victim restitution. It's also likely that anyone fortunate enough to get out early (within 6 years) before it collapsed will have to surrender any profit al la the Bernie Madoff case. In fact, in the Madoff case, victims that had invested within 2 years of the collapse had to return their PRINCIPAL payments as well.

Now if it was the State of Mississippi prosecuting this, it would be a differenet story, but with the Feds--Ouch!

I don’t understand how Adams could require the investor not to record the deed he issued. Can’t imagine the logic he told investors as to why that’s a requirement. I’m sure he had a compelling explanation, just can’t imagine how he explained this requirement.

The law firms are probably the deepest pocket from which investors can get back their money. The attorneys using their law firm's name and reputation as part of their marketing the sales to investors, or even using the law firm's cell phones and conference rooms, could make the law firms liable for their partners' deeds (no pun intended).

Investors will come after the pockets of money. Pockets = the law firms. Sadly, people will continue to do business with these firms despite this.

I was pitched these offers between 2013-2015 by Jon Seawright and Brett Alexander. The investment tip was passed along by an otherwise successful doctor couple in NE JXN.

I am surprised that a reputable law firm like Baker Donelson would either a) involve itself in this kind of promotional activity or b) allow its partners to do so, whether the firm name was explicit in the promotional activity or not. I am no expert on securities law, but as a Reg D entity, I believe that anyone representing the investment would have to be a licensed broker/dealer. Perhaps the attorneys that were promoting the investments were licensed brokers, but I really doubt that.

It makes me wonder if this was rogue activity on the part of one or more attorneys looking to make an easy buck. If so, BD should summarily dismiss them, and in any case, the State of MS should seek to disbar them.

Doctors are usually easy targets for investment scams. I have had direct experience dealing with docs in a business relationship, and most of them are completely clueless when it comes to business.

Doctors make a lot of money, so they think that they are good business people. No, you make a lot of money because you went to school for 11+ years...

May 2 @ 10.06 AM,

Just curious: did you ask Seawright or Alexander how much of their own money they had put into the deal?

Of course people will do business with the law firms "despite this." Just because one attorney was involved doesn't mean they are all guilty. Sadly, that's just dumb.

Ahhhh...interesting excerpt from Brent Alexander's bio on the BD website. It looks like he may actually be a licensed RIA and commodities trader. I don't know if that authorizes him to represent investments like the Adams' scheme, but he does seem to dabble:

A rapidly growing area of Mr. Alexander's practice is advising venture capital and related investors on public policy issues. He has passed the Series 65 Registered Investment Advisor Exam, an examination required by the Securities and Exchange Commission (SEC), the National Association of Securities Dealers (NASD) and the North American Securities Administrators Association (NASAA) for individuals who serve as principals in, or advisors to, hedge funds that invest in stocks, bonds and other financial instruments. He has also passed the Series 3 National Commodity Futures Exam, an examination required by the Commodities Futures Trading Commission (CFTC), the National Futures Association (NFA) and the SEC for individuals who serve as principals in, or advisors to hedge funds which trade futures and options.

Apart from his work at Baker Donelson, Mr. Alexander is registered as a Commodity Trading Advisor (CTA) with the NFA and manages a private investment fund.

From experience, doctors are the absolute worst when it comes to business. All of that education makes them think they know everything about, well, everything. Narcissistic, greedy and narcissistic...in that order. Never again will we partner with one, lesson learned.

But back on topic, did anyone ever find out who Marcie at Butler Snow works for?

10:14 gets it. These were securities and the SEC will walk in the door at some point. The promoters were pushing the deals with statements that used the name of BD to demonstrate worthiness (would BD lawyers promote or personally invest in a scam?). No small group of pushers is worth the reputation of the firm. If the firm doesn't take action, it would seem that it is complicit in the behavior. Same goes for the bar. If any clients of the firm were sold an interest, they should face sanctions.

In the past week in Ridgeland JJ has reported illegal zoning & now a Ponzi scheme. It appears that big shot Jxn guys backed by their big law firms are having their way in the city. Their appears to be more fish in Ridgeland than in the Rez.
Just saw the MS Governor on tv saying it is his job to protect the citizens of MS so he is closing bridges without the money to repair these unsafe bridges. Here again, Ridgeland does not seem to have any problem getting bridge construction money. Maybe Ridgeland is not in MS. Maybe Ridgeland should change it’s name to Little “C”(Chicago).

10:14 good luck trying to have these shysters disbarred. Wolves protect their own and the bar is just an illusion and filter for the legal profession. If you have a judgement in hand you may have a chance but they aren’t interested in investigating. Take this from the voice of experience.

Response from: May 2 @ 10:06 AM

No, I never inquired whether they also had an investment stake on the timber offers. They deducted a 2% commission from the 12% annual return. I should also mention that the duo sponsored the funds out of Alexander-Seawright LLC - not Baker Donelson. Maybe they had no relationship with Lamar Adams/Madison Timber but there wasn't enough specific information about any stakeholders to make an investment - and the MO is eerily similar...

It must take great courage to be an anonymous character assasin of people you do not know.

Bill Reed
It's not possible to assassinate character that does not exist.

Bill, I know them. I’ve known Brent for 30 years. Known Jon for 10. Known you for 10. Not surprised by any of it.

Bill Reed, Baker Donelson shareholder, out here trying to defend his boys. Funny.

Alexander pitched me. It was so obviously a scam I didn't even consider it. Besides being the most pretentious, arrogant SOB on the planet, he has always been out for himself. The fact he is involved in this scheme isn't surprising, and I don't think he can lobby himself out of this one.

I cannot believe these law firms are letting people that work there have a side job pushing investments on the side. They should have known better and done their homework.

@4:29 No legit firm would allow such. They would also probably not come to the JJ comments to chastise people for "assassinating" the character of their buddies who helped swindle a bunch of people.

Brent Alexander has been a pathological liar since his days at Ole Miss. As my MaMaw would say "that boy lies when the truth fits better." The questions now are did he pitch this to legislators and elected officials? Is he still employed by BD (he can't be)? What kind of jail time is he facing? Curious if his LLC was established with the sole purpose of helping run this scheme.

I heard someone talking that C-Spire is looking into the Ankle Monitor products to service their clients in the 30A area. Talk about a bad tan line!

@ the 5/1/18 2:09 PM commenter:

Jim Hood is too busy protecting Mississippi's citizens and economy from the recent "eCommerce" fad to worry about a few embellishments of a failed business(man).

What's a little white-collar dispute in comparison to the online wine ordering epidemic? Due to the gross irresponsibility and criminal intent of over 20 ̶w̶i̶n̶e̶ ̶r̶e̶t̶a̶i̶l̶e̶r̶s drug dealers, patient and forward-thinking underage children eager to experiment with alcohol might have been able to order wine over the "Internet" and arrange for it to be delivered directly to their parents' front door within only a few days or weeks!

We can't stand idly by and allow such accessibility & free market consumerism to corrupt and poison our impressionable babies!

I, for one, am thankful for Jim Hood and his virtuous crusade against sinful, out-of-state, small businesses bypassing our ABC's Rubber Stamp Department and filling their coffers on the innocence of children.

We must spare no effort or expense ensuring that only adult Mississippians of legal age have the privilege of, and access to, a most limited selection of excessively-taxed, government-approved wines (except for ̶C̶o̶m̶m̶u̶n̶i̶o̶n̶ ̶w̶i̶n̶e Jesus' blood, spiritual amounts of which are obviously acceptable for children's consumption).

I hope Mr. Hood is successful in suing the pants off these criminal enterprises and sending a strong message to the entire country that Mississippi and her citizens are not open for business in the digital age, and will not yield to the inevitability of change. If companies want to get their hands on our hard-earned money, then they can come down here, abide by our prehistoric and overly burdensome laws, and do business the way it's supposed to be done: with a handshake.

We can worry about capital, violent, and 9-digit, white-collar crimes once the egregious & nefarious retail activity has been stifled. Priorities, people!

Unbelievably Green Oak had a crew working in the yard of the Adams’s Country Club of Jackson home today!!

@5:03. And if Alexander used this LLC under the Baker D umbrella, then Baker D has serious liability here. If firm people, resources, reputations and clients were being used to sell a fraud, then shouldn't everyone be responsible? Has BakerD released any kind of statement?

Bunch of the lawyers will go to jail. They knew it stunk but set up a phony company to hide behind with 0 assets. Won't fly with the fed and they might as well go ahead and cough up the bucks to pay everybody back.

@5:03....You would think so. People don't win going up against the Feds.

Was that builder from Atlanta that skinned a bunch of people also associated with BD? What is the story on that?

https://caselaw.findlaw.com/ms-supreme-court/1526671.html

Savagery @6:38. Bill Reed comin to steal ya girl.

@5:56 I hope they were only planting sunflower seeds and a few Zenia seeds for color. I bet Green Oak will Repossess the pine straw

It will only become epic if they ever tie this guy to Mayor Yarber's fund raiser in Atlanta. Please for once let Hinds and Madison crooks be tied together and let it involve strippers. That would be a Kumbaya moment in Mississippi history.

I knew you wouldn't post it you 666. R.I.H.

Brent Alexander is in his 50s. Until about a year ago, his picture on the BD website was from his college days. Such silly vanity is one reason why so many people laughed at him and still do. I can't imagine anyone taking him seriously enough to drop $100K on an investment with some local yokel claiming a guaranteed 13% rate of return.

I guess it's not just po' folks who fall for the unctuous guy pushing pie in the sky.

Late to post, Wayne Kelly is awful!! Completely misrepresented himself. When the checks were good, he worked for Madison Timber. When the checks were bogus. he told me that he had no idea. Bonuses, commissions!!! My checks are signed by Wayne Kelly, he knew what was going on. GREED

I've known Brent for 40+ years...not surprised. A pig with lipstick is still a pig. Since he lobbied for the MHA, I too would be curious also to know if any Hospital Big Dogs invested any public hospital $$ in this mess. Someone mentioned retirees, check out the good ole boy justice being raped on the Singing River Hospital Retirees who are being bilked for their 30-40 years of hard work. This ponzi is bad enough that HYDR rich boys want to get richer quicker. But when a county owned system gets away with squandering 100's of millions of dollars of wage-earner peoples retirement!?!?! And no one is held responsible?!?! And no one gives a damn including the MSC?!?! THAT is a travesty. Many of these POSs will get jail time, sued, and more. The SRHS pension mess currently has NO ONE being held accountable but the legal "settlement" team gets 6.4 million!!. JJ pick up the blog on that story, I'd love to see who talks. Interestingly, MS is #1 at two things: Giving & Corruption (aka taking) = Saints & Sinners

JJ I see you did post in 2015 RE SRHS unfortunately nothing has changed.
https://www.clarionledger.com/story/news/2018/01/28/hospitals-troubled-pension-system-judge-again-oks-plan-settle-lawsuit/1073393001/

Anything new on Brent Alexander or Jon Seawright?

Yup.