According to the New York Times and Associated Press, Senator Roger Wicker confirmed he did lose money to the scheme when he thought he was investing in what was supposed to be rights to cut timber.
Federal prosecutors charge it was a Ponzi scheme, though, with a Jackson man named Arthur Lamar Adams using cash from later investors to pay off high-interest loans he received from earlier ones.
“My wife and I are victims of this apparent fraud,” Wicker said in a statement Thursday. “Like many others who stand to lose money in this scheme, we are very surprised and disappointed. We are learning of this through news reports like everyone else.”
Wicker didn’t immediately say how much money he has at risk.
New York Times
5/4/2018
About the Author(s)
Sarah Ulmer
Sarah is a Mississippi native, born and raised in Madison. She is a graduate of Mississippi State University, where she studied Communications, with an emphasis in Broadcasting and Journalism. Sarah’s experience spans multiple mediums, including extensive videography with both at home and overseas, broadcasting daily news, and hosting a live radio show. In 2017, Sarah became a member of the Capitol Press Corp in Mississippi and has faithfully covered the decisions being made by leaders on some of the most important issues facing our state. Email Sarah: sarah@magnoliatribune.com
More Like This
Previous Story
Next Story
News
|
Lisa Mascaro
, Stephen Groves, Associated Press
, Farnoush Amiri, Associated Press
•
November 21, 2024
Republicans on House Ethics reject for now releasing report on Matt Gaetz
Rep. Susan Wild of Pennsylvania (D) said the House panel, which is evenly split between the two parties, voted at a lengthy closed-door meeting, and no Republican joined Democrats who wanted to release the report.
