Downtown property of former Stanford exec sold
by Associated Press
Published: September 1,2011
BALDWYN — Earl Stone was the lone bidder for seven downtown Baldwyn properties once belonging to James Davis, the former CFO for the defunct Stanford Financial Group.
The Northeast Mississippi Daily Journal reports Stone paid $155,000 for the properties. Stone says he hopes the properties will be used to help reinvigorate the area.
Davis is among several former company officials accused of bilking $7.2 billion from investors through a ponzi scheme involving Stanford certificates of deposit. Davis pleaded guilty in September 2009 for his part in the scheme and waits to testify in criminal trials in Houston, Texas.
Attorneys for Ralph Janvey, the court-appointed receiver in charge of liquidating Stanford assets, said it could take about 60 days for Stone to receive clear titles to the properties.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Chris McDaniel gets a thank you note from Travis Childers
- Senate passes teacher pay raise legislation
- Lawmakers debating alternative to Medicaid expansion
- Pickering collects more money from failed beef plant project
- The First acquiring Alabama bank in cash/stock deal
- Todd Smith's Spin Cycle — Not milk! It’s end of era for milk industry’s iconic ‘Got Milk?’ campaign
- States settle with manufacturers in DRAM price-fixing case
- District at Eastover takes shape with financing in place, tenant signings under way
- MBJ's Businesswoman of the Year never expected her career to take this path
- Mississippi ag aviation plays a critical role in production and profitability