SC - Paul Murdaugh, 22 and mom Margaret, 52, found shot to death, Islandton, 7 June 2021 #11

[sunshineray]

https://www.fitsnews.com/2022/01/17...es-mallory-beachs-mom-of-holding-him-hostage/
The younger brother of disgraced Hampton County attorney Alex Murdaugh is accusing the Beach family attorney of holding him “hostage” by effectively preventing him from selling the property where Alex’s wife and son were murdered last summer.

The Moselle property — a 1,700 acre hunting property in Colleton and Hampton counties — belonged to Alex’s wife, Maggie Murdaugh, at the time of her death.

The land was transferred to Alex from the wife of an alleged drug smuggler in September 2014 for $5 as collateral toward a $970,354 “mortgage” that was purportedly owed to Alex. In December 2016, Alex transferred the land to Maggie for $5 and “love and affection.” After Maggie’s death, Alex’s older son Buster released the family of the alleged smuggler from having to pay back the purported debt.
According to documents filed in Hampton and Colleton counties last week by John Marvin Murdaugh, who is the personal representative for Maggie’s estate, the property has a more than $2 million mortgage on it and is in danger of being foreclosed on by Palmetto State Bank.

So was BM was allowed to release an assett owed to MM before her estate completed probate? That sure doesn't sound right. Am I wrong in thinking that any property in probate needs a judge's ruling be sold off to meet debts? Even debts yet to be claimed. Isn't at least a 6 months given for people owed by estate to file?

 

[Satchie]

So was BM was allowed to release an assett owed to MM before her estate completed probate? That sure doesn't sound right. Am I wrong in thinking that any property in probate needs a judge's ruling be sold off to meet debts? Even debts yet to be claimed. Isn't at least a 6 months given for people owed by estate to file?

I think the debt must have been owed personally to Alex, not to Maggie's estate and not registered on the land.

Buster was given power of attorney over Alex's affairs, not over Maggie's estate.

"The injunction granted Tuesday prevents Buster and Alex "from doing anything further by way of transfers, sales, forgiveness of debt or payments to extinguish alleged debt and voids the power of attorney that Alex gave to Buster in September," according to Bland and Richter. " SC judge freezes Alex Murdaugh's assets as civil suits against disgraced legal scion mount

I don't really understand the transactions, since Alex hadn't outright purchased the land, but was presumably required to transfer it back to the original owner once the $970k was paid back.

But, it appears he transferred the ownership of the land to Maggie (without the covenant), and, presumably under her name, borrowed $2 million against it.

He wouldn't be able to collect on his original debt, without paying back this $2 million so that Maggie could give back the land.

It does make me wonder, did these types of shell games get him in trouble with someone very dangerous?

JMO

 

[sunshineray]

I think the debt must have been owed personally to Alex, not to Maggie's estate and not registered on the land.

Buster was given power of attorney over Alex's affairs, not over Maggie's estate.

"The injunction granted Tuesday prevents Buster and Alex "from doing anything further by way of transfers, sales, forgiveness of debt or payments to extinguish alleged debt and voids the power of attorney that Alex gave to Buster in September," according to Bland and Richter. " SC judge freezes Alex Murdaugh's assets as civil suits against disgraced legal scion mount

I don't really understand the transactions, since Alex hadn't outright purchased the land, but was presumably required to transfer it back to the original owner once the $970k was paid back.

But, it appears he transferred the ownership of the land to Maggie (without the covenant), and, presumably under her name, borrowed $2 million against it.

He wouldn't be able to collect on his original debt, without paying back this $2 million so that Maggie could give back the land.

It does make me wonder, did these types of shell games get him in trouble with someone very dangerous?

JMO

When she died Mozelle property was hers. If she left everything to just AM his agent/POA(BM) while he was incarcerated could act for him. But if she left a percentage of her holdings to her children (including PM because she'd never think she'd outlive him) now you have two sons and a husband as beneficiaries. That complicates probate.

JMM can cry all he wants about not being able to sell a property that has a huge loan against it before it's foreclosed but with all the dirty dealings involved with his brother including money, he needs to just cool his jets until a judge can figure out the probate.

If Palmetto Bank is the lien holder on Mozelle they will file to get their money, just like all the other creditors or plaintiffs. It may well turn out that institution will wind up being a defendant in some lawsuits anyway. What a mess.

 

[Elley Mae]

https://www.fitsnews.com/2022/01/17...es-mallory-beachs-mom-of-holding-him-hostage/

The co-receivers specifically address Alex’s real estate assets in the report, saying that they “have been able to identify and prevent proposed sales and transfers of assets at what appears to be a decreased value for the sole purpose of satisfying specific creditors, thereby preventing potential preferences and preserve the assets.”

They said they are monitoring Alex’s properties and “ensuring that the real estate taxes are paid and any prior tax liens are removed.”

“It should be noted that the Moselle property is currently not in Alex Murdaugh’s name, but rather is held in Margaret Murdaugh’s estate. As Alex Murdaugh is his wife’s sole beneficiary, Alex Murdaugh will hold an ownership interest in various properties owned by Mrs. Murdaugh’s Estate.”

...

Am I understanding this right? He is given property that he transfers to wife and he/they have borrowed money against it?

Rotten they are, just rotten.

 

[sunshineray]

https://www.fitsnews.com/2022/01/17...es-mallory-beachs-mom-of-holding-him-hostage/

The co-receivers specifically address Alex’s real estate assets in the report, saying that they “have been able to identify and prevent proposed sales and transfers of assets at what appears to be a decreased value for the sole purpose of satisfying specific creditors, thereby preventing potential preferences and preserve the assets.”

They said they are monitoring Alex’s properties and “ensuring that the real estate taxes are paid and any prior tax liens are removed.”

“It should be noted that the Moselle property is currently not in Alex Murdaugh’s name, but rather is held in Margaret Murdaugh’s estate. As Alex Murdaugh is his wife’s sole beneficiary, Alex Murdaugh will hold an ownership interest in various properties owned by Mrs. Murdaugh’s Estate.”

...

Am I understanding this right? He is given property that he transfers to wife and he/they have borrowed money against it?

Rotten they are, just rotten.

It would seem so and now JMM is moaning about it going into foreclosure because he's not being allowed to sell it, Beach family lawyers getting in the way...ugghhh...and there's so much more of this to come with the connections and transactions of another family's businesses and a bank's too yet to come into the mix full tilt.

 

[Elley Mae]

Loans taken out against Moselle, when? Was it still in AM’s names when loans taken out or was it after transfer to MM ?

 

[Elley Mae]

Barrett Boulware dec 2, 1924 to sept 2, 2012

Wife Ann


Barrett Thomas Boulware sept 30, 1956 to sept 12, 2018

Wife Jeannine


...

The S.C. Supreme Court’s Office of Disciplinary Counsel, as part of its probe into Murdaugh’s financial misconduct as a lawyer, named the estate of Barrett Thomas Boulware, the former owner, and others in a subpoena sent to the Allendale County Probate Court in late November.

The subpoena, obtained by the newspapers, sought records from the estate files of Boulware and his mother, Ann Owens Boulware. It also asked for all cases involving former Palmetto State Bank CEO Russell Laffitte, who was fired last week, and a specific case that involved Murdaugh and Laffitte.

https://www.charlotteobserver.com/news/state/south-carolina/article257338287.html

Murdaugh acquired the land from Boulware’s wife, Jeannine Boulware, between 2013 and 2014. In a move similar to Barrett Boulware’s, Murdaugh transferred the property to his wife, Maggie Murdaugh, two years later.

Newspaper clippings from the 1980s show that Boulware and his father, also named Barrett Boulware, faced drug smuggling charges after authorities seized about 15 tons of marijuana aboard a shrimp boat near the Bahamas.

....

 

[Elley Mae]

Does it appear that daughter-in-law signed over the property to AM before her husband, Barrett T Boulware died?

 

[Razz]

It would seem so and now JMM is moaning about it going into foreclosure because he's not being allowed to sell it, Beach family lawyers getting in the way...ugghhh...and there's so much more of this to come with the connections and transactions of another family's businesses and a bank's too yet to come into the mix full tilt.

It was the Beach's attorneys that filed liens on all of AM properties. A very wise move imo. Not sure, but those liens cannot be lifted until the settlement suit with the Beach's is resolved.

 

[Satchie]

Does it appear that daughter-in-law signed over the property to AM before her husband, Barrett T Boulware died?

Yes, she did it in 2014, her husband died 4 years later.

IMO, this transferring assets into wife's name is a fairly common strategy for high dealers, and isn't considered particularly devious. For example, if the highly indebted spouse goes bankrupt, the family home, in the other spouses name, is usually protected.

But if she's been required to mortgage it to the max (like Maggie seems to have) that kind of defeats the purpose.

I think there's a legitimate question whether the Beach family could go after Maggie's estate (or her property if she'd lived) in a settlement.

Is it really the case that your 20 year old son's carelessness will cause you to lose your home and become completely destitute?

JMO

ETA adjusted dates in 1st paragraph to answer the question

 

[sunshineray]

It was the Beach's attorneys that filed liens on all of AM properties. A very wise move imo. Not sure, but those liens cannot be lifted until the settlement suit with the Beach's is resolved.

Glad to hear it!

 

[Satchie]

Just speculating, but IMO, most businessmen would have written off (forgiven) the orginal debt of $970k much earlier. Whenever they began to mortgage the land, and/or transfer it into Maggies name, and/or the original owner died. It's apparent Alex did not expect the debt to be paid back.

Most businesses write off uncollected debt pretty soon, especially if they've actually received something of substantial value, like land.

IMO, Alex wanted to keep the debt on his books, because it made him look to be $1 million richer than he actually was. So he could use it to borrow more money.

So, Alex appears to have gotten $3 million out of that $1 million debt: the $2 million by mortgaging the land, and probably another $1 million by borrowing money, using that never-to-be-paid debt as security.

It's like saying, can I borrow $1,000 bucks, until my paycheck comes in next week? But actually, you're unemployed.

The house of cards is bound to fall down, someday.

Meanwhile, what was he spending his borrowed millions on?

 

[sunshineray]

Barrett Boulware dec 2, 1924 to sept 2, 2012

Wife Ann


Barrett Thomas Boulware sept 30, 1956 to sept 12, 2018

Wife Jeannine


...

The S.C. Supreme Court’s Office of Disciplinary Counsel, as part of its probe into Murdaugh’s financial misconduct as a lawyer, named the estate of Barrett Thomas Boulware, the former owner, and others in a subpoena sent to the Allendale County Probate Court in late November.

The subpoena, obtained by the newspapers, sought records from the estate files of Boulware and his mother, Ann Owens Boulware. It also asked for all cases involving former Palmetto State Bank CEO Russell Laffitte, who was fired last week, and a specific case that involved Murdaugh and Laffitte.

https://www.charlotteobserver.com/news/state/south-carolina/article257338287.html

Murdaugh acquired the land from Boulware’s wife, Jeannine Boulware, between 2013 and 2014. In a move similar to Barrett Boulware’s, Murdaugh transferred the property to his wife, Maggie Murdaugh, two years later.

Newspaper clippings from the 1980s show that Boulware and his father, also named Barrett Boulware, faced drug smuggling charges after authorities seized about 15 tons of marijuana aboard a shrimp boat near the Bahamas.

....

Yes and the charges against the father and son were dropped when that shrimp boat captain turned prosecution witness stepped out in front of a car and was killed. The charges were dropped on the the B-boys.

FitsNews has the jpegs of the articles about the Boulware men's arrest and more embedded in this article.

https://www.fitsnews.com/2021/09/25...ughs-ties-to-alleged-drug-smuggler-uncovered/

 

[MassGuy]

BREAKING: Judge Alison Lee ruled against Alex Murdaugh and his bulldog defense team, citing concerns about Murdaugh being a flight risk and a potential danger to himself and the community.

https://twitter.com/mandymatney/status/1483503479347945477?s=21

 

[sds71]

Alex Murdaugh will stay in jail for the foreseeable future. State Judge Alison Lee on Tuesday denied a motion by Murdaugh’s attorneys to sharply reduce Murdaugh’s bond from the current $7 million. “After considering all of the information provided, this Court finds that the current bond is reasonable to assure his appearance in court as defendant remains a flight risk and potential danger to himself and community,” wrote Judge Alison Renee Lee.

Read more at: https://www.thestate.com/news/local/crime/article257340657.html#storylink=cpy

 

[Elley Mae]

BREAKING: Judge Alison Lee ruled against Alex Murdaugh and his bulldog defense team, citing concerns about Murdaugh being a flight risk and a potential danger to himself and the community.

https://twitter.com/mandymatney/status/1483503479347945477?s=21

Wonerful news, I agree to flight risk & the potential danger to community.

 

[Chelly]

https://www.fitsnews.com/2022/01/18/judge-denies-alex-murdaughs-motion-for-bond-reduction/


FITSNews
MURDAUGHS
Judge Denies Alex Murdaugh’s Motion For Bond Reduction

Judge calls Alex Murdaugh a danger to the community.

Published

34 mins ago
on

January 18, 2022
By

Mandy Matney

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by LIZ FARRELL and MANDY MATNEY ||

Following a heated bond reduction hearing lsat Monday, Judge Alison Lee ruled against Alex Murdaugh and his “bulldog” defense team this week, citing concerns about Murdaugh being a flight risk and a potential danger to himself and the community.

Lee said that Alex Murdaugh’s bond “is reasonable to assure his appearance in court.”

This is the fifth failed attempt from Murdaugh’s attorneys Dick Harpootlian and Jim Griffin to get him out of jail since he was arrested in October.

The dramatic hearing included testimony from John T. Lay, who is one of the attorneys assigned to comb through Murdaugh’s frozen assets; Eric Bland and Justin Bamberg, attorneys for several alleged victims of Murdaugh; and a South Carolina Highway Patrol lieutenant who was injured in the line of duty and went to Murdaugh for help with a workman’s compensation claim.

During the hearing, Harpootlian told Lee — who has faced criticism for setting lenient bonds — to “do what she’s done.”

Harpootlian requested a five-figure bond for Murdaugh with the option to pay “up to 10 percent.”

 

[Megnut]

Alex Murdaugh will stay in jail for the foreseeable future. State Judge Alison Lee on Tuesday denied a motion by Murdaugh’s attorneys to sharply reduce Murdaugh’s bond from the current $7 million. “After considering all of the information provided, this Court finds that the current bond is reasonable to assure his appearance in court as defendant remains a flight risk and potential danger to himself and community,” wrote Judge Alison Renee Lee.

Read more at: https://www.thestate.com/news/local/crime/article257340657.html#storylink=cpy

I'd say he's been a danger to the community for a long, long, long time.

He's right where he belongs.

JMO

 

[MassGuy]

“This should be a clarion bell for Alex to realize that most likely he is going to remain in jail pending the trial of the charges that are asserted against him."
- Attorney Eric Bland.

https://twitter.com/mandymatney/status/1483517858927853568?s=21

 

[Chelly]

Pleased that Judge Lee, who has been know to set lenient bonds, did not buckle for AM