A Michigan man was charged in a criminal complaint for his alleged role in a scheme to obtain millions of dollars in investment funds in a phony real estate deal.
According to the complaint, Kenneth Bardwell is the operator of a company called “Motown Sports Group Holdings Inc.” and several related business entities. Through these entities, Bardwell has solicited and obtained millions of dollars from investors for a project involving the purported development of a multi-billion-dollar sports and entertainment complex in the Detroit suburb of Romulus, Michigan.
Bardwell represented to investors that their money would be used to purchase land and develop the project. He added that if the land could not be purchased, the money would be returned to investors from an escrow account.
According to the complaint, Bardwell has made almost no effort towards the purchase of the land to develop the project. He instead spent most of the investor funds on gentlemen’s clubs, luxury retail goods, rental cars, and lifestyle expenses for himself and his associates.
The complaint charges Bardwell with one count of wire fraud. US Attorney Jerome F. Gorgon Jr. noted that a complaint is only a charge and is not evidence of guilt, adding that a trial cannot be held on felony charges in a complaint. When the investigation is complete, Gorgon’s office will determine if a felony indictment will be sought.
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