The wheels of justice won't turn for awhile as sentencing was postponed for convicted fraudster David Lane.
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 Court postponed Lane's sentencing due to health reasons. An earlier motion states:
Mr. Lane is currently receiving cancer treatment from Dr. Manubhai Patel, MD, a member of the Jackson Oncology Associates. Mr. Lane’s diagnosed cancer is urothelial carcinoma involving the left renal pelvis. In January 2020 Mr. Lane underwent Nephroureterectomy, which is the removal of his kidney, his entire ureter, and a small piece of his bladder. He received adjuvant chemotherapy with Taxol and Carboplatin from March until May 2020.
2. Mr. Lane thought he had successfully won the battle with cancer but a PET scan in June 2020 revealed metastatic disease to the nephrectomy bed and periaortic adenopathy. Mr. Lane is back to receiving chemotherapy with the drug Keytruda, which will continue until July 2022.
The Justice Department also needs time to establish the amount of the loss for sentencing guidelines. U.S. District Judge Henry Wingate postponed sentencing to September 15 at 9:30 AM.
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.
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
15 comments:
Sounds like Death by Ankle Bracelet.
Are they pushing the can down the road so they won't have to pay for his medical care? The sad thing is that they stole far more than $2 million because of the smaller HOAs that were defrauded, but didn't want to lose more by pursing litigation.
Sounds like an acute case of incarceritis.
He will never serve a day in jail-
Until folks like David Lane, Michael and John Coleman, Marshall Wolfe, Lamar Adams, etc. start doing real prison time, this will never stop. Twenty years in Parchman would be a good start for the Colemans. It's in the delta, so their family could visit them easily.
Hell, Dickie Scruggs and his son were flaunting their ill-gotten money in Omaha watching the Rebels play (they flew in a private jet of course). Hell, any idiot could make money winning big lawsuits when you are bribing the judge.
When the punishment is small compared to the crime, it will continue to happen. If I can steal $10 million, keep the money, and serve 60 days in jail, I might consider stealing the money.
Lamar is doing 20 years.
Of course in state court, he would have a 15 sentence and be out in a couple of years because his crime was non violent.
Thanks KF. Good to know on Lamar. But honestly 20 years isn't enough (in my opinion) considering the lives he ruined. I hope he does the entire 20. And the prison he is in won't be miserable enough either.
"Hell, Dickie Scruggs and his son were flaunting their ill-gotten money in Omaha watching the Rebels play (they flew in a private jet of course). Hell, any idiot could make money winning big lawsuits when you are bribing the judge."
Dickie and Zach were convicted of attempting to bribe Judge Henry Lackey but it was over a fee dispute with other lawyers not any of the various things he made his money litigating/settling. In fact, his biggest lick was the tobacco settlement - what judge do you think he bribed in that litigation/settlement?
@3:46 So do you think that is the only time Dickie ever bribed a judge?
@4:02 PM It's Mississippi, so that's a given.
The sad thing is that his son David was just as guilty if not more do. The old man gave himself up to save his son. Because he knew his life was essentially over....
So now two fraudsters steal millions and neither will go to jail. Only in Mississippi.
@8:10 you are correct.
Since when does "saving money" factor in to how we choose to incarcerate people? Throw his ass in Parchman and let him have some of that world class medical treatment the rest of the criminals get.
What this boils down to is: they got away with it.
@12:03 Sadly you are correct. The Lanes will get away with it. Marshall Wolfe served just a few years in a country club federal prison. Dickie Scruggs served very minimal time. They always get away with it. It's rare that they actually have to face the consequences. I'm betting the Colemans get away with it.
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