Topic: H-D: Witnesses share mixed reactions about verdict

[biggreenarms]

ATHENS, Ga. -- Reactions were mixed to Friday's acquittal of Jim Donnan, although three witnesses interviewed afterward expressed surprise that jurors found the former Marshall University coach not guilty on each count of the lengthy indictment.

It involved 41 charges, including conspiracy, mail fraud, wire fraud, securities fraud and money laundering, in relation to Donnan's recruiting of more than $81 million for GLC Limited, a Huntington liquidations company whose bankruptcy left investors with a loss of nearly $23 million. Prosecutors referred to the company as a Ponzi scheme.

Huntington native Dan Shoemaker and Athens, Ga., resident weenie Bestwick both testified as to losses they suffered in GLC, and Friday applauded the jury's acquittal.

Bestwick lost $40,000 on a $100,000 investment. His career includes a very brief stint as Marshall's football coach immediately after a Nov. 14, 1970, plane crash killed 75 coaches, players, supporters and crew. Later he helped Donnan land coaching jobs at Marshall and Georgia.

"I think it's super," he said of the verdict. "I'm glad that's the way it came out ... I thought he was stupid for getting involved in it, but I don't think it was anything he deliberately tried to do to hurt people."

Shoemaker, a former ESPN vice president and now deputy athletic director at College of Charleston in South Carolina, shared a similar belief. He testified to having put Donnan and convicted GLC founder Greg Crabtree in touch with each other. He thought it was powerful how multiple GLC victims testified they still considered Donnan their friend.

"In my mind the overriding sentiment is that nobody who really knew Jim believed he ever intended to set out and defraud anybody," he said.

"Anytime someone is charged with 41 counts, to be found not guilty on every count is a surprise," Shoemaker added. "I've got to think that's an unusual occurrence, but Jim's an unusual guy."

Jim Burritt, the man who investors hired to restructure the company in late 2010, did not share the others' enthusiasm, although he tempered his comments with a deep respect for the jury's verdict.

"I'm not happy, I'm not distraught," he said. "I haven't really had a lot of time this afternoon to sit and kind of reflect."

Burritt, of Tennessee, became among the first investigators into GLC's demise. He testified as to handwritten notes and emails from Donnan indicating his belief the former coach was more involved than a simple investor. He said Friday those documents, as well as his testimony, speak for themselves.

"I believe in our justice system," he said. "This is the way our system works. There were 12 people there that worked hard, I'm sure they wrestled with all of these things and as you say, they didn't feel the government proved their case or that there was a smoking gun. I may feel differently than them, but it doesn't change anything."

Burritt, whose initial thoughts Friday were of some investors who lost much more than they could afford, said the verdict will have no impact on GLC's ongoing Chapter 11 bankruptcy case in Cincinnati.

GLC confirmed its liquidation plan on Oct. 29, 2011, but efforts continue to recoup money from investors who received substantial profits from their investments in the scheme. Two lawsuits remain in that process, both of which he hopes to resolve in the next few months and clearing the way to closing out the bankruptcy.
Follow reporter Curtis Johnson at Facebook.com/curtisjohnsonHD and via Twitter @curtisjohnsonHD.

http://www.herald-dispatch.com/news/x1315750093/Witnesses-share-mixed-reactions-about-verdict

[luvherd]

Glad it turned out good for Jim. Also, I have a lot of respect for Dshoe; however, somewhat shocked he hooked Jim up with Crabtree. I personally never met Crabtree but before all this came out I was told by many Huntington area residents Crabtree was a sleazy crook. If Dshoe wants to share his side it is his right but not an obligation.

[dshoe]

Glad it turned out good for Jim. Also, I have a lot of respect for Dshoe; however, somewhat shocked he hooked Jim up with Crabtree. I personally never met Crabtree but before all this came out I was told by many Huntington area residents Crabtree was a sleazy crook. If Dshoe wants to share his side it is his right but not an obligation.

I've shared it many times, including most recently on the witness stand.  I only gave them each others number and suggested they talk.  What came after that, I had no role in.  No point in me re-hashing what is now very public knowledge. 

[backontrack]

"resident weenie"...WTF???...