November 15, 2007
BAMBERG, S.C.---The James Brown court battle continues today in Bamberg. Arguments over what happened to the money continue.
One of the former co-executors of the Brown estate is David Cannon. He testified today that even after he resigned on August 10, he still made adjustments to tax returns to the trust fund and estate after he resigned.
We know as of know that this affects the 2005 and 2006 returns.
Cannon claims he saved the estate $39 million, but he did it without telling anyone other than his attorneys that he was doing it.
Judge Jack Early says Cannon will pay for what he did, but he hasn't decided exactly what yet.
Meanwhile, Cannon has yet to pay $373,000 that he was ordered to pay in a previous hearing. Today he testified that he has not paid because he doesn't have enough money. Judge Early expressed shock upon learning that Cannon bought a house in Honduras and put $866,000 down in cash for construction, but can't afford to pay what the court ordered. Judge Early ordered an inventory of Cannon's assets, to be prepared within ten days.
Judge Early stated that if he finds out Cannon has a positive net worth, "I'm not going to be very sympathetic."