Jackson’s Arthur Lamar Adams Allegedly Orchestrated a Multi-million dollar Ponzi scheme Affecting Hundreds of Victims in Many States
Arthur Lamar Adams, 58, and of Jackson, Mississippi, allegedly orchestrated a huge multi-million dollar Ponzi scheme, according to Documents from the U.S. Attorney’s Office, Southern District of Mississippi, under review by attorney Alan Rosca. Said scheme allegedly adversely affected hundreds of victims across multiple states over a number of years, said Documents note.
Attorney Alan Rosca, of the RoscaLaw LLC firm, is investigating activity related to Arthur Lamar Adams’ alleged Ponzi scheme. Investors who believe they may have lost money in activity related to Arthur Lamar Adams’ alleged Ponzi scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Said scheme was allegedly operated in connection with a Ponzi scheme using Madison Timber Properties, LLC, a company wholly owned by Adams, the Documents note.
Adams has also been subsequently charged with two counts of alleged wire fraud involving said scheme to defraud investors, and one count of bank fraud, the Documents state.
Adams Allegedly Solicited Money under False Pretenses, Failed to Use Investors’ Funds as Promised, & Allegedly Used Funds for His Own Benefit
Arthur Adams, specifically, starting as early as 2011 and continuing through April 2018, allegedly designed a scheme to defraud investors by soliciting millions of dollars of funds under false pretenses, failing to use the investors’ funds as promised, and converting investors’ funds to Adams’s own benefit without the knowledge of the investors, according to said Documents under review by attorney Alan Rosca
Adams, rather than investing his clients’ money, allegedly used the invested funds for his own personal benefit and for purposes other than those represented to investors, the Documents note, which also allegedly included making payments due and owing to other investors, thus perpetuating the Ponzi scheme.
Adams, thought the course of the alleged fraudulent scheme, allegedly fraudulently obtained well in excess of one hundred million dollars from more than 250 investors located in at least 14 different states, the Documents state.
Securities Lawyer Investigating
The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Arthur Lamar Adams’ alleged Ponzi scheme and would like to talk to investors. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Arthur Lamar Adams’ alleged Ponzi scheme and would like to talk to investors may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
