Personal Injury Law

Christopher Jackson Not Alone In Sacramento Real Estate Fraud Schemes

By Moseley Collins, Esq.

The most recent high-profile real estate fraud case in the Sacramento area involves Christopher Jackson and his company, Genesis Innovations. But in 2009, a Roseville man was charged with defrauding investors in a similar scheme.

An FBI agent investigating a suspected $100 million real estate Ponzi scheme said the man at the center of the probe admitted deceiving his investors. Lawrence Leland "Lee" Loomis, 52, is the founder of Loomis Wealth Solutions and several related companies that the FBI and IRS believe defrauded hundreds of investors and lenders in a multi-layered investment scheme.
Among the allegations is that Loomis lulled investors in his NARAS fund into thinking their money was safe by sending them false statements indicating a steadily-increasing balance. Loomis' literature promised a 12% annual return.

For more information you are welcome to contact Sacramento personal injury lawyer, Moseley Collins. I represent a plaintiff in the real estate fraud case filed recently in Sacramento superior court against Christopher Jackson and Genesis Innovations.

FBI special agent Kathleen Nicolls said Loomis admitted the NARAS statements were false during an interview on August 15, 2009, eleven days before federal agents searched his Roseville offices and Granite Bay home. Agents hauled away hundreds of boxes of documents and dozens of computers.

The revelation came in a civil complaint filed in Sacramento federal court seeking to liquidate $462,300 in cash seized by court order last summer from two Washington Mutual bank accounts controlled by Loomis. The civil complaint sets the stage for a possible criminal indictment.

Full post as published by Sacramento Injury Lawyer Blog on November 20, 2010 (boomark / email).