Jackson Jambalaya

$100. Special Assessment Fee LOL

I have to say I am surprised. I would have bet that Adams would have received no more than 10-12 years. Good for the judge.

How much time will he have to serve before chances at parole?

Federal? Long time. This isn't MDOC or 585.

That oughta knock off the arrogant smiles of his supporters aka his family. Maybe know they won’t act so high and mighty anymore because Daddy ain’t giving any more blank checks. Humpty Dumpty sat on a wall...

He’s gone be getting a lotta wood in prison

Federal prison is almost day for day. This man dies in federal pen.

No parole in the federal system. $100 special assessment is mandatory and ordered in every felony case.

@6:24, His mom isn’t smiling . There is a lot of collateral damage on this one . He effed up and he will probably never see freedom again

Not long enough. Doesn't matter if he dies in prison. This is not enough for the crime committed. Period. The plea agreement down to 1 charge is about as much of a crime as anything. They had him based on evidence, no need to plea. People who stole much less than this man, and many stole just to buy groceries, got a lot more time than him. Enjoy Mr. Adams, you screwed us yet again.

His family members should be stripped of their riches. What about the recruiters that made millions promoting the scam?
They need to get some jail time along with the other creeps.

Did they take Mr. Adams into custody today??? Or did they give him a time and date to report????

His wife was hanging in the VIP section at CCJ on Sunday for the Sanderson Farms golf tourney. Must have left his loser ass at home. I’ve seen first hand some of the lives that have been impacted...Deserves every day.

Hey 7:00, Lord Snow would disagree.

Self reports to BOP by noon January 7, 2019.

So, of the 164 million, how much was repaid to investors and how much was pocketed? Is there a way to find out via FOIA request? If so, I’d chip in to an accounting.

FREE BERNIE EBBERS!

To be clear, SOME of the "victims" were people who gave Lamar Adams money because he guaranteed them a 12% return on their investment. And by guaranteed, I mean he literally gave them post dated checks written out that were to be deposited on a monthly basis to repay the investor back his/her principal investment with the 12% interest. You know, just like any other ordinary investment. Oh, you mean you've never heard of an investment that "guaranteed" results and gave you post dated checks for you to deposit on a monthly basis? Maybe because they don't exist. And, I don't believe anyone ever got a 1099 at the end of the year...and I bet most of his investors never reported the interest income on their tax return. Yes, people ended up losing money when his Ponzi scheme came crashing down. And, I know he preyed on some unsavvy investors who may not have had any idea that "guaranteed returns," post-dated checks and no 1099 should have raised red flags. However, for those who knew his scheme was too good to be true, aka knew it was illegal, they are no more victims than someone who invests in a cocaine manufacturing business. And, even though the spotlight is on Lamar's colleagues who made commissions off of new clients, what about the people who got their 12%, never got a 1099, never reported the interest income on their taxes, never asked any questions and got out before the scheme collapsed? It was their money that enabled Lamar to continue his scheme and that helped perpetuate the fraud.

I hate to be vindictive, but I hope his ill-gotten gains don't continue to support his family and his "soon to be divorced wife" that was with him at his grandson's football game yesterday. So much deception and so many people lost so much to support that lifestyle.I have friends whose lives were turned upside down through no fault of their own.

So what’s gonna happen to Seawright!?

So many honorable people were misled. He and his family need to make reparations if they have any integrity.

We have friends who have lost their life savings and that of family and friends. It's had a huge impact on some truly honorable and honest people. How anyone could do this and sleep at night is beyond me.

And, agreed - what is his "soon to be ex wife but we had dinner last night wife''s" part in this. She's having a ball at the golf tournament. Y'all there are so many who are devastated after this shyster robbed them or their parent's blind. This is crazy.

10:13 you mean like Roger Wicker?

10:13 p.m. - You call these 'victims' "Unsavvy Investors". Basic math reduces this down to roughly $515,000.00 per investor. Of course that's an average and there's no accounting (that I've seen) as to which could have invested SEVERAL million. How in the name of Pudgie's Paunchy Pig can people with that kind of money be referred to as 'Unsavvy'? Nobody accumulates that kind of disposal wealth being unsavvy.

I'm still waiting to see how many lawyers and shuckers selling these bargains (like McHenry) will be indicted as fellow conspirators and accomplices who also invested knowing it was a scam. However, it's odd that the feds started at the top of this food chain, instead the bottom, if the objective was to net them all.

Does Lamar have to surrender his sunglasses with that "Hollywood" strap on it ?

I have known Lamar a long time. Luckily I never have had enough money to do business with him because I probably would have if I did. Lamar has always given me the impression of somewhat of a hustler. But I never would have imagined this being the end game. He has always been nice and generous to me, but after finding out what he has done. I do not feel sorry for him or his family one bit. I do not care what his family says, his wife and kids are smart enough to know what he was doing. And they must have known someday all this would come to an end.

I have no pity for the investors that got involved in this if you had 100k to invest, you had to know that you should have received a 1099 and when they didn't report the dividends they were just as guilty of a crime as Lamar. He will come out in 20 years and do it all over again, he's only going to be 78.

I don't thing the feds are through with Adams ass yet. If you remember they froze and went after everything Ebbers owned after he was locked up. I think Mrs Have A Ball At The Golf Tornament Adams time at all these type functions is limited.

It is really funny reading the posts detailing how stupid the investors were. When a hand full of people start doing something, the rest will follow, including rich people, especially the one’s who rely on advisors like the attorney’s that were pushing this scam.

The real and extremely intriguing question is whether or not the attorney’s selling this scam were really dumb enough to believe in it.

There’s no easy answer here because if the attorney’s really believed the scam was legit, their recklessness is extremely hard to imagine possible for someone able to pass the Bar since just a little bit of due diligence from time to time should have turned up evidence of this fraud.

On the other hand, if the attorney’s knew it was a scam, and knew it would all come falling down one day, this is so beyond stupid it is really hard to imagine.

And Delbert was where when this was going on? Oh, never mind. Clueless as usual. Mississippi Securities Division is a total joke.

The attorneys and promoters all knew this was a scam, but the money was just too good. They are the ones who looked the investors in the eye and told them this was a good deal, they were the ones who brought their friends and clients into investing with Lamar, they are the ones who still have millions of dollars of the victims. I’m sure each are negotiating to see how much they can keep without haveing to give back their blood money. Hopefully justice will be done.

Maybe John Grisham can write a book & help with a movie and some proceeds can go to victims.

@ 10:13 PM - For the record if it matters, they were issued Form 1099-INT's all the way thru 2017. I've seen them.

I guess days make it seem longer but 19.5 years doesn't seem long enough for the crime.
It may be a life sentence given the age of the criminal well , but if he'd been 23 and did this, he'd be out young enough to con more people.

From the second paragraph in the statement:

"During the last year of the scheme, Adams fraudulently obtained in excess of $164.5 million dollars from more than 320 investors located in at least 14 different states."

and from the fourth paragraph:

"During the fraudulent scheme (note - a 7 year period according to the statement), Adams fraudulently obtained well in excess of one hundred million dollars from more than 250 investors located in at least 14 different states."

While the latter statement would encompass the former statement, I wonder why was it phrased differently a paragraph apart. If he "obtained in excess of $164.5 million" (a pretty specific-sounding number) just in the "last year" of the scheme, it makes the latter statement of "well in excess of one hundred million" over the entire seven years of the scheme seem a drastic understatement.

I'm going to guess that the Feds don't actually know yet how much he stole nor where or to whom a fairly significant part of the money went. I am going to further guess that means that there are a fair number of folks who actually did make money on their "investment" (they got in, got paid, and got out prior to collapse) and as such, those people have no interest in the Feds knowing about their "investment" and "return" on it.

He must serve a minimum of 85% of his sentence.

When does Butler Snow get sued?

Interest was well above 13% since the investors were receiving 1/12 of their principal back every month and really only had half their money up for the year - so return about 26%?

Attn 8:28 It is not hard to total up wire transfers and deposits in determining the amount of "investments". It may be time consuming, but any competent accountant, banker, or attorney can do it. The problem is that at somewhere around $300.00 an hour quickly lessens the amount available for recovery. I have been told (not verified) that 1099's were issued. Does this mean that these victims can recover from the IRS the taxes they paid on assumed and reported interest?

GREED come before a FALL on scammer & victims.

The chatter I heard when this story first broke was that the amount swindled was $150-$175 million. If you will remember, the feds kept saying it was "in excess" of $100 million. Some just assumed it was $100 million.

Taxes paid will not be refundable.

I wonder who's Club number Vick was using to pay for her drinks and meals? O wait a minute, it was all free that day so that is how she was able to eat. Lamar is moving in the Big House so when does Vick move out of the little house? Maybe Lamar can finally get his college education from the boys in the slammer, if you know what mean? Hopefully they hauled his sorry ass off yesterday to his new living cell. When will the Feds go after ALL THE Assets he has stashed around the Miss Delta? Wow, I have a lot of questions and hopefully someone has some anwers. Please keep me updated, it is going to get interning. Maybe we will get all the answers on the next episode of American Greed. It's going to be a great show when it airs.

Is Special Agent Christopher Freeze related to Reverend Hugh Freeze? Asking for a friend.

8:28 am here, in response to October 31, 2018 at 9:22 AM:

"It is not hard to total up wire transfers and deposits in determining the amount of 'investments'."

You are likely correct about simple addition of a large portion of the total intake of the "investments" (unless there was any cash investments that weren't deposited as such, which could be yet another twist to this mess), but given the apparent large outflow (paying prior "investors," Adams' personal expeditures, the costs of maintaining the appearance of a real investment business, "commissions" and finder's fees, etc.), calculating the total amount actually stolen gets a bit trickier. Plus, if you have someone who got the promised return and didn't lose anything (yet) who then makes a (self-serving) claim that they weren't cheated, that has ramifications on a number of levels and for a number of the various civil and criminal interests. Put another way, it would be difficult, to say the least, to prosecute someone for theft/fraud when at least some of the victims have claimed or likely will claim they weren't victims.

Also, while the "$300 an hour" applies to the receiver and other private attorneys involved, it doesn't apply to the Feds.

Just tossing this out there, but the lack of clear numbers might be a reason for Adams' quick plea, the Adamses' divorce, the fight over "commissions," etc.

Not everyone with money is smart. I know two people that invested in this early on, made money, and got out. They received a large inheritance from their grandfather. Have done nothing to earn their immense wealth.

How was Lamar able to go to a grandson's Jr High Football game? I thought he was on House Arrest.

Vicki...the woman has no morals or shame....how do you face people...whom your husband stole millions?

Sorry, I can’t take the stupidity any more

They don’t know because it isn’t clear. These were 12 month prom notes, etc. Most investors rolled their previous interest payments into new deals.

Therefore, if a client invested 1 million in 2010, by 2018 they had accumulated well around 2.5 million. So in 2018 he may have done 165million in new money, but it was in many cases the same money that would be called 65mil from 2012.

The money is not then added up. It’s the same money. Some clients lived on the interest, some re-invested, some took withdrawls. It is not just as simple as “how much did he have”.

1:45 PM

please do not....do not get upset and try to explain accounting/investment ideas to this bunch of trolls.....its not worth your time.

I am glad to see he was sentenced to a long time for these crimes. I hope his sales people will be prosecuted,as well. Not surprising that he said he "never met 95%" of the investors - he could not be bothered to mix with the little people. I went to high school with him and his wife and have never met 2 snottier or more arrogant people and neither had reason to be. His parents were plain working people and her family lived beyond their means, but had no real money. How Vicky Lynn can continue to show her face at social events and flit around CCJ is beyond me. Not to wish ill will, but she should not be able to continue to live her fancy life on stolen money.

The math for “ investors” is simple: total principal invested minus total principal repaid minus total interest paid equals total loss. It is not clear whether the news reports referred to the total principal invested or the total loss. Really no longer relevant to the criminal charges, since he has been sentenced.

From the new movie, It's a Ponziful Life:

Lamar Adams: Hey! Merry Christmas, Mr. Hurst!

Mike Hurst: HAPPY NEW YEAR TO YOU...IN JAIL!

Hope he enjoyed driving that $70,000 pickup. Hope he enjoyed his Yeti cooler. Hope he enjoyed all those dinners as Tico's. Hope he enjoyed those season tickets to Ole Miss football games. Hope he enjoyed that trip to the All Star game to see PAPEY! Hope he enjoyed bragging about his country club address. Hope he enjoyed all those "business" trips. Hope he enjoyed living beyond his actual means.

At least he'll have those memories to comfort him while he's squealing like a pig for Moose, Rocko, and Tiny.

11:17 - I caught your mention of money 'stashed around the Mississippi Delta' and am wondering what this novel has to do with the delta. Other than that being the home of William B. McHenry (Greenville), whats up with your parenthetical remark?

What happens to blowhard Kelly for scamming everyone to get his $10mm commission??

Just to clarify, Vicki Lynn has always taken a very active role in volunteering at the Sanderson Farms. She was asked to come back to her usual volunteer role. She is not living the “country club” life, she simply donated her time to the charity.

Nothing warms my heart like stories of Lamar and "Vivie" spending other people's money on lavish trips - to make memories.

“Lamar only said one thing: ‘If we’re going to do this, we’re going to do it right with other people's money.’ Which meant we weren’t going to sit in the upper deck way down the base line like the plebs who didn't steal millions.”

They bought tickets for the game and the Home Run Derby on Stub Hub and Vivid Seats with money they pilfered from investors.

They sat on the third row in right center for the Derby and, of course, the third row for the game, paid for by people who put their trust in Lamar.

“The tickets weren’t inexpensive, but they weren’t as bad as I thought they might be, especially since we weren't paying for them,” she says. “It was the other stuff that adds up the amount you have to steal.”

Flights. A Bryce Harper cap and a jersey for the grandson. Jerseys for three other grandchildren, paid for by money ripped off from others who were investing to put their own grandchildren through college.

Hotel and meals Saturday through Wednesday - all paid for with ill-gotten gains.

“But it was worth every cent that we stole,” she says. “Just to get that alone time with your grandchild without the parents there and without the people whose life savings we were destroying there either. And I don’t want this to come out wrong, but also without the other grandchildren there. Their time to live high on stolen money will come. It was just us three, and that part we will never change...until Lamar goes to prison.”

@4:14 the delta comment most likely has to do with land purchased or hunting club buy ins and the like.

Thank you, 8:32. Would sure like to know of which land and club you speak.

Attn 4:14 Mississippi delta connection. I believe McHenry is not the only delta connection. I believe Kelly is from Greenwood and of course Lamar is from Indianola. The more things change, the more things stay the same. I remember in college someone did something incredibly stupid. Someone answered "he is from the delta" which seemed to explain the incredibly stupid act.

There are a few victims in the Delta as the recruiters made their way to that storied part of Mississippi.

Lamar bought the old Belk Farm at Kinloch on the Sunflower River.

For the commenters with actual legal experience and in all seriousness, what legal exposure does Butler Snow and Billings have, and the same question for Baker Doneleson and Seawright and Alexander.
It appears to me, and I am not a lawyer, that the sentencing for Adams happened quickly. Does this mean that he is likely in a position to testify against any or all of them?
Did they or their firms violate any laws?
It is difficult for me as a non-lawyer to distinguish between them as individuals and them as employeed financial advisor representatives of their firms.
What happens next?

Is this the Wayne Kelly that would be about 45 and is from Greenwood? If so, this doesn't surprise me one bit.

3:39 - Since he has already been sentenced, there's absolutely no incentive for him to roll over on anybody. Seems backwards if they want the other players.

4;40 yes.

@5:29 PM - you obviously don't know how the federal system works. His immediate plea/plea agreement has contingencies/obligations, which include full cooperation with the government. If he fails to meet those obligations he will be resentenced.

3:39 pm

That’s a great question that many other lawyers want to know.

Some suits were filed but they were stayed by Judge Reeves pending the search and find for Lamar’s assets.

The receiver is currently wrestling with some of the salesmen over commissions and their ill gotten gains.

The law firms could be in trouble depending on their knowledge of this scam and if they derived funds from it.

As a lawyer it’s difficult for me to believe anyone with Butler snow or Baker had actual knowledge of the details of this....I could be wrong.

The devil will be in the details and in the language “knew or should have known.”

Stay tuned.

Those law firms have "real money". If they are found guilty, this could be a real source for getting funds for those duped. The law firms certainly have no problem suing and destroying the poor laymen on the streets. It might be time for them to pay up, but you better hurry before they find ways to "distribute" those retained earnings.

The Law firms.. BS...have E&O coverage to pay for obvious errors and omissions, but the insurance companies are not going to pay a claim for
fraud.

Butler Snow better lawyer up now. The Feds have unlimited resources... much,
much more than BS.

I appreciate that. Really, I do.

Someone earlier suggested that his prison sentence wont begin until Jan2019.
It would be mighty tempting to consider fleeing given his current age and 20 yr sentence. Besides taking his passport and possibly a ankle collar and the likelihood that he would be caught, how is this viewed?

There needs to be a sheriff's deputy stationed outside the Adams' house at CCJ until Lamar goes to real jail.

Remember Lewis Nobles, the president of MC who fled two days before he was slated to appear in court, then swallowed poison when they found him in a San Francisco hotel room with a hooker? That was for embezzling only $3 million.

I would bet more than a few bucks that Lamar is thinking about fleeing. The feds better keep him locked inside his fancy home until January.

Lamar did what he did and he is paying the consequences for it. His family is innocent. They were in the dark as much as everyone else, believe it or not. His family were absolutely NOT aware of what was happening so the life they were living, they now know it was false. Could you imagine waking up to find out that truth? You probably can’t. You probably can’t imagine the hurt and pain they are feeling for the victims and for a million other things. Say what you want about Lamar, but his family is innocent and did nothing wrong. Stop bringing them into this mess, stop punishing them for a crime they did not commit. I pray that all of you never have to go through something similar because at the end of the day, you have no clue what you, your children, parents, or family members will do. I hope as you all are sitting in church sunday morning, or when you post scriptures on your Facebook wall to show people that false conception you have about yourself that you pray for the victims and the family. Heed the advice of the word of God you good Christian folk here believe, stop judging and start praying for ALL involved and affected.

Very well stated.

While Mississippi's praying, it's getting financially raped while the present leadership is complicit in the crime through their depraved indifference. WHO exactly was Roger Wicker's contact? The public has a right to know.

@1:12, why not ask Wicker. Sure he will be honest with a constituent.