Tuesday, December 6, 2022

Sentencing Scheduled for Papa Lane

 Will David Lane go to prison for his role in the HOA embezzlement scandal?  The U.S. District Court posted in the docket of U.S.A. v. David Luke Lane

Set Hearing as to David Luke Lane: Sentencing set for 12/16/2022 at 1:30 PM in Courtroom 6A (Jackson) Wingate before District Judge Henry T. Wingate. (TDB) (Entered: 12/05/2022)

David Lane and his son David, operated Ridgway Lane.  The realty company managed homeowners associations.  Unfortunately for the HOA's and their members, Lane embezzled more than $2 million from their accounts.   

Lane waived indictment and agreed to a bill of information on November 8, 2021 and pleaded guilty to bank fraud.  The bill states Lane embezzled funds and provided phony account statements.  Several HOA's stated in civil lawsuits that Lane refused to provide copies of bank statements.  The HOA's could not even access their own accounts nor get bank statements as Lane often limited access to himself.  

The younger David Lane has not been prosecuted although he is a defendant in several HOA lawsuits.  The HOA lawsuits are all pending.  Community Bank was named as a defendant in many of the lawsuits.  The bank filed motions to enforce arbitration agreements in November.  Lane apparently signed the agreements as he maintained the accounts.  Nothing has been filed in any of the lawsuits since November.  Circuit Judge Dewey Arthur approved the motions.  

Community Bank apparently has been dismissed from the lawsuits.  There are several orders stating the bank was dismissed after a settlement was reached with various parties.  Several more orders are sealed. 

Attorney Merrida Coxwell represents Lane.  

The victims  and the amounts embezzled (based on civil lawsuits) are: 

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

20 comments:

Anonymous said...

So many things have happened since then. It seems so insignificant in retrospect. Let him go free!

Anonymous said...

9:31 - How would you define that brand of 'justice'?

Second question: What are the 'so many things' to which you refer?

Anonymous said...

The "so many things" that have happened to me have been paying a $17,000 assessment to the homeowners association to make up for what was stolen by Lane. It's ridiculous that he he's been free this whole time to try and hide more of his and his family's ill gotten assets.

Anonymous said...

He isn't connected with the MS good ol' boys, nor a friend of Pheel or Tater, so he is likely going down hard.

Anonymous said...

Yeah, F'em. They need to be strung up by their nuts, in public. Where is, or what was bought with the money? Tangible products, trips, in an offshore account, up their nose? Screw both of them. They stole a great sum from my neighborhood as well that's not listed.

Anonymous said...

If I had had to write a $17,000 check as my part of making up what Lane stole...and I found myself at the Kroger checkout looking at my balance prior to writing a check...and there was Lane behind me in line...I wonder how quickly the Madison PoPo would arrive to pull me off of him?

This man needs to be sentenced to jail with a reporting date of the next day. No Christmas dispensation until January.

Anonymous said...

He'll probably end up ina country club type setting with other financier types and come out better educated to do this all over again.

Anonymous said...

My family has to pay extra assessments for the past year or so plus many years ahead in Bridgewater I. It’s about $3K extra HOA assessment each year for many years. The Lanes should go to jail ASAP. The HOA board didn’t monitor what this guy was doing behind the scenes. HOA board members at the time Lane was in charge are partly responsible for each homeowner writing larger HOA checks these days. Potential home buyers beware - rising mortgage rates, inflation, poor stock market returns, plus extra HOA assessments in Bridgewater I. Merry Christmas!

Anonymous said...

Ban HOA's.

Anonymous said...

@1:36pm - If only.

Anonymous said...

@11:24am - Apathy by people that live in HOAs caused this. Most people don’t understand what they’re buying into when they purchase a property encumbered by a covenant deed restriction (HOA).

For the most part, people just want to be left the hell alone, live their lives, and just pay their annual assessments while never bothering to attend meetings, ask questions, or attempt to serve on the board. If everyone was more engaged in their HOA, that affects their property and possibly wallet, things like this would be caught on the front end, and you won’t end up in a situation where you have to pay special assessments to cover the mistakes of the busybody ignorant Karens that get on these boards because they don’t have anything better to do. Residents with careers that should be on these boards - accountants, attorneys, and other career professionals with something to offer other than being a nosy neighbor with too much free time and an inferiority complex - will typically run HOAs as they should. Pragmatic, educated residents that don’t have the time to be on a board, are the best folks to have on the board. Because they’ll take care of the things that need to get done and that’s it, and do it efficiently because they don’t have the time to sit around and think how they can harass the “people” in the neighborhood that they don’t like. They more likely understand the purpose and function of an HOA and will do things right.

So make some time, get involved, and kick those busybody Karens off your boards and take your neighborhoods back. When you do, be sure to post detailed minutes and financials to your residents, at least on a quarterly, if not monthly, basis. It will head off any questions about what you’re doing and how your spending everyone’s money and go a long way in building trust in a board that will do things correctly and protect the neighborhood from people that should never be on an HOA board and companies like Ridgeway Lane.

Anonymous said...

Actually, 3:14, people, for the most part, just want to be left the hell alone WITHOUT assessments or dues paid for somebody to regulate their shrubs, the placement of their garbage can, whether they park a foot off the driveway or how often they paint the fucking gutters. Your entire post is pure bullshit.

Anonymous said...

For those living in a subdivision that has one of the HOA's impacted by the Lanes why are YOU being penalized for your HOA getting duped? There is no way on God's green earth I'd pay an "assessment" fee for this.

Anonymous said...

@5:55pm - 3:14pm here: I don’t disagree with you. My post was directed towards people that live in HOAs, of which there are many. Most, if not all new neighborhoods are developed with them already in place. My post was intended for those that live in an HOA neighborhood (and don’t want to move out in to the country so they don’t have an HOA). The only way to avoid something like Ridgeway Lane or any other mismanagement situation is to get your heads out of the sand and get involved.

Anonymous said...

I’m a member of the set of people Lane stole from.

He and his son were both in on the scheme.

I’ll say this though….if you had to deal with the wretched sacks of shit who live in a few of these subdivisions (or old folks condos) you’d have a little better understanding of why they stole that money…..I’d of stole it too and done all sorts of drugs just to forget I had to back and talk them next month.

Anonymous said...

Rest In Peace, Mills Lane.

Wait…wrong Lane.

Anonymous said...

3:14 I agree.

The 5:55s of the world are also justified in that opinion so I highly recommend they simply don't buy a home in an HOA. That is how I handled my own disdain for them.

And though off topic...I highly recommend folks apply that same HOA participation logic to jury duty.

If you are intelligent and have a busy career you are the exact person who shouldn't be trying to get out of jury duty. You will wish some educated folks with jobs show up if your family members are ever seeking justice.

Anonymous said...

10:38 times one million

Someone needs to catch Jr ousside' and do a lot more than Will Smith did.

If I was being assessed these stolen funds, I would be far past livid.

Oh give me land, lots of land; don't fence me in said...

1:36 - don't have to ban those HOA's. Just use the feet at the bottom of your lower limbs and walk away from those properties when looking for a new home.

There isn't a property around, no matter how nice and at an absolute rock-bottom bargin price, that I would consider if it were located within a HOA. Too many self-centric, self above service individuals that move into taking over the HOA Boards for my doings. Wouldn't put up with their normal everyday actions, much less their incompetence in managing other people's money.

Anonymous said...

If you don't like rules and regulations for your neighborhood, then don't live in one with a Homeowner's Assoc. I have a family member that is president of one and it is HELL dealing with the neighbors that continually violate the rules they AGREED TO when they purchased a home in the neighborhood. It's not all about garbage cans and cars on the street.


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