UPDATE: B&G Goods William Lambert makes it four EDA arrests on August 23

William “Billy” Waco Lambert. Photo courtesy of RSW Jail.

When it rains it pours – and it is raining in Economic Development Authority criminal indictment world this Friday, August 23. Former B&G Goods co-owner and registered agent William “Billy” Waco Lambert made it four people arrested, so far, today on sealed indictments handed down by the Warren County investigating criminality related to the EDA financial fraud investigation.

Lambert, believed to be a former fiancé of a McDonald sister, was booked at RSW Jail at 7:36 p.m. Friday evening. He is charged with two felony counts of Fraud – Obtain Money by False Pretenses and one count of Money Laundering – Financial Transaction, proceeds from known felony activity. Those charges are identical to the three Jennifer McDonald’s husband “Sammy” North was booked on just over two hours earlier, though whether they are directly or indirectly related is unknown.

Like others arrested Friday Lambert is thus far being held without bond pending a hearing date.

B&G Goods was the first business the EDA set up with a small business loan in the now-controversially purchased old Stokes Mart building at 504 East Main Street. The aftermath of selling off business assets following its November 2016 closing and investing in the business appears to be at the root of charges against former EDA Administrative Assistant Michelle “Missy” Henry.

There is a seven-page section devoted to B&G Goods/Stokes Mart in the Cherry Bekaert financial fraud working papers summary.

It also appears that from how new indictments are being posted in the North, Poe and Lambert bookings at RSW Jail that Jennifer McDonald may be facing 14 new indictments today on top of the 14 she had already been arrested and released on bond on.

This developing story will be updated or augmented by additional stories as information becomes available.

McDonald, husband, Poe booked into RSW Jail Friday afternoon, August 23