A Memphis property manager is accused of quietly rerouting tenant rent money into his own pocket, and now he is sitting in the Shelby County Jail.
Police arrested 33-year-old Lidarius Townsend on Wednesday after his employer, Reedy & Company, reported that more than $37,000 in rent payments had gone missing. Townsend was booked on felony property-theft and falsifying financial-statements charges, according to investigators.
An executive at Reedy & Company contacted Memphis police after spotting suspicious changes in rent ledgers and deposits that never hit the company accounts. Detectives say Townsend took rent directly from tenants through Cash App, then altered company records to hide the transfers. The arrest affidavit puts the shortfall at exactly $37,191.07 and states that Townsend admitted to taking the money, as reported by Action News 5.
Reedy’s role and payment channels
Reedy & Company manages a large portfolio of rental properties across Memphis and publishes its official payment options and contact information on its website, Reedy & Company. The firm has also drawn scrutiny in the past for its eviction and rent-collection practices, as detailed by MLK50.
Previous arrest and court timeline
Shelby County court records show Townsend was arrested in June 2024 on felony property-theft and forgery charges that prosecutors later dropped. In the current case, he is being held on a $10,000 bond and is set to appear in court Friday morning, according to Action News 5.
What the charges carry
Under Tennessee law, theft of property valued between $10,000 and $60,000 is a Class C felony that can carry three to 15 years in prison, along with potential fines, according to the state theft statute summarized by Justia. Making false entries in financial books and records can be prosecuted under the state forgery provisions, which are tied into the same grading scheme for theft-related offenses, as outlined by Justia.
What tenants should check
Tenants who paid rent to Townsend directly, especially through peer-to-peer apps like Cash App, are urged to look back over their transaction histories, save any receipts or screenshots, and contact Reedy & Company’s leasing or accounting staff to confirm how those payments were recorded. The company lists its official rent-payment channels and contact information for tenants on the Reedy & Company website…