John S. Chapman & Associates LLC
Hoyt Block, Ste. 204
700 West St. Clair Ave.
Cleveland, Ohio 44113
Phone: 216-241-8172
866-220-3300
Fax: 216-241-8175
Email: Contact us
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Chapman & Associates, LLC Investigating the Resort Holdings/Universal Lease Fraud |
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In December 2006, the FBI arrested Resort Holdings and Yucatan Resorts owner Michael Eugene Kelly. He was charged with orchestrating a massive nationwide fraud estimated at about $400 million, with hundreds of victims. The victims, many of them senior citizens, were sold "Universal Lease Programs" that were supposed to give them a timeshare in one of Kelly's hotels and provide return payments of 9-11% annually.
In reality, the Universal Lease Programs were instruments of a Ponzi Scheme. Mr. Kelly used the investors' money to finance a lavish lifestyle that included mansions in Cancun, luxury yachts, sports cars and a private jet.
Securities regulators in several states have filed Cease and Desist Orders against Michael E. Kelly and his companies, Resort Holdings and Yucatan Resorts.
Chapman & Associates, LLC is preparing to help the aggrieved investors recover their losses by prosecuting claims before the National Association of Securities Dealers. If you were sold Universal Leases/timeshares in Resort Holdings, Yucatan Resorts, or any other of Mike Kelly's companies, contact us immediately.
Click here to read important statements and disclosures regarding this case.
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