Education

Attorney: Investors likely to be 'unhappy' with results of Parish investigation

CHARLESTON — The attorney taking inventory of the possessions of former Charleston Southern University economist Al Parish warned the investors who entrusted him with millions that an unhappy ending is likely.

Parish, 49, is in jail on a federal criminal charge that the flamboyant professor lied to federal regulators about hundreds of millions of dollars in missing investments.

Atlanta attorney J. David Dantzler Jr. told U.S. District Judge David Norton during a Friday hearing he has been through Parish’s Summerville home and found a vast array of artwork, jewels, automobiles and collectibles.

"It's going to take months or years to figure out what's there, what it's worth and to figure out what can be sold,” Dantzler said.

“It's very unlikely there is going to be a happy ending for anybody”

Dantzler said Friday Parish had been telling investors in December 2006 the fund he managed was worth $523 million. Dantzler said the funds had $276,000.

Dantzler said 599 individual investors had given Parish money to invested in a series of securities, works of art and jewelry.

Among the items recovered so far:

  • 11 paintings of clowns by the late comedian Red Skelton that were found in Parish’s Mt. Pleasant office
  • Six cars, including a Mercedes, a Sprinter van, two Lexus vehicles and two Jaguars.
  • A $3 million chess set, which was found in a kid's room sitting among children's toys and books in Parish's Summerville home.
  • Parish, who has been hospitalized with memory loss, is being held without bond.

    His family has been cooperative, Dantzler said.

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