Former Jackson lawyer Jon D. Seawright, 51, and former Jackson lobbyist Ted Brent Alexander, 58, have been sentenced for their roles in a $977,044.53 timber deed investment scheme to defraud investors.
On October 31, 2023, Seawright was sentenced to serve twelve months and one day in prison, followed by two years of supervised release.
Alexander, on the other hand, received five years of probation, which includes two years of home confinement with electronic monitoring.
The two men were ordered to pay restitution joint and severally in the amount of $977,044.53.
Seawright and Alexander entered guilty pleas to conspiracy to commit wire fraud on separate dates.
The scheme involved soliciting millions of dollars from investors under false pretenses and failing to use investor funds as promised.
Alexander and Seawright convinced investors that they were in the business of loaning funds to a ‘timber broker’ to buy timber rights from landowners and then to sell the timber rights to lumber mills at a higher price.
However, the two men failed to inspect each property related to the timber rights underlying each investment and failed to verify each executed lumber mill agreement related to each investment.
The U.S. Attorney Todd W. Gee and Special Agent in Charge Jermicha Fomby of the Federal Bureau of Investigation made the announcement.
The case was investigated by the Federal Bureau of Investigation and prosecuted by Deputy Criminal Chief Dave Fulcher and former Assistant United States Attorney Andrew Eichner.
Related Federal Cases
- Academy Packing Co, Wire Fraud, Michigan 2002 · Alabama
- Kenneth W. Matthews, Conspiracy to Defraud SBA, TX, 2023 · Oklahoma
- Gary R Gibbs, Conspiracy to Defraud, LA 2023 · Oklahoma
- Derrick Gadsden and David Gadsden, Wire Fraud Conspiracy, Montgomer… · Alabama
- Bobby R. Lowe, Mail Fraud Conspiracy, LA 2024 · Alabama
Key Facts
- State: Mississippi
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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