RN-T.com – Local attorney testifies he trusted Mathis lost 31 000 in dealings with the former chief magistrate

Attorney Wade Hoyt IV said he invested about $31,000 in a cattle deal offered by former Chief Magistrate Chris Mathis.

Hoyt told jurors Tuesday he’s recouped nothing.

“The bottom line was, I trusted him. Period,” Hoyt added.

Hoyt testified on the second day of the theft and fraud trial against Mathis, as did several others who said they also invested thousands in what prosecutors call a Ponzi scheme.

Mathis, 48, faces 52 charges, which include multiple counts of theft by taking, theft by conversion and deposit account fraud. He faces decades behind bars if convicted.

Cobb County Superior Court Judge Grant Brantley is hearing the case. The trial is scheduled to resume this morning in Floyd County Superior Court.

Prosecutors argued Monday that Mathis’ financial troubles stemmed from the 2006 purchase of a farm from Louise Watters. She testified Tuesday, telling jurors his payment checks bounced. Mathis then had to provide additional checks.

via RN-T.com – Local attorney testifies he trusted Mathis lost 31 000 in dealings with the former chief magistrate.