The individual Dennis Leroy Allen had worked for me for about 3 years as a chauffeur for my limousine service. I had gotten to know him well and he started talking to me this past summer about a land scheme that he had to purchase some land in Greenville, TX and build a assisted living facility on it. The land had to be purchased first and I loaned him the $5,000 escrow money for the title company and I did some work on his two corporate minute books. He repaid me the $5,000 and paid me $2,000 for doing the minute book work and he also paid to me the various fees charged by me credit cards and merchant processing fees to get cash advances for the $5,000.
Then he took me to a company at 3010 LBJ Freeway, Suite 1404, Dallas, TX 75234 named D & J Investment Group where I met with David Kim. Mr. Allen was wanting me to borrow money to invest in the corporation - Country Plaza, Inc. - that was being used for the purchase of the land. They asked me about income on my last 2 tax returns and told me it would not be enough to qualify for loans of the size Mr. Allen wanted - $100,000 to $150,000 at the time. Then Mr. Kim stated that he could apply for me for loans and that he would take care of it and I would probably qualify for about at least $75,000 in loans. I borrowed in my name only one loan for $25,000 at Citibank, one for $20,000 at Wells Fargo Bank, one for $20,000 at Chase Bank and a credit card line of $6,000 at Well Fargo Financial Bank. These total $71,000.
Mr. Allen promised to pay the monthly payments for the loans until their $1,000, 000 to $1,500, 000 construction loan was obtained. He paid me the payments for August 15, August 18, September 1 and September 12 and no more. I now cannot pay these payments which total almost $1,600 per month since I have no money coming from Mr. Allen. I hired an attorney and we sent a demand letter for the payments to resume or repayment in full which Mr. Allen has ignored.
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