Friday, September 29, 2023

Timber! McHenry in Jail

 William McHenry of Madison Timber and Lamar Adams fame is in jail.  


The docket in Mills v. Billings et al stated on September 25: 

Motion Hearing held on 9/25/2023. APPEARANCES: Brent Barriere (Plaintiff's counsel); Abby Brumley Edwards and Kimberly Gore (Defense counsel), William B. McHenry (Defendant). The Court GRANTED [124] MOTION for Contempt  against William B. McHenry, Jr. filed by Alysson Mills. Exhibits admitted for the purpose of the hearing: P-1, P-2, P-3, P-4, P-5, P-6, P-7. The Defendant was ordered to pay $31,450.00 to the Receiver and shall have until 5:00 PM to report to Madison County Detention Facility. The Defendant shall remain in the custody of the U.S. Marshal Service until the amount is paid in full.

Mills filed her motion for contempt on March 22 in U.S. District Court.  The motion states McHenry filed bankruptcy in 2020 and listed the Receiver as a creditor.  Mills had obtained a judgment against McHenry for $3,473,320 in the Lamar Adams case. 

Mills objected to the bankruptcy, arguing he lied in his bankruptcy filings.  The Receiver "examined" the defendant under oath at a debtor's exam in 2021.  McHenry did not provide all of the records request and "could not identify the source of any deposit into his bank accounts and could not explain how he covers his monthly expenses."


The motion states: 

For years, Bill McHenry has disposed or hidden assets and made his finances impossible to be scrutinized. The assets that McHenry sold or hid over the past four years emanate from the same source: proceeds of the Madison Timber Ponzi scheme. Indisputably, McHenry had no source of income other than Madison Timber commissions to purchase any assets.11 Those assets should have been turned over to the Receivership Estate to satisfy the final judgment for the benefit of Madison Timber’s victims. Instead, McHenry has engaged in a years-long campaign to evade enforcement of the judgment.

A federal grand jury indicted McHenry in 2019 for securities and wire fraud in the Lamar Adams case.  A jury acquitted him after a trial in December 2019.  

 

15 comments:

Anonymous said...

Debtor's prison. Who knew?

Anonymous said...

It's actually contemptor's prison.

Which has always been a thing.

Anonymous said...

He can feel lucky that the feds use the Madison Co. Jail and not the Raymond gangster-run cess pool.

Anonymous said...

If there’s anyone who reads this blog that makes a living by cheating people, this is proof that your time is also coming. You better think twice before you screw somebody over again. What goes up, must come down and they will scratch and claw until they find a way to make you pay.

Anonymous said...

Will he sit in jail and allow his family (does he have a spouse?) to keep using the hidden funds or cry uncle, divulge his hidden nest egg, and go home broke.

Anonymous said...

9:34, a pig is still a pig even with lipstick. I wonder how many are in jail in MS for failing/refusing to pay a civil judgment? I bet less than 2. If that was a real thing, we'd have a jail on every corner. Very strange result here.

Anonymous said...

@ 10:42

Guess you've never heard of the Flowood Restitution Center.

https://www.themarshallproject.org/2020/01/09/think-debtors-prisons-are-a-thing-of-the-past-not-in-mississippi



Anonymous said...

10:42, it's not a strange result. he's not in prison for failing to pay. he's in jail for hiding assets the creditor has a legal claim to in defiance of a court order. He'll remain in jail as long as he's defying the court's order. The only reason it's not common is because most people will succumb to a court's order because the court has the power to put you in jail if you don't.

Anonymous said...

What is the formula to $31,450, he was ordered to pay?

Anonymous said...

$31,450 divided by $7.25= $4;385.93 hours but don’t know actual number of hours you are required to work while under Restitution Supervision! Great reporting King Fish! Do the crime then do the time!

Ben Tellinyou said...

I've known the family (parents who are deceased) for many, many years and have continually posted on this blog regarding his slipping out of the hands of justice in his earlier acquittal.

It's unbelievable that he was acquitted and only on testimony from the ring leader that he (McHenry) was aware of the ponzi fraud through which he became a wealthy man. Hogwash! McHenry was complicit and fully knowledgeable throughout his involvement in the scheme.

This is not his first 'brush with the law', including much earlier domestic matters involving another marriage and family matters. The boy needs to serve time. It's a damned shame that he'll wind up paying 32 thousand when he gained hundreds of thousands from the scheme.

Correction said...

Oops

It's unbelievable that he was acquitted and only on testimony from the ring leader that he (McHenry) was aware of the ponzi fraud through which he became a wealthy man.

Should read "Was NOT aware..."

Anonymous said...

Ben tellingyou are you trying to be the loudest person in the room? Earlier family matters? What does that statement have to do with anything? Out of respect for his children and grandchildren, your comments are totally out of line. What In you’re much earlier life would you like to publish? This blog is specifically for low life gossips such as yourself.

Chairman of the Board said...

In defense of Mr. McHenry, l have known him and his business ethic
for over 30 years and am surprised at the falsehoods and untruths
that have been said about this man. He never had any issues until
LA came to him for financial help.

Anonymous said...

Mchenry must’ve bailed out. He’s no longer on the inmate page. Listing for his house emphasized Not to Bother the Occupant. Is he a crazy person too, or just a good salesman?


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