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 Court orders Tyson Rhame & James Shaw’s Cessna Jet Sold!

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RamblerNash
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PostSubject: Court orders Tyson Rhame & James Shaw’s Cessna Jet Sold!   Mon Dec 21, 2015 12:12 pm

Court orders Tyson Rhame & James Shaw’s Cessna Jet Sold!

Tyson Rhame and James Shaw’s multi-million dollar private jet, a Cessna Citation XLS airplane (serial number 560-5623) has been ordered sold by the court. The Federal Government’s case against Rhame and Shaw’s company is ongoing after the FBI Raid involving the US Marshall’s office and Brookhaven Police.



Photo Credit: Elliott Aviation, Inc

This is a 2006 Citation XLS located in Georgia with serial number 560-5623, and registration number of 562VP and 3075 hours. Similar planes I found (and I’m no expert) run about $5+ million. The exterior is overall Matterhorn White with Sunfast Red and Aristo Blue stripes. The interior has plush seating for seven passengers in a center-club configuration with six passenger seats and a forward side-facing seat. Overall beige scheme with cabinetry finished in quilted Maple High Gloss wood veneer with Antique Bronze plating. New carpet and seat leather installed June 2013.

So why is this happening? Read our page titled Criminal Investigation related to Sterling Currency Group. Judge Leigh Martin May’s order says the sale is to be divided up as follows:

  • $65,000 be paid to Elliott Aviation, Inc. for brokerage fees
  • $20,000 be paid to Jet Linx Aviation, LLC
  • $10,000 to be paid to HKS3 Holdings, LLC
  • $1,985,058 of the Rhame Proceeds be used to pay off Mr. Rhame’s debt owed to Wells Fargo with balance of the Rhame Proceeds be paid to the IOLTA Account of Neal & Wright, LLC
  • $1,395,239 of the Shaw Proceeds be used to pay off Mr. Shaw’s debt owed to Wells Fargo with balance of the Shaw Proceeds be paid to the IOLTA Account of Neal & Wright, LLC
  • any remaining amounts of the Rhame and Shaw Proceeds shall be distributed as subsequently ordered by this Court or shall be remitted to the United States Marshals Service.

That right there comes to $3,475,116. The consent order is shown below:

CONSENT ORDER FOR STIPULATED SALE OF PROPERTY (Civil Action No. 1:15-CV-2032-LMM ) Doc#201

This matter comes before the Court upon the consent of the United States of America and claimants Tyson Rhame and James Shaw, as sole principals of SR Equipment Leasing, LLC, for the stipulated sale of one Cessna Citation XLS airplane, Serial number 560-5623, (“Cessna Citation”) pursuant to the Court’s September 9, 2015 Order [Docket Number 147] in the above referenced action. It is stipulated that the proceeds of the sale, after reasonable transaction and other expenses specified below are paid, shall be distributed pursuant to this Order.

Mr. Rhame and Mr. Shaw represent to the Court that (i) the Cessna Citation is wholly owned by SR Equipment Leasing, LLC; (ii) Mr. Rhame and Mr. Shaw are the only principals of SR Equipment Leasing, LLC; (iii) they are in lawful possession of, and have good and marketable title to the Cessna Citation, free and clear of any liens, claims, encumbrances, or other impediments; and (iv) they have all requisite authority and full legal capacity to consummate the transactions contemplated by this Consent Order.

Accordingly, it appears to the Court that because the United States seeks forfeiture of only Mr. Rhame’s and Mr. Shaw’s interests in the Cessna Citation, it and/or Mr. Rhame and Mr. Shaw are the only potential claimants.

As such, it appears to the Court that all interested parties are in agreement that the stipulated sale of the Cessna Citation will be best for all concerned, with each party reserving its right against the proceeds of the sale, except as is set out below.

Accordingly, it is hereby:

1. ORDERED, that the Cessna Citation be sold by private, arms-length sale;

2. ORDERED, that the proceeds from the sale of the Cessna Citation (set forth in Item 1 above) be paid to Jet Stream Escrow and Title Company Inc., as Escrow Agent, (Republic Bank & Trust, Account Number XXX9185) and, following verification of receipt of funds, immediately distributed as follows:

a. $65,000 be paid to Elliott Aviation, Inc. for brokerage fees (US Bank, Account Number ##742);

b. $20,000 be paid to Jet Linx Aviation, LLC, $20,000 of which is being paid to cover the estimated wind down costs and expenses of the Cessna Citation (US Bank, Account Number XXXX00999003). Any amount not required by Jet Linx shall be remitted to the United States Marshals Service as required by Paragraph 4 below.

c. $10,000 to be paid to HKS3 Holdings, LLC for transaction fees. An additional $15,000 may be paid to HKS3 Holdings, LLC for legal and other closing costs if supporting documentation for these expenses is provided and agreed upon by the U.S. Attorney’s Office prior to the disbursement of such funds. These funds may be distributed to BB&T, Account Number XXX847.

3. ORDERED, that the remaining proceeds from the Purchase Price after the deductions set forth in Item 2 above, (collectively referred to as “Net Proceeds”) be distributed by Jet Stream Escrow and Title Company Inc. as follows:

a. $1,985,058 of the Rhame Proceeds be used to pay off Mr. Rhame’s debt owed to Wells Fargo for development of the apartment complex Yards at Noda (distributed to Wells Fargo Bank NA, Account Number XXXXXXX-4050720);

b. $1,395,239 of the Shaw Proceeds be used to pay off Mr. Shaw’s debt owed to Wells Fargo for development of the apartment complex Yards at Noda (distributed to Wells Fargo Bank NA, Account Number XXXXXXX-4050720);

c. The balance of the Shaw Proceeds be paid to the IOLTA Account of Neal & Wright, LLC to fund the completion of the home currently under construction on Lot Number JJ15 in the Alys Beach Development in Alys Beach, Florida (distributed to SunTrust Bank, Account Number XXXXXX7202682). Disbursement from this escrow account shall require subsequent and specific approval of the United States Marshals and the United States Attorney’s Office for the Northern District of Georgia prior to such disbursement by Neal & Wright, LLC.

d. The balance of the Rhame Proceeds be paid to the IOLTA Account of Neal & Wright, LLC to support the financing of Phase II section of the Yards of Noda apartment complex in Charlotte, North Carolina (distributed to SunTrust Bank, Account Number XXXXXX7202682). Disbursement from this escrow account shall require subsequent and specific approval of the United States Marshals and the United States Attorney’s Office for the Northern District of Georgia prior to such disbursement by Neal & Wright, LLC.

4. ORDERED, that any remaining amounts of the Rhame and Shaw Proceeds, above and beyond the amounts distributed in accordance with Paragraphs 2 and 3 above, shall be distributed as subsequently ordered by this Court or shall be remitted to the United States Marshals Service, via wire transfer or via cashier’s check mailed in care of the United States Attorney’s Office, ATTN: Thomas J. Krepp, 75 Spring Street, S.W., Suite 600, Atlanta, Georgia 30303, to be deposited into the United States Marshals Seized Asset Deposit Account, an interest bearing account, and shall remain in the account pending the outcome of the civil forfeiture action;

5.ORDERED, that Jet Stream Escrow and Title Company Inc., Mr. Rhame, and Mr. Shaw will provide to the United States Marshals reasonable requests for records related to the properties listed in this order, including but not limited to, payments related to this consent order of sale, additional accounting records, invoices, payments, rental receipts, and other financial records.

6.ORDERED, that all parties hereto shall be responsible for their own costs and attorneys’ fees incurred to effectuate the transactions contemplated herein.
IT IS SO ORDERED, this 3rd day of November, 2015.


PRESENTED BY:
/s/ Donald Samuel
DONALD F. SAMUEL
Counsel for James Shaw
Georgia Bar No. 624475
Garland, Samuel, & Loeb, P.C.
3151 Maple Drive, NE
Atlanta, GA 30305

JOHN A. HORN
United States Attorney

/s/ Thomas Krepp
THOMAS J. KREPP
Assistant United States Attorney
Georgia Bar No. 346781
600 U.S. Courthouse
75 Spring Street, S.W.
Atlanta, GA 30303
404-581-6000
Fax: 404-581-6181

/s/ Michael Brown
MICHAEL BROWN
Counsel for Tyson Rhame
Georgia Bar No. 088875
Alston & Bird
1201 West Peachtree Street
Atlanta, GA 30309


https://www.iraqidinar.org/court-orders-tyson-rhame-james-shaws-cessna-jet-sold/
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PostSubject: Re: Court orders Tyson Rhame & James Shaw’s Cessna Jet Sold!   Sat Jan 02, 2016 11:03 pm

So what's so great about Ty Rhame and James Shaw getting to sell their airplane to pay off debts on an Apt complex they own and were developing and a house? They win it sounds like on this one.
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PostSubject: Re: Court orders Tyson Rhame & James Shaw’s Cessna Jet Sold!   Sat Jan 02, 2016 11:34 pm

Except the Feds also seized them ....

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PostSubject: Re: Court orders Tyson Rhame & James Shaw’s Cessna Jet Sold!   Sun Jan 03, 2016 11:37 am

I'll give them the money and buy their airplane, just need to accept it payout in Iraqi dinar.  Am sure they could use the dinar as it will be rving any second, minute, hour, day, week, month or year.  That is how they bought the plane with all the bs and hype.
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