An attorney representing former THR and Associates employees and creditors wants Jeff Parsons to pony up — immediately.
Attorney Doug Quivey suggested Parsons pay $1.2 million immediately, then $100,000 every first of the month to start paying down a more than $12 million dollar judgement he owes.
“He’s not going to get that, I don’t have any money,” Parsons told WTAX after Wednesday’s hearing, the third hearing held to try determining what, if any, assets Parsons has to start paying back hundreds of former employees and creditors.
“If the judge was to enter some order and force me to pay that, I’d have to figure out how to appeal that. I don’t have that money.”
THR and Associates went bankrupt, as did Parsons personally, in 2012 — leaving hundreds without jobs and precious metals sellers with bounced checks.
He’s been operating a buy-sell-trade business in Texas known as NCCA, which stands for National Coin Collectors Association, since February 2014 that’s been running only with financial help from a Springfield metals dealer, Steve Mileham, who’s been advancing Parsons money to run the business.
Quivey suggested the estimated $200,000 Mileham is advancing Parsons monthly is only done so Parsons doesn’t have any of his own money on the books, an allegation Parsons denies.
Parsons owes Mileham more than $250,000, but Parsons says the plan is to eventually become profitable again.
A federal judge will soon issue a written ruling on the matter.
Listen to the full interview with Parsons by clicking play on the audio link below.