Illinois Man Scams Texas Investors Offering Huge Returns
Thomas R. Kolleck has solicited Texas investors from his home in Carthage, Illinois to invest in the development of rural land for camping sites and hunting, which will generate huge returns, according to the State of Texas Securities Board.
Through Kolleck’s company, AHT Camping Investments, he would solicit investments of $10,000 minimum to develop and lease rural real estate “in a manner that protects both the social and ecological environment of the property,” according to a June 24, 2011 Cease and Desist Order filed by Securities Commissioner Benette L. Zivley. Kolleck allegedly made promises that investors would get a guaranteed return of $20,000 on top of their original investment.
Not only did Mr. Kolleck fail to provide any information backing up the claims of the huge return, he also failed to disclose that he was not licensed to sell securities in Texas; the investments was not registered or; the fact that had filed for bankruptcy in 2010 and had three civil cases against him in Illinois.