The preliminary list of those who have lost money by investing with the now bankrupt Brentwood financial advisor Michael J. Park was filed last night in the United States Bankruptcy Court for the Middle District of Tennessee.
The total amount of money lost was not revealed in the filing, but some interesting names were.
Among them is Traci Peel. Peel, for those relatively new to Nashville, is the former wife of Nashville's former mayor, Bill Boner. She currently handles marketing and special events for the Laurel Cove golf community being built in Williamson County and is well known for her highly public relationship with Boner. That relationship garnered so much attention that it earned them an appearance on national television with Phil Donahue.
Also on the list is Martha Stinson of Burns. Stinson's daughter, Donna Jones, was Park's bookkeeper for the entire life of his company, Park Capital Management Group. Stinson is listed as having lost $500,000.
The filing – which also shows that Park this past April paid an investor $50,000 to settle an inappropriate trading complaint similar to a case last year – does not reveal how much each individual creditor is owed. The document says that all of the business records are now in the possession of bankruptcy trustee Sam Crocker.
Contacted by NashvillePost.com, Crocker said creditors will meet this coming Monday at 1 p.m. at the Customs House downtown. While Park will not be in attendance and his criminal attorney is out of town, Crocker strongly urged creditors to attend.
He said that he wants to use the opportunity to update creditors on what is going on in the case. Crocker said creditors will likely get more information out of this hearing than if Park were present. There will be a date set for creditors to attend a bankruptcy hearing that Park will attend.
Here is a link to the bankruptcy filing.
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