Real Estate Developtment Group awarded nearly $7-million in alleged Wilson Bank and Trust fraud case

Kendall S Howell, Winfred Howell, Richmond’s Retreat, LLC, Stones River Homes, Inc. have been awarded a total of $3.9 million. The Real Estate Developtment Group was awarded the money after three weeks of testimony in a Rutherford County Chancery Courtroom. The jurors agreed that the group was the victim of fraud at the hands of Wilson Bank & Trust because of the alleged actions of Stan Hayes a former president of a local branch.

In 2009, the development group sued the bank for $15 million. They claimed that Hayes, the branch president of a Murfreesboro office, committed fraud. Hayes is accused of forging documents with customers’ signatures and improperly moving money from one account to another. Hayes was the president of the bank between 2004 and 2008.

On Thursday an additional $3.6-million was awarded to Howell in punitive damages. That makes for a total of nearly $7-million. 

Source:

Rutherford County Chancery Court

Civil Court Docket

Civil Court Docket

Civil Court Docket

Civil Court Docket