Man Convicted Of Scamming Investors Over Non-existing Disney Park
Fox News reports: A man from Texas was convicted for duping several investors with a Disney theme park that never existed.
A real estate dealer from Dallas, Thomas W. Lucas Jr. was convicted of total 7 counts of fraud and one count of lying to the FBI. The jury made the verdict in less than half the day.
Lucas (40) showed forged and fake sketches, plans and maps to the investors to convince them about a theme park being built. He named the park “Frontier Disney Dallas-Fort Worth”. Investors complained about paying too much for land close to the upcoming theme park. They had planned to flip these plots for profit as soon as Disney had announced the new park.
Limited liability companies, joint ventures and partnerships were ready to acquire the land. Investors were scammed out of $14 million. The now convicted felon had claimed to have a source confirming Disney’s plans to build their theme park in the area. Disney has denied all such claims.
Lucas was questioned about his source and he gave a dead man’s name to the FBI.
Harry “Beau” Lucas, Lucas’ uncle said that even though these land parcels sold by his nephew were superior investments in long-term, he also understand the anger of the investors who had been lied to.