Case 3:18-cv-00252-CWR-BWR Document 370 Filed 09/28/23 Page 1 of 17

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF MISSISSIPPI
NORTHERN DIVISION

SECURITIES AND EXCHANGE No: 3:18-cv-252-CWR-BWR

COMMISSION,
Carlton W. Reeves, District Judge
Plaintiffs, Bradley W. Rath, Magistrate Judge

v.

ARTHUR LAMAR ADAMS AND

MADISON TIMBER PROPERTIES, LLC,

Defendants.

RECEIVER’S REPORT
September 28, 2023

/s/ Alysson Mills

Alysson Mills, Miss. Bar No. 102861
650 Poydras Street Suite 1525
New Orleans, Louisiana 70130
Telephone: 504-586-5253
Fax: 504-586-5253
[email protected]
Receiver for Arthur Lamar Adams and
Madison Timber Properties, LLC
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Introduction

For many years Arthur Lamar Adams, through his companies Madison Timber Company,
Inc. and Madison Timber Properties, LLC, operated a Ponzi scheme that defrauded hundreds of
investors. On May 9, 2018, Adams pleaded guilty to the federal crime of wire fraud. On October
30, 2018, he was sentenced to 19.5 years in prison.

On June 22, 2018, the Court appointed me receiver of the estates of Adams and Madison
Timber. The order of appointment sets forth my responsibilities and duties. Among other things,
the order instructs me to take any action necessary and appropriate to preserve the assets of Adams
and his businesses, to maximize funds available to victims. I have undertaken these tasks with
substantial assistance from my counsel. We already distributed $17,500,000 to victims, but we
still have a long way to go.

The Court’s order of appointment instructed me to report to the Court every 60 days, but
the Court later authorized me to report quarterly, or approximately every 90 days, instead.

I filed my last report on June 30, 2023, and this report picks up where that report left off.
It contains the following parts:

page
Highlights 3
Criminal cases’ statuses 5
Civil cases’ statuses 5
Next 90 days 12
Summary of status of assets 13

My reports are for the Court’s benefit, but I write them for a broader audience, knowing
that they may be read by non-lawyers including victims. All the filings mentioned in my reports
are available at madisontimberreceiver.com.

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Highlights

The Receivership Estate already sold or otherwise resolved its interests in any property or
real estate belonging to Adams or Madison Timber. I now focus primarily on its lawsuits. I offer
the following highlights here:

Bill McHenry:
I have attempted to execute the Receivership Estate’s $3,473,320 judgment against Bill
McHenry for years. After he perjured himself in a judgment debtor exam, I filed a motion to hold
him in contempt.

On September 25, 2023, Judge Carlton W. Reeves heard the motion, found McHenry in
contempt, and ordered him to report to the Madison County Detention Center. As of this filing,
he is still there.

Brent Alexander and Jon Seawright:

Baker Donelson lobbyist Brent Alexander and lawyer Jon Seawright pleaded guilty to
conspiracy to defraud investors on April 26, 2023, and July 13, 2022, respectively. Transcripts of
their plea hearings are available at madisontimberreceiver.com.

Judge Reeves will sentence Alexander and Seawright on October 31, 2023, in Courtroom
5B, Thad Cochran United States Courthouse, 501 E. Court Street, Jackson, Mississippi, 39201 at
9:00 a.m. and 1:30 p.m., respectively.

Proposed settlements:
I am pleased to announce that certain defendants and I have agreed in principle to proposed
settlements totaling $19,200,000. If the settlements are approved, I could make a distribution
before the end of the year.

Magistrate Judge F. Keith Ball made these proposed settlements possible. He hosted
several days of formal settlement conferences over the summer and participated in countless hours
of informal conferences in between. I thank Judge Ball for his generous assistance and meaningful
input. He has been an exemplary mediator.

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The settling defendants are as follows:

BankPlus defendants $6,500,000

Trustmark defendants $6,500,000

RiverHills defendants $3,500,000

Tammy Vinson and Jeannie $2,200,000

Chisholm (in full and complete
settlement and release of them
and their former employer
Rawlings & MacInnis)

Southern Bancorp $500,000

$19,200,000

Baker Donelson and UPS are not settling defendants. I will continue to litigate, presumably
to trial, the Receivership Estate’s claims against Baker Donelson and UPS.

In addition to making a distribution possible, the proposed settlements will end litigation
with the settling defendants that has frustrated progress in all cases. In anticipation of the
settlements’ approval, Magistrate Judge Bradley W. Rath has already de-consolidated the
Receivership Estate’s cases so that the remaining cases against Baker Donelson and UPS may
proceed separately (and, I anticipate, expeditiously).

Like the settlement with Butler Snow, each proposed settlement requires not only the
Court’s approval but also the entry of a bar order. I expect to file a motion for approval in the
coming days. I will post the motion at madisontimberreceiver.com and send a hard copy to
Madison Timber’s victims.

I expect that Judge Reeves will hold a hearing on the proposed settlements on November
6, 2023, but I will provide final details when available. I encourage interested parties to check
madisontimberreceiver.com for updates.

Interested parties who wish to submit written comments or objections may do so up to five
days prior to the hearing, either to the Court or to me. Interested parties who wish to address any
proposed settlement at the hearing shall be given an opportunity to be speak.

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Criminal cases’ statuses

Related criminal cases’ statuses, in the order of their filings, are as follows:

United States v. Adams, No. 3:18-cr-88

Lamar Adams is serving a 19.5-year sentence in federal prison.

United States v. McHenry, No. 3:19-cr-20

Bill McHenry was acquitted on December 5, 2019.

United States v. Alexander, et al., No. 3:20-cr-31

On May 20, 2021, the U.S. Attorney’s Office announced the criminal indictment of Brent
Alexander and Jon Seawright for their role in the Madison Timber Ponzi scheme. The indictment
charged them with one count of conspiracy to commit securities fraud and wire fraud; one count
of securities fraud; and four counts of wire fraud involving a scheme to defraud investors.

Alexander and Seawright pleaded guilty to conspiracy to defraud investors on April 26,
2023, and July 13, 2022, respectively. Transcripts of their plea hearings are available at
madisontimberreceiver.com.

Judge Reeves will sentence Alexander and Seawright on October 31, 2023, in Courtroom
5B, Thad Cochran United States Courthouse, 501 E. Court Street, Jackson, Mississippi, 39201 at
9:00 a.m. and 1:30 p.m., respectively.

Civil cases’ status

Related civil cases’ statuses, in the order of their filings, are as follows:

Securities & Exchange Commission v. Adams, et al., No. 3:18-cv-252

The S.E.C.’s case against Adams and Madison Timber, filed April 20, 2018, remains open
for the purpose of administering the Receivership Estate’s affairs.

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On December 29, 2022, The UPS Store filed a motion that asked the Court to order me to
turn over to The UPS Store funds that I have held in trust since 2019. The Court denied the motion
on September 28, 2023.1

I expect to file a motion for approval of proposed settlements totaling $19,200,000 in the
coming days. The motion and related filings will be available at madisontimberreceiver.com.

Alysson Mills v. Michael D. Billings, et al., No. 3:18-cv-679

Related: In re William B. McHenry, Jr., No. 20-bk-268; No. 20-ap-22

The complaint against Mike Billings, Wayne Kelly, and Bill McHenry, filed October 1,
2018, alleged they received millions of dollars in “commissions” in exchange for their recruitment
of new investors to Madison Timber.

Wayne Kelly and Mike Billings settled with the Receivership Estate. Among other things,
their settlement agreements required them to restate their income tax returns for the years in
question, with proceeds of any refund to go to the Receivership Estate. Kelly already tendered to
the Receivership Estate $524,679.64 in resulting proceeds. Billings advises that he has attempted
to do the same and is awaiting a response from the IRS.

I obtained a final judgment against Bill McHenry in the amount of $3,473,320.2 McHenry
has not paid the judgment. I continue to attempt to execute on the Receivership Estate’s judgment.
An auction of items that I seized from McHenry resulted in total proceeds of $16,728.55 only. To
frustrate my further efforts, McHenry has filed for bankruptcy twice. He filed his first bankruptcy
petition to avoid a judgment debtor exam; after months of litigation, the bankruptcy court refused
to discharge his debts to the Receivership Estate,3 and he was subjected to a judgment debtor exam
in open court.

After he perjured himself during the judgment debtor exam and, I filed a motion to hold
him in contempt. He filed his second bankruptcy petition to avoid a hearing on that motion. After

1
Doc. 369, Securities and Exchange Commission v. Adams, et al., No. 3:18-cv-252 (S.D. Miss).
2
Docs. 62, 63, Alysson Mills v. Michael D. Billings, et al., No. 3:18-cv-679 (S.D. Miss.).
3
Doc. 54, In re: William Byrd McHenry, Jr., No. 20-ap-22 (Bankr. S.D. Miss.).
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months of litigation, those second bankruptcy proceedings concluded, with the bankruptcy court
observing that its prior refusal to discharge McHenry’s debts to the Receivership Estate operates
as res judicata: “debts existing at the commencement of a bankruptcy case in which the debtor is
denied a discharge can never be discharged in a subsequent bankruptcy case.”4

On September 25, 2023, Judge Carlton W. Reeves heard my motion to hold McHenry in
contempt, found McHenry in contempt, and ordered him to report to the Madison County
Detention Center.

As of this filing, McHenry is still there.

Alysson Mills v. Butler Snow, et al., No. 3:18-cv-866

Related: In re Jon Darrell Seawright, No. 19-bk-3921; No. 20-ap-11; No. 20-cv-232

The complaint against Butler Snow LLP; Butler Snow Advisory Services, LLC; Matt
Thornton; Baker, Donelson, Bearman, Caldwell & Berkowitz, PC; Alexander Seawright, LLC;
Brent Alexander; and Jon Seawright, originally filed December 19, 2018, alleges the law firms
and their agents lent their influence, their professional expertise, and even their clients to Adams
and Madison Timber. On November 22, 2019, I filed an amended complaint.

Butler Snow already settled with the Receivership Estate for $9,500,000.

Baker Donelson: The Court denied the defendants’ motions to dismiss the amended
complaint on May 5, 2021.5 Baker Donelson asked the Court to reconsider and on February 8,
2022, the Court granted Baker Donelson’s motion in part but did not dismiss any of the
Receivership Estate’s claims.6 Related filings are available at madisontimberreceiver.com.

For discovery purposes, the Court consolidated the Receivership Estate’s case against
Baker Donelson with the Receivership Estate’s cases against BankPlus, UPS, and Trustmark. In
prior reports I complained that the consolidated litigation was costly in time and resources. On

4
Doc. 61, In re: William Byrd McHenry, Jr., No. 22-bk-1755 (Bankr. S.D. Miss.) (“The general rule is that once a
debt is declared nondischargeable, it is always nondischargeable. Certain debts [] are excepted from the general
rule. None of these exceptions apply.”).
5
Doc. 70, Alysson Mills v. Butler Snow, et al., No. 3:18-cv-866 (S.D. Miss.).
6
Doc. 112, Alysson Mills v. Butler Snow, et al., No. 3:18-cv-866 (S.D. Miss.).
7
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September 27, 2023, in anticipation of settlements with BankPlus and Trustmark, the Court de-
consolidated the cases such that the Receivership Estate’s case against Baker Donelson may
proceed separately.

Alexander and Seawright: The Receivership Estate’s claims against Alexander and
Seawright are stayed pending the resolution of their related criminal proceedings.

Seawright: Seawright filed a Chapter 7 petition for bankruptcy on November 3, 2019. On

February 7, 2020, I filed an adversary complaint that objects to the discharge of Seawright’s debt
to the Receivership Estate on the basis that the debt flows from his false pretenses, false
representations, and fraud. The Court denied Seawright’s motion to dismiss the adversary
complaint on March 1, 2021,7 but on July 6, 2021, it stayed further proceedings pending the
resolution of Alexander and Seawright’s criminal proceedings.

Alysson Mills v. BankPlus, et al., No. 3:19-cv-196

The complaint against BankPlus; BankPlus Wealth Management, LLC; Gee Gee Patridge,
Vice President and Chief Operations Officer of BankPlus; Stewart Patridge; Jason Cowgill; Martin
Murphree; Mutual of Omaha Insurance Company; and Mutual of Omaha Investor Services, Inc.,
filed March 20, 2019, alleges the financial institutions and their agents lent their influence, their
professional services, and even their customers to Madison Timber, establishing for it a de facto
DeSoto County headquarters within BankPlus’s Southaven, Mississippi branch office. On January
4, 2021, I filed an amended complaint that names BankPlus’s insurers as defendants.

Martin Murphree already settled with the Receivership Estate.

As for the remaining defendants:

Stewart Patridge, former agent of BankPlus and Mutual of Omaha, answered the amended
complaint. All other defendants moved to dismiss. On July 8, 2021, the Court granted Mutual of

7
Doc. 18, In re Jon Darrell Seawright, No. 20-cv-232 (S.D. Miss.).
8
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Omaha’s motion but denied every other defendants’, including BankPlus’s, motion.8 Related
filings are available at madisontimberreceiver.com.

For discovery purposes, the Court consolidated the Receivership Estate’s case against
BankPlus with the Receivership Estate’s cases against Baker Donelson, UPS, and Trustmark. In
prior reports I complained that the consolidated litigation was costly in time and resources. On
September 27, 2023, in anticipation of settlements with BankPlus and Trustmark, the Court de-
consolidated the cases.

I expect to file a motion for approval of a proposed settlement with BankPlus in the coming
days. The motion and related filings will be available at madisontimberreceiver.com.

Alysson Mills v. The UPS Store, Inc., et al., No. 3:19-cv-364

The complaint against The UPS Store, Inc.; Herring Ventures, LLC d/b/a The UPS Store;
Austin Elsen; Tammie Elsen; Courtney Herring; Diane Lofton; Chandler Westover; Rawlings &
MacInnis, PA; Tammy Vinson; and Jeannie Chisholm, filed May 23, 2019 and amended June 13,
2019, alleges the defendants are the notaries and their employers on whom Lamar Adams
principally relied to notarize fake timber deeds.

None of the defendants has settled with the Receivership Estate.

The defendants moved to dismiss the complaint not once but twice, and on both occasions
the Court denied their motions, most recently on March 1, 2021. The Court denied the defendants’
motion to certify the Court’s order for interlocutory appeal on November 10, 2021.9 Related filings
are available at madisontimberreceiver.com.

For discovery purposes, the Court consolidated the Receivership Estate’s case against UPS
with the Receivership Estate’s cases against Baker Donelson, BankPlus, and Trustmark. In prior
reports I complained that the consolidated litigation was costly in time and resources. On
September 27, 2023, in anticipation of settlements with BankPlus and Trustmark, the Court de-

8
Doc. 123, Alysson Mills v. BankPlus, et al., No. 3:19-cv-196 (S.D. Miss.).
9
Doc. 310, Alysson Mills v. The UPS Store, Inc., et al., No. 3:19-cv-364 (S.D. Miss.).
9
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consolidated the cases such that the Receivership Estate’s case against UPS may proceed
separately.

Securities & Exchange Commission v. Kelly, et al., No. 3:19-cv-585

On August 27, 2019, the S.E.C. obtained a judgment against Wayne Kelly permanently
enjoining him from further violations of federal securities laws; disgorging his ill-gotten gains, in
an amount to be determined; and ordering that he pay civil penalties, in an amount to be
determined.10

Alysson Mills v. Trustmark, et al., No. 3:19-cv-941

On December 30, 2019, I filed a complaint against Trustmark National Bank, Bennie Butts,
Jud Watkins, Southern Bancorp Bank, and RiverHills Bank—financial institutions and
professionals who provided banking services that enabled and sustained the Madison Timber Ponzi
scheme.

None of the defendants has settled with the Receivership Estate.

The Court denied the defendants’ motions to dismiss on March 1, 2021.11 The Court denied
the defendants’ motion to certify the Court’s order for interlocutory appeal on May 20, 2021.12
Related filings are available at madisontimberreceiver.com.

For discovery purposes, the Court consolidated the Receivership Estate’s case against
Trustmark with the Receivership Estate’s cases against Baker Donelson, BankPlus, and UPS. In
prior reports I complained that the consolidated litigation was costly in time and resources. On
September 27, 2023, in anticipation of settlements with BankPlus and Trustmark, the Court de-
consolidated the cases.

10
Docs. 5, 6, Securities and Exchange Commission v. Terry Wayne Kelly and Kelly Management, LLC, No. 3:19-cv-
585 (S.D. Miss.).
11
Doc. 67, Alysson Mills vs. Trustmark, et al., No. 3:19-cv-00941 (S.D. Miss.).
12
Doc. 94, Alysson Mills vs. Trustmark, et al., No. 3:19-cv-00941 (S.D. Miss.).
10
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I expect to file a motion for approval of proposed settlements with Trustmark, RiverHills
Bank, and Southern Bancorp Bank in the coming days. The motion and related filings will be
available at madisontimberreceiver.com.

Securities & Exchange Commission v. Billings, et al., No. 3:20-cv-50

On March 3, 2020, the S.E.C. obtained a judgment against Mike Billings permanently
enjoining him from further violations of federal securities laws; disgorging his ill-gotten gains, in
an amount to be determined; and ordering that he pay civil penalties, in an amount to be
determined.13

Alysson Mills v. Stuart Anderson, et al., No. 3:20-cv-427

On June 25, 2020, I filed a complaint against Stuart Anderson, Randy Shell, and Shell
Investments, LLC. The complaint alleges the defendants identified new investors for Madison
Timber, and for each investment made by an investor he personally recruited, each defendant
received a cut of the investor’s payment to Madison Timber. Over time, the defendants received
more than $635,000 in Madison Timber “commissions.” The defendants have all settled with the
Receivership Estate.

Securities & Exchange Commission v. McHenry, et al., No. 3:21-cv-554

On August 26, 2021, the S.E.C. announced charges against Bill McHenry for unlawfully
selling unregistered securities. The complaint, which is available at madisontimberreceiver.com,
seeks a judgment declaring that McHenry violated federal securities laws, permanently enjoining
him from further violating federal securities laws, and ordering him to pay civil penalties.

13
Doc. 1, Securities and Exchange Commission v. Michael Douglas Billings and MDB Group, LLC, No. 3:20-cv-50
(S.D. Miss.).
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On August 17, 2022, the S.E.C. obtained final judgment against McHenry permanently
enjoining him from further violations of federal securities laws.14

Alysson Mills v. Gary Property Management, LLC., No. 3:22-cv-296

On June 2, 2022, I filed a complaint against Gary Property Management, LLC, for a
declaratory judgment that it is not entitled to proceeds from the Receivership Estate’s sale of
property formerly owned by Oxford Springs, LLC. Gary Property Management filed an answer to
the complaint on July 18, 2022. Those filings are available at madisontimberreceiver.com.

The parties concluded discovery and both sides filed motions for partial summary
judgment. On August 3, 2023, the Court granted my motion for partial summary judgment,
holding Gary Property Management is not entitled to proceeds from the Receivership Estate’s sale
of property formerly owned by Oxford Springs, LLC. Related filings are available at
madisontimberreceiver.com.

Next 90 days

Over the next 90 days, I will move the Court to approve proposed settlements totaling
$19,200,000 and, hopefully, a second distribution to Madison Timber’s victims.

I will continue to push the Receivership Estate’s remaining lawsuits against Baker
Donelson and UPS. We will respond to motions, file motions as circumstances require, and
conduct discovery. I will continue to identify issues that the parties need not await trial to resolve,
and I will ask the Court to decide those issues now.

I will continue to object to invasive discovery into victims’ personal lives and finances.

I will continue to monitor settling defendants’ compliance with their settlement agreements
and attempt to execute on the judgment against Bill McHenry.

14
Doc. 20, Securities and Exchange Commission v. William B. McHenry Jr. and First South Investments, LLC, No.
3:21-cv-554 (S.D. Miss.).
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I will continue to confer with federal and state authorities as circumstances require.

I will continue to communicate with Madison Timber’s victims. They may continue to call,
email, or write me anytime.

Summary of status of assets

My goal is to pay amounts still due to Madison Timber’s victims under the 485 promissory
notes that they hold. The $17,500,000 first distribution was a meaningful first step but we still
have a long way to go.

The current status of the Receivership Estate’s assets is as follows:

Receivership Estate’s account at Hancock Bank

Previous account balance as of June 30, 2023 $1,911,985.79
Interest +$16,917.02
Mississippi Department of Revenue (corporate tax) -$27.00
$1,928,875.81

Alysson Mills v. Butler Snow, et al., No. 3:18-cv-866 litigation ongoing

Lawsuit to hold law firms liable for debts of the
Receivership Estate

Settlement—Butler Snow received $9,500,000

Alysson Mills v. BankPlus, et al., No. 3:19-cv-196 litigation ongoing

Lawsuit to hold bank and financial services company liable
for debts of the Receivership Estate

Settlement—Martin Murphree received $14,400 already

received $98,081.25 in satisfaction

of promissory note

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Alysson Mills v. The UPS Store, et al., No. 3:19-cv-364 litigation ongoing
Lawsuit to hold notaries liable for debts of the Receivership
Estate

Alysson Mills v. Trustmark, et al., No. 3:19-cv-941 litigation ongoing

Lawsuit to hold banks liable for debts of the Receivership
Estate

Alysson Mills v. Stuart Anderson, et al., No. 3:20-cv-427

Lawsuit to recover commissions from recruiters

Settlement—Stuart Anderson promissory note in the original

principal amount of $130,520
outstanding

Settlement—Randy Shell promissory note in the original

principal amount of $505,114
outstanding

Alysson Mills v. Michael Billings, et al., No. 3:18-cv-679

Lawsuit to recover commissions from recruiters

Judgment—Bill McHenry $3,473,320 judgment outstanding

received $16,728.55 in proceeds

from seized assets

Settlement—Mike Billings received $325,000

plus 5% interest in Oxford Springs,
LLC

received $187,500 in satisfaction

of promissory note

duty to restate taxes,

with 90% of any refunds to
Receivership Estate

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Settlement—Wayne Kelly received $1,384,435.17

plus interests in 707, 315 Iona,
and KAPA Breeze, LLCs

received $100,000 in satisfaction of

promissory note

received $304,971.86 in proceeds

from federal tax refund

received additional $32,105.02 in

proceeds from federal tax refund

received additional $84,339.41 in

proceeds from federal tax refund

received additional $103,263.35 in

proceeds from federal tax refund
Settlement—Brad Pugh promissory note in the original
principal amount of $183,002.66
outstanding

Settlement—Pinnacle Trust received $500,000

1/4 interest in Mash Farms, LLC received $258,500 in proceeds

808+ acres with hunting camp in Sunflower County from sale of the Receivership Estate’s
Purchased in 2014 for $1,600,000 interest
Encumbered by Trustmark Bank mortgage
Owe approximately $900,000

100% interest in Oxford Springs, LLC received $4,668,530.48 in proceeds

Undeveloped land in Lafayette County from sale of 2,278 acres
Sold 2,278 acres; 100 acres remain
Unencumbered received $539,193.90 in proceeds
from sale of 100 acres

received $17,5000 in proceeds

from 2020 lease

1/6 interest in 707, LLC LLC sold principal asset and dissolved;
263+ acres recreational land in Holmes County tendered $6,994.09 representing
Purchased in 2009 Adams’s, Kelly’s, and McHenry’s
Encumbered by First Commercial Bank mortgage interests to the Receivership Estate
Owe approximately $368,000

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1/3 interest in Delta Farm Land Investments, LLC LLC sold principal asset and dissolved;
1170+ acres farmland in Oktibbeha County tendered $323,440.88 representing
Purchased in 2014 for $2,796,100 Adams’s interest to the Receivership
Encumbered by Trustmark Bank mortgage Estate
Owe approximately $2,200,000

1/2 interest in KAPA Breeze LLC sold the Receivership Estate’s

1.5+/- acres mixed-use land on Highway 30A in Florida interest for $700,000
Purchased in 2017 for approximately $1,900,000
Encumbered by Jefferson Bank mortgage
Owe approximately $1,365,000

1/4 interest in Mallard Park, LLC sold the Receivership Estate’s

1,723 acres with hunting lodge in Humphreys County interest for $175,000
Purchased in 2016 for $2,593,500
Encumbered by Southern AgCredit mortgage
Owe approximately $2,000,000

Hartford Life and Annuity Insurance Co. policy surrendered for $167,206.60

Lincoln National Life Insurance Co. policy surrendered for $3,678.45

Settlement—Frank Zito received $100,000,

first installment

received $100,000,
second and final installment,
June 12, 2019

Settlement—Ole Miss Athletics Foundation received $155,084.50,

first installment

received $155,084.50,
second and final installment,
April 17, 2019

Marital Property Settlement—Vickie Lynn Adams received $58,247

Lump sum payment includes proceeds from sale of Lexus
LX 570 and liquidation of Hartford Life and Annuity
Insurance Co. life insurance policy

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Settlement—Adams children received $170,000

Alexander Seawright—UPS’s funds* holding $100,000

2018 King Ranch Ford F150 truck sold for $42,750

Condo in Calton Hill subdivision in Oxford, Mississippi received $139,919.09

Unencumbered in proceeds from sale

Settlement—Philippi Freedom Ministries received $16,125

Settlement—Rick Hughes Evangelistic Ministries received $43,657.95

Jewelry for sale

House at 134 Saint Andrews Drive, Jackson, Mississippi received $350,777.38

Unencumbered in proceeds from sale

received $3,277.45
from sale of household goods
on consignment

Settlement—Century Club Charities received $56,944

Settlement—Berachah Church received $175,904

Settlement—R.B. Thieme, Jr. received $104,626.50

Settlement—Operation Grace World Missions received $39,325

Returned proceeds—Techwood, LLC received $309,000

Strikethrough indicates asset has been liquidated or proceeds are already accounted for in the
Hancock Bank account balance.

*I am holding these funds solely as an offset to the defendant’s liability for the Receivership
Estate’s claims.

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