Will the Lanes go to jail? Both Bridgewater I and II homeowner's associations filed motions to show cause yesterday in Rankin County Circuit Court against Ridgway Lane, David W. Lane, and David L. Lane. The HOA's claim the defendants are attempting to unload assets and refuse to provide a list of their assets. Ridgway Lane managed over twenty HOA's in the Jackson metro area.
A motion to show cause is a request for the court to order the other party to give a good reason why it should not be found in civil contempt of court. The court can accept the reason, order a remedy, or impose a penalty such as a fine or jail.
Eleven homeowners associations sued Ridgway and the Lanes since November 7 in Rankin County Circuit Court, alleging Ridgway Lane embezzled over two million dollars from accounts it managed for the HOA's. The list of alleged victims include homeowners associations from such prestigious neighborhoods as Bridgewater, the Barrington, and The Palisades. Secretary of State records state that Richard Ridgway and David L. Lane are the owners of the company. David L. Lane and David W. Lane are the respective President and Vice President of the company. The lawsuits accuse Ridgway and the Lanes of embezzling over $2.323 million from HOA accounts.
Bridgewater I alleges the Lanes of embezzling more than $500,000 while Bridgewater II accuses the Lanes of taking $343,983 from the HOA. Both HOA's obtained temporary restraining orders against Ridgway and the Lanes. The orders froze all assets and required them to provide a list of their assets.
Circuit Judge John Emfinger extended the TRO's on November 22. The Bridgewater lawyers protested at the hearing that David W. Lane quitclaimed his Deerfield home to his wife in violation of the TRO. The house is listed for sale. He asked the court to delist the home. "I don't want Mr. Lane to have any funds in his possession," said Mr. Lidell. He said the Lanes have not provided a list of their assets and that failure to do so violated the TRO as well. The attorney argued the Lanes could sell the home below market value and cheat the alleged victims out of their rightful recovery. Judge Emfinger said the plaintiffs could file motions to show cause if the deadlines were not met. Bridgewater did so in this motion.
The motions charge Ridgeway Lane with several violations of the TROs:
* A list of assets has not been provided to the court.
* The Lanes have only identified one bank account.
* The Lanes have not identified the property they own.
* David L. Lane's house is for sale.
* David W. Lane quitclaimed his house to his wife the day the first TRO was entered. He has not provided any evidence that the conveyance was reversed.
The motions ask the court to order the Lanes to "show cause why they should not be held in (civil) contempt". The motion for Bridgewater I is posted below. Bridgewater II's motion is almost identical to it so it is not posted.
Attorney Roy Liddell represents Bridgewater. Mason Heidelberg, Esq. represents Bridgewater II.
Earlier Ridgway Lane posts
Ridgway Lane Update: Timber!
Lane responds.
Eastbrooke: Lanes stole over $500,000.
Oakhurst sues Ridgway Lane
Payroll company sues Ridgway lane
Ridgeway Lane Update, TRO's Extended (Lynch Mob Edition)
Bruenburg Sues Ridgway Lane
St. Ives Escapes
Add Stonebridge to Ridgway Lane List
King Kenny Rulz, Bridgewaters get freeze.
Lawsuit: Lane Confessed
Dinsmor losses over $200,000
On deck: Bruenberg
Up next: The Barrington.
Bridgewater goes for freeze, Bridgewater at Old Agency says RL embezzled over $340,000
Palisades plundered.
Dinsmor HOA discoveres "irregularitites."
Bridgewater accuses HOA manager of embezzlement.
6 comments:
at a certain point in time the lawyer who assists a defendant violate court orders faces serious ethical problems.... the next hearing will address Coxwell's counsel to his client on these very points.
I still think a woman is behind all this-
Where’s Bubba??
@9:46
That Ashley Madison data dump from a few years back had a David Lane as a customer. The card billing address given was the RL office on Airport Road.
Jimmy Buffett once considered whether a woman was to blame and concluded "It's my own damn fault."
How much did the Lanes lose in the Ponzi scheme?
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