Thursday, December 28, 2023

SEC Bars Brent Alexander from Securities Business

 Former Baker Boy and Lamar Adams crony Brent Alexander is barred from working in the securities industry.  The former Baker Donelson lobbyist pleaded guilty to one count of conspiracy to commit wire fraud for his role in the Lamar Adams Ponzi scheme. 

Alexander was a former employee at prestigious law firm Baker Donelson.  Alexander and Baker partner Jon Seawright sold phony timber securities for Lamar Adams.* Adams is serving a twenty year prison sentence for operating a $160 million Ponzi scheme that sold phony timber investments to unsuspecting investors. 

Alexander was a lobbyist and member of Baker's public policy group. JJ reported on May 4, 2018: 

The two men formed several companies that had several names. The Secretary of State's website states that they operated no less than eight companies.  Several of them just happened to be listed as a "timber fund."  

 Alexander Seawright Petroenergy, Alexander Seawright Oklahoma Oil Services Fund, and Alexander Seawright Timber Fund I  states their address is 4268 I-55N in Jackson - the same address as Baker Donelson when the companies were formed.  Seawright used Baker Donelson stationary to submit the corporate registration to the Secretary of State. The registration for the other companies state their address is the same as the home address of either Alexander or Seawright.

Alexander pleaded guilty to one count of conspiracy to commit wire fraud.  U.S. District Judge Carlton Reeves sentenced him to serve five years of probation.  He must serve two years of the sentence under house arrest.  


Alexander offered to surrender his securities license to the SEC.  The SEC accepted and decreed: 

In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept....

The count of the criminal information to which Respondent pled guilty alleged, inter alia, that Respondent defrauded investors and obtained money and property by means of materially false statements and that he used the United States mails to make such statements. In connection with that plea, Respondent admitted that he knowingly solicited investors to invest in the Timber Fund through materially false and fraudulent pretenses, representations, or promises. Respondent, while being associated with an investment adviser, falsely promised that each property location, promissory note, timber contract, and timber deed would be vetted by him or others. In persuading investors to maintain their investments and to invest additional funds, Respondent told investors that he would profit only if the investments performed as promised, failing to disclose that he received payments for recruiting investments to the scheme and received a predetermined percentage of investors’ funds from the timber broker for each recruited investor. Respondent admitted that he knowingly transmitted or caused to be transmitted by means of wire or radio communications in interstate commerce, any writing, signals or sounds for the purpose of executing the scheme in violation of Title 18, United States Code, Section 1343.

Accordingly, it is hereby ORDERED pursuant to Section 203(f) of the Advisers Act that Respondent be, and hereby is, barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization.

So ends the tale of Brent Alexander.

*JJ reported on November 2: 

The Baker Boyz didn't inspect any properties related to the investments nor did they verify the timber deeds were indeed valid.  In short, all they cared about was cashing checks, investments be damned.  They also misled investors on their compensation for promoting the investments.  An April Justice Department press release spells out what took place: 

Alexander admitted that between 2011 and 2018, he and a co-conspirator participated in a scheme to defraud investors by soliciting millions of dollars under false pretenses and failing to use investor funds as promised. Alexander and his co-conspirator represented to investors that they were in the business of loaning funds to a “timber broker” to buy timber rights from landowners and then to sell the timber rights to lumber mills at a higher price. Alexander and his co-conspirator promised investors a return of 10% or more over twelve or thirteen months on each unit of invested capital. Alexander and his co-conspirator  represented to their investors and led their investors to believe that Alexander and his co-conspirator were inspecting each tract of land and were vetting each document, deed, and contract in support of their investments. These promises and representations were material in that they were intended to cause investors to believe that their investments were secured by valid assets and to believe that the financial incentives and interests of Alexander and his co-conspirator aligned with those of the investors. In fact, Alexander and his co-conspirator failed to inspect each property related to the timber rights underlying each investment, and they failed to verify each executed lumber mill agreement related to each investment. Alexander and his co-conspirator made few or no such inquiries, and if Alexander and his co-conspirator had made such inquiries, they would have discovered that the timber deeds, lumber mill agreements, and related documents had been falsified and were not valid.

Alexander and his co-conspirator also represented to their investors that Alexander and his co-conspirator would only profit from each series of the investment if it performed as promised to the investors. This gave the investors the misleading impression that their interests were fully aligned with those of Alexander and his co-conspirator. In fact, in addition to receiving a predetermined percentage of return on the investors’ funds, Alexander and his co-conspirator also received undisclosed payments of approximately 3% for recruiting investments to the timber investment scheme immediately upon transferring the investment funds to the purported timber broker. Alexander and his co-conspirator did not disclose to the investors: (a) the fact of these payments, or (b) the amount of the payments in relation to the investments made, or (c) the timing of the undisclosed payments to Alexander and his co-conspirator before any repayment was made to the investors.

 Alexander and Seawright have not been associated with Baker Donelson for nearly three years. 


Anonymous said...

“So ends the tale of Brent Alexander.” ???

Is he still allowed to lobby? That’s where most of his income comes from.

Anonymous said...

Brent Alexander is in home confinement.

Anonymous said...

Makes no difference whether he maintains his securities license or not. After this fiasco, no one in their right mind wouold engage his services.

As to lobbying, as asked by 2:55 - anybody can do that, if they get a client willing to pay. No licenses needed, no experience necessary - only requirement is finding a paying client. Then, trying to maintain that client.

Anonymous said...

What happened to Mike Billings?

Anonymous said...

What about Stacey Wall?

Anonymous said...

Stacey Wall sold his Pinnacle Wealth business to Martin Palomo and it's now Argent Wealth.

Anonymous said...

Well, damn, then, how’s an honest crook s’posed to make a livin’?

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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).

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In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

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This is definitely a Beaver production.

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Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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