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General News    H3'ed 11/9/11

CEO Makes Company Disappear In the Midst of Divorce Proceedings

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Message Roger Shuler

When the mortgage went unpaid, Sherry Rollins and her children were forced from their home. Mrs. Rollins fled to Alabama, where her two sons from a previous marriage were living.

Why would Ted Rollins disobey a court order that required him to make sure that Sherry Rollins' right to the "use, possession, and occupancy of the former marital residence" was to remain "undisturbed during the pendency of this action"? The original support order of $8,355 a month was reduced to $4,500 a month, so that must not have been the motive.

Perhaps the answer is found in a contempt order from a South Carolina judge, dated October 17, 2002. (See the full order at the end of this post.) Family Court Judge Robert N. Jenkins Sr. wrote:

I find that Defendant is 40 years of age and in good health. He is employed as President of St. James Capital, LLC, a real estate development company headquartered in Greenville, South Carolina. Defendant testified that the company is involved in a substantial project. Defendant is a graduate of Duke, with an MBA. He lives in his cousin's family compound in the guest house in Atlanta, Georgia, free of charge. He travels, sometimes on private jet aircraft. His family is extremely wealthy. Historically, this family included in their lifestyle funds and benefits provided by Defendant's family, which appear to be available when Defendant wants them for his needs but become unavailable when they are needed for Plaintiff.

Judge Jenkins gave Ted Rollins a pretty stern rebuke, making it clear he was not buying what Mr. Rollins was selling. In 2003, just a few months after this order was issued, Sherry Rollins was forced to flee from her home to Alabama.

By the time Ted Rollins got the divorce case shifted to Shelby County, Alabama, his economic circumstances had mysteriously changed. According to a sworn child-support document in Alabama, Ted Rollins' only income was the $50,000.04 he made working for Reynolds Mortgage Company of Brentwood, Tennessee. There was no mention of St. James Capital.

Ted Rollins's final alimony and child support obligations were based on his declared salary from Reynolds Mortgage, and that's why Sherry Rollins and her two daughters now qualify for food stamps in Alabama.

Under Alabama law, the following items are considered marital assets to be included in the property division of a divorce case:

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I live in Birmingham, Alabama, and work in higher education. I became interested in justice-related issues after experiencing gross judicial corruption in Alabama state courts. This corruption has a strong political component. The corrupt judges are (more...)
 
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