A federal judge has approved new bond conditions for John Coleman, allowing the former Express Grain president to live at his residence in Alabama and travel to court appearances in Mississippi.
The request was filed last week by Coleman’s attorney, John Colette.
“Recently, circumstances have changed,” the motion said, “and your defendant requests he be allowed to live with his wife and family, and work in Alabama with travel to Mississippi, for work-related and Court appearances only.”
With no objection filed, an order of approval was signed by federal Judge Michael P. Mills.
Coleman has been indicted by a federal grand jury on six counts of wire fraud. He has also been indicted by a Leflore County grand jury of five counts of making false representations to a government entity and one count of false pretense.
The charges relate to accusations that Coleman defrauded farmers, state regulators and Express Grain’s largest creditor, UMB Bank.
Following the company’s bankruptcy, it was revealed that it owed more than $200 million to various parties.
Coleman has pleaded not guilty. Court documents show that he now resides in Fairhope, Alabama, about 80 miles east of Biloxi. He sold his Greenwood home on Robert E. Lee Drive earlier this year in an effort to pay off creditors in his own bankruptcy case.
A court-appointed examiner of Coleman’s available finances found no instances of fraud, according to a report submitted in November.
UMB Bank is still holding Coleman responsible for the more than $70 million in financing it lent to Express Grain and that the company failed to pay back.
Thanks to a default judgment approved by the bankruptcy court, Coleman’s bankruptcy will not result in a discharge of that debt.
- Contact Kevin Edwards at 662-581-7233 or kedwards@gwcommonwealth.com.
