NEWS

W/R: Deal struck over seized silver bars, coins

Douglas Walker, and Keith Roysdon
The Star Press
Douglas Walker, Keith Roysdon

More than a year after authorities conducted a massive search of a northern Delaware County property and seized – among other things – 458 silver bars, those assets have been liquidated and the resulting cash divided.

Some might be surprised where that money – more than $345,000 raised from the sale of the silver bars, and collectible coins seized from the same property – ended up.

According to warrants, authorities were looking for human remains when they searched 140 acres in the 18700 block of North Wheeling Avenue over three days in early November 2015.

An informant had told Muncie police that James “Buddy” Reynolds, former owner of the land, had several years earlier fatally shot an associate and buried his body there.

No remains were found, but authorities maintained some of what they did discover – including the silver bars and coins – were part of the profits Reynolds, who died in Panama in 2012, made by operating a “marijuana distribution empire” on the Delaware County property.

Local authorities seized 458 silver bars, along with thousands of dollars in coins, when they searched a northern Delaware County property in November 2015.

Last May, attorney Dan Gibson filed a forfeiture lawsuit on behalf of Delaware County Prosecutor Jeffrey Arnold, seeking ownership of the silver bars and coins.

Earlier this year, Gibson negotiated a settlement with attorney Mark McKinney, who represented the relatives of Reynolds who now own that property along Wheeling.

Under the terms of that deal – approved by Delaware Circuit Court 1 Judge Marianne Vorhees – the couple that owns the land received $14,433, and $48,900 was placed in trust for their children.

McKinney’s law firm, McKinney & Malapit, received $31,667 in legal fees.

On the other side of the bargaining table, the prosecutor’s office and the Muncie Police Department each received payments of $93,801.

Those forfeiture profits can only be used for expenses outlined in the agreement, including special training for officers, victim assistance efforts and office equipment.

Authorities spent parts of three days conducting a massive search over 140 acres in northern Delaware County in November 2015.

“Expenses incurred in criminal investigations,” and programs “intended to reduce or prevent criminal activity” are also eligible for funding.

And attorney Gibson’s law firm, Delk McNally, received $62,534 for his handling of the forfeiture proceedings.

The agreement said the costs incurred by “local law enforcement agencies in pursing the decades-long investigation and resulting execution of the search warrant” were “in excess” of the $187,602 divided between the prosecutor’s office and MPD.

A boaring spa day

Janet Holcomb, a former Muncie resident and current first lady of Indiana, spoke at last week's Vision 2021 program held by the Muncie-Delaware County Economic Development Alliance.

After Holcomb spoke, she sat down with EDA figures Jud Fisher — her brother-in-law — and Jeff Daniels to answer questions in front of the audience.

Fisher asked Holcomb to talk about her interest in firearms and self-defense, which she said began when her home was broken into several years ago. Fisher noted that Holcomb is now a National Rifle Association-certified firearms instructor.

Holcomb said that she and a friend take a once-a-year trip to Texas to hunt wild hogs from a helicopter. They've bagged 70 hogs so far.

"We call it our spa day," Holcomb said.

Fisher told the crowd that the hogs are considered an invasive species in Texas and are "moving this way."

Contact Douglas Walker at 765-213-5851 and dwalker@muncie.gannett.com. Contact Keith Roysdon at 765-213-5828 and kroysdon@muncie.gannett.com.