Tap,Tap,Tap, Dot,Dot,Dot, Part 7

It appears that William H. Thomas the man behind the alleged payoffs of Rickey Peete And Edmund Ford, And Joe Cooper, have worked on other projects where Cooper stuck a knife in the back of someone who trusted him. It also appears that Cooper has also bragged in the past of being able to get property rezoned to satisfy himself and Thomas.

A poster to this blog brought to my attention a lawsuit that was filed that proves this to be true. In Chancery Court case# CH-06-1229-1, tells a tale of lies,deceit,backstabbing, and depriving one of money earned for services rendered. And it all takes place by the hands of Joe cooper and William H.Thomas Jr.

About March,2005 Joe Cooper approached Waymon"Jackie" Welch owner of Welch Realty Company whose name will appear on most political campaign financial disclosures,about the possibility of Welch Realty procuring First Source Partners and First Capital Bank to purchase two adjacent lots at 867 Reddoch here in Memphis.

First Source operates First capital a TN. Corporation in the business of banking.Cooper proposed that the two lots would provide a prime location for a bank branch.Cooper further stated that although the lots were at the time zoned residential he believed he could successfully secure the rezoning of the lots as commercial properties.(How Do You Think He Was Going To Do That?) The lots were also subject to the Arlington Park Protective Covenants,which further precluded the erection of a commercial property on the lots. Cooper assured Welch that he could get the covenants amended.

On or about March23,2005,Welch agreed to procure First Source as a purchaser for the lots. In exchange,Cooper and Welch agreed that Welch would be paid a 6% commission for procuring First Source Partners as a purchaser. Welch and Cooper executed a sales contract for the two lots for $900,000. The seller in the two lot agreement is identified as "Joe Cooper" and or his assigns.

The two lot agreement sealed the Commission Agreement as follows: Seller agrees to pay Welch Realty Company a commission of 6% of the sale price. Unless otherwise specified herein such commission shall be paid in cash out of the net proceeds of the sale at time of closing this transaction.

The contract came with provisions such as the seller obtaining approval of the majority of the homeowners in Arlington Park Subdivision for an amendment of it's convenants. It also stated that the seller would obtain zoning for a full service bank,with double drive-through.

At the time the two lot agreement was signed,Coope did not own the lots, but had the property under a contract that would allow him to purchase the property for $500,000.00. Cooper did not have the money to purchase the lots,Nevertheless with a commitment from First Source Captial to pay $900,000,00 for the lots,Cooper was able to secure a source for the acquisition and sale of the lots. The source was William H.Thomas.

Get ready for the knife. Cooper and Thomas ultimately were able to secure only one of the lots. Cooper again approached Welch Realty assuring Welch that the bank could successfully operate the planned bank branch on the one lot. Welch as broker ensured that First Source/First Capital remained ready,willing,and able to perform on the same terms as the two lot agreement,except for the fact that the second lot would no longer be apart of the deal,and there would be a corresponding reduction of $100,000.00. Welch prepared and delivered to Cooper an agreement(The One Lot Agreement) indentical to the two lot agreement including the 6% commission provision agreement.

Subsequently,Cooper approached Kent Davis the president of First capital with a written agreement for the sale of the lot (The Cooper-First Capital Agreement). Cooper assured Davis that his agreement contained the same terms as the One Lot agreement. Neither Welch or his company was a party to the Cooper-First Capital Agreement. In his agreement Cooper fail to memorialize Cooper's agreement to pay the 6% commission to Welch or Welch Realty.

William Thomas sold the lot to First capital on April,2006, At closing Welch got welched. He didn't get one red cent from Cooper or Thomas. So Welch is presently suing Both Thomas and Joe Cooper. This serves to prove that Cooper and Thomas have worked together in the past and cheated those that they were doing business with, So do we have a repeat performance with Cooper and his purchasing the influence of council members?

The rezoning of the property did take place as Cooper wanted,even the closing of a street despite the outcry from those who lived in the area. Did Cooper for Thomas purchase votes for this project? I found it strange today when I visited city hall to find out about this project,that the file was already in the hands of Alan Wade the Council's attorney. There is something mighty fishy about what going on in City hall when it comes to William H.Thomas. I still must ask If Rickey and Edmund are guilty of selling influence to Cooper and Thomas,Isn't Thomas guilty of trying to buy their influence?