When the paper trail gets furry
Chinchillas & Checkbooks: Part Two – The Paper Trail Gets Furry
Please note that these are my notes and I am not an attorney nor CPA. I am open to corrections. I did reach out to Mr. Thompson but never received a reply.
If you read my last post, you already know I found that Michael Thompson publicly claims ownership/involvement with two bail bond businesses, but his name does not appear on the legal documents for either one. Instead, you’ll find Teresa Rachal on the listings.
Here is what I found when I kept digging.
There Was a License. It Was Revoked.
Using the Louisiana Department of Insurance’s public regulatory actions database, I found a formal Notice of Revocation issued in December 2022 against Jacquez Rachal, Teresa Rachal’s son. He operated out of the same 2 Cypress Drive address as her bail bond businesses.
According to that public document, about 75 days after receiving his bail bond license in 2018, he was involved in a fugitive apprehension in Monroe where a man was shot in the leg and required emergency surgery. He was arrested on two felony charges and later pleaded guilty in 2022. The document also states that he failed to report his conviction to the state as required by law. His license was officially revoked on December 5, 2022.
This means that, based on public records, he held an active license for roughly four years while criminal charges were pending.
A Nonprofit With No Financial Trail
Public records show an organization called the Edward Mitchell Foundation, a Monroe-based 501(c)(3). Listed officers include Teresa Rachal, Jacquez Rachal, and another individual connected to this network.
According to ProPublica’s nonprofit database, the organization no longer appears on the IRS’s current list of tax-exempt entities, and there are no financial filings available.
I am not saying that means anything improper happened. Organizations can lose tax-exempt status for many reasons. I am simply pointing out that the public record does not show the kind of financial activity you would normally expect from an active nonprofit.
Six People. 37 Days. $270,738.
This is the part I want to approach carefully because it involves a federal program.
Using public federal databases, including ProPublica’s PPP tracker and PandemicOversight, I found that six individuals connected to this investigation received PPP loans within a 37-day period in the spring of 2021.
Receiving a PPP loan is not illegal. Many people did. What stands out in the records is this:
Based on my review of Louisiana Secretary of State records, I could not find businesses registered to these individuals that match the industries listed on their applications.
Teresa Rachal and LaTrial Thompson, who are connected through the same bail bond network, both listed the exact same industry, “Beauty Salons,” on applications submitted through different lenders.
Four of the six applications were processed through the same lender within a 13-day window.
Edward Mitchell’s loan, totaling $173,690, was marked as charged off, which means it was not repaid according to public records.
I am not making any legal conclusions. I am simply sharing what the records show and where they raise questions that I am not qualified to answer.
Why It Matters
When a public official’s name is tied to businesses, associates, and financial records that raise this many unanswered questions, I believe the community has a right to see what the public records show.
I may have missed something. There may be explanations I am not aware of. If that is the case, I am open to hearing them.
Sources: Louisiana Secretary of State, Louisiana Department of Insurance, ProPublica PPP Tracker, PandemicOversight.gov, ProPublica Nonprofit Explorer
Nothing in this post is a legal conclusion or an accusation of criminal conduct. This is based entirely on public records available at the time of publication. Readers are encouraged to do their own research and form their own opinions based on such.
