UPDATE: Jody Wade out of jail after allegedly attempting to remove and sell collateral items

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UPDATE: May 18, 2020 11:15 a.m.

A familiar face and Wichita Falls businessman Jody Wade is out of jail on his latest charges.

Wade was arrested Saturday afternoon at a hotel on Elmwood on a charge of hindering secured creditors.

According to the arrest affidavit, First Capital Bank is owed $684,000 of an almost $1 million dollar loan to Jody Wade Enterprises and was granted a restraining order preventing Wade from removing any collateral property from Big Daddy’s towing service on Armory Road.

It states that on Thursday a bank official learned Wade took a heavy-duty tow truck to a shop to have the bed cut off.

It also states two former employees told investigators Wade ordered them to move all vehicles out of the business to another location to have the beds cut off, and also to remove other property from the building.

A foreclosure sale was held on February 4 for Big Daddy’s and other Wade Properties.

The bank filed for and was granted an eviction notice on March 4 for Big Daddy’s after it reported Wade had failed to vacate all but one of his properties.

Wade had posted that District Attorney John Gillespie and others have targeted him and are responsible for his financial troubles.

WICHITA FALLS (KFDX/KJTL) — A Wichita Falls businessman is back in the Wichita County Jail this weekend.

Jody Wade has been charged with hinder secured creditors of property greater than $300,000.

Wade has a long history with the Wichita County Jail. This being his sixth arrest in less than a year.

As of 12:15 p.m. Sunday, jail records show Wade is still behind bars with bond recommended at $50,000.

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