Bloomberg Law
Dec. 19, 2018, 10:37 PMUpdated: Dec. 20, 2018, 3:29 AM

Law Firms Accused of Aiding Timber Ponzi Scheme (1)

Porter Wells
Porter Wells

Premier Mississippi law firm Butler Snow LLP and Tennessee-based Baker, Donelson, Bearman, Caldwell & Berkowitz P.C. are accused in a new lawsuit of assisting a $164.5 million timber-stock Ponzi scheme.

The head of the Madison Timber Properties LLC scheme, Arthur Adams, pleaded guilty to wire fraud and was sentenced in October to 235 months in prison, according to the complaint filed Dec. 19 in the U.S. District Court for the Southern District of Mississippi.

Alysson Mills, a court-appointed receiver, filed the suit. She has the authority to bring actions against “third parties whose actions contributed to the success of the ...

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