Jay Spencer

Plainfield Township Supervisor ordered to pay $540,000 for diverted funds

July 23, 2015 // 0 Comments

By BETH ALTENA In an appeal ruling, Jay Spencer, Plainfield Township’s elected supervisor, was ordered to pay triple the amount of money he diverted from a client’s retirement IRA to a personal account and then spent on himself. In the 17th Circuit Court order of Case Number 13-04271-NZB, the Honorable Christopher P. Yates ruled that Spencer’s March 31. 2015 motion for reconsideration was denied. According to the court records, Spencer used accounts from two different business, Mackinac Realty and Mackinac Advisory, to transfer money, closing the first account when funds were depleted and then filing bankruptcy after the ruling against him. According to court records, plaintiff Jolan Jackson loaned Spencer $241,000 from Jackson’s retirement funds for the “acquisition and rehabbing of several homes” with terms set forth in a “Direction of Investment. A promisory note signed by Spencer June 21, 2011 obligated him to pay back $257,870 within 120 days. “What happened to Plaintiff Jackson’s money differed substantially from the plan Defendant Spencer laid out in his email on June 16, 2011, and confirmed in the promisory note. Specifically, Spencer diverted $180,000 of the funds through America’s One Title Agency to the account of his own company, i.e. Mackinac Realty, in June of 2011. . . bank records for Mackinac Realty Group LLC show wire transfers of $124,000 on June 21 and $56,000 on June 28. . . Spencer spent a substantial share of the money on his own personal expenses. In the end, Jackson never received a payoff on his promisory note. Spencer depleted the funds in the Mackinac Realty account and then closed that account. “ In the next paragraph the record said on November 13, 2013 Spencer filed for bankruptcy protection. On April 3, 2014 the United States Bankruptcy Court for the Western District of Michigan authorized Jackson to proceed against Spencer in the case. In a section titled “Legal Analysis,” the court found Spencer committed both Common Law Conversion, which is any distinct act of domain wrongfully exerted over another’s personal property in denial of or inconsistent with the rights therein (taking someone’s property) and Statutory Converstion, which is “converting property to the other person’s use (taking someone’s property for yourself). “Plaintiff Jackson asserts that Defendant Spencer engaged in all of […]

Plainfield Board narrows field to two

July 21, 2011 // 0 Comments

Twelve residents interested in serving township  In the vacancy left by Trustee Rebecca Borek’s resignation from the Plainfield Township Board, a field of twelve candidates has been narrowed to two and a vote on the appointee will take place at the August 2 regular meeting. Residents Ken Chester, Jim Idema, Kimberly Bryant, Jeanne Herlacher, Thomas Cable, Cynthia Vincent, Cathy Bottema, Gordan Oosterhouse, Ruth Karnes, Robert DeLand, Timothy Beals and Jay Spencer all applied for the position prior to the deadline. According to Trustee Vic Matthews, the board is required by law to fill the position within 45 days. After interviews beginning at 5 p.m. Monday, July 18, the board had narrowed their initial choice of four residents to two. Cathy Bottema and Gordan Oosterhouse are the two remaining candidates after Jay Spencer and Cynthia Vincent were eliminated from the final choices. “We had many very qualified candidates,” said Township Supervisor George Meek. He said the field of highly talented individuals made the choice very difficult. Borek resigned last month. Matthews called Borek a very intelligent and highly thought of person who has contributed much to the township during her years of service. “She will be missed,” he said. Matthews said Borek had sited personal reasons for her departure and had asked her resignation to be accepted on June 6. The board did not accept her resignation until June 20 to give them more time to find her replacement. “She is leaving on the best of terms,” Matthews stated.