Eight-liner gambling part of big, global business

Campaign treasurer a former officer
at local multinational real estate company

Waco - The campaign treasurer for Chief Deputy Randy Plemons, a candidate for McLennan County Sheriff, and former treasurer for “Buddy” Skeen, the embattled Tax Assessor-Collector facing a felony indictment for discrepancies in tax accounts, is a financier who was formerly associated with First City Financial Corporation.

A multinational, global packager of distressed or unproductive real properties that seeks resolution and disposal, foreclosures and refinancing of properties throughout the Americas, the company has world headquarters at 6400 Imperial Dr., Waco.

The corporation's stock is traded on the NASDAQ exchange (FCFC).

During his association with First City, Mr. J.R. “Jim” Hawkins did business under his present corporate name, Jayhawk 1, according to a source at the company who did not identify herself. Though the two companies were merged, officers of First City had a majority vote on the board of the operation during their time of affiliation. Mr. Hawkins later left his associaation with FCFC to go back in business at a separate location in the 3500 block of Lake Shore Dr.

In previous years, Mr. Hawkins has taken liens on buildings in several central Texas counties to assist operators of gaming parlors to buy eight-liner electonic gaming devices and has loaned as much as a half-million in cash for start-up capital.

When lawmen raided the establishments and obtained convictions for illegal gaming, they entered suit for the forfeiture of the property and the gaming machines. On at least one occasion, Mr. Hawkins was able to intervene in the suit and obtain control of the property, then sold it to satisfy the liens he held.

An on-line information entry about First City Financial Corporation describes its corporate mission in this way.

“FirstCity Financial Corporation (FirstCity) is a specialty financial services company. The Company engages in two business segments: Portfolio Asset Acquisition and Resolution, and Special Situations Platform. In the Portfolio Asset Acquisition and Resolution business, the Company acquires portfolios of performing and non-performing loans and other assets, at a discount to their legal principal balances or appraised values, and services and resolves these assets. Through its Special Situations Platform business, the Company provides investment capital to privately-held, middle-market companies through flexible capital structuring arrangements to generate a risk-adjusted return. These capital investments primarily take the form of senior and junior financing arrangements, but also include direct equity investments and common equity warrants.”