The indictment states that some clients of the firm (including us) were "deliberately and fraudulently" induced to invest in Benchmark Capital, while Allen knew that the money was never legitimately invested but converted to her own use and to others known by the grand jury. Needless-to-say, it's sickening to think that while we were working honestly and placing money into the Benchmark Capital annuity in order to to enter retirement soon, J Allen and others living and prospering from our money. Our thoughts now rest in forgiving those who wronged us and going forward by the grace of God to rebuild as we can. Our thoughts and prayers to out to those less fortunate.
Read the article at knoxsnews.com . According to other articles the money laundering involved a series of checks to Benchmark Capital, totaling $1.3 million, deposited by J Allen and Kay Thomas into a bank account that Allen had opened on Candler's instructions. Following Candler's death, the indictment alleges, Thomas, acting on Allen's instructions, withdrew from that account $946,326 in the form of nine cashier's checks. The checks were payable to various individuals, including Thomas, Allen and others including some relatives of the two women.
U.S. Marshals Service photos -
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| Joyce Allen |
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| Kay Thomas |
The indictment states that, "The business purpose of Benchmark was to defraud investors by taking their funds in exchange for worthless and nonexistent investments," the indictment states. "One of the purposes of (Allen's firm) was to identify potential investors (from among its clients) then (to defraud them) by selling them investments that Allen knew to be worthless."
My father is listed as a potential victim in this investigation, but had no dealings with these two women...FYI, we just received notice this week (8/6/2012) that Benchmark Capital, Inc. has filed Chapter 7 Bankruptcy. My father is listed as a creditor in the case...I am sure that many others are, as well...
ReplyDeleteWe also received notice of Benchmark Capital filing Chapter 7 Bankruptcy and if I'm not mistaken, Candler's wife is also named in the bankruptcy notification. It is sad that those who are parties to dishonesty have protection under the law but as of yet we've seen no protection of our money that was intested in trust.
ReplyDeleteHow sad news. So what will they do now? This case is very sensitive so that you need to focus on it. Good for those police who handled this kind of case. Keep on sharing!
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As far as what they'll do - the only we have at this time is "we don't know". In fact, we don't even know if the last trial happened.
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