By Patsy R. Brumfield/NEMS Daily Journal
BALDWYN – Booneville attorney Tommy Cadle is the new owner of former Stanford executive Laura Pendergest-Holt’s family home.
Cadle could not be reached for comment, but public records show the purchase.
Holt, a Baldwyn native, is expected to plead guilty today in Houston, Texas, to federal charges she obstructed the investigation of the Stanford financial empire by the U.S. Securities and Exchange Commission in early 2009.
A source close to the case says Holt, 38, agreed to plead guilty in exchange for a three-year prison sentence. The punishment for that crime ranges up to five years.
Booneville Realtor Travis Childers, a Cadle friend, said his agency sold the property “about a month ago,” but he declined to identify the buyer.
“It sold to an investor, somebody local,” said the former U.S. congressman.
Childers said the buyer may possibly lease the property. He also declined to report the sale price, but said it was substantially less than the property is worth.
The large, white country home just east of downtown Baldwyn has been vacant since shortly after Holt’s arrest and indictment. It is the highest valued property in the immediate residential neighborhood.
She reportedly invested some $300,000 in its renovation while she was Stanford’s top female executive as chief investment officer, working out of Memphis and Tupelo offices.
But soon after she pleaded not guilty to a 21-count federal indictment in 2009, she and her husband moved to North Carolina.
The Baldwyn house, which Holt basically gave back to the lender in April 2011, has stood vacant since her departure.
Prentiss County Chancery Clerk records show the home sold April 13 through the Federal Home Loan Mortgage Corp., known as Freddie Mac.