Sunday, March 10, 2019

Baker Boyz: We Were Just Loan Originators

This post is some bonus coverage of the Lamar Adams case.  The Baker Boyz filed a motion to dismiss.  JJ will hold off covering it until the receiver files her response.  It's easier for readers to keep up with the motions and responses if they are paired together at times.  This particular lawsuit has several threads going at one time: Lord Snow, Baker Donelson, Baker Boyz, and the Financial Wizards at Lord Snow (Thornton et al.) so JJ is trying to keep them separate and digestible for you, the gentle reader. The memorandum to support the motion dismiss is posted below.  Something for lazy Sunday afternoon reading.  You were just dying to do some yard work, weren't you? Feel free to read and comment.





34 comments:

Anonymous said...

Billable hours or billable paragraphs/words/letters?

AOC 2020 said...

The American Peoples' proletarian revolution can not come soon enough.

#GreenNewDeal
#EatTheRich
#FullCommunism

Anonymous said...

This is total bs. I know what happened, including who has been falsely accused and innocent folks that have been unfairly accused/lost jobs/ you name it....but Alexander/Seawright are as guilty as anyone outside of Adams. The pushed this bulls*** all day - everyday...and they also have pushed other funds they created that are bankrupt. Just not illegally

I originally thought there should be no criminal punishment for anyone other than Adams, but at a minimum, these bafoons should never be able to practice law again. In fact, no one that has benefited from this referral money, included their business partners in other businesses (yep,the list includes hotshots like former CCJ President), should be able to keep anything. I’ve seen too many that did nothing suffer from the dominoes.

Had enough of this ****

Anonymous said...

Interesting. It brings to mind the saying about not being able to see the forest because of the trees as well as the one about the right to remain silent, but not the ability. I'm going to guess that attorneys with "investor" clients are rather pleased with and amused by all the various motions to dismiss. I'm also going to guess that none of the attorneys for any of the E&O carriers are very pleased or amused and that none of the various defendants will be pleased or amused at all when the dust finally settles.

Anonymous said...

This will eventually take down a bunch more folks than the corrupt lawyers.... Just heard that Pinnacle Trust's COO and head of the Trust Department left along with a few others. Wouldn't be surprised to find out it was related to this mess knowing some of the crooked people at that organization

Anonymous said...

if the lawyers peddling those timber investments were small time , south of capitol street , solo practitioners , rather than politically connected ivory tower law firms, the bar would already have them roasted on a spit with an apple stuck up their ass.

Anonymous said...

King - can you print another listing of the prior threads? Thanks.

Anonymous said...

I thought so at first because of KF, but Judging by the receiver’s actions, I think the Pinnnacle guys were the smartest in the room. Not going to say that they figured it out, but they certainly appear to be way down the list, if on it at all. We will see. Lord Snow, baker boys, MLynch fired some, on and on. Greed wins! Toast and turn.

Anonymous said...

Pinnacle folks were laid off, not “left”. Included a few sales people as well.

Anonymous said...

Where is Lamar Adams currently? I haven't seen him at CCofJackson as of the past few months. I haven't seen him at my neighbors house in NE Jackson lately either. Is he in hiding or What?

Anonymous said...

David is a fine lawyer...but the last guy he represented in a massive fraud is in Oakdale in LA for the rest of his life.

Anonymous said...

5:43 - He's in prison you moron. If you're going to opine, please try to keep up with the facts and status of the story. It's only been covered for months on end.

Anonymous said...

@8:09 AM - 5:43 needs to put down his bong before he can keep up.

Anonymous said...

7:38am said, "David is a fine lawyer...but the last guy he represented in a massive fraud is in Oakdale in LA for the rest of his life."

It would be very interesting to learn if Reid Weingarten has been retained by anyone in this mess, assuming any of these folks can afford him.

Anonymous said...

@10:54...regardless of “why” they are gone I don’t know if I would want to have my money with Pinnacle Trust. Seems like that place is a revolving door of people coming and going and that they can’t get their act together. Also...FYI...layoffs generally mean lack of profits, financial trouble etc....don’t think I’d want my money with a “financial planning” company who can’t manage their own finances...

Anonymous said...

Better call Saul.

Anonymous said...

I don’t blame BD for trying this, but come on. They were working there in a financial planning capacity.

Anonymous said...

Pinnacle Trust fought to be a Trust Company when they formed, so they would not be under the SEC. Now you see why. However, has Delbert investigated their sales of unregistered securities? Ask him. I doubt you'll get an answer.

Pinnacle Trust is under the Banking Division.

Anonymous said...

Banking division is a 10X tougher as regulator than SEC, as Trust companies operate as fiduciaries not brokers. This is why Trust companies switch to RIAs, such as the past president, who was fired along with the team he assembled. Please go somewhere else all of the ex employees, bigger fish to fry here. Follow the receiver.

Anonymous said...

@2:54... tougher regulations for unregistered reps with no licenses or certifications???..sounds like somethin a fraudster would say...or maybe it’s a “loyal” Pinnacle employee trying to save their skin from the next “layoff”

Anonymous said...

Are Seawright/Alexander going to get charged criminally? I would assume they can’t, but wow.

Anonymous said...

to the name dropper at 10:12......if reid weingarten leaps tall buildings in a single bound like you seem to think he does, how come bernie embers doing 25 years day for day? my, how short the memories are on this blog.

Anonymous said...

I’d say Bernie doing 25 is a win

Anonymous said...

Well, 4:37 PM, I don't think anyone leaps single-story buildings, much less tall ones, but Weingarten's track record speaks for itself. He nailed Walt Nixon, et al, as a fairly young prosecutor, and as a defense attorney, he got Mike Espy, among others, a complete walk. Given the overall situation for Ebbers, I'd suggest that if he HAD managed to get Bernie a walk, he might be able to leap at least short buildings. As 4:49 PM points out, Bernie not getting Madoff time was a pretty decent result for the client. In any event, it would be interesting to know who might have made such a call and what the results of it were. I'd suggest anyone making such a call is very, very worried. It doesn't mean they are guilty, but it does strongly suggest that they aren't completely innocent.

Meter's Runnin... said...

"Maybe not guilty but not completely innocent."

Spoken like a true watchdog of the people's trust....

Anonymous said...

@3:57 I would think Seawright/Alexander would get charged criminally. They had to know this all was a scam. They couldn’t be that dumb.

Can one of you lawyers comment?

Anonymous said...

Thornton would know it’s a scam. He’s a numbers guy. A forensic accountant will identify key points when nearly all parties would have to be incompetent not to realize certain transactions were not legal. There will be a digital and paper trail. Adams is mapping it out for the feds; they will need one more party to flip. The law firms seem hunkered down. Those not under their umbrella should be wary and should seriously consider getting out in front of this with a deal.

Kingfish said...

Are we talking about the Thornton that worked at Innovate Mississippi and before that with the TFS/Income Fund?

Anonymous said...

Mike Hurst will never charge Alex/Seawrong with any criminality. They look after their kinfolks.

Anonymous said...

Thornton that worked out of Dallas, Tokyo and New York during the 90’s. He had a house in north Dallas and apartments in nyc and Tokyo.

Anonymous said...

A previous reply said, "I would think Seawright/Alexander would get charged criminally. They had to know this all was a scam. They couldn’t be that dumb."

Charged with what, based on what has been put forth thus far? Their knowledge of it being a scam assumes facts not (yet?) in evidence. Yes, they could be that dumb because they ARE that dumb and they have lots and lots of company.

Remember that there are reportedly potential claims from other parts of the country and if so, there could be other state and federal prosecutors readying things of their own. Plus, the "investors" haven't had their chance to file their lawsuits and make their allegations.

Mills is in a position not many seem to understand: while she does "stand in the shoes of" Adams and Madison Timber, her charged role is to make "investors" whole (insofar as is possible and practical), and that includes redistribution from those who made a "profit" to those who suffered a loss, to correct the wrongs of the previous management, as it were. There are several ways she can attempt to do that and one of those ways would be to help the "investors" recover in ways a receiver cannot. For example, if Adams and Madison were not clients of X, Y, or Z but certain "investors" were clients any of them, she has no malpractice claim, but those "investors"-clients might. Along those same lines, any Defendant who fails to see the big picture could get slaughtered with their own sword or bludgeoned with their own shield by other Plaintiffs in later litigation.

Anonymous said...

Pinnacle Trust could possibly survive if the board would fire Stacey Wall rather than allowing him to run off the 15+ people who have left in the last 18 months. As was previously stated by 10:54, layoffs typically occur do to financial hardships and poor management by the CEO and CFO. Pinnacle will be history by the end of 2019.

Anonymous said...

Those interested might wish to look up Roger Wicker's Senate financial disclosures from 2015 forward. Around 20 transactions involving Alexander and Seawright's "Timber Fund." I'm going to guess that Senator and Mrs. Wicker have removed both of them from their Christmas card list, but to balance things out, Ms. Mills has added the Senator and the Mrs. to a much different type of list. Hey, if you want to run with the timber wolves, fleas and ticks come with the package.

Anonymous said...

Shuuuutttt uppppp pinnacle people

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