Very disappointed

Soddy Daisy, TN

#292 Nov 13, 2012
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation. The Ponzi scheme usually entices new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. Perpetuation of the high returns requires an ever-increasing flow of money from new investors to keep the scheme going.[1]
The system is destined to collapse because the earnings, if any, are less than the payments to investors. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.[1]
The scheme is named after Charles Ponzi,[2] who became notorious for using the technique in 1920.[3] Ponzi did not invent the scheme (for example, Charles Dickens' 1844 novel Martin Chuzzlewitt and 1857 novel Little Dorrit each described such a scheme),[4] but his operation took in so much money that it was the first to become known throughout the United States. Ponzi's original scheme was based on the arbitrage of international reply coupons for postage stamps; however, he soon diverted investors' money to make payments to earlier investors and himself.
this sucks

Chattanooga, TN

#293 Nov 13, 2012
I have been friends with the Browns for a long time. When Jack got sick years ago, I questioned him about my money that he had which was making 10% interest and asked him what would happen to my money if anything ever happened to him. Jack told me flat out that Jason knew everything about everything that went on at the office and that Jason would handle it. There wasn't anything that went on at that office that Jason was not aware of.
Big bear

Soddy Daisy, TN

#294 Nov 13, 2012
NO "RED" I'm not one of the browns but I do know all of them very very well . I knew from the beginning something wasn't right with jacks business , and I also know Jason or his wide or his kids had not a thing to do with it . Anyone who said they did are as ignorant as they come . I knew you had no money invested with them I just don't understand why you would have the right to bash the innocent ! You and others have posted some pretty low down stuff . I never said not one time in any of my posts that I supported anything that has happened at all period , but you have had the whole family drug onto the chopping block . That's what I have been trying to avoid ,posting stuff that I don't know what I'm talking about . You say your posting for others , what do they call you and tell you what to say ! Or are you just assuming that's what they would say , either way its not your place ! DON'T THROW STONES AT ME !!!!!!!
More Info

Cleveland, TN

#296 Nov 13, 2012
church wrote:
what other church was involved?someone said 2
The Browns left Union Fork Baptist Church after they realized their money would not allow them to make all the calls and run it how they saw fit.
Just sayin

Duluth, GA

#298 Nov 13, 2012
Sale Creek COG is not the only money hungry church on the district. Their neighbor COG right down the street that is on Dayton Pike is not any better! To the one who ask if preachers preach against this stuff...Yes they do but they don't live it. That pastor preaches hell fire brimstone and then turns around lies behind the pulpit. So just bc Jack called himself a preacher doesn't mean a thing!!
Big bear

Soddy Daisy, TN

#299 Nov 13, 2012
Some times it's really a wolf in Sheep's clothing . And that's terrible
Same ol me

Soddy Daisy, TN

#300 Nov 13, 2012
Your right
red

Soddy Daisy, TN

#301 Nov 13, 2012
big bear what kind of assanine statement was that you just made...i have maintained from the beginning that kim was not involved in this mess. of course is goes without saying the children are innocent. my posts have just mentioned jack, janet and jason...you are not the only one that "thought" they knew the brown's. look at all these other posts and really read them..all of them betrayed and taken advantage of...like you i have know the brown's for many years but unlike you i could see through their false outer layer and see to the black inside..while you champion these people i choose to take the broken one's into my prayers and thoughts..i have not posted any low down stuff just merely posted my oponion of which you must diagree but that is certainly your right. don't get so bent out of shape because i asked you if you were one of the brown's if that is throwing stones at you then maybe you are not sure about your "good friends" as you once were. starting to question their integerity?? so sorry you chose me to badger but i can take it..i can respond, the people the brown's ruined can't...have a wonderful evening.
Yikes

Soddy Daisy, TN

#302 Nov 13, 2012
I doubt any of those propertys will cover what he scammed. The giant blue house has been on the market for years. Even if they are seized and sold they are "Elvis" tacky as all get out and would require a complete overhaul. On another note, half of Soddy Daisy has allowed them to do their taxes, makes you wonder were they done correctly? We will all be audited and end up having to pay? If the IRS goes through this with a fine tooth comb and discovers descrepancies that you were unaware of, whooaa boy the creek will be getting deeper. Can they continue to live in this small town with such a scandal? I see a made for TV documentary on the horizon.
Lied to

Hixson, TN

#303 Nov 13, 2012
Elvis tacky....I love it!
wonderer

Soddy Daisy, TN

#304 Nov 13, 2012
They said on the news tonite the feds were involved and that it could take a while to sort out
this sucks

Chattanooga, TN

#305 Nov 13, 2012
The petition filed in Chattanooga Bankruptcy Court names Brown and Brown Tax Service and lists some of those owed money from an alleged pyramid scheme.

The list includes:

Carl Wayne Hixson and Michael Eric Hixson, Soddy Daisy $480,000

James R. Raulston Soddy Daisy $167,000

Randy Raulston Soddy Daisy $30,000

Carl Wayne Hixson Soddy Daisy $100,000

Pamela Hixson Soddy Daisy $40,000

Leonard and Janice Thompson Rockwood $30,000

Mary Cunningham Rockwood $400,000

Teresa Hagler Rockwood $24,000
wonderer

Soddy Daisy, TN

#306 Nov 13, 2012
how does one get added to this list
Elmo

Hixson, TN

#307 Nov 13, 2012
Church, are you stupid enough to believe Jack was the brilliant investor who made money because he was so smart? Are you a fool? He never invested in any thing, it was all a con, he played in the stock market , bet the horses, and bet on the dogs at the track, all with every bodies else's money. He never made anybody any money, all he did was take. It was a ponzie scheme. It was always the last investor who paid the first and it went on and on until it collapsed! All Jack was was a crook, plain and simple. Use your head, why does the bank pay you almost nothing on your money and legitiment stock investments pay not much more! How does an uneducated idiot like Jack make money when no one else can? He didn't! If he was so smart, why didn't he just keep quit, use his money and keep the 10 to 20% profit he made to his self, I would , wouldn't you? If you knew Jack you know what I am talking about.
Knows a lot

Hixson, TN

#308 Nov 13, 2012
To wondered, contact Rebecca Hicks in Dayton. She is an attorney .
Knows a lot

Hixson, TN

#309 Nov 13, 2012
Wondered, Becky hicks, Dayton ,attorney
Knows a lot

Hixson, TN

#310 Nov 13, 2012
Sorry about some of my posts, this sight censors some of them, just trying to help everybody
Big bear

Soddy Daisy, TN

#311 Nov 13, 2012
The only thing I question is your motive !
Knows a lot

Hixson, TN

#312 Nov 13, 2012
I have no motive except justice, I would like to see wrongs made right, I know and care about a lot of people involved. I know Wayne and Mary, they are good people and I know a lot of others, they didn't deserve this, no one did. I talked to an elderly lady in front of Browns office last week, she was just standing there, she told me she needed her money and didn't know what to do. She asked me if I knew anything about this, I did, but what could I say, just another poor old widow woman left with nothing! It made me sick, I have seen and been through a lot in life, but I must say this is burnt in my mind and I will never forget this. I know all is lost for these people, but maybe there is a chance they can get some of their Money back, if not maybe justice!
Tn fan

Sale Creek, TN

#313 Nov 13, 2012
This truly is a sad situation for a lot of people. You really want to see the good in people but then you see something like this happen and well you loose hope in man kind. I honestly thought that wow you know God really has blessed this family! I guess some of the greatest blessing don't necessarily come from big bank accounts, fancy houses, or even expensive trips. Will continue to pray that justice will prevail for all

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