SEC Uncovers $85 Million Ponzi Scheme in Madison Timber Properties
Last month, the Securities and Exchange Commission filed a civil lawsuit
against Madison Timber Properties LLC, and its owner, alleging that the
$85 million operation was nothing more than a
According to public records as well as the investigation of the Meyer Wilson
law firm, Investors were told that
their money would be used by Madison Timber Properties to acquire timber-harvesting
rights from various land owners on behalf of investors. The company would
allegedly later harvest the timber and pay investors with the profits.
In reality, earlier investors were allegedly paid with funds obtained by
newer investors, and investor funds were used to pay the personal expenses
of Arthur Lamar Adams, the owner of Madison Timber Properties.
Investors were generally told that
they would receive an annual return of 12%-15%, which was to be paid over
the course of the year. At the end of the year, investors could either
have their principle returned or roll their money over into a new investment.
It is alleged that at least $85 million was raised through the sale of
these unregistered securities to approximately 150 investors.
If you invested in Madison Timber Properties, our team of investment fraud
lawyers at Meyer Wilson may be able to help. Over the years, we have successfully
recovered more than $350 million for our clients and continue to fight
these cases in arbitration and court. Call us at one of our offices located
across the United States, or
send us your information through our online form to get started with a free consultation today.