Was the $30,000,000 an Adams family secret?

The arrest of James Perdigao was headline news in November 2004.

James Perdigao, formerly of the New Orleans law firm Adams & Reese, was arrested on federal mail fraud charges, U.S. Attorney Jim Letten announced. The fraud amount was described as significant.

Perdigao was charged with scheming to defraud Pinnacle Entertainment Inc.’s Boomtown Casino by billing millions of dollars in false invoices for services that were not rendered. Perdigao remains in federal custody.

Letten said it appears other co-conspirators were involved and the investigation is ongoing. (emphasis added)

However, when the indictment came down in July 2007, no co-conspirators were named and Adams and Reese allowed the government to retain the $30,000,000 paid by the firm’s clients but deposited elsewhere by Perdigao. (emphasis added)

All but Perdigao appear to have been satisfied the crime was a one-handed operation that included the mail fraud cited at the time of his arrest – and, then again, maybe not given the allegations made in the RICO complaint Perdigao filed last week. After all, this is the Adams family:

It’s creepy and spooky,
Mysterious and kooky
30 million bills too ooky
For the Adams Family.

Not to even want to see ‘em
Letin’ other people keep ‘em
What a team
The Adams Family.

Need one to pin the blame on
Keep the public face on
With so many friends to call on
The Adams Family.

Since the Jackson office opened in 1996 – after Perdiago reportedly started diverting funds to these account – it has grown from nine attorneys to 23 attorneys with a total of 51 employees while other offices have been established across the south.

Could the $30,000,000 forfeited be linked to the lack of co-conspirators when the indictment was handed down and kept a family secret until Perdigao let it slip via his Motion to Recuse and subsequent RICO complaint – and, if so, does that account for the departure of five attorneys from the more recently established Nashville office last week?

4 thoughts on “Was the $30,000,000 an Adams family secret?”

  1. A couple of questions and observations:

    If any other A&R attorneys were involved with Perdigao in “accumulating” the $30 million, why didn’t he say so in the RICO complaint? Why wasn’t that the centerpiece of his complaint?

    The “ticket fixing scheme” seems like a no-brainer to verify. If I had to bet, I would bet that Perdigao has copies of those alleged faxes and correspondence from Sholes to the clerk’s office. It should be easy to cross reference those with the tickets and court records showing they have either been paid or dismissed.

    Sholes is running for an appellate court seat in the upcoming elections. His opponents may be checking the traffic records for names of people showing up on his campaign contribution reports.

  2. Good morning Gentlemen. Mr. NAAS your question is excellent and the central one to whether the RICO complaint he filed goes anywhere beyond publicizing his allegations of bad behavior at A&R.. One possible reason he would not mention it is if the $30MM represented a slush fund to finance illegal activities and Mr Perdigao was complicit in setting it up such an admission would not help him on the criminal side of this story. Whatever the exact reason I think the answer has it’s roots in the criminal investigation.

    I think you nail the general feeling among us mushrooms watching that the entire story is not yet out.

    Mr Bryce merci beaucoup.

    sop

  3. Right, who his co-conspirators are is the case that the US has to make and thus far, the US hasn’t told us who that would be. I don’t think they can identify a victim either.

    Now, do you understand why Letten’s office needs to be recused.

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