- Two Jackson men have pleaded not guilty and are set for trial July 6.
- They are accused of soliciting more than $20 million from over 50 investors.
- Arthur Lamar Adams is already serving time for his role in the $100 million Ponzi scheme.
- A court-appointed receiver is still trying to recover assets for victims.
Two Jackson men, accused of defrauding investors as part of a massive $100 million Ponzi scheme spearheaded by Arthur Lamar Adams, are set for trial in July.
The Ponzi scheme, the largest in Mississippi history, affected dozens of victims across multiple states.
Ted Brent Alexander, 55, and Jon Darrell Seawright, 49, appeared Thursday in federal court in Jackson, where they pleaded not guilty to six counts each related to the scheme, acting U.S. Attorney Darren J. LaMarca and FBI Special Agent in Charge Michelle Sutphin said in a news release.
The men allegedly solicited more than $20 million from over 50 investors through the scheme, government officials say.
They were indicted in February 2020 but the indictment was filed under seal until the men made their initial court appearance before Magistrate LaKeysha Greer Isaac. Both men were released on unsecured bonds.
Arthur Lamar Adams and Madison Timber properties connection
Government officials say Alexander and Seawright are believed to have defrauded investors through a Ponzi scheme promising guaranteed returns to investors who thought they were lending money to a “broker” enterprise purchasing timber that was…