The winners in the Madison Timber ponzi scheme might not be winners for long. This Miss. Business Journal article by Jackson attorneys Win Gault and Spencer Ritchie discuss clawback actions to recover money paid out to ‘investors.’

Clawbacks are bad news for early investors who think they dodged a bullet by getting out.

Meanwhile, Kingfish has a post about the SEC and Secretary of State’s efforts to have a receiver appointed for Lamar Adams and Madison Timber. A receiver would likely be the person/ entity who leads the clawback efforts.

I’m surprised there has been only 1 civil action filed so far.