Baker Donelson, Butler Snow Sued Over Alleged Role in Lamar Adams Ponzi Scheme
The two law firms and some of their attorneys are alleged to have helped push investors to Lamar Adams' company. But the firms adamantly deny the allegations.
December 27, 2018 at 03:01 PM
6 minute read
The original version of this story was published on The American Lawyer
The court-appointed receiver for the estates of confessed Ponzi schemer Arthur Lamar Adams and his disgraced company, Madison Timber Properties, has sued Am Law 100 firm Baker, Donelson, Bearman, Caldwell & Berkowitz along with law firm Butler Snow and several other entities and people who allegedly abetted or turned a blind eye to Adams' $100 million scheme.
Although Adams pleaded guilty to wire fraud and was sentenced to 19.5 years in prison in October—a sentence he will begin serving in January 2019—receiver Alysson Mills argues responsibility for the corrupt scheme, which dealt a blow to investors around the country, extends far beyond one individual.
Filed in the United States District Court for the Southern District of Mississippi's Northern Division on Dec. 19, the complaint also names as defendants Brent Alexander, a Baker Donelson senior public policy adviser and lobbyist in the firm's Jackson, Mississippi office; Jon Seawright, a lawyer and shareholder in the Jackson office; their investment vehicle, Alexander Seawright LLC; Butler Snow Advisory Services LLC; and Matt Thornton, Butler Snow's founder, president and CEO, who allegedly steered investors to Madison Timber.
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