$100 Million Alleged Loomis Real Estate Ponzi Scheme Continues to Haunt Brentwood Homeowners

[Jeremiah Peterson]

These guys must be crazy!!

Scott Edward Cavell and Christopher J. Warren are thought to have perpetrated a $100 million dollar Real Estate ponzi scheme under the leadership of alleged criminal master mind Lawrence Leland ‘Lee’ Loomis.

How did the scheme work?

FBI reports suggest that Loomis Wealth Solutions offered suspects a free $10,000 life insurance policy if they purchased shares of the companies stock. The company structured itself on several different ‘tiers of involvement’. The plan had a three step approach, “The three step plan involved the client purchasing property from Loomis and Loomis Wealth Solutions, Inc. and than allowing Loomis and Loomis Wealth Solutions, Inc. to control the property. The client was promised a monthly return plus half the sales price when the property was eventually sold.â€