Wife of businessman sentenced in $100 million Ponzi scheme divorcing husband, reaches settlement
The spouse of the Madison County businessman sentenced to almost two decades in jail within the state’s biggest Ponzi scheme is divorcing her spouse and has now consented to offer home owned by the few to simply help repay her spouse’s investors.
Arthur “Lamar” Adams ended up being sentenced to nearly two decades in jail for the $100 million Ponzi scheme, the greatest into the state’s history. (Photo: Jeff Amy, AP)
Vickie Lynn Adams happens to be hitched to Arthur “Lamar” Adams since August 3, 1978, and it is the owner that is one-half of owned because of the few.
In U.S. District Judge Carlton Reeves sentenced Lamar Adams to 19? years in prison october.
Adams admitted in court that their company had been a Ponzi scheme. Adams duped as much as 300 investors, including U.S. Sen. Roger Wicker, within the $100 million scam.
A week ago, Reeves authorized money reached by Mrs. Adams together with receivership appointed by the court to try and recover a number of the cash lost by investors. He additionally lifted a stay of action on Mrs. Adams’ divorce or separation, meaning she can now continue with it.
Vicki Lynn Adams could not be reached for remark Monday.
Nonetheless, Mrs. Adams stated she had no knowledge her spouse’s company had been a Ponzi scheme before the FBI came across along with her husband just last year prior to him being formally charged.
The federal government settlement contract with Mrs Adams claims:
- The receiver shall retain all home of any description or type acquired by Mr. and Mrs. Adams through the date of these wedding through the date the contract is performed, save assets individually obtained by Mr. Adams or Mrs. Adams off their sources.
- The Adams home in northeast Jackson shall be offered, aided by the first $200,000 of net profits allocated 50 % into the receiver and 50 per cent to Mrs. (more…)