Gary Crown
Railroad mortgage backed bonds fraud?
- 04-08-2009
- 24
A friend contacted me about a man named Gary Crown operating out of Yakima Washington. Crown is telling people that he purchased massive amounts of railroad bonds dating between 1856-1864 and that he discovered some of those bonds were real and of extreme value.
He is claiming that he had the bonds appraised and they are worth nearly one billion dollars.
He claims he is getting a loan from the "international banking community" for $850 million using the bonds as collateral.
He claims he placed some of the bonds with Fidelity Title. However, Fidelity Title apparently suffered a burglary. The bonds, of course, were stolen.
Crown claims he is awaiting the assignment of a CUSIP number from the SEC with regards to registering these bonds (so he can borrow against them?).
He also claims he is using the money to build a multi-state adult entertainment company in large warehouse type spaces housing pool tables and multiple other entertainment type attractions.
He claims he already has contracts in place on some of these properties pending securing the funds needed to begin the operations.
My friend has been talking about this guy for months and the story from Crown seems to keep changing. Not the least of which is the timeline when the supposed millions will be available. That date keeps getting pushed back week after week for what would appear to be "legitimate" reasons.
My friend has not invested any money with Crown, nor has he been asked to so far.
My concern is that Crown may be using various business people to create a front or image of something real so that he can raise investment money from others.
(I cannot say more about my friend, he is too close to the situation. Details will give away his identity should Crown read this).
If anyone knows or hears anything about a Gary Crown in Yakima or surrounding areas of central Washington, please speak up.
I suspect this guy will have many victims!
Company: Gary Crown
Country: USA
State: Washington
City: Yakima