Attorney Says Jack Brown Anxious To Talk About Case In Which Investors Lost Millions Of Dollars

Tuesday, February 19, 2013

Attorney Tom Ray said former Soddy Daisy tax advisor Jack E. Brown is "anxious to talk about" the case in which dozens of "investors" say they have losses totaling in the $12 million range.

But the interview did not happen as scheduled on Tuesday.

Attorney Ray said Brown, 58, was willing to answer questions at a residence where he is staying with relatives.

However, U.S. Trustee Bill Sonnenberg and the trustee assigned to the case, Jerry Farinash, said that was not acceptable.

They wanted it done at the Bankruptcy Court where they were waiting at 9 a.m.

Instead of Mr. Brown appearing, attorney Ray read a letter from his doctor saying that, due to his medical condition, he could not be brought by ambulance to the building on 11th Street.

Trustee Farinash said the case is "too contentious" and feelings are still running too hot to have had the meeting of creditors at a house without metal detectors and proper security. He noted that creditors would have the right to quiz Mr. Brown at the meeting. 

Mr. Brown, who had a tax service in Soddy Daisy, recently was released from Memorial Hospital. However, attorney Ray said he still has serious medical problems and has to be on dialysis three times a week.

But he said Mr. Brown is willing to give a full statement without invoking the Fifth Amendment.

"He is very sorry that all this happened," attorney Ray said.

Attorney Ray said the only thing keeping the case from being settled is "peanuts." He said the Browns are only asking that they be allowed to keep a few personal items that are special to them.

He said as long as the case drags on, attorney fees and court costs will continue to build up.

Trustee Farinash said there is no agreement regarding those items, and he said there is an issue of whether any assets are being concealed. He said the matter is complicated because there is also a bankruptcy case involving Brown's wife, Janet.

A new date for the creditors meeting is March 26.  

  


Top City Of Chattanooga Salaries

Here are the top salaries for the city of Chattanooga: Bean, Russell J       City Judge        $170,537.41 Paty, Sherry B City Judge        $170,537.41 Berke, Andrew L.        Mayor  $161,030 Fletcher, Frederick Allen Police Chief     ... (click for more)

House Fire In Brainerd Under Investigation

Chattanooga fire investigators are trying to figure out what started a fire in a large, two-story home in Brainerd.   The Chattanooga Fire Department received the alarm at  3:11 p.m.  and responded to 125 Shawnee Trail with four fire companies. The first firefighters to arrive from Station 13 saw smoke and flames coming from the roof. The firefighters used ... (click for more)

A Disturbing Trend At Exit 11 - And Response (5)

So, am I the first to notice a trend?   How many wrecks does exit 11 need before anyone asks "whats up with that?"  I have lost count of the wrecks that continue to happen, even after last year's awful loss of life (which I believe 51 percent of the blame should fall on the THP officer on duty).  The problem with this section of interstate are sight lines ... (click for more)

Roy Exum: A Story You Won’t See

In a puzzling time when the big daily newspapers have veered strongly away from “all the news that is fit to print,” allow me to share a story that you very likely will not see on CNN, ABC News, or in the big media conglomerates that influence the way you think, the way you react and – as a result – easily warp our common senses. This story is very true. Late last Sunday afternoon, ... (click for more)

Travis Hale New Softball Coach At Soddy-Daisy

Travis Hale, who spent one year under being groomed for the job, has been named the new softball coach at Soddy-Daisy High School. Hale, who previously was an assistant coach at Hixson and head coach at Loftis Middle School, was groomed for the job last season working under coach Wes Skiles, who has stepped down after four seasons. “I focused on paying attention to what ... (click for more)

Alex Smith Earns All-America Honors In AAU Volleyball

Alex Smith just graduated from Grace Academy in the spring after wrapping up an outstanding career with the Lady Golden Eagle volleyball team. The season didn’t go quite as well as they would have liked as Smith suffered an ankle injury and was sidelined toward the end at tournament time. However, all the news is not bad as Smith joined 10 other players who formed a team ... (click for more)