Lawsuit Claims Baker Donelson, Butler Snow Share Responsibility in Ponzi Scheme

The court-appointed receiver for the estates of confessed Ponzi schemer Arthur Lamar Adams and his disgraced company, Madison Timber Properties, has sued Baker, Donelson, Bearman, Caldwell & Berkowitz and Butler Snow for allegedly abetting or turning a blind eye to Adams’ $100 million scheme, Law.com reports. Receiver Alysson Mills argues responsibility for the scheme extends far beyond one individual, claiming that individuals at the firms ignored red flags and even abetted the scam. Both law firms issued statements adamantly denying the allegations against them and promising to vigorously defend themselves in the suit.
 
 
          | TBA Law Blog