A Rankin County court approved the sale of David L. Lane's Ridgeland home for $293,000. The proceeds from the sale will be deposited with the court.
Ridgway Lane manages homeowners associations. David L. Lane and David W. Lane are the President and Vice-President of the company. Eleven homeowners associations sued Ridgway and the Lanes in Rankin County Circuit Court, alleging the defendants embezzled over two million dollars from accounts they managed for the HOA's. A list of the lawsuits and alleged embezzled amounts is posted below. The HOA's accuse the defendants of embezzling over $2.3 million from their accounts. The lawsuits charge the defendants with breach of contract, conversion, unjust enrichment, negligence, civil theft, and breach of fiduciary duty. Circuit Judge Dewey Arthur consolidated all of the lawsuits.
The courts froze the assets of the defendants. Neither Lane can sell his home without the court's consent. The Court approved the sale of David L. Lane's home on 106 Alicetown in Ridgeland. It is jointly owned by Lane and his ex-wife. Lane and Pamela Lane divorced in February. The contract sale price is $293,000. A deed of trust for $150,000 was issued for the home in 2014 by Fidelity Bank in Baton Rouge.
Note: The Lanes are accused of embezzling from the following HOA's:
Bridgewater 2: $343,938
Bridgewater: Over 500,000
Dinsmor: $217,782
Barrington: Hundreds of thousands of dollars (An estimate of $200,000 will be used in the total as a minimum).
Bruenburg: $188,330
Oakhurst: $168,000
Diplomat: $28,000
Palisades: $87,000
Eastbrooke: Over $500,000
Timbers: Over $90,000
Wrenfield: $9,000
Earlier Ridgway Lane posts
David W. Lane's default judgment withdrawn.
Ridgway Lane cases consolidated.
Bridgewaters sue Lakebend.
Baby Lane Blames Papa Lane.
Bruenburg Discovers More Missing Funds
Injunctions issued against Ridgway Lane & the Lanes.
Contempt for Lanes?
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.
20 comments:
A modest home for a big time swindler- where did the $ go?
I’m Just thinking out loud, but I would have thought he would have had a home much larger and valued a great deal more. Not to say the home is not nice at $293k, but I would have assumed he would have a home valued at much much more due to it being a status symbol. $293k is not a rather large amount and it surprises me. Am I looking at this wrong? Maybe I’m comparing apples to oranges with the Lamar Alexander case with a 1,000,000 home
Didn't he buy or have a contract on a house in a gated NE Jackson house that went sour once that came out and it fell through near RHC?
Strikes me that they bled these HOAs for smallish amounts over a long period of time. Therefore, my guess is the money supported lifestyles beyond the means of regular pay.
Looks much nicer than the Madison County jail, which is where he ought to be sitting right now.
I wonder why Pamela divorced him?
When someone is (allegedly) embezzling money, it is prudent not to exhibit conspicious consumption and draw attention to yourself.
A $300,000 home is not a shack, but also not a McMansion. It was originally listed for $325,000. This is a firesale. It's a nice home.
10:10, I think you .... and most people .... know why she divorced him. Asset protection.
10:25. That and the realization that she was married to a thief!!!
She gets her half, and a lawyer gets his half.
Yes he had contract on a house in Northeast Jackson bc he liked to be seen with the northeast Jackson elite cool crowd at that tennis club and eastover area. However, it fell apart for obvious reasons once then cameout
10:49 Who got the earnest money on the River Hills cancelation???
The Chicago condo is up next.....
@ 10:59 I assume he still hangs out at the tennis club.
I haven't kept up with this situation, have these guys been indicted? If not, why not?
Many Bridgewater I roadways sit in disrepair - plus a foot or more of standing water unable to go into stopped up storm drains like on Bridgeview Circle near Bridgewater Crossing. You need a boat to navigate that intersection. The water finally trickles into the drains in a day or two. No one does anything. The money has been wasted. Sad.
Many people are saying Bridgewater is a wasteland with roads worse than those in Jackson. Sad!
It has really impacted BW - at least the original areas - just a drive through makes that clear. So unjust for all the HOA's where people trusted their annual dues were being managed and protected.
5:36; After about three years of that, why didn't those folks go to the community tool-shed and arm-up with pitchforks, torches and hoe-handles? Were they ALL pussies? Had none ever played high school football?
I think some of you are getting the Lanes mixed up. David "Jr.", who is married to Bethany, had the contract in Petit Bois. And I believe their home is in Canton, not Ridgeland.
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