More creditors come after Michael Park

A group of families who lost millions with disgraced Brentwood investor file suit in bankruptcy court

Email | Print By Walker Duncan

Michael J. Park

More creditors has filed suit against former high-rolling financial advisor Michael Park in U.S. Bankruptcy Court for the Middle District of Tennessee.

The lawsuit was filed by a group of Williamson County families both individually and on behalf of their children, whose college savings evaporated in the scheme. Full details of the claims against Park can be found in the complaint attached here. All told, the plaintiffs in the complaint lost some $3.2 million.

The lawsuit also lobs accusations at Donna Jones, Park's bookkeeper for the entire life of his company, “who expressly and/or impliedly assisted and/or wrongfully benefited from the wrongful acts of Michael Park.”

The U.S. Attorney’s office recently indicted Park on three counts of mail fraud and one count of wire fraud. All told, the fallen investor is facing a sentence of up to 60 years.

Also mentioned during the press conference announcing the indictment was someone identified as "Individual A" who is said to have to have assisted Park in the scheme. At the time, U.S. Attorney Ed Yarbrough declined to respond when asked if “Individual A” indicted was because that person is working with prosecutors.

During the course of the scheme, 28 investors gave Park over $9 million that was never invested in any securities.

Filing the complaint on behalf of the families was Reid D. Leitner of Leitner, Williams, Dooley and Napolitan.