[Editor's Note: This story has been modified from its original version, as new information suggests Shelvin may have used the loan from IberiaBank to pay off the debt to EasyCare.]
District 3 Lafayette City-Parish Councilman Brandon Shelvin has not put his legal troubles behind him: IberiaBank, which holds the second mortgage on his home at 301 Monarch Drive, filed suit against him four days before Christmas, claiming he defaulted on a $41,000 loan in August.
While Shelvin’s financial troubles quieted down in the latter part of 2010, early in the year he faced mounting legal problems — much of which was already in the public record before IberiaBank granted him the loan Jan. 19. In a March 3, 2010, cover story, “The Problem with Brandon Shelvin,” The Independent Weekly reported on his questionable judgment, ethics, truthfulness and suitability to serve in public office amid his legal troubles, which dated back to May 2009, the most egregious being his pocketing customers' vehicle warranty money from a defunct used car company he once owned.
The warranty company, Atlanta-based EasyCare, did not receive from Shelvin money he collected from customers for extended warranties on approximately 20 vehicles purchased at Shelvin’s ThriftyWay Car Sales between July 2008 and February 2009, according to EasyCare’s records. Depending on factors like the vehicle’s make and model, mileage at time of purchase, term, coverage and deductible selected, the cost of the service contracts ranged from $700 to $1,800. “I have been working with Brandon Shelvin and IberiaBank who is the lienholder on the majority of those contracts,” Jan Larche, customer relations and training manager for Automobile Protection Corp., the parent company of EasyCare, told the paper at the time. “He’s in the process of making payment to us to resolve those issues,” added Larche, noting she had been in contact with Shelvin and the bank in the prior several months.
Minutes before the story on Shelvin’s financial problems hit the press, we were advised by EasyCare via e-mail that Shelvin had made good on the contracts. EasyCare received a wire transfer from Shelvin on the morning of March 2, 2010, and was paid in full. Larche declined to release how much her company was paid, and it remained unclear how someone so deep in debt managed to get his hands on what likely amounted to anywhere from $20,000 to almost $40,000 — the amount, perhaps not coincidentally, that he borrowed from IberiaBank.
IberiaBank declined comment for the March story, and its attorney, Craig Ryan, could not be reached this morning. GMAC Mortgage LLC holds the first mortgage on Shelvin's home at 301 Monarch Drive, which he purchased in his district in June 2007 for $85,000. (Lafayette’s city-parish charter requires that a candidate for the council live in the district for the seat he is seeking at least six months before qualifying for office. Shelvin qualified on Sept. 4, 2007, less than three months after purchasing the Monarch Drive home in District 3; he previously lived in District 2.)
When asked for comment on the December lawsuit this morning, Shelvin hung up his cell phone.
IberiaBank is seeking $36,514 in principal, plus $334 accrued interest through Dec. 2, 2010, plus interest on the principal since 2010 at the default rate of 21 percent per annum until paid, plus late payment charges in the amount of $467 and attorneys’ fees in an amount equal to 25 percent of the principal balance due under the note and court costs.
1,595 rigs were exploring for oil and 332 for gas. A year ago there were 1,738 active rigs.
Prestigious honor annually recognizes a single attorney for excellence in public interest/pro bono work.
JPMorgan Chase is giving $1 million to Louisiana's community and technical colleges, to help with workforce training efforts to match students to available jobs.
Law firm unveils newly renovated 200-year-old building.
UL grad named web developer at BBR Creative
Lafayette-based emergency department staffing and management company raises $120 million in senior credit facilities through GE Capital, Healthcare Financial Services.
High-rise apartment building, parking garage, hotel and retail part of new development.
The number of Louisianans with jobs continued to set records in September, but the state's unemployment rate kept rising.
Louisiana is drowning, quickly.
An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.
In late September Cleco and UL Lafayette showed off the Cleco Alternative Energy Center, where researchers explore ways to generate power by using renewable resources.
The most recent promotions, hirings and announcements from Acadiana's biz community.
While Amendments 1 and 2 will shield some health care providers from the budgetary whims of Gov. Jindal, they could make higher ed even more vulnerable to cuts.
Age 60 looks good on the country’s second-largest oil and gas show.
Local pieces and logo-emblazoned corporate gifts
Let’s show how much we care what it looks like.