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.  

  



County Issuing Up To $235 Million In Bonds - Mainly For School Projects

Hamilton County plans to issue up to $235 million in general obligation bonds with the funds mainly to go to county school projects. The County Commission earlier approved a property tax increase to support the bond issue. Finance Director Al Kiser said there will be a 20-day waiting period in which taxpayers can protest the issuance. He said the county will prepare an ... (click for more)

Grand Jury No Bills And True Bills

Here are the No Bills and True Bills from the Hamilton County Grand Jury for Aug. 20. No Bills: BROOKS, EMILY LEANNE W 26 F 0 1 GS 1675804 POSSESSION OF FIREARM WITH INTENT TO GO ARMED COFFMAN, CRYSTAL GAIL W 45 F 0 1 SD 59104 THEFT OF PROPERTY COFFMAN, CRYSTAL GAIL W 45 F 0 2 SD 59105 THEFT OF PROPERTY DAVIS, DEJUAN DEWAYNE B 25 M 0 1 GS 1682670 POSSESSION OF CONTROLLED ... (click for more)

Vince Dean Saved The Day

Permit me to publicly express appreciation to Vince Dean. His calm, comprehensive and diplomatic arguments to the Chattanooga City Council against the administration’s ill-advised plan to segregate retirees and herd them unwillingly into a separate insurance plan unquestionably saved the day. The proposed new plan, if implemented, was certain to cause months of chaos and confusion ... (click for more)

Roy Exum: Let’s Focus On ‘Better’

As I stepped away from the overflow crowd at  Monday  night’s Town Council meeting on Signal Mountain, I leaned in to tell Jean Trohanis how sorry I was to hear of the loss of her dearest friend. But in that millisecond before I could speak, the former but still-loved elementary school principal gave me her best hallway hiss and, with a pointed finger, she ordered, “You ... (click for more)

Hayes Surpasses 1,000 Points As Lady Canes Beat Walker Valley 54-43

East Hamilton sophomore Madison Hayes scored 17 points in a 54-43 victory at Walker County in Cleveland on Tuesday night and pushed her career scoring past the 1,000-point mark in the process. Hayes scored a team-high 19 points Friday in a 52-40 victory over Notre Dame in the East-West Classic, giving her 996 points in her career, including eighth-grade and freshman seasons ... (click for more)

McMinn County Slaps Soddy-Daisy With Two 5-3A Losses

McMinn County roared into Soddy-Daisy on Tuesday night and blasted the Trojans and Lady Trojans lop-sided victories in District 5-3A high school basketball action. The Cherokees (3-5, 3-0) blitzed the Trojans (3-5, 1-2) early to build a 26-14 halftime lead, built a 20-point lead and cruised to an impressive 58-30 victory. The earlier game was even more one-sided as the ... (click for more)