browns tax service
SDPERSON

Nashville, TN

#396 Nov 15, 2012
All of this crap is off topic. Who cares what Tiffany does or does not drive. Holy Crap if you or anyone else doesn't like our southern twang and our inappropriate use of nouns and verbs in Soddy Daisy move or get of the site. This is for people that want to sound off about Brown's Tax Service. I attended college and I have a degree that will allow me to get a job anywhere I please. What I don't need is some idiot SPENDING my money or more importantly MY DAD's money, or someone else telling me how to speak. I live in Soddy Daisy and I love it. Would not live anywhere else. I knew the Brown's (all of them) where too good to be true! I just wish my dad had listened.
Laura_B

Chattanooga, TN

#397 Nov 15, 2012
Praying daily for all those involved and especially for the kids.
Suzie Q

Chattanooga, TN

#398 Nov 15, 2012
Same ol me wrote:
Nobody on here wants to talk about what the Browns did for the community , or the the ones who had nothing . I am at a loss for words on what Jack has done , but it has been done and can't be taken back . I know Jason and his kids , if for one minute he knew what Jack was doing ,trying to get a 10% return on millions of dollars he would have cut ties. To invest that kind of money comes with a risk of loosing it all , well guess what the game of investment has been lost ! MONEY IS THE ROOT OF ALL EVIL , it turned you all bad wanting a 10% return on money that you had no intention of reporting anyway !!!!!!
Your quote is wrong...It is the LOVE OF MONEY is the root of all evil!
Also, when Jack was promoting his investment prowess as a daytrader, he said not to worry about his illness as Jason could run the business as well as he could because Jason was a daytrader too and he taught him all he knew.
Now that may or may not have meant how to cheat people and made Mr. Charles Ponzi proud.
I do wonder however how Mr. Brown slept at night while he was stealing from all those people. I wonder if his illness is a direct relation to a stress-full life style.
buy gold

Soddy Daisy, TN

#399 Nov 15, 2012
Money that going into ponzi schemes never gets lnvested
red

Nebo, NC

#400 Nov 15, 2012
People who participate in a ponzi scheme are just as much as a criminal the person that puts it on.
Allen

Hixson, TN

#401 Nov 15, 2012
Red- I guess we are all going to jail, I hope so then I at least we will have a bed and three meals a day. Maybe we were stupid, but we are not criminals. I lost everything by trusting my friend. I do know my brother, who got all his money back last year might have to give it back to the Feds because of his unwilling participation in a Federal crime,but be assured none of us are going to jail, but I know more than a few of us wouldn't mind being in the same cell as one of the Browns!
SoddyDaisyGirl

Hixson, TN

#402 Nov 15, 2012
No one will have to pay back thier original investment monies....however, if it turns out that this was not a legitament business dealings...anyone who profitted from this will have to pay back anything over the amount of thier original investments. In other words..if you put in 10,000 and got back 20,000 you will owe the feds 10,0000...thats how they recoup others money
SoddyDaisyGirl

Hixson, TN

#403 Nov 15, 2012
and no one that invested will be doing any prision time
Allen

Hixson, TN

#404 Nov 15, 2012
SoddyDaisyGirl wrote:
No one will have to pay back thier original investment monies....however, if it turns out that this was not a legitament business dealings...anyone who profitted from this will have to pay back anything over the amount of thier original investments. In other words..if you put in 10,000 and got back 20,000 you will owe the feds 10,0000...thats how they recoup others money
Thanks, that is helpful, I have been worried.
Allen

Hixson, TN

#405 Nov 15, 2012
And by the way, I never received one red cent, no cash, no check, no nothing, just a big worthless balance sheet!
Ubettercheckonit

Muscle Shoals, AL

#406 Nov 15, 2012
Regarding those people who recieved money from their investment with brown. Better check with Attorney about how you could be required to pay back funds. All funds you received may have to be returned then court may determine amount each person is entitled to receive.
NY Groove

Tunnel Hill, GA

#407 Nov 15, 2012
I am not sure that SoddyDaisyGirl is giving correct information. Allen and others, you would be better served seeking advice from an attorney. Pay particular attention to what he/ she may say about Tennessee Usury Laws and The Clawback Provision.

Often, after discovering that they were invested in a Ponzi scheme, victims are left in a state of shock wondering how they became embroiled in such a travesty. Many reflect, concluding in hindsight that the investment was simply ‘too good to be true.’ That shock may later turn to disbelief for those unfortunate enough to have profited from their investment, when a court-appointed receiver or bankruptcy trustee pursues clawback litigation designed to, as the very name suggests,“claw back” any profits received in excess of an investor’s contribution. Logically, those who had invested in a scheme for a considerable period of time faced the prospect of being on the hook for hundreds of thousands, or even millions, of dollars in ‘false profits’, as well as pre-judgment interest. And, in a recent development, if several court-appointed receivers and trustees have their way, some clawback targets may soon be facing the prospect of not only owing their false profits, but triple damages based on violations of state usury laws. Courts routinely uphold the use of clawbacks to recover funds for the benefit of investors who truly suffered losses, reasoning that equitable principle require that investors should not be allowed to profit from a Ponzi scheme when, in all likelihood, the payment of ‘profits’ was simply the re-distribution of funds from existing investors. While a relatively new concept in Ponzi scheme jurisprudence, clawbacks have been used to recover funds paid not only to investors, but to charities, foundations, and political campaigns, and are often one of the greatest methods used to recover funds for victims.
wonderer

Soddy Daisy, TN

#408 Nov 15, 2012
Wendy you are absolutely right leave Tiffany out of this she had nothing to do with it people so back off. I think Tiffany is one of the most honest and caring people i know.. so people get your facts right..
SoddyDaisyGirl

Hixson, TN

#409 Nov 15, 2012
Um yeah, thats pretty much what i said, your gonna have to pay back profit. But just an FYI....he has in tha past made some legitament investments for people, I know that does not mean anything now, but some people that gave him money and turned a profit are going to be safe.
Suzie Q

Chattanooga, TN

#410 Nov 15, 2012
It appears we are talking about "profiting" from the Ponzi scheme, not getting back one's original investment.
I also wonder if all the records are available regarding who invested what and when and how much and withdrawals etc, as Jack's forte was not recordkeeping. When one is stealing, one tends to not leave a an accurate and up to date paper trail. Regarding the people I know who invested, they never received a statement and received only verbal accounting of their funds, if anything at all.
Quite the hot mess!
Big Bear

Adrian, MI

#411 Nov 15, 2012
What is going to happen to all of us that gave him cash and received our 20% back in cash?
Soddy d

Graysville, TN

#412 Nov 15, 2012
Big Bear wrote:
What is going to happen to all of us that gave him cash and received our 20% back in cash?
Well that to me just sounds like your as guilty as he. How many investment groups actually pay in cash give me a break
wonderer

Soddy Daisy, TN

#413 Nov 15, 2012
when are they gonna be arrested i know Jack wont be but what of the others Janet Jason whats up with that anybody else would have already been arrested oh and by the way according to the news he is real sad and sorry that this has happened wow a little to late to be sorry huh
Anonymous

United States

#414 Nov 15, 2012
I'm assuming no 1099s were ever issued by Mr. Brown upon payment of so-called earnings, and therefore not included on the investors' Form 1040 or 1041? That would indicate the investors were complicit in this alleged scheme if their so-called earnings were not reported to the taxing authorities. Or am I merely stating the obvious? I'm not smart enough to be a criminal it's apparent.
sooooo sad

Soddy Daisy, TN

#415 Nov 15, 2012
he is real sad and sorry that this happened...dont think he is sorry or sad for the people...just that he got caught and ran out of money to spend..

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