We courthouse-watchers wondered when the first local lawsuits would come rolling out by people who claim they lost their life savings and/or retirements in the Stanford Financial debacle.

It's happened.

Walt Walton, 75, of Tupelo has sued former Stanford financial planner Neal Clement of Saltillo for more than $400,000 Walton says he invested with Clement, who allegedly never told him things were going into the toilet. He also wants punitive damages.

In fact, Walton claims Clement told him things were so great he'd invested $8 million of his own dad's money. The lawsuit, filed in Lee Chancery Court, also claims Clement failed to tell Walton he'd withdrawn his dad's money later on.

Of course, these are just allegations. Clement didn't answer a call to his home, and his Jackson attorneys haven't answered either.

Walton apparently had to go back to work, looking for used cars for area lots.

We'll see if anybody else comes out of the woodwork.

Keep readin' ... patsy