Friday, March 22, 2019

TIM-BERRR! Receiver Sues Stewart Patridge, Mom, & Bankplus in Timber Fraud Case

-Receiver sues Stewart Patridge and friends for commissions in Lamar Adams case
-Bankplus suspected "money-laundering", reported to Feds in 2015.
-Receiver sues Bankplus for Alleged RICO Violations 
-Bankplus says it complied with law.

Lamar Adams played the Ole Miss network like a fiddle as he used an Ole Miss football star to further his timber investment fraud scheme.   Receiver Alysson Mills sued former Ole Miss quarterback Stewart Patridge, his mother  Gee Gee Patridge, Jason Cowgill, Martin Murphree, Mutual of Omaha, and Bankplus  in U.S. District Court yesterday in an effort to recover funds for victims of Lamar Adams timber fraud scheme. 

The SEC is trying to claw back illegal profits earned by Lamar Adams and  promoters of a $164 million Ponzi scheme based on phony timber investments.   Receiver Alysson Mills represents the SEC. She will recover assets, distribute them among the victims, and provide progress reports to the court.  Mills sued  to recover over $16 million in commissions from several "promoters". The promoters allegedly helped Adams sell his phony timber investments to unsuspecting investors.

The complaint charges former Bankplus and current Bankplus employees with "substantially" assisting Madison Timber's growth by

recruiting new investors to Madison Timber, including from BankPlus’s own customers; lending their influence to Madison Timber, including by serving as a reference to potential investors; lending their resources, including BankPlus office space, for Madison Timber meetings; facilitating the financial transactions on which Madison Timber relied—payments to and from its investors and to and from its recruiters; and facilitating transfers, or “loans,” from Wayne Kelly to Madison Timber
that masked Madison Timber’s insolvency.
The Patridge Family

Gee Gee Patridge, mother of Stewart, was the Bankplus CFO in 2011.  Stewart and Wayne Kelly were childhood friends and college roommates.  Stewart was a starting quarterback for the Ole Miss Rebels football team from 1995 to 1997.  The Receiver charged Kelly last year with earning commissions for selling the phony investments through agents such as Stewart.  Her complaint alleged:

Between 2010 and April 2018, Kelly sold investments in Madison Timber to dozens of investors. In  exchange, he and Kelly Management received Madison Timber “commissions” of not less than  $9,674,615.  On information and belief, out of the “commissions” Kelly Management received, Kelly Management paid a total of $1,456,811 in “commissions” to sub-recruiters during the  same  time  period.   Accounting  for  “commissions”  paid  to  sub-recruiters,  Kelly and  Kelly Management received net “commissions” of $8,217,804
He settled the case in December for an estimated to be $2 million.

Stewart apparently "sub-recruited" for Kelly in 2011.  Gee Gee invested in Madison Timber until 2014 and received payments until July 2015.   Stewart had a yearning to bag more elephants so he left Bankplus at the end of 2011 and joined Mutual of Omaha.   Stewart and former Bankplus employee Martin Murphree opened a Mutual of Omaaha office in Desoto County.  However, they allegedly focused on former Bankplus customers for their timber safari.  The Receiver called the Bankplus Southaven office as a "de facto De Desoto County headquarters for Madison Timber."

Stewart and Murphree used the office of their friend, Jason Cowgill, the Bankplus branch manager to meet with Madison Timber marks even though they no longer worked for the bank.  Kelly in turn paid them commissions.

However, the Desoto Duo were not the only ones who garnered the Receiver's interest. 

41. Often Gee Gee already had a personal relationship with the potential investors who called her. Kelly sometimes asked her opinion of a potential investor’s “investment capacity.” In at least one instance she surmised “I would think pretty large.” That particular investor was a client of Baker Donelson. Kelly told Gee Gee, “Lamar and I deal with Brent Alexander and Jon Seawright with Baker Donelson. They have a client that wanted some referrals concerning Madison Timber. You may
get a call. I appreciate your allowing me to use your name.” She responded “I know him well.”

42. Eventually Adams and Kelly prepared a document titled “Madison Timber Referral List” to give to potential investors. On information and belief, Brent Alexander and Jon Seawright of Baker Donelson shared the list with their own clients. The list identified five individuals, each affiliated with established firms or institutions in the Jackson area, who had agreed to serve as a “referral” for Madison Timber. In addition to Gee Gee, who was identified as “Bank Plus Senior Executive Vice President & Chief Operating Officer,” the list included Matt Thornton, “Butler Snow Advisory Services, LLC President & Chief Executive Officer”; Michael Billings, “Butler Snow Advisory Services, LLC”; Jeff Rawlings, “Rawlings & MacInnis, P.A.”; and Randy Shell, “Pinnacle Trust Senior Vice President & Trust Officer.”
Unfortunately for the fraudsters, Stewart allegedly became rather so lackadaisical in his work that Cowgill often did his work for him.   Kelly initially paid Cowgill $500 per month to handle Stewart's transactions.  Stewart didn't return phone calls to investors nor did he make deposits.  The complaint alleges that Stewart rarely showed up at the bank unless it was to pick up a check.  Kelly grew weary of dealing with Patridge and began paying his checks to Gee Gee.  However, Kelly eventually saw no need to pay someone who wasn't doing any work and started paying Stewart's commissions to Cowgill and Murphree.  Cowgill left Bankplus in February 2015 and had three more jobs that year.


The Receiver alleged Kelly paid commissions of

* $141,940 to Stewart in 2013 and 2014
* $374,900 to Murphree from 2013 to  April 19, 2018
* $96,900 to Cowgill from 2014 to April 19,2018

April 19, 2018 is the day before the SEC sued Lamar Adams and froze all of his assets.

She accuses the defendants of ignoring numerous red flags such as  fantastic rates of return while choosing not to verify the deeds or timber contracts.

Bankplus

However, the Receiver accuses the bank of looking the other way when it was warned about suspicious behavior by Lamar Adams and his forest of fraudsters.  

Bankplus stated to JJ  "BankPlus works vigorously to comply with all laws and regulations. We deny any allegations of wrongdoing and look forward to presenting all of the facts in the appropriate forum. The vast majority of allegations revolve around incidents several years ago and there is no allegation that BankPlus received any financial benefit from the actions of a small group of employees several years ago."  Sawces said the bank was blindsided by the complaint. 

However, the Receiver cited several emails to support her accusations against Bankplus:

63. Apparently unrelatedly, in March 2015, BankPlus’s president for Madison County sent an email to more than a dozen BankPlus colleagues inquiring “Does anyone know anything about: Madison Timber[,] Terry Wayne Kelly[,] Kelly Management ???” Separately, on the same day, she emailed BankPlus’s president for DeSoto County to explain the basis for her inquiry. She  wrote:
[A colleague] in our Canton Branch who is the officer on Madison Timber called me to say that she does not trust Lamar Adams AT ALL! She said that he is constantly sell “timber shares” to people and giving them posted dated checks. She thinks it’s all like a pyramid scheme. . . . [Another colleague], manager at our Pear Orchard Branch, said Wayne Kelly calls him all the time, always in a big hurry, checking on balances, deposits, checks, etc.

She followed up a couple of hours later:

[Another colleague] also knows of Lamar Adams because he is from the Greenwood area too. [He] said that over the years in talking to Greenwood people that the Madison Timber deal is a scheme. [He] also recalls [another colleague] (in our Fraud area) contacting him a while back because it appeared that they were kiting, so they had a conversation with Wayne about it and he quit . . . ALSO, [he] said that at one time Wayne Kelly was good friends with Stewart Patridge, Gee Gee’s son………….just sayin’.
The President of Bankplus Desoto County notified the Bank Secrecy Act Officer .   He determined the Madison Timber activity at Bankplus "appear to be some type of money laundering scam or scheme, which was facilitated by Jason Cowgill or Terry Kelly."    He submitted a Suspicious Activity Report (SAR) to the federal authorities in 2015.   The Receiver claims Bankplus took no further action against Madison Timber or anyone else related to the case.   She accused Bankplus of ignoring the fraud while allowing Madison Timber to grow.

Mutual of Oamaha

The complaint holds Mutual of Omaha responsible for alleged lax supervision of Murphree and Patridge as they sold the phony investments.

Causes of Action

Civil Conspiracy: All defendants.
Aiding & Abetting: All defendants
Recklessness, Gross Negligence, & Minimum Negligence: All defendants
Violations of Mississippi's Fraudulent Transfer Act: Stewart Patridge, Jason Cowgill, Martin Murphree
RICO Violations: Bankplus
Negligent Retention &  Supervision: Bankplus, Bankplus Wealth Management, Mutual of Omaha

Kingfish note: Notified in 2015? Hmmm.... What did feds do?

So Lamar  Adams flipped on his promoters.  Are the promoters now flipping on the sub-promoters?  How much of this case depends on the testimony of Wayne Kelly?  Inquiring minds want to know. 




Related Posts
Baker Boyz Found in Contempt 
Baker Donelson swings ax again at SEC lawsuit.  
Baker Donelson tries to clear cut Receiver's lawsuit.  
More lawsuits coming in Lamar Adams case.  
Wife's Tree Falls in Lamar Adams Case
Butler Snow Asks Judge to Dismiss SEC Complaint in Lamar Adams Case.  
Jailbird 
Ole Miss Repays Money in Lamar Adams Case 
Receiver sues Butler Snow & Baker Donelson
 Lamar Adams swindled over $164 million from victims in Ponzi scheme.  
Billings Battles Receiver 
Receiver goes after millions in commissions in timber Ponzi scheme.  
Receiver records $2 million.  
Lamar Adams Sentencing Postponed 
 Federal Home Cooking in Lamar Adams Case? 
Tree Falls Against Pinnacle in Lamar Adams Case 
WSJ Blasts Judge Reeves in Lamar Adams Case 
Judge to SEC & SOS: Not so Fast 
McHenry sues Lamar Adams, claims he was duped.  
A look into how the timber scheme worked.
SEC opposes Delbert's opposition.  
 SEC wants receiver in Ponzi scheme case, Delbert opposes.
Victim sues Timber Trolls 
Lamar Adams pleads guilty.  
SEC: Ponzi scheme began in 2004. 
Flashback Friday
Clearcutting the timber. 
Wicker wobbed in Ponzi scheme.
Pinnacle Trust issues statement on Ponzi scheme
Lamar Adams waives indictment.
Feds: Lamar Adams took over $100 million in Ponzi scheme.
TIM-BERRR!!!

76 comments:

Anonymous said...

Popcorn!!!!

Need more Popcorn!!!!

Anonymous said...

At this point I’d pay Lamar..... In cigarettes of course.

Anonymous said...

When this girl gets through, there might be enough money to make everybody whole!!!!!!!

Anonymous said...

Bankplus Wealth Management And CFO! Bring the house down

Anonymous said...

I’m taking the poster of Stewart Patridge down. Puttin. Chad kelly up

Cynical Sam said...

Confucius say: The bigger they are, the harder they fall.

Anonymous said...

Confucius also say: If you Ole Miss fan, blame all shit on Mississippi State. All evils and bad act must to be blame on school to south. That natural and you milk it for years.

Anonymous said...

SEC...SEC...SEC....

Anonymous said...

Can’t wait to hear the Baker Donelson partners post their “ clean hands” nonsense,now. Have these firms advised their clients that got scammed to seek legal representation elsewhere? They have a duty to mitigate for their clients even if it implicated them. They are conflicted with every client even loosely involved in this matter and must recommend that their clients get outside counsel. These law firms and financial outfits are exposed both civilly and criminally. Notice the Rico designation in the pleading. Rico changes everything. This is getting interesting. Someone other than Adams is cooperating. We should know whom soon.

Anonymous said...

I’ve said from the beginning that the Baker was the only group I knew actually “pushing” it. I missed the Butler guys, I do like Matt, but he isn’t an atttorney. And certainly didn’t see Bankplus coming, but great to see truth come out. Can you explain to non-attorney why RICO changes everything?

Anonymous said...

Where is the dumbass who says you need not record a deed?

Anonymous said...

RICO provides for treble (triple) damages. It’s a money grab the same way the ACLU operates for civil rights violations....treble damages.

Anonymous said...

Appears BankPlus reported the issues to the Feds (Sec 65 in the complaint) This was in 2015 so if there is issue with the fraud, it’s because the government didn’t act more timely on the SAR, which was properly and timely filed. The losses occurred because the government failed to act timely on the SAR filed in 2015, which was 3 years before charges were filed. The investor losses were incurred during those years so why isn’t the Receiver looking to the government for their lack of action when suspicious activity was properly and timely reported? wonder if Trustmark also filed SARs? Maybe the real issue is the Justice Department didn’t properly follow up when suspicious activity eas reported and they allowed reported fraud to grow until it’s an easy case for them?

Anonymous said...

SAR’s are supposed to be confidential. A Treasury department employee that leaked one to the press on Paul Manafort is awaiting sentencing now for disclosing it. So, how is the existence and particulars of one in this case known?

Anonymous said...

Bankplus won't pay a dime. This is a stretch.

Anonymous said...

Banks of that size file several thousand SARS. If the CFO, head of wealth management saw emails such as the above, and did nothing....bye

Anonymous said...

It’s becoming clear the real scam artists are cutting deals to point fingers at third parties hoping to keep their thieving asses out of prison...also maybe keeping some of their ill gotten fortune. Kelly only gave up 2MM to settle after recieving a whopping 9.7MM (commissions)????

Anonymous said...

With these emails from within the bank....I do not know how BankPlus avoids paying lots of money.

I used to like this bank.....hell I bank there now.

Not that it matters much but that’s about to change

Anonymous said...

Bullshit! RICO is a federal crime statute. The ACLU is simply a race-baiting group of misguided young lawyers supported by liberal contributions. Can't imagine why anybody would draw a comparison of the two.

Anonymous said...

Why does a receiver have to be paid millions of dollars to sort through this mess when you geniuses figured it all out for free? The facts and the law just confuse things. Much easier just to speculate and pretend to be smart.

Anonymous said...

Ummm, it was speculation the first week.


A year later, these are facts and the real players of a fraud scheme that impacted hundreds are coming to light thanks to the receiver. I remember talking to bankplus folks early on that were pointing fingers.

Thanks to receiver and Kingfish

Anonymous said...

the mississippi state humanoids are now happy and thrilled . they now have a former ole miss football player they can tie to the adams case. now they can blame it all on ole miss. proving once again nothing matters more to the eternal sophomores of mississippi than chicken manure college football.

Anonymous said...

Attn 9:39 The perpetrator was an avid Ole Miss fan. The salesmen were Ole Miss former football players or fans and/or alumni. I suspect most duped investors were Ole Miss fans. Probably most of the lawyers involved were Ole Miss alums. AND YOU DRAW SOME CONNECTION TO MS STATE. Find something else to carp about like "where do we need to move the statue" which was dedicated to soldiers who died for their country.

Anonymous said...

I grew up and lived in Mississippi most of my life but kept my eyes and ears wide open. In general Mississippi folks are very dumb and fall for every scam that has been used in other placed many times. Too much value placed on personal contacts and not enough on research.

Anonymous said...

@9:32, allegations in a complaint are not facts.

Aesop said...

A line from my newest fable. “The cats go astray when the mice pay.” This a is a fable about our Attorney General and federal prosecutors who talk tough about prosecuting crooks.

Once upon a time, in 2015 the feds knew about this crime and sat on their hands. The AG knew and did nothing. Meanwhile the citizens are being criminally defrauded of millions for years while the criminals still ride the roads in luxury cars, guzzle expensive wine and sniff designer substances as they strut the halls of the Capitol. Every day they continue to wield their influence over the corrupt officials who turn a blind eye to those violating state and federal law.

TO THE PERSON WHO POSTED ON THIS BLOG TO “WAIT AND SEE” HOW TOUGH THE AG WILL BE ON THESE CRIMINALS AFTER THE FEDS FINISH. THAT PERSON IS PERPETUATING THIS FABLE OF OUR AG BEING TOUGH ON CRIME.

THE CURRENT AG WILL DO NOTHING TO PROSECUTE A SINGLE ONE OF THESE WHITE COLLAR THUGS BEFORE HE LEAVES OFFICE OR AFTER.

Which candidate to replace the AG has weiged in publicly on this outrage? None of them. Those candidates have been quiet as a church mice, and they all will continue to cower before the big spenders in political campaigns. Might be interesting to see which candidates for every office took or is taking money from BB and BS partners and employees.

This proves that we need a recall law on the books whereby we can throw these criminal enablers out of office when they let rich criminals pick our pockets and walk the streets for years.

Anonymous said...

@8:12 AM - Yo bright spark, RICO is both criminal and civil.

Before you open your big pie hole and start posting, do your research.

Well, maybe you require a little tutoring, so because I believe in being charitable to those less capable in their cerebral function:

18 USC (that means United States Code, Mr. Rocket Surgeon) 1961-1968 (hint: those aren't years).







Anonymous said...

Someone other than Adams is cooperating. We should know whom soon.

I think several people are. Ms. Mills in several of these filings has used quotation marks without naming sources. And the quotations seem to be from people who had intimate knowledge.

Anonymous said...

I will never understand why the people here are so obsessed with Ole Miss and Mississippi State, and desperately try to work that rivalry into every blog post. It's embarrassing that we have such small minded, dumb people in this state.

Anonymous said...

11:07 hmmmm...people squealing so as not to go to prison, promoters would be next in line to serve time, who has not shown up in litigation lately......that’s who is talking.

Anonymous said...

Seems like much of this complaint is based on testimony from the top layers of this pyramid scheme, who made absurd amounts of money lying and manipulating potential investors. Clearly they were pretty good at lying, why should anyone believe their accounts of events and conversations when they are deparately trying to cut deals and decrease the amounts they are required to pay back to the receiver?

Anonymous said...

@12:05 PM - Why believe them? Because of collaborating evidence. Look up Title III USC.

Anonymous said...

ATTN 12:21 Another Ole Miss law graduate showing his or her vast legal acumen!!!

MSU Grad said...

Gigi (Chi Omega) and Jimmy Patrick (SAE) are both Mississippi State grads. Became Rebels when MSU did not recruit Stewart, but Ole Miss did.

Anonymous said...

@12:05
Is collaborating evidence stronger than corroborating evidence?

Anonymous said...

@12:21, are you saying you have personal knowledge of relevant wire taps? I doubt it.

Anonymous said...

All those named by Ms. Mills need to make an early run on the Vaseline. Especially some of the named “pretty boys”- you will be much in demand in the BOP system.

Anonymous said...

@1:08 pm, you realize the receiver is just suing to recover money, right? She doesn’t have any criminal prosecution power.

Hotty Toddy said...

For the longest time we were the Rebels. Then we tried to be the Black Bears. You should have realized something was up when we became the Landsharks. But now that you realize our defense and the Land never really existed, we should just call ourselves the Timberwolves. We can only hope this ends with BankPlus. God save the Mannings!

Anonymous said...

Appears BP did what they were suppose to do. Did the promoters know it was a charade or were they also fooled.

Anonymous said...

Lol, did what they were supposed to?

They gave office space to Madison timber and referred their clients. Literally their CFO helped along with wealth management.


I’m sorry, that’s ignorant.

Anonymous said...

Somehow, someway I am thinking Hugh Freeze is involved! Hehe

Anonymous said...

Is Gee Gee still the COO at Bankplus? I'm guessing the answer is yes, just like Alexander and Seawright are still at Baker D. Any change might indicate guilt on their part. Personally, I think they should clean house with all associated with this mess.

Anonymous said...

to 11:15....people here are obsessed with ole miss and MSU because nothing means more to them than being one of the beautiful people of the SEC.

Anonymous said...

It's interesting how none of this is covered in the traditional media. The Clarion Ledger is dead but what about the other media outlets? Where are they? Thank you JJ for keeping us up to date on developments in this case. I love reading the actual complaints. The facts are against Bankplus are strong. Punitive damages? I wonder if the regulators are asking questions? Certainly a risk factor they should consider when evaluating safety and soundness.

Anonymous said...

Hey 11:04. Does Ole Miss offer a “Rocket Surgeon” degree?
Are there a lot of rockets that come in for surgery?
At MSU we have a lot of aerospace engineers that go on to be Rocket Scientists.
Sometimes being such a smarta*s is tough for some people.
Glad to see you are so good at it.

Anonymous said...

Mills is working through civil courts, when you start seeing RICO in her pleadings you can rest assured, RICO criminal charges will result. It broadens discovery and damages. Because each of the witnesses are crooks, corroboration is a must. One other major actor and a couple of low level observers ( assistants, paralegals notaries etc) should suffice given the physical evidence. The law firms are circling their wagons. Thornton and the non-lawyers would be wise to cut a deal. When this happens, the firms will start pointing fingers at the other. The litigation tab will be 100’s of thousands for each individual and will string along for years. The government will have both federal and state cases both civilly and criminal. The IRS will have their day in court. Outside plaintiffs will take the governments findings and file their own cause of actions. Insurance, bonding and underwriting outfits will be suing to get out of their exposure by establishing fraud. Just a guess 6 years of trials and 5-10 million in legal fees cumulatively.

Anonymous said...

11:41 I agree with what you say except the part about proving fraud and escaping coverage. The lions share of the covered claims will eat the need for fraud claims excluding anything. It would be an exercise in futility though technicality correct.

To me the most interesting aspect is the overlap and of clients from banks to law firms.
Once the law firms knew or should have known about this scheme their duties to their clients to stop this scheme will inundate their best legal defenders in a quagmire or briefs.

I bet the major insurers are collectively meeting right now to fashion a remedy.

Anonymous said...

11:41 you are exactly right. Receivers can't do criminal, but government can, based on the information gleaned by the civil case. I cannot imagine the collective knots in each "players" stomach right now. I think 6 years is being kind. Hundreds will be suing everyone involved in this scheme for years to come.

Anonymous said...

Why is the list of victims being kept secret? Who is being protected beyond Wicker? Must be some big dogs.

Anonymous said...

What was there for the bank or any of the law firms to investigate? Madison Timber made every principal and interest payment for more than a decade.

Anonymous said...

"What was there for the bank or any of the law firms to investigate? Madison Timber made every principal and interest payment for more than a decade."

Wow. No wonder Adams was able to do what he did. Ponzi schemes, by definition, do that very thing, often for years, until the whole thing crashes.

Let's distill this down to simple yet analogous terms: if someone touted to you they could buy meat from Walmart at retail prices and then, turn around and sell it all to Kroger at a fixed profit of over 25%, day in day out and regardless of market conditions, but because you are special, they'll cut you in for half, would you whip out your checkbook and "invest" without the slightest hesitation or investigation/due diligence?

If a legitimate business with actual accounting records, etc., would have had the arrangement and returns Adams claimed he had, any number of banks would have been glad to lend him as much as he needed at the scale of this thing (at most, a few million at a tranche). The mere fact that he was seeking "investors" on something that supposedly paid that well with only millions in play should have been cause for careful inquiry. Even if something limited bank willingness (a past legitimate business failure/collapse, etc.) to lend, but the deal was legit, any number of individual investors would have wanted the whole package.

Anonymous said...

@12:16, you made my point. Nobody but the crooks knew until the scheme imploded. Your hypothetical is not at all analogous. Madison Timber had accounting records. It had timber deeds, albeit forged. It paid notes for more than ten years. The interest rate on the notes was good, but there are tons of comparable private equity deals available. Plenty of businesses combine private equity and bank loans. I repeat, what was there to investigate? What other “careful inquiry” would have mattered?

Anonymous said...

I tend to agree, but when a bank exec is involved, especially after email complaints, That’s pitiful. And where was her boss

Anonymous said...

To March 24, 2019 at 12:57 PM: I could not have made your point because you don't have one. I wish you luck and mercy in your investing future.

Anonymous said...

I see Randy Shell, Pinnacle Trust Senior Vice President, was on the Madison Timber Referral List. Haven't heard any more about Pinnacle's involvemen. Was Randy diversifying Pinnacle funds into timber investments? Will the Receiver claw back any "interest" Pinnacle received?I

Anonymous said...

KF / thank you for providing Pollard’s sermon on ‘Blessed are the merciful...’ We should all listen and consider the messages from the Sermon on the Mount as we approach the Easter Season.

Anonymous said...

11:04 Be Sayin': @8:12 AM - Yo bright spark, RICO is both criminal and civil.Before you open your big pie hole and start posting, do your research.Well, maybe you require a little tutoring, so because I believe in being charitable to those less capable in their cerebral function:

Thanks for tutoring me, but the basis of my post was to call you out on your comparing the ACLU to RICO. I also posted that RICO is federal, which it is. Further, I said RICO is in no way affiliated with, compared with or similar to the ACLU. Not sure why you grasped at that straw-comparison.

And thank you for telling us treble means triple. Glad you took that rocket surgery course. It would have been cheaper to have bought a fishing plug - You'd have learnt the same thang.

Anonymous said...

Manning with another interception!!!

Anonymous said...

10:57
Because...During the last 10 years 10% interest was nonexistent, the timber market was (is) at a low point, you were told not to file your deed, you never put eyes on what they were selling

Anonymous said...

“It’s more than a promise, it’s an ass reaming ripoff!

Anonymous said...

right out of the gate , before all you genius s begin debating RICO, the ACLU and bank plus, take look at what adams was purporting to be selling . he was pretending to sell TIMBER, a/k/a LUMBER. TIMBER AND LUMBER ARE COMMODITIES. ever hear of the commodities market? thats where lumber, corn, rice , eggs, cattle, and pork bellies a/k/a bacon are sold. one constant about commodities is that they are about the most unstable and unpredictable investments there are. they are subject to wild price fluctuations . any body with half a brain should have known this from the beginning, especially when adams was promising double digit returns. this entire train wreak only proves how many stupid and insanely greedy people there are in the third world republic(can) of mississippi. your esteemed senator wicker, who, according to you people, pisses perfume, even fell for this. what does that say about how smart he is? and hes out there running the county. god save us!

Anonymous said...

Lamar doesn't look as smug in his recent madison county detention center mugshot which for some reason is where he is currently housed. This might be an opportunity for some of those duped to get a face to face with him.

Kingfish said...

You left out the frozen orange juice market.

Anonymous said...

https://msbusiness.com/2017/07/gee-gee-patridge-elected-mississippi-bankers-association-board-directors/

Anonymous said...

So, that’s fun. Things keep going like this & the darned FDIC might have some job openings come up.

Anonymous said...

Do banks have insurance coverage for events like this (BankPlus)?

Anonymous said...



"I will never understand why the people here are so obsessed with Ole Miss and Mississippi State, and desperately try to work that rivalry into every blog post. It's embarrassing that we have such small minded, dumb people in this state."
March 23, 2019 at 11:15 AM

Amen! The mentality you've described, is a big part of why our children left, and urged us to follow. We DID. We're GLAD we did.

Anonymous said...

Why is Adams in a Madison County Detention Center?

Anonymous said...

“Stewart allegedly became rather so lackadaisical in his work that Cowgill often did his work for him.” Mills knows what was going on and should be ashamed of herself for including this in the filing. Attacking someone with serious mental illness is just sick.

Anonymous said...

Please explain

Kingfish said...

Four days now and media has completely ignored this story. Interesting

Anonymous said...

7:32: Who is mentally ill? Or, is being lackadaisical considered an illness? Maybe you’re being facetious.

Anonymous said...

According to the Receiver Reports, in the last year of operation by Madison Timber: $164.5 million was raised in and $85 million was paid out to past investors. Total lost funds: $79.5 million.

The Receiver has in hand about $3.8 million. She says Billings, McHenry and others were paid $16 million in commissions. Adams and partners had net equity in real estate worth about $3.5 million. All that adds up to $23.3 million.

Where is the missing $56.2 million??? The Receiver has not located much of the missing money.

Anonymous said...

1:34 Good Lord Rookie keep up. It was paid out in bogus commissions.

Anonymous said...

Not a bad gig for Tk. Stole 7 million settled for 2 and no jail time.

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Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
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