From the Clarion Ledger:
The Mississippi Secretary of State’s Office is investigating whether a developer fraudulently diverted bond money from the Metrocenter Mall revitalization to fund a land deal with the city of Meridian for a new police station.
Secretary of State Delbert Hosemann’s office is holding administrative hearings on the issue with developer David Watkins and Watkins Development LLC, which helped form and manage Retro Metro LLC.
In a legal notice, Hosemann’s office says Watkins diverted $587,000 of $5.2 million in Mississippi Finance Corp.-issued bonds for Retro Metro to help close a real estate deal in Meridian. Watkins formed Meridian Law Enforcement Center LLC to purchase property in Meridian to lease to the city for a police station.
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Magnolia Tribune
