Supes Advisor Sued over Swap

On April 11, Roderick Mullice of Liberty Partners sued Hinds County Board of Supervisors adviser and Malachi Group CEO Porter Bingham for contempt in Fulton County, Ga. Mullice sued Bingham after he failed to appear for two post-judgment hearings over an unpaid contract.

On July 17, 2006, Fulton County Superior Judge Stephanie Manis ordered Bingham to pay Mullice $48,658.97 for consulting work Mullice performed for MARTA, Atlanta's public transportation system. After Bingham failed to appear at a post-judgment deposition on Nov. 21, 2006, Manis issued an order for Bingham to appear at a second deposition. Bingham did not show up at this deposition, either. "He did not pay a single dime," said Jason Godwin, Mullice's attorney. "He just never showed up or anything. I think that he has since moved on to Mississippi to governmental entities out there after dealing with governmental entities here."

As adviser to the Board of Supervisors, Bingham provides counsel on investment strategies intended to increase capital. At Monday's board meeting, the advisory team—including Bingham, Charlene Priester, Pernila Brown and the Rice Financial Group—presented an amendment to a swap they performed with money from the 2005 bond issuance. According to Bingham, the modification will "double the economics of the current transaction." He refused to comment on the lawsuit, however.

Board members voted to approve the modification, with Supervisor Peggy Calhoun dissenting. On March 3, supervisors green-lighted a swap agreement for the $30 million bond issuance, approved in December 2006. Combined with the $7.5 million bond issuance from 2005, the total amount invested totals $37.5 million, the maximum amount the board approved on Feb. 7, 2006. Supervisor Doug Anderson presented the original resolution, and also calculated the $30 million bond issuance in December.

"You're the first person to tell me that. I don't know if that affects us." Supervisor Charles Barbour said about the Georgia suit. "People get sued all the time."

Previous Comments


Another shady County story! And gee, it seems like all the same people are always around; like Charlene Priester. Ex- Melton foundation atty. Her husband is a Melton appointed Municipal Judge and she used to do lots of legal work for the County - just check the old minutes on-line.



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