Mississippi Securities Firm Leader Indicted

By: The Associated Press
By: The Associated Press
A federal grand jury has indicted the former CEO of a defunct securities firm in Pearl with bankruptcy fraud and concealment of assets.

MGN Online

Jackson, Miss.

A federal grand jury has indicted the former CEO of a defunct securities firm in Pearl with bankruptcy fraud and concealment of assets.

Prosecutors allege William Marshall Wolfe, as head of MTW Investment Financing LLC, operated a number of smaller firms under the MTW umbrella that sought investors' money under the guise of putting it toward rehabilitating real estate properties.

The indictment alleges the companies were in bad financial shape and unbeknownst to investors Wolfe "drained the companies of millions of dollars within a short period of time."

Prosecutors say that, while in the course of filing for Chapter 11 bankruptcy, Wolfe fraudulently transferred property from one of his companies, Steadivest LLC, to another, Investline/TFS Fund LLC.


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