Madison Timber Receiver Alysson Mills submitted her required 90 day status report to U.S. District Judge Carlton Reeves on March 31. The report documents her slog to recover funds for the victims of Lamar Adams. The report announces trials are scheduled for April 2026 in the clawback lawsuits against UPS and Baker Donelson.
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. Adams is incarcerated in federal prison after he pleaded guilty to one count of wire fraud. Receiver Alysson Mills represents the SEC in recovering assets for later distribution to the victims. Her efforts include suing promoters who received commissions as well as the Butler Snow and Baker Donelson law firms. Butler Snow settled for $9.5 million. Mills and Baker Donelson are still slugging it out in federal court. However, Ms. Mills went after several banks as well. The Receiver sued Trustmark, Bankplus, River Hills Bank, and their employees in federal court, alleging they made it easier for Lamar Adams to carry out his Ponzi scheme as their customer even though Trustmark and Bankplus submitted suspicious activity reports about Adams to the federal government. The Court approved the settlements in October. JJ estimates the amount Mills collected from various defendants such as those mentioned above to be approximately $42 million.
The new status report states there are only two major outstanding lawsuits. The defendants are Baker Donelson (including Jon Seawright and Brent Alexander) and the UPS Store Madison. Seawright and Alexander have paid back the required $977,044 in restitution. Both corporate defendants filed motions to subpoena all 218 victims in the Madison Timber fraud. Mills opposed the motions, arguing there is no precedent for such discovery. The Court overruled her and allowed Baker Donelson to depose groups of investors. Over 100 investors/victims have been deposed.
The trial for the Baker Donelson case is scheduled for April 6, 2026 while the UPS trial is scheduled for April 20, 2026.
The report states the Receivership's account at Hancock Bank has $1.6 million.
17 comments:
Two remarks:
The low hanging fruit has been picked.
Early investors profited ill gotten gains funded by late investors, yet for some reason, no effort to claw-back these fake profits to the benefit of late investors has been undertaken. Why not?
@10:14 is asking the questions this blogger should be pounding the pavement and asking instead of sitting at home navel gazing and playing with himself while reposting stuff from PACER.
The truth is the early folks are likely well connected members of the MSGOP and their benefactors. The late folks are the opposite.
It’s been a long time, so help me out: what did the Madison UPS store do?
"Early investors profited ill gotten gains funded by late investors, yet for some reason, no effort to claw-back these fake profits to the benefit of late investors has been undertaken. Why not?"
That issue has been thoroughly covered in the comments to a prior Madison Timber post. It think it was the last one.
I am also too lazy to look, but I think the Madison UPS storefront was affiliated due to the UPS employee/notary falsely validating docs/signatures for this scam while employed for UPS.
11:47 -
Ah. That rings a bell. Thanks.
Sharpen those claws and go after the well connected early investors.
@12:12 That would be a career ending move. Best thing to do is play it safe, wrap this up, and get a 7 figure job at a big accounting/tax law firm.
If you go after the big dogs you might as well just become a low payed, non-profit civil rights lawyer or some other “rights” activist.
Here's the prior post with the comments on clawbacks:
https://kingfish1935.blogspot.com/2024/12/madison-timber-update.html
11:15 Madison UPS notarized falsified documents pertaining to the buy/sell of the fake timber deeds.
There's an old saying or two that explain why this won't ever happen.
@1:58 you mean “he has the gold (in their name) rules?”
adams snookered the notaries too. he'd have his signature properly notarized and then go back and alter the document to include other names. its why they're fighting so hard. no way to prevent something like that
11:08: Thanks for telling me how to do my job. For starters, no other media outlet is even covering this story any longer nor providing status updates. Period. This website is it . Do you go to the other media websites or Facebook pages and complain they are not covering this story any longer? Of course not. Easier just to throw rocks at me.
As for answering those questions, do you have any advice? I have taken every tip given to me by victims and run with it. The information y'all want to see is sealed. Can't get to it unless someone leaks it to me and no one is leaking.
I'm also not going to publish the names of the victims unless there is a good reason to do so. Those demanding their names merely want to shame and ridicule them as they make themselves feel morally superior.
The Judge is Judge Reeves, hardly a friend to Republicans.
Amazing how Lamar’s number 1 guy who helped him raise, or scam, all this money never got in any trouble cause he hired Alyson Mills law partner. All kinda inside shady deals in this whole thing.
@KF 11:08 Here. I’m glad to give you an opportunity to get that off your chest. Point taken, and you’re welcome.
Meanwhile: McHenry is working the Clarion Crossword Puzzle, eating Krystals out of a sack and swigging last night's Ripple. Poor Soul!
That Mills gals' claws can't reach him.
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