Baker Donelson Loses Bid to Toss Timber Ponzi Receiver’s Suit

May 5, 2021, 5:08 PM

Law firm Baker Donelson must face a court-appointed receiver’s accusations that it facilitated an $85 million timber-harvesting Ponzi scheme after a federal judge in Mississippi ruled Wednesday the allegations are sufficient to move to the next stage.

Baker, Donelson, Bearman, Caldwell & Berkowitz PC argued it wasn’t responsible for the allegedly improper actions of employees and didn’t aid and abet the scheme, but none of the firm’s arguments are enough to bring the case to an early halt, the U.S. District Court for the Southern District of Mississippi said.

The Securities and Exchange Commission accused Arthur Lamar Adams in ...

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