SEC Receiver Alysson Mills filed her status report in the Lamar Adams case last Friday. The report is posted below.
The SEC is trying to claw back illegal profits earned by Lamar Adams and promoters of a $164 million Ponzi scheme based on phony timber investments. Receiver Alysson Mills represents the SEC. She will recover assets, distribute them among the victims, and provide progress reports to the court. . Adams is currently incarcerated in federal prison after he pleaded guilty to one count of wire fraud. The case is assigned to Judge Carlton Reeves.
Ms. Mills must file a status report every sixty days.
12 comments:
Meanwhile, McHenry was sailing on the reservoir having a grand time yesterday.
All the low hanging fruit was picked manymonths ago.
Not a single deposition has yet to be taken in any of these cases-
Can you say years-
The Receiver claimed quite a few people cashed out their investments and thus profited from the ponzi scheme even if they were unaware of its fraudulent nature. Um..... has she gone after of those that have not been reported? That was how the receiver had such a high recovery in Madoff.
McHenry continues to skate-
Early in, early out, and that's what I did, and retired at age 50 in the Cayman Islands. The diving is great as are the tropical beverages. I was even able to get citizenship here.
AMF
When is she going after Stacy Wall, formerly with Pinnacle Trust?
She already got Stacey…Kingfish reported last month that Pinnacle/Stacey settled for $500k. Reading the report, turns out Stacey was about 10th on the list of guilty parties. Which was apparently to get him fired from his own company, as he is no longer employed. The legend of Lamar Adams gets you one way or another
So this McHenry guy secured at least $18,000,000 in investments in this timber Ponzi scheme, and he's found not guilty because he's schyster and a dumbass, and "didn't know" that he was placing his clients in a fraudulent investment scam?
If this cat is still showing his face in public after offering up this as the only defense he could come up with, it tells you all you need to know. Zero integrity.
Not guilty due to dumb-assery? Clinton level, at best. Or maybe Bryant level, if we want to keep it down home.
Stacey is on his new RV traveling From Florida to Omaha then who knows where
McHenry skated because the prosecutor was dumb enough to call Lamar Adams, the lead culprit, to the stand in McHenry's trial...and HE testified that Ole Bill knew nothing about the fraud. In effect, the prosecutor got McHenry off.
McHenry has diamond studded skates, a golden parachute and a silver spoon for life.
What about Seawright and Alexander? They seem to have suffered no consequences from this, and are the only two that I personally know that pitched the investment and screwed their friends.
Seawright and Alexander were indicted for securities fraud, and the case will be tried this year.
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