Calvin Phelps – Tobacco Baron – $13,953,758.00

Posted on February 26, 2015 by Tom Paine 1 Comment

CALVIN PHELPS

In September 2010, Phelps was accused of making a fraudulent transfer of $8.1 million in assets from his companies over time. He used the money acquired from promissory notes to help buy Chinqua Penn Plantation in Rockingham County, two corporate jets, cigar-manufacturing equipment and a 2008 Maserati Quattroporte.

The Mocksville businessman and convicted felon was sentenced to a little more than three years in prison and ordered to pay $5.1 million in restitution during his sentencing hearing before a U.S. District Court judge in Mississippi.

One comment

  • Joel Godin says:

    I used to work with old Calvin. One day I did a bank shot with a cantaloupe rind against the wall into the waste basket. A little juice did stay on the wall.
    Calvin looked at me like I was some kind of hick. Which I was and still am.
    Calvin old buddy, if you’re reading this, I just want to say, you were right, I shouldn’t have bank shot that piece of cantaloupe, I should have gone for the direct shot. Swooshhh!

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