Baker Donelson Director Seeks Ch. 7 Cover From Ponzi Suit

Law360 (November 5, 2019, 3:56 PM EST) -- A member of the board of directors at Baker Donelson Bearman Caldwell & Berkowitz has filed for Chapter 7 bankruptcy in Mississippi, asking to hit the pause button on allegations that he had been involved in propping up a Ponzi scheme.

Jon Darrell Seawright, who has been with Baker Donelson since 2001, filed for bankruptcy on Sunday, telling the court he has a net worth of $1.29 million but owes creditors $166 million, identifying the debts as primarily business related.

Seawright has also asked to freeze a suit brought by the receiver for companies founded by convicted fraudster Arthur Lamar Adams,...

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