Jackson Jambalaya

There is no team I hate like Auburn. I hate them. I want to take a k-bar and stab it into their guts, then stomp their guts all over the ground. I want to burn every AU flag I see and bbq war chickens for breakfast. I was there at the Plains in 2006 for that big screw job the refs did. Aided by a replay official, Al Ford, who sells insurance in Hunstville, Alabama and whose daughter was on athletic scholarship at Auburn AND called a very controversial play the next week against Florida at the end of the game. I hate em and want to see the totally demolished, destroyed, and annihlated. I fantasize about shooting that war chicken out of the sky and would love to torch that big A in the middle of the field. Auburn's nothing but a bunch of trailer trash that couldn't even get into Troy. I hate 'em and they are going down tonight. GEAUX TO *#@* AUBURN!!!

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Other entertainment: Bill and Temperance at 7:30.
Tomorrow night: Shaun Patterson at 7:30.

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Jackson crime stats for October 12-18, 2009.

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Update II: Found a $3.3 million dollar loan issued by M&F to an Evans company. Totals and headlines are updated to reflect this new information. Copy of Deed of Trust JJ was informed by a very good source M&F's exposure is only $5.6 million, which could be covered by MVT.

Update I: Found more loans extended to Evans' owned companies in Desoto County. JJ calculates the total amount for Desoto is nearly $10 million after examining public records. List has been updated to reflect Desoto County loans.

One question that must be asked of the Evans case is exactly how much money did banks lend to the various companies owned by the Evans brothers. While the lawsuits against Jon Evans, Jackson Attorney Charles Evans, Jr., and their twenty-five companies work their way through the courts, JJ did some digging on the Madison County website and examined deeds of trust issued by the Evans' entities in favor of the local banks (A deed of trust is issued to a lender for the lien placed on the property. Think of it as a receipt for a loan filed at the courthouse.). Earlier post on Evans case

The total amount of loans issued to the Evans' companies in Madison County alone is $37,538,645 according to calculations based upon public records. There were 67 loans issued by 27 banks in Madison County. This is not an all-inclusive list but is based upon companies named in the lawsuit filed by Mississippi Valley Title Insurance Company in Madison County Chancery Court. An attempt was made to mention all releases filed by the banks on the deeds of trusts. If any were missed, please feel free to email any corrections to JJ. There are rumors of the defendants perpetuating similar frauds in other areas. However, those are just rumors at this time and JJ has focused its efforts on Madison County.

Several banks got lucky as they issued loans that were subsequently paid off on time. Others weren't so fortunate. Merchants & Farmers Bank is probably the biggest loser as its estimated the Kosciusko bank issued over $5 million in loans to companies owned by Jon or Charles Evans., Jr. While most of these loans are still performing and no actions pertaining to foreclosure have been filed, it is important to keep in mind that there is an active court order that froze the assets of the defendants. Unless the Court approves any mortgage payments, all of these loans are probably in severe danger of default. Below are the loans as well as the dates they were closed or filed, and the Evans company to whom they were granted.

Bankfirst: $1,688,828 (Madison), $2,489,246 (Total)
$448,408 on 7/3/03 to Woodgreen Development.
$480,420 on 11/14/03 to Old Agency Business Park
$760,000 on 1/7/05 to Cedar Lake Investors
$800,418 on 8/4/04 to Snowden Lane Investments. (Desoto)

Bancorp South: $2,978,081 (Madison), $4,333,666 (Total)
$448,000 on 7/3/03 to Woodgreen Development. Extended through 2013.
$250,000 on 1/15/03 to Colony Construction.
$780,000 on 1/7/05 to Cedar Lake Investors.
$1,500,081 on 7/21/08 to Park Place Commons. Was due in October 2008. No release or modification filed so assumed note is still unsatisfied.
$800,000 on 8/5/04 to Snowden Lane Investments. (Desoto)
$555,585 on 9/22/08 to Snowden Lane Investments (Desoto)


Regions: $1,961,020
$481,020 on 7/9/03 to Woodgreen Development. (Union Planters loan)
$1,480,000 on 3/9/05 to Cedar Lake Investors

Bankplus: $1,295,533 (Madison), $2,034,173 (Total)
$480,068 on 7/7/03 to Woodgreen Development.
$248,810 on 1/14/03 to Colony Construction
$183,695 on 1/15/08 to Colony Construction. Extension of above note.
$631,770 on 1/7/08 to Cedar Lake Investors
$400,518 on 8/20/04 to Brashear Heath (Desoto)
$338,122 on 8/25/06 to Colony Construction (Desoto)

Merchants & Farmers: $8,663,769 (Madison), $9,993,667(Total) NOTE: Informed source tells JJ only $5.6 million in loans are outstanding for the bank. Totals will be changed to reflect it in the overall cumulatitve total.
$321,618 on 7/23/03 to Woodgreen Development. Released on 4/28/05
$3,037,276 on 7/18/08 to Town Park of Madison.
$1,380,529 on 4/12/07 to Madison Avenue Development
$792,359 on 1/7/05 to Cedar Lake Investors
$416,329 on 9/21/05 to Cedar Lake Investors
$713,023 on 2/23/08 to Snowden Lane Investments. Mod. of earlier loan. (Desoto)
$616,875 on 8/14/07 to Snowden Lane Investments (Desoto)
$3,037,276 on 7/18/08 to Town Park.

Bank of Forest: $1,747,950
$1,296,500 on 7/21/08 to White Oaks Investments
$451,450 on 8/27/09 to White Oaks Investments

Bank of Yazoo City: $1,100,301
$800,188 on 1/29/08 to Westwoods Investments
$300,113 on 3/30/09 to Windsor Pass

Bank of the South: $700,680
$700,680 on 2/15/08 to Westwoods Investments

Renasant Bank: $1,381,150
$780,950 on 3/28/08 to Westwoods Investments
$600,200 on 6/29/07 to Madison Avenue Development

Heritage Banking Group: $781,980
$781,980 on 7/21/08 to Twinbrook Run Development

Southtrust Bank: $837,900 (Madison), $1,237,900 (Total)
$609,439 on 10/17/03 to Old Agency Business Park
$228,461 on 1/3/03 to Highland of Ridgeland. Extended maturity date to 9/13/09.
$400,000 on 8/31/04 to Colony Construction (Desoto)

Community Bank: $2,830,315 (Madison), $3,630,315 (Total)
$464,057 on 10/17/03 to Old Agency Business Park
$776,129 on 11/15/06 to Madison Avenue Development
$720,000 on 1/7/05 to Cedar Lake Investors
$520,129 on 8/1/07 to 463 Development.
$350,000 on 4/11/03 to Highland of Madison Development
$800,000 on 8/4/04 to Snowden Lane Investments. (Desoto)

Madison County Bank: $724,678
$400,164 on 10/16/03 to Old Agency Business Park
$227,899 on 11/13/08 to Old Agency Business Park. Extension of above loan.
$496,779 on 1/7/05 to Cedar Lake Investors.

State Bank & Trust: $2,446,181
$528,025 on 10/17/03 to Old Agency Business Park
$291,342 on 6/17/09 to Old Agency Business Park. Extension of above loan.
$353,079 on 9/23/05 to Cedar Lake Investors
$1,302,914 on 8/30/07 to 463 Development.
$498,846 on 4/10/03 to Highland of Madison Development

Citizens National Bank: $1,212,349
$500,170 on 11/14/03 to Old Agency Business Park
$712,179 on 1/7/05 to Cedar Lake Investors

First Commercial Bank: $0. Zero. Nada. Zip. Zilch.
$525,000 on 10/16/03 to Old Agency Business Park. Satisfied in 2006.
$304,000 on 5/2/03 to Highland CE Corp. Satisfied and released.

National Bank of Commerce: $1,360,441
$600,200 on 10/17/03 to Old Agency Business Park.
$760,241 on 1/7/05 to Cedar Lake Investors

Britton & Koontz: $2,352,102
$643,211 on 10/16/03 to Old Agency Business Park. Extended on 6/17/09 to 2012
$804,231 on 1/7/05 to Cedar Lake Investors.
$904,660 on 4/25/08 to Brashear Heath LLC. Granted extension on 6/17/09.

Holmes County Bank & Trust: $1,580,479
$800,292 on 2/11/09 to Nottaway Pointe
$780,187 on 4/22/08 to Park Place Commons

Cadence Bank: $3,439,402
$1,000,0279 on 10/27/06 to Madison Avenue Development
$1,614,402 on 12/08/06 to Madison Avenue Development. Does not say if it is modification of above note so it must be assumed it is another note.
$825,000 on 9/3/08 to Clear Creek Development.

Consumer National Bank: $792,169
$248,467 on 1/16/03 to Highland of Ridgeland
$191,702 on 2/1/06 to Highland of Ridgeland. Modified several times.
$352,000 on 9/23/05 to Cedar Lake Investors

Omnibank: $2,017,102
$775,804 on 2/2/07 to Madison Avenue Development.
$740,769 on 3/14/07 to Madison Avenue Development. Must be assumed another note as no modification of earlier note is mentioned.
$500,529 on 1/6/05 to Cedar Lake Investors

Copiah Bank: $0. Nada. Zilch. Zero.
$1,000,000 on 6/9/03 to Highland Development Group. Released later that year.

First Bank: $416,167
$416,167 on 1/6/05 to Cedar Lake Investors

Merchants & Planters Bank: $266,000
$266,000 on 4/11/03 to C&L Inc. Substitute Trustee notice filed on 10/15/09.

Guaranty Bank & Trust: $1,617,401
$808,304 on 12/29/08 to Brisbane Centre
$809,097 on 6/12/09 to Brisbane Centre

Wachovia: $900,000 (Madison), $1,300,000 (Total)
$900,000 on 4/30/08 to Park Place Commons
$400,000 on 8/31/04 to Highland of Ridgeland (Desoto)

Patriot Bank: $500,000 (Desoto)
$500,000 on 7/22/05 to Cedar Lake Investors

First State Bank : $752,640 (Desoto)
$424,319 on 6/17/05 to Cedar Lake Investors
$328,321 on 6/27/08 to Cedar Lake Investors

First Security Bank : $1,300,226 (Desoto)
$900,165 on 4/28/08 to Brashear Heath
$400,061 on 6/27/05 to Cedar Lake Investors

First Alliance Bank : $1,520,000 (Desoto)
$1,520,000 on 11/1/07 to Snowden Grove Investors. Modification of three earlier loans.

1st Trust Bank : $380,000 (Desoto)
$380,000 on 11/5/04 to Snowden Grove Investors

$37,538,645 (Madison County)
$9,722,219 (Desoto County)
$47,260,864 (Total)

68 loans in Madison County, 17 in Desoto.
Average loan size: $624,906
32 banks

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Would be funny if it wasn't so sad and true.

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Related post: Banks loaned nearly $40 million to Evans

Did a huge case of mortgage fraud take place in Madison County? Mississippi Valley Title and its parent company, Old Republic National Title Insurance Company, filed suit within the last several weeks in Madison County Chancery Court against Jackson attorney Charles Evans, Jr. and his brother, Jon C. Evans, alleging fraud.

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The trial of Birmingham Mayor and former Jefferson County Commission President Larry Langford is currently underway in Alabama. Bloomberg reports "The 61-year-old Democrat goes on trial today, charged in a November 2008 federal indictment with taking cash, Rolex watches and designer clothes in exchange for helping to steer $7.1 million in fees to an Alabama investment banker as the county refinanced its sewer debt." Article (Good article, well worth reading). Birmingham Weekly also offers some good coverage of the trial.

It was the refinancing of this sewer debt with interest-rate swap derivatives that blew up Jefferson County and forced it into what the article called Armageddon. Something that Rick Hill and Frank Melton attempted to do to Jackson earlier this year.

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Hinds County Circuit Judge Swan Yerger denied a Motion to Reassign in the lawsuit filed by Elizabeth Hall against Robbie Bell. Ms. Hall filed the motion on August 27, 2009, asking Judge Yerger reassign the case to fellow Circuit Judge William Kidd. The motion argued other cases involving the same events were already before Judge Kidd and that in the interest of judicial economy, the Court would best be served by reassigning the case to a Judge already familiar with the issues, events, and witnesses. Copy of Motion, Response, Plaintiff's Reply to Response, and Order , Motion for Reassignment

Judge Yerger denied the Motion on October 7, 2009. It should be pointed out it was Judge Kidd who presided over the criminal proceedings for George Bell, III's guilty plea. It should also be pointed out Ed Peters was Ms. Bell's initial attorney. The same Ed Peters who was thick as thieves with Frank Melton and it was Judge Yerger who did everything he could to help Melton's young carjacking protege, Michael Taylor, escape justice. See earlier post: Frank & Yerger special. So the question must be asked about this case: Is the fix in?

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The lawsuit filed by Elizabeth Hall against Robbie Bell heats up as Ms. Hall filed a response to Ms. Bell's Motion to Dismiss last Friday in Hinds County Circuit Court. Copy of Response.
Ms. Bell argued no legal duty was owed to Ms. Hall even if all the facts alleged in her complaint were true. The Response claims:

"5. The kidnapping of Elizabeth Hall was made possible through the brandishing of a handgun by George Bell, III. Exhibit "A" is an affidavit of Elizabeth Hall. It is clear from this affidavit the only reason the kidnapping was successful is because the Plaintiff was in fear for her life due to the handgun. Exhibit "B" is a Supplementary Offense Report from Case number 2007-179187. This report further supports the fact that George Bell, III was able to force Elizabeth to leave with him because he had a handgun. The report states in relevant portion "still armed with a handgun George forced Elizabeth into the car she was driving." See Exhibit "B". Copy of exhibits

6. These facts are relevant because it is believed the handgun used by George Bell, III was owned by and/or registered to Robbie Bell. Based upon information and belief, the handgun used by George Bell, III was a .38 Caliber Smith and Wesson......

7. If Robbie Bell's handgun was used to effectuate the kidnapping, the Plaintiff respectfully submits that Robbie Bell was a substantial factor in causing the Plaintiff's injuries..." It should be noted that at the time of the kidnapping, Bell was staying at his mother's home. He was a fugitive from the law as there was an active arrest warrant for Simple Domestic Violence and the police had confiscated his firearms from Ms. Spencer's home.

The Response further argues "the evidence will show that Robbie Bell knew or should have known George Bell, III had been taking drugs throughout the night, one of which was cocaine.... The Plaintiff submits that Robbie Bell let someone she knew had committed capital murder leave her home high on drugs with her loaded handgun."

The Response also claims Ms. Bell made several questionable and suspicious statements. Ms. Hall testified in the Attorney General's report "that upon Robbie Bell seeing that George Bell had brought Elizabeth back to the Trawick Drive home, Robbie Bell stated "You promised me that you were just going out to get Gatorade. You promised me!" (See exhibits) and that Robbie Bell did have some control over Mr. Bell and was able to give him "permission" to leave. Ms. Bell is also accused of helping Bell avoid prosecution for the June 2007 beating of Ms. Spencer:

"Based upon information and belief, Robbie Bell helped George Bell, III avoid prosecution of these charges by enrolling him in Narcanon, a substance abuse rehabilitation center. Also, it is believed that while George Bell was in Narcanon, Robbie Bell was instrumental in getting Heather Spencer to ultimately drop these charges.."

This is a very good point and this commentator has always wondered why the District Attorney did not prosecute Ms. Bell for helping her son avoid arrest. Bell was broke yet someone paid for him to enter an expensive treatment center out of state for three months while there was an active arrest warrant for him. Ms. Bell hosted a dinner party for Mr. Bell the night after he returned home. At what point do these actions violate Sections 97-9-105, 107 of the Mississippi Code?

"§ 97-9-107. Hindering prosecution in the second degree.
(1) A person commits the crime of hindering prosecution in the second degree if, with the intent to hinder the apprehension, prosecution, conviction or punishment of another for conduct constituting a misdemeanor, he renders criminal assistance to the other person."

a person “renders criminal assistance” to another if he knowingly:
(a) Harbors or conceals the other person; ....
(c) Provides or aids in providing the other person with money, transportation, weapon, disguise or other means of avoiding discovery or apprehension...."

The exhibits include a Summary Report of a statement given to the AG's office by Ms. Hall. The report contains several damning statements:

"On the way there (Ms. Bell's home), he called someone on his cellular telephone and stated: "I'm on my way home, I'm on my way home." Hall related that she could tell that it was a woman's voice on the phone, however, she did not know who's voice it was. ....

(At the home) Hall related that George then told her that his mom was inside. She then insisted on seeing his mother before going back inside the house.

Moments later, George used his cellular telephone to call his mother. Yet after two attempts, he did not get an answer. Hall related then, all of a sudden, Robbie walked out of the house looking unrefined in her appearance (contrast that to the well-known footage of her at the gas station in the pink shirt and nicely-done hair). Basically, her hair was not fixed and she appeared to be tired. She explained that Robbie was wearing a black in color slinky jacket with a matching black in color shirt underneath. She had on a pair of Khaki pants with about a dime sized spot of blood on the leg of her pants.

Hall related that upon Robbie noticing her, Robbie questioned her about what she was doing there.... Hall related that Robbie then turned and looked at George and said "You promised me that you were just going out to get Gatorade. You promised me!"

Not quite the picture about Ms. Bell's as painted by some, is it? According to this testimony, Ms. Bell was not exactly held against her will as she has claimed in previous court documents or by some of her defenders. As this case goes forth in the Court system, more facts about what happened that night are becoming known, something feared by a few people in Jackson.

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Jefferson County isn't the only entity who gambled with interest rate swaps and lost big. Bloomberg reports:
"Harvard University’s failed bet that interest rates would rise cost the world’s richest school at least $500 million in payments to escape derivatives that backfired.

Harvard paid $497.6 million to investment banks during the fiscal year ended June 30 to get out of $1.1 billion of interest-rate swaps intended to hedge variable-rate debt for capital projects, the report said. The university in Cambridge, Massachusetts, said it also agreed to pay $425 million over 30 to 40 years to offset an additional $764 million in swaps...." Article

Yet Rick Hill loves these things.

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Will new underwriting guidelines by FHA, Fannie Mae, and Freddie Mac affect real estate development in the Jackson metro area? It's not a hypothetical question as Yahoo News reported FHA is tightening its underwriting guidelines for condos and mixed-use developments:
"The Federal Housing Administration is getting ready to implement new rules that could, in some cases, make it harder to get a mortgage to buy a condominium unit.
The new rules were supposed to take effect Oct. 1. But the FHA announced in mid-September that it would delay implementation of the new rules until Nov. 2, and that it might modify some of the policies.
Of the several new rules and requirements, there are four that most directly affect people who want to buy condos with FHA-insured mortgages:
* "Spot approvals" are eliminated, and now the entire project has to meet FHA approval before a borrower can get an FHA-insured loan.
* A maximum of 30 percent of the condo project's units can have FHA-insured mortgages (there was no such limitation previously).
* Before the FHA will insure a mortgage on a condo, at least half the units must have already been sold (again, there was no such limitation previously).
* At least half of the condo project's property owners will have to occupy their units, down from 51 percent..."

Unfortunately there are even more severe restrictions which could further crimp the sale of condos and apartments. FHA stated in Mortgagee Letter 2009-19 the following guidelines would take place October 1 (Now November 2, See section V of letter):
"No more than 25 percent of the property’s total floor area in a project can be used for commercial purposes. The commercial portion of the project must be of a nature that is homogeneous with residential use, which is free of adverse conditions to the occupants of the individual condominium units."

"No more than 10 percent of the units may be owned by one investor. This will apply to developers/builders that subsequently rent vacant and unsold units."

FHA financing now accounts for nearly half of all mortgages underwritten. FHA requires less money down (3.5%) than do conventional loans but has a maximum loan limit of $271,000 in Mississippi. The appraisal process and credit score requirements are somewhat less stringent as well. While Fannie Mae issues mortgages up to $417,000, it requires higher credit scores and tightened its guidelines earlier this year. The Wall Street Journal reported in May:
"The government-backed mortgage-finance company stopped guaranteeing mortgages in condo buildings where fewer than 70% of the units have been sold, up from 51%....
Fannie and Freddie are both set to increase fees on condo buyers next month. Buyers without at least a 25% down payment will have to pay closing-cost fees equal to 0.75% of their loan, regardless of the borrower's credit score. The companies say these fees are necessary to protect against higher default rates....." article

Condo projects nationwide have burned lenders with much higher default rates and plummeting market values. These new guidelines will severely impact new mixed-used projects as developers will be faced with the twin prospect of overcoming the hurdles of the 25% mixed-use rule and 10% ownership limit. Prospective homebuyers can get a loan through local banks that can service the loans themselves, however, such loans usually carry higher down payment requirements, shorter terms, and higher credit scores.

The obvious question is whether the new regulations will affect projects such as the King Edward Hotel. Ben Allen, the President of Downtown Jackson Partners, told JJ most of the "downtown" projects should avoid the negative impact of the restrictions. Mr. Allen said projects such as the King Edward Hotel and Standard Life building used historical tax credits as part of their financing. In order to qualify for the tax credits, these mixed-used projects must rent out the residential units for seven years before they can sell them to qualified buyers. Mr. Allen said purely residential projects did not qualify for said tax credits. These projects and others such as Mandalay, the $35 million, 360 unit condominium development slated for the old Rapids on the Reservoir site, are probably going to find it more difficult to find qualified buyers after the new rules are implemented. While downtown will probably escape the latest credit ax, other projects in the Jackson area will probably not be so lucky.

Note: Article written by financial blogger "Mish" Shedlock on how the new rules are going to render condos in other markets worthless.

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Realtytrac published its Foreclosure Report for the third quarter of 2009. While Mississippi only ranked 40th nationwide in foreclosure activity, Mississippi foreclosures surged 50% from the second quarter of 2009 and 241% from the same period a year ago. Alabama fell 7% from the previous quarter and increased 173% from the prior year. Louisiana increased 21% from the second quarter and 98% from a year ago. Tennessee increased 4% from the second quarter and fell 9% from 2008's third quarter. Report

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Housingwire reports Mississippi will be one of the "hot spots" for Chinese drywall lawsuits in the near future:
"Many homeowners along the coast of the Gulf of Mexico, whose properties were damaged during Hurricane Katrina, likely used Chinese drywall to make repairs. These rebuilding projects took place before the industry became aware that some types of Chinese drywall contained high levels of damaging chemicals that would corrode pipes, emit foul smells......"

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Jackson crime statistics for October 5-11, 2009

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Texas

Mississippi

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Someone asks you to invest your money in his project. He provides you with a business plan, financial statements, and other documents. Everything so far seems promising, however, you decide to investigate his background to make sure he is not a con artist. A quick check of the SEC and FINRA websites show no disciplinary actions. You then examine the Mississippi Secretary of State's website for violations (the SOS has jurisdiction over securities violations in Mississippi). Unfortunately you the investor, are out of luck as Mississippi does not post violations of its securities laws nor the names of those the state disciplines on its website.

This is not the standard practice as 39 states (see note below) such as Texas, Tennessee, and Alabama protect investors from chastened Stanfords and Madoffs by posting their disciplinary records online. Alabama classifies all "Administrative Orders" by year since 2001. A list of orders for that year is posted as well as the date, action, and the respondent. The website also provides the reader with a copy of the final report (that contains the facts of the case). The other states treat such actions in a similar manner.

Investors suffer from Mississippi's failure to follow the example set by these states, as unethical brokers and dealers' misdeeds are hidden from public scrutiny. While in neighboring states a potential investor can check someone's background online within minutes, in Mississippi he has to file a public records request and wait fourteen business days for an answer, an ironic twist that benefits those convicted of wrongdoing.

Tom Freeland, an Oxford lawyer, said "The whole design of state securities laws is a disclosure model. Getting information to investors is the point of those laws. Obviously, making information available in the broadest possible form is the best way to accomplish that. The Secretary of State should put any public information about disciplinary actions on its website so they will be readily available to investors, journalists, and the public at large."

Mississippi has a duty to do all it can to protect its citizens from scam artists. The current financial meltdown has seen a sharp rise in crooked investment schemes. All too often the shysters never stop trying to trick people out of their money after getting caught. It is usually not professional investors such as Leland Speed that are victims, but average people that have some money but little expertise, thus making them perfect targets for smooth-talking thieves in three-piece suits. The best way not to lose money in investment scams is to avoid them in the first place; a goal best served by posting violations online. Mississippi should enter the 21st century and help its citizens avoid the local Madoffs for whom ignorance is indeed bliss.

Note: Other states that post violations online: Georgia, Kentucky, Missouri, Oklahoma, South Caronlina, North Carolina, Arkansas, Indiana, Ohio, Illinois, New Jersey, Maine, Pennsylvania, New Hampshire, Vermont, Maryland, Massachusetts, Rhode Island, Connecticut, Oregon, Washington, Nevada, Idaho, Arizona, Wisconsin, Wyoming, North Dakota, Minnesota, Utah, California, Colorado, Michigan, Alaska, Florida, Iowa, Kansas,

States that do not post violations: South Dakota, Delaware, Hawaii, Louisiana, Arkansas, New York, West Virginia, Mississippi


Note: Attempts made to contact Mr. Hosemann's office for comment were unsuccessful.

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From the IDF channel: "On October 12, 2009, there was an explosion at a Hezbollah weapons storehouse in Tayr Filsay, in southern Lebanon. This aerial footage, taken shortly after the explosion, shows Hezbollah operatives closing down the area around the warehouse, driving in two trucks and removing weaponry from the site. They then took the weapons to a known weapons storage facility in the center of the village of Dir a-Nahar about four kilometers away. Only after Hezbollah removed the weaponry did they allow UNIFIL and the Lebanese Army to enter the site of the explosion."

Meanwhile, Iran gets caught using some Germans to ship arms to Hezbollah according to Der Spiegel:
"In an operation reported on by SPIEGEL over the weekend, US soldiers entered the freighter Hansa India in the Gulf of Suez at the beginning of October and discovered seven containers full of 7.62 millimeter ammunition suitable for Kalashnikov rifles. An eighth container was full of cartridges suitable for the manufacture of additional rounds. The incident is particularly awkward for Berlin as the Hansa India is registered to the Hamburg-based shipping company Leonhardt & Blumberg.

Investigators suspect that the arms were part of an Iranian shipment bound for either the Syrian army or for Hezbollah, the militant Islamist group. US officials have pointed out that the delivery is in violation of United Nations Security Council Resolution 1747, which prohibits arms shipments either into or out of Iran." Article

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"Distinguished law scholar Elizabeth Warren teaches contract law, bankruptcy, and commercial law at Harvard Law School. She is an outspoken critic of America's credit economy, which she has linked to the continuing rise in bankruptcy among the middle-class"

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Want to help the Blair Batson Children's Hospital but missed out on partying with the Duckworths last month? Here is how you can help: Visit the Vote Now page and Login to vote for the Children’s Miracle Network hospital of your choice to receive an upgraded gameroom. The top three hospitals with the most votes will win. You are allowed 10 votes per day until the contest closes at 11:59pm EST on Friday, October 16th.

Vote early, vote often.

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Just redid the poll for "Favorite High School". I left out some schools such as JA, St. Andrews, Florence, and St. Jo, so I took the old one down and put up a new and improved one. Enjoy.

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Yes, that is a serious headline. The Jackson Free Press published a couple of good articles recently. The first one is about how in Mississippi, suspects have no right to examine police reports or other evidence against them in certain circumstances:
"The state court system in Mississippi recognizes a defendant's right to see evidence that might prove his innocence, but that assurance does not trickle down to the lowest courts in the state: municipal and county justice courts....
Because the state's rule for discovery does not apply to municipal and justice courts, judges at that level are free to refuse defendants' requests for evidence against them. While some jurisdictions generally grant discovery requests, others regularly deny them. In Rankin County Justice Court and Flowood Municipal Court, prosecutors refuse to share police reports and other potential discovery material as a rule...."

Apparently some prosecutors are not familiar with the concept of due process, having the right to face your accusers, and the right to examine the evidence against you. One prosecutor, Rankin County Prosecutor Richard Wilson, justified this denial of due process to defendants by stating:
"Even though I'm full time as county prosecutor, we're going to bust over 11,000 cases in justice court this year," Wilson said. "Can you imagine trying to respond to discovery requests for all that? The economics just prohibit it." Article

Someone should inform Mr. Wilson someone's guilt or innocence shouldn't be based on dollars and cents (at least in theory). The vast majority of crimes seen in these courts are probably traffic violations. One can just imagine the hordes of speeders suddenly demanding access to their police reports (which are probably just the ticket itself anyway) if they were made available for discovery. If someone is actually accused of a misdemeanor such as Assault or Simple Domestic Violence, then that person should have the right to demand a copy of the police report.

The criminal justice system is not a conviction factory but a means of determining guilt or innocence. Justice Court often is the only time those who cannot afford to appeal their cases have. ("Sorry sir, you should plead guilty or fight it yourself, my retainer is ten times what the fine will be.") Yes, it's a pain at times to provide the accused with a copy of the evidence, but the pain is even greater to someone who is in jail because the justice system refused to give him the documents he needed to prove his innocence. The refusal of prosecutors to give the accused a copy of the evidence against them is a violation of the Constitution and our fundamental rights as Americans to confront our accusers and examine the evidence against us. The Founding Fathers revered by so many conservatives paid a price in blood so we could have these rights. Unfortunately, too many think it helps the criminals or is just a liberal issue when it is actually something that protects all of us. The Mississippi Supreme Court should reform the system so that the accused can use discovery in the lower courts and ensure such reforms don't hurt prosecutors as well.

The JFP also published a story on the Heather Spencer Case as well as a link to some police reports it obtained on its website. (These are different than the ones posted on this website earlier this year. See sidebar on lower right-hand side of page for posts on the Heather Spencer case.). Copy of police reports, article. The article gives a good history of the case and shows how Heather was betrayed by the criminal justice system and those around her. It excuses Jim Hood and ignores the fact that Ed Peters was Ms. Bell's attorney, but discloses some unreported evidence such as a quote from a security officer who supposedly saw Ms. Spencer in the front yard of the Trawick home at 1:30 AM, ninety minutes before her time of death. While the Editor, Donna Ladd, makes some extremely ignorant and tasteless comments about the story on the website, it is a good article and keeps the spotlight on a tragedy that should be remembered by all.


Note: I was aware of the security officer's claim but was never able to contact him and didn't want to print uncorroborated information. (It was never mentioned in the police reports nor confirmed with anyone.) In this commentator's opinion, Robbie Bell's behavior was more egregious and criminally suspect when her son left the home for over an hour (to kidnap Ms. Spencer's roommate) and Ms. Bell did not call the police. Having said that, it was a judgement call not to mention the security officer's claim on this website. Kudos to the JFP for tracking him down and obtaining a quote from him.

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Wall Street nearly collapsed last year, American's 401k plans were decimated, the housing market crashed, the unemployment rate is nearly ten percent and the Democrats picked up where Bush left off and are now giving us trillion dollar deficits. So how exactly are they going to get more money? The Wall Street Journal gives us a clue:

"With federal budget deficits soaring, policy makers and other advocates are eyeing the huge sums that could be raised as a way to cover the costs of new initiatives.

Labor unions, in particular the AFL-CIO, have proposed a financial-transactions tax as a way to defray costs of a health-care overhaul... Liberal advocates are pushing the tax to pay for new stimulus spending.

This week, the left-leaning Economic Policy Institute floated the idea of a national transaction tax that would raise $100 billion to $150 billion a year. The tax, at a rate of 0.1% to 0.25% of the value of the trade, would be levied on all financial transactions such as stock trades, but not on consumer transactions such as with credit cards...." article

Great. lets pull more capital from the economy or chase it to foreign markets. One would think everyone saw what happens when the economy is deprived of capital. Apparently that doesn't include the Government.

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Here is one from the archives. This link is a pretty good history of the Mafia in New Orleans. Its a loooong read so pour yourself a drink first then enjoy it.

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Nothing like someone's own words to show you what he really thinks. Hezbollah's Secretary General issued the following statement on its website:

"First: Historic Palestine, from the sea to the river belongs to the people of Palestine and to the whole nation.

Second: It is impermissible for anyone and no one has the right, whoever he may be, whether Palestinian, Arab, Muslim or Christian, no matter who it is, regardless of the claims of representation anyone makes, whether representation claims of historic legitimacy, revolutionary, popular, legal or constitutional, no one in this world is entitled to give up a grain of soil from the land of Palestine, nor a drop of water from the waters in Palestine, nor a single character from the name of Palestine.

Third: the ‘Israeli' entity currently existing on the land of Palestine is a usurper and occupation entity, aggressive, cancerous, illegitimate and illegal presence.

Fourth: It is impermissible for anyone, whoever they may be, to recognize this entity, grant it legitimacy or recognize an existence for it.

Fifth: Collaboration and normalization with ‘Israel' are forbidden sins. All scholars, Islamic reference authorities are in consensus about this, and anyone that says otherwise, let him step forward and present his case.

These principles and constants are unalterable by time, circumstances, conditions, strengths or weaknesses at all...

This is our nation, for more than sixty years the whole world is pressing us into recognizing ‘Israel', to collaborate and normalize relations with ‘Israel' (so what) yet none has been able to impose that upon us.

Even the states that signed so-called peace treaties with ‘Israel' have not been able to force their people to hold relations or work with the Zionists, or to normalize relations with them.
Hence this is possible...

At the far end of vulnerability and helplessness, we are able not to recognize ‘Israel', nor give in to it or at least not to sign anything over...."
Text of speech

Did anyone notice any Muslims authorities or leaders condemning this speech?

Tehran Times coverage

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Santelli calls out the Fed at the end.

If no video appears and you are in Firefox, switch to IE. Sorry.

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JJ conducted a poll here on the website asking on who the Republican Presidential nominee should be. Alan Keyes and Ron Paul were the top two vote-getters, showing why these online polls should be taken with a grain of salt. They consistently do well in the online polls but somehow never seem to get any votes on election day.

Bobby Jindal	23 (6%)
Ron Paul	51 (14%)
Alan Keyes	54 (15%)
Sarah Palin	37 (10%)
Tim Pawlenty	26 (7%)
Mike Pence	5 (1%)
John Boehner	2 (0%)
Colin Powell	22 (6%)
Haley Barbour	36 (10%)
Mike Huckabee	25 (7%)
Dick Cheney	4 (1%)
Newt Gingrich	9 (2%)
Jeb Bush	5 (1%)
Rudi Guiliani	9 (2%)
Mitt Romney	35 (10%)
Mitch Daniels	1 (0%)

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Latest Jackson crime stats for September 28 to October 4, 2009.

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StilettoGOP went to The Auditorium recently for dinner. I asked her to write a li'l ole review of her experience. Anyone that reads her comments knows she is going to be quite candid.

The other night I was in my usual quandary about where to eat. I'm sick of the "welcome to Bonefish, your table will be ready in an hour" type greeting. Nor do I like a place to be empty. I like a happy medium. I'd only had drinks at The Auditorium before, so I thought I would try it for dinner. I was NOT disappointed. Trust me, as someone who eats out at least twice a week, I could write some pretty nasty reviews on a few places around here. So this little "FYI" piece about my Auditorium experience comes with complete honesty.

I went on a night with no scheduled concert, and at first I was bummed to see that they still had live music. I'm a person who likes to actually HEAR the person I am sitting with at dinner. However, I was pleased to see that the live jazz entertainment was tucked away at a perfect distance for you to enjoy the music, as well as your date. The atmosphere is unusual. Think, historic Ryman Auditorium in Nashville turns restaurant, but more metropolitan. The restaurant has soft lighting, vibrant abstract jazz art, and a few bears thrown in for playfulness (you'll see.) The mood was light and fun, yet you still get a fine dining vibe. There were two tables of celebrations going on, and both groups seemed to be having a great time. The owner's obviously don't seem to mind if you bring in your own balloon bouquets to add to your festivity.

As I sat down, I instantly liked our server. I could tell he'd be one of those helpful, yet not annoying servers. I was right. He was fabulous in describing the cocktail choices. I went with the Pimm's Cup because he used the word "refreshing", and mentioned the cucumber in it. That sparked my curiosity because I immediately thought, hey, spiked spa water! And that's what it tasted like. So now you can skip the spa and have a Pimm's Cup and some jazz instead.

Now on with the show-- the food. The menu is Southern with a few unique twists. Instead of the usual crab cake appetizer you see all over town, The Auditorium offers a sweet potato crawfish cake with a creole honey mustard. I ordered it and found it was as good as it sounds. Mine could have stayed in the pan a smidge longer, but the flavor was definitely there. For my entree, I chose the pan-broiled delta catfish, with smoked Gouda grits, topped with roasted corn-tomato salsa and a Tabasco butter sauce. Anything that says "Tabasco", I'm in. It actually wasn't even that spicy, but I appreciated how it gave a usually bland catfish some flavor without drowning it in butter and garlic (ahem, AJ's). Some restaurants around here should pay attention to this as they are becoming one trick ponies with their fish. However, the star of the dish was the corn-tomato salsa. The texture of the corn with the creaminess of the grits and cheese was really, really good. It was more than I could eat as they weren't shy on the size of the portion. There was also a pretty pickled okra garnish that quietly reminded you you were in the South. The whole dish was beautiful: the reds of the fresh tomato, yellows of the corn and cheesy grits, white flaky fish in its sauce... hungry? ;-)

Anyway, I thought it rocked. I'd go back just for the atmosphere alone, but when the food was that good too, I thought I'd let you guys know about it. And I'm not even getting paid!

I wouldn't turn down a complementary Pimm's Cup, though.

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Seems as though someone listened to The Kingfish about Fish & Fisher after all. Back in June, the local firm won a $1.3 million arbitration award against Toyota. I wrote in my post about the award that the Fish & Fisher creditors should "GET YOUR MONEY WHILE YOU CAN" as I documented there were nearly $2 million in liens and judgements held by close to thirty individuals, businesses, and government agencies (These were completely omitted by the media.). Post about Fish & Fisher's troubled record.

Merchants and Farmers Bank filed a complaint on July 10, 2009 in Hinds County Chancery Court a Complaint for an Injunction, Declaratory Judgement, and for Other Relief against Fish & Fisher, Renna Fisher, Jaqcueline Williams, and L & T Construction for collection of $607,028 in defaulted notes and seeking a portion of the $1.3 million award. Copy of complaint

The complaint states M&F has a claim on the award and that "as shown by the correspondence attached here to as Exhibit "F", Fish & Fisher, Inc. apparently intends to put the arbitration award proceeds to something other than full payment of Bank's debt." Copy of exhibits. "F" is on page 43. Included in exhibits are copies of notes. M&F asked for an injunction to keep Fish & Fisher from spending or transferring any of the money without court approval until the "Bank's debt has been paid." Fish & Fisher is represented by Jackson attorney Precious Martin.

The complaint was removed to federal court as there was a federal question (the arbitration part of the promissory notes are apparently governed by federal law). Notice of Removal Meanwhile, an Involuntary Petition for Bankruptcy was filed (Chapter 7) in the Bankruptcy Court on August 7, 2009 by M&F Bank and other creditors ($693,450 in claims). Petition for Bankruptcy. The Court issued an Order for Relief in an Involuntary Case on September 23, 2009, stating the debtor was "served on August 26, 2009 and has failed to file any timely defense or pleading to the petition as required..". Thus Fish & Fisher was forced into bankruptcy.

Fish & Fisher filed Motion to Dismiss in the Bankruptcy Court claiming it was never served and that "it is not insolvent" and that the petition was an attempt to "circumvent" the case filed in Chancery Court in Hinds County. Eileen Shaffer represented Fish & Fisher. the Service of Process was filed with the Court on August 31, 2009 and stated a copy of the petition was mailed to Fish & Fisher on August 26, 2009.Copy of Service of Process filing.

There are currently other lawsuits pending against Fish & Fisher in Florida and Tennessee. They repeat the same pattern as the other suits and judgements mentioned in earlier posts. Contracts are made with Fish & Fisher. Fish is paid and either is accused of not doing the work or keeping money meant for others. Fish rarely responds in court to any of these complaints. Hence, judgements and liens are issued against the firm and the creditors stand in line with everyone else waiting for a Fish & Fisher to come into some money as they did in the arbitration award so they can attach it. Meanwhile the media takes up Fish & Fisher's cause against Barbour and Toyota while ignoring all of the businesses and individuals it stiffs.

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Yes, there will be wine. ;-)

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Meredith Whitney writes in the Wall Street Journal the economy is going to slow down even more due to the credit crunch:
Since the onset of the credit crisis over two years ago, available credit to small businesses and consumers has contracted by trillions of dollars, and that phenomenon is reflected in dismal consumer spending trends. Equally worrisome are the trends in small-business credit, which has contracted at one of the fastest paces of any lending category. Small business loans are hard to find, and credit-card lines (a critical funding source to small businesses) have been cut by 25% since last year......

Why do small businesses matter so much? In the U.S., small businesses employ 50% of the country's workforce and contribute 38% of GDP. Without access to credit, small businesses can't grow, can't hire, and too often end up going out of business. What's more, small businesses are often the primary source of this country's innovation. Apple, Dell, McDonald's, Starbucks were all started as small businesses.

What's especially disturbing is how taxpayer dollars have supported "too big to fail" businesses yet left small businesses unassisted and at a significant disadvantage. Small businesses do not have the same access to government guarantees on their debt. After all, most of these small businesses don't issue public debt....

I believe that we are only in the early stages of the second half of this credit cycle. I expect another $1.5 trillion of credit-card lines to be removed from the system by the end of 2010. This includes not only the large lenders reducing exposure but also the shuttering of several major subprime credit-card lenders....

The next phase will likely be credit-line cuts as lenders race to pre-emptively protect themselves from regulatory changes associated with the Credit Card Accountability, Responsibility and Disclosure Act, passed in May of this year, and the 2008 Unfair and Deceptive Acts and Practices Act..."

What Ms. Whitney does not mention is that the expiration of the Bush tax cuts will also hurt small businesses as most small business owners file on their personal tax returns. No credit, no bailout, higher tax rates for 50% of the country's workforce. Green shoots.

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Copy of lawsuit

A $60 million dollar wrongful death lawsuit has been filed in Hinds County Circuit Court against Stuart and Karen Irby by the relatives of the deceased Dr. Daniel Mark Pogue and Dr. Lisa Dedousis for the wreck that killed the two residents on February 11, 2009. The lawsuit seeks $10 million each in compensatory damages from Karen and Stuart Irby as well as $40 million in punitive damages. The plaintiffs allege Karen Irby drove while intoxicated in a very reckless manner and that Stuart M. Irby, Sr. "negligently entrusted" Mrs. Irby with the use of the 2006 Mercedes he owned.

The Plaintiffs are Paul Steven Pogue (brother and Administrator of Estate), Susan Joiner (mother of Dr. Pogue), John Dedousis, Sr. (father), Madeline Dedousis (mother), and John Dedousis, Jr. (brother). The Plaintiffs demand a jury trial.

The lawsuit predictably claims Karen Irby "was, at the time of the accident, negligently operating the aforesaid 2006 model Mercedes automobile by driving carelessly, driving recklessly, driving too fast for the circumstances then and there existing, not maintaining proper control of the said automobile, failing to be alert while operating a motor vehicle on the roadway, failing to use due care for the safety of others, driving while under the influence of intoxicating alcohol and other acts of negligence per se which may be discovered in the course of this litigation."

The plaintiffs then get around to the issue of Mr. Irby's liability, accusing him of negligence as he was the owner of the Mercedes:
"as the owner of said motor vehicle, Defendant Stuart M. Irby had the sole and exclusive right to control the said motor vehicle and its use....
Stuart M. Irby is guilty of negligent entrustment of the said 2006 Mercedes to Karen C. Irby, whose acts of negligence and negligence per se in driving or otherwise operating the said motor vehicle which had been negligently entrusted to her were a direct and proximate cause (or were a proximate contributing cause) of the collision and the injuries, damages, and losses suffered by Daniel Mark Pogue and by the Pogue Plaintiffs; therefor such act of negligent entrustment by Defendant Stuart M. Irby is a proximate cause, or is a proximate contributing cause, of the collision aforesaid and of the injuries, damages, and losses suffered and sustained..."

The lawsuit also states Karen Irby was subject to blackouts and accuses Stuart Irby of letting her drive his car while knowing of said blackouts:
"Defendant Stuart M. Irby knew, or should have known, that Karen C. Irby was subject to experienceing "black outs" during which she lost consicousness and during which she would be unable to safely drive or operate a motor vehicle and, therefore, Defendant Stuart M. Irby knew, or should have known, that Karen C. Irby was incapablie of driving or operating the aforesaid Mercedes automobile safely...."

and that Karen Irby had a history of driving after drinking alcoholic beverages and driving while under the influence of intoxicating alcohol. One wonders exactly what the Plaintiffs are doing in making this claim. Mrs. Irby was arrested one time for refusal to take a DUI test (She was convicted in Justice Court, the County dismissed the prosecution in County Court). That seems a little weak to claim she had a "history" as there are no other arrests or convictions of Mrs. Irby for such violations. One can only speculate at what evidence the plaintiffs will produce to support such allegations. The complaint states Stuart Irby knew or should have known about this history and that his allowing her to drive thus constituted negligent entrustment on his part, thus making him liable to the plaintiffs for their loss.

The Plaintiffs charge the Defendants with the following Count I, Acts of Negligence, Negligence PER SE, And Intentional Acts of Defendant Karen C. Irby, and Count II, Acts of Negligence, Negligence PER SE, And Intentional Acts of Defendant Stuart M. Irby. The plaintiffs ask for $20 million in compensatory damages and $40 million in punitive damages.

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The BLS released one little nugget of information in its report Friday that might cause some concern. It turns out as of March, it understated the number of unemployed by 824,000. See Table B. It won't announce the effect on the overall unemployment rate until February 2010. How convenient. The average revision has been .2%; it is .6% in this report. This of course, doesn't include job losses since March.

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Just more proof on how clueless or weak Obama is when it comes to placing sanctions on Iran. Going to be hard to do anything about Iran when Russia is helping them build nukes and the Chinese are constructing refineries in Iran. The Times of London reports:
"Israel's prime minister, Binyamin Netanyahu, has handed the Kremlin a list of Russian scientists believed by the Israelis to be helping Iran to develop a nuclear warhead. He is said to have delivered the list during a mysterious visit to Moscow..... " Article

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He also defended Stalin's mass murder as well. H.G. Wells wasn't too far behind him either. Here is another one where he tells us in 1931 to "abolish" the Constitution.

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Great scene from a great movie. Here is the female lead:

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• Synopsis
• Travelstead Motion to Dismiss
• McCraney Notice to Remove
• Exhibits

Well, the Steadivest scrum is heating up as two of the defendants in the lawsuit have filed motions in court. The lawsuit claimed Steadivest and other defendants defrauded investors for millions of dollars in a sale of phony promissory notes. Defendant and Attorney Patrick McCraney, Jr. filed a motion to remove the lawsuit to federal court, claiming it belonged in the bankruptcy action. Fellow defendant Joel Travelstead filed a Motion to Dismiss and claimed he lost $200,000 to fellow defendant Marshall Wolfe. As this case has grown pretty complex, I've written a synopsis so that this case is easier for readers to follow.

Synopsis:
Steadivest is a "Family of companies" according to a letter written by its managing member, W. Marshall Wolfe. The family consists of Steadivest Capital, Steadivest Development, Steadivest Lending, Steadivest Properties, Steadivest Resources, and the Steadivest Contrarian Fund (Hereafter the "family" will be referred to as Steadivest.). It dabbled in mortgage lending, new construction, buying and selling real estate, renovating and flipping properties, and managing real estate portfolios for investors. It sold promissory notes to investors as well. Earlier post

Several individuals were connected with most of these companies: Marshall Wolfe, Patrick McCraney, Jr., and Jack Harrington. Patrick McRaney is listed as the registered agent for Steadivest Capital, LLC (formerly TFS, Tactical Financial Solutions) and the officer of the the Steadivest Contrarian Fund. Jack Harrington is listed as the member/officer of Steadivest Capital, Steadivest Resources, LLC and Steadivest, LLC. Marshall Wolfe is listed as the member/officer/director of Steadivest Capital, LLC, Steadivest Properties, the registered agent of Steadivest Development, LLC, and the officer of Steadivest Lending (now defunct). These individuals also were listed according to an SEC filing as the executive officers for a fund called the Investlinc/TFS Income Fund. Lee Paris was listed as a promoter of the fund and the majority owner was another company owned and operated by Wolfe. It should be pointed out this was a fund and not Investlinc Securities that is also owned by Mr. Paris.

Several investors sought a temporary restraining order against Steadivest in March. TRO post with copy of petition. Several days later Steadivest filed Chapter 11 bankruptcy, thus quashing the TRO request. The investors then filed a motion in bankruptcy court as creditors asking the Court to convert the Chapter 11 filing to a Chapter 7, alleging Wolfe was only filing bankruptcy for one company (where all the debts were placed) while operating his other companies. The Court agreed and converted the 11 to a 7 and all Steadivest companies were placed under the same filing.

The investors then filed a lawsuit in Rankin County Circuit Court claiming Wolfe, Harrington, McCraney, Investlinc/TFS Income Fund, Steadivest, Justin Adcock, and former partner Joel Travelstead committed fraud and operated a Ponzi scheme with their money. Earlier post, includes copy of lawsuit. Investlinc recently filed a Motion to Dismiss and claimed Wolfe was never an employee or officer of Investlinc and that he "fleeced" Investlinc as well. Investlinc claimed "As he did with the Steadivest Companies, Wolfe deceived, betrayed, and victimized the Investlinc Fund and its investors." Post on Motion to Dismiss filed by Investlinc. Several of the investors were close to Wolfe: his next-door neighbors, childhood friends, members of his church, and members of his wife's family.

It should also be pointed out Bancorp South fired Wolfe for selling unregistered securities (promissory notes) to his Bancorp South clients for a company he was operating "on the side" in 2004. The bank then reported his actions to the Securities Division of the Secretary of State. The State fined him $10,000 and suspended his license for one year. The State also fined MTW, the "side company" $10,000, of which Travelstead was a part-owner and cited Travelstead as an active participant in the violation. Post on discplinary actions. Travelstead ceased his association with the Wolfe/Steadivest companies in 2007 and now claims he was victimized by Wolfe as well.

Jackson Jambalaya also examined the deeds for dozens of properties owned by Steadivest in Hinds and Madison counties. The deeds of trust for many of them were suspicious in nature as they showed liens placed on them by Investlinc/TFS Income Fund only a few weeks before Steadivest filed its bankruptcy petition. JJ also discovered a warranty deed for a property in the Reunion subdivision in Madison County that was transferred from Steadivest to Jack Harrington, a member of Steadivest Capital. Post on possible shell games

Travelstead's Motion to Dismiss
Joel Travelstead filed a Motion to Dismiss on September 28, 2009 in Rankin County Circuit Court in response to the lawsuit filed against him by the Steadivest investors. The Motion states Travelstead severed all ties with these companies in 2007 and the Plaintiffs make no specific allegation of fraud or misrepresentation against him and that the action against him is vague. He claims he lost $200,000 after he left the company and has the same rights as they to recovery.
Copy of Motion to Dismiss

McCraney's Motion to Remove
McCraney filed in U.S. District Court in Jackson a Notice of Removal on September 30, 2009. The Notice argues all claims made by Plaintiffs are subject to binding arbitration agreements they allegedly signed. McCraney then argues the subject of the lawsuit is a matter for the Bankruptcy Court and the Court should determine if the Bankruptcy Court is the "appropriate forum". It should be noted McCraney listed Cynthia Speetjeens as counsel along with Judson Lee. Such an association requires no further comment. Copy of Motion to Remove

The pattern thus becomes more clear: several defendants are filing motions to dismiss and all claiming Wolfe victimized them as well. Translation: Everyone is throwing Wolfe under the bus. Wolfe's home is still for sale and its listing price was reduced from $879,900 to $749,000. It was first listed last fall for over a million dollars.

Exhibits
Several commentors accused this blog of favoring one side of the lawsuit by not including all of the exhibits filed by the Plaintiffs. Several have been posted already, here are the rest.
Exhibit 1 : A document prepared by Tactical Financial Solution (TFS). TFS later was renamed as Steadivest Capital and Jack Harrington and Marshall Wolfe were listed as members, McCraney as registered agent. The exhibit is 80 pages. Page 15 gives the bios of the management team.
Exhibit 2 : another document given to investors and prospects. It is 56 pages.
Exhibit 3 : more agreements, proformas, and information for investors

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Most JJ readers are Ole Miss and MSU fans according to a recent poll. USM, way to represent and JSU, well, we won't even mention you guys. I'm ready for tomorrow although I'm picking UGA. Until we learn how to block, our D line can actually stop a running play, and our qb quits taking five-step drops, its going to be a four or five loss season. I'm still picking Ole Miss to lose four games. Nutt is the Dale Brown of SEC coaches.

LSU	21 (8%)
Mississippi State	76 (29%)
Alabama	9 (3%)
USM	30 (11%)
JSU	5 (1%)
Georgia	3 (1%)
Tulane	3 (1%)
Tennessee	2 (0%)
Auburn	5 (1%)
Texas	2 (0%)
Florida	0 (0%)
Ole Miss	84 (32%)
Notre Dame	1 (0%)
Oklahoma	5 (1%)
USC	3 (1%)
Anyone Oe Miss plays	4 (1%)
Kentucky	0 (0%)
Texas A&M	1 (0%)
Arkansas	0 (0%)
Anyone Notre Dame plays	3 (1%)
Meechigan	4 (1%)

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