An inside look at the growth of and changes in the forensic accounting sector [From the July/August edition of Nashville Post magazine]
Jul 8, 2011 7:18 AM
U.S. Marshals Service officers today raided the Franklin home of Sommet CEO Brian Whitfield and his wife. But it might be a while before creditors of the HR services company that used to sponsor the home of the Predators see some money coming their way.
A tipster called and said they saw a moving truck outside with seven agents loading up boxes from the home. Shelton said they are there to remove property but haven't touched a thing yet. Marshals can't remove property because Marsha Whitfield filed for personal bankruptcy. Shelton said they will remain on the property pending orders of the court.
Feb 2, 2011 2:16 PM
In this week's City Paper, our own Ken Whitehouse has plenty of perspectives on the exploits of former Franklin financial advisor Jeff Cassman, who absconded with about $1 million of his clients' funds and settled with his large family in Guatemala.
On GUateliving.com, Cassman posted daily observations about life, promoted business ideas, offered to have drinks with those looking to invest in the area, bragged about how he knew how to bypass or manipulate Guatemalan government officials, and appeared to generally take pleasure in goading readers into Internet fights. Using the nom de plume Don Marco, he quickly became a pariah to some and a mysterious friend to others. In one post, Cassman seemed to present himself as a successful businessman, while in another, he belittled and berated citizens of his adopted home. This happened frequently. Ex-pats living in Antigua who met him there have told The City Paper that he would say little in detail about his past except to claim he was from Phoenix, where he worked as an investment banker and had cashed out because he saw the current economic crisis coming.SEE ALSO: Ken's full coverage of the Cassman drama as it unfolded
Jan 3, 2011 7:30 AM
John Rankin, developer of Ashland City's Braxton condominiums, has been indicted on charges of stealing more than $73,000 from a Cheatham County couple — money he allegedly used to pay county fees at his Shoals Landing Marina. Rankin, who is now working at a Wal-Mart in New Hampshire, will be represented by a public defender.
Oct 21, 2010 1:30 PM
Ray Termini, who recruited Travis Tritt to his Category 5 record local earlier this decade, has been sentenced to a year and a day in jail in Connecticut three months after pleading guilty to fraud charges related to his former nursing home venture, Haven Healthcare. SEE ALSO: Record exec Termini unloads Music Row property from 2008
Apr 21, 2010 7:35 AM
Steven Byers, the former CEO of real estate and investment firm WexTrust Capital, has pled guilty to counts of conspiracy and securities fraud in New York. WexTrust once owned more than 3 million square feet of space in Middle Tennessee, but the phrasing of how its principals' fraud went down reads depressingly familiar to the fraud cases that have gone down in this part of the country of late.
Instead, virtually all of the funds raised from investors to purchase the properties were diverted by BYERS and others to other purposes, but investors were never informed that the funds were used for any purpose other than to purchase and operate the seven GSA properties. BYERS and others later agreed to make up a story that they would then tell the GSA investors regarding what happened to their investment.
Apr 14, 2010 8:59 AM
The State Attorney General and Williamson County District Attorney have indicted a couple that formerly lived in Franklin as well as two of their employees. They have been charged with stealing millions — from people with an average age of 76 — via a scheme that marketed worthless 'charitable' annuities. A July 2008 story in The City Paper detailed the allegations against Richard and Susan Olive.
Feb 26, 2010 3:03 PM
Ray Termini, founder of the former Category 5 Records that housed Travis Tritt and Sammy Kershaw, has pleaded guilty to wire fraud in a case centered on the operations of his former nursing home company, Haven Healthcare. Termini sold the Music Row home of Category 5 in early 2008.
Jan 8, 2010 11:48 AM