Sep 18, 2014
Sep 4, 2014
Aug 28, 2014
Aug 21, 2014
Embattled financial adviser fights lien
The home of Frederick McMenimen in Exeter is among the assets being debated in his Chapter 7 claim in U.S. Bankruptcy Court. (JAMES A. KIMBLE/FILE)
BRENTWOOD - An Exeter financial adviser charged with stealing $1 million from two former clients is moving forward with efforts to upend an alleged victim's lien on his 3,700-square-foot home.
Frederick McMenimen wants a bankruptcy judge to nullify a $900,000 lien filed against him in superior court by one of his alleged victims, Victoria Wagstaff of North Hampton.
U.S. Bankruptcy Judge J. Michael Deasy has given McMenimen until Friday to submit whatever evidence he has to support his argument. Wagstaff will be able to submit evidence to rebut McMenimen's request on the same day, according to the judge's order. The matter will be taken up at a hearing in December. The hearing is among a number of court battles that began just before McMenimen's indictment by a federal grand jury in October. He faces a 31-count indictment charging him with money laundering, mail fraud and tax evasion.
McMenimen heads to trial in U.S. District Court the week of March 8.
Federal prosecutors said the two victims were financially unsophisticated and longtime family friends. The women believed they were entrusting their life savings to McMenimen for high-return investments, according to prosecutors.
At the time, McMenimen was a registered representative of Prudential. Prosecutors say Prudential has not been accused of any wrongdoing.
McMenimen allegedly used stolen funds to pay $140,000 on his home mortgage, $350,000 in personal credit card debt and $120,000 in tuition for private colleges and schools for his three children.
Wagstaff had filed a civil lawsuit against McMenimen in Rockingham County Superior Court in January, seeking to recoup her money. A judge approved a $900,000 lien on McMenimen's Exeter home, but the lawsuit was essentially brought to a halt two months later as a result of McMenimen filing for personal bankruptcy.
McMenimen is also trying to dodge another $1.4 million civil judgment awarded by a Massachusetts jury. In that case, a jury found that McMenimen defrauded his late uncle while selling him a life insurance policy. Defense lawyer Michael Feinman said in court papers that McMenimen is entitled to avoid the lien under state law. Feinman argued that a federal tax lien of $341,000, and two home mortgages already outweighs the fair market value of McMenimen's home. Feinman said the home - which is currently up for sale - is valued at $455,000.
READER COMMENTS: 0
- Police say man kills daughter, 6 grandchildren in Fla. murder-suicide - 0
- 2 men arrested in Manchester SWAT raid, drug bust - 3
- 2 women sentenced in Home Depot scam - 0
- Man accused of stabbing man in Concord's White Park - 0
- Friends, co-workers mourn loss of Amherst mother and son - 2
- Vermont father, two sons facing charges for Canobie Lake Park scuffle - 0
- Son used AK-47 to kill mother, then himself in Amherst home - 36
- Police arrest two following Portsmouth fight with hammer and knife - 0
- Mass. resident arrested on warrant tied to Pelham donation jar theft - 1
READER COMMENTS: 0
- Kuster, Shea-Porter split on arms for Syrians - 0
- Congress approves arming Syrian rebels, funding government - 0
- Study shows N.H.'s share of U.S. fouled air burden among smallest - 0
- Girl, grandmother escape fire in Rochester home with no detectors - 0
- Motorcyclist in serious condition after crash in Rochester - 0
- Dow, S&P 500 at records as rally continues - 0
- Ayotte pushes bill to combat 'spice' - 0
- Senate gives final passage to President Obama's plan for arming Syrian rebels - 0
- Manchester police officers to be honored for work in unresolved West Side stabbing death - 4
Casino gambles: Hopes dashed all over
Mark Hayward's City Matters: Dean Kamen is a genius inventor, and he's pretty good at oratory, too
- Mass. Supreme Judicial Court has found upskirt photos taken on a subway aren't illegal. Should such voyeurism be a crime?
- Total Votes: 917