Soddy-Daisy tax preparer Jack E. BrownA trustee was appointed today in U.S. Bankruptcy Court in Chattanooga for the Brown’s Tax Service case, in which millions of dollars invested by Soddy-Daisy retirees are alleged to be missing.
Chattanooga attorney Jerry Farrinash, former trustee for ex-auto dealer Joe Prebul, is tasked with accumulating and taking possession of Soddy-Daisy tax preparer Jack E. Brown’s remaining assets.
Former customers of Brown’s Tax Service have accused him of running away with millions of dollars in savings that he had promised to invest on their behalf with returns of up to 15 percent.
Brown has between 21 and 30 days to contest the involuntary bankruptcy petition, which was filed by Dayton attorney Rebecca Hicks on behalf of eight clients.
All together, Hicks’ clients have lost $1.27 million to a man who friends describe as a “day trader.”