Mortgage lender pleads not guilty to bankruptcy fraud - MSNewsNow.com - Jackson, MS

Mortgage lender pleads not guilty to bankruptcy fraud

William Dickson  (Source: Madison County Detention Center) William Dickson (Source: Madison County Detention Center)

A Jackson businessman appeared in federal court Tuesday accused of stealing millions in mortgage funds. William David "Butch" Dickson was reportedly captured out of the country and was shackled while answering to the charges.

The 57 year old entered a not guilty plea following an indictment on bankruptcy charges. He appeared before Magistrate Judge Keith Ball. Dickson operated Community Home Financial Services in Jackson.

Federal investigators accuse Dickson of illegally transferring more than $9 million dollars from bankruptcy escrow accounts to an account in Panama.

 Authorities say he wired the millions from the mortgage company's account after CHFS filed for Chapter 11 bankruptcy protection.

The indicted alleges that Dickson relocated his business to Panama and Costa Rico and instructed customers to submit their monthly mortgage payments to addresses in Las Vegas and Miami. Those payments were then re-shipped to Costa Rico to prevent the Bankruptcy court from acquiring the company income.

Dickson is charged with concealment of assets, bribery, fraud and swindling. He was arrested in Miami in March and is being held at the Madison County Detention Center.

His attorneys had no comment after leaving court.

The former financial lender's trial is set for June 2nd. Dickson wants to be freed on bond and returns to federal court Thursday for a detention hearing.

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