Home » NEWS » Economic Development » Appeal bond for Watkins under consideration

Appeal bond for Watkins under consideration

Associated Press

Mississippi Court of Appeals judges are considering whether a Jackson developer who was ordered to pay more than $600,000 for securities violations must post an appeals bond while he tries to overturn that ruling.

Three judges heard arguments Wednesday from attorneys representing developer David Watkins and from lawyers for Secretary of State Delbert Hosemann.

Requiring Watkins to post an appeal bond is “the only way to sufficiently protect the taxpayers,” said Jim Smith, representing Hosemann.

Watkins’ attorney, Brad Pigott, said Watkins was financially ruined by Hosemann’s “three years of crusading” and has no assets. Watkins and his wife recently lost their house, Pigott said.

It was Hosemann who initiated an administrative proceeding against Watkins for alleged securities violations. A hearing officer found that Watkins diverted money intended for redevelopment of part of Metrocenter Mall in Jackson and using it for renovation of a police department building in Meridian.

The state appeals court ruled in June that Watkins and his company, Watkins Development LLC, must repay $587,000 in misused bond money, plus $75,000 in fines.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Ross Reily

Ross Reily is editor of the Mississippi Business Journal. He is a husband to an amazing wife, dad to 3 crazy kids and 2 dogs. He is also a fan of the Delta State Fighting Okra and the Boston Red Sox.

Leave a Reply