January 19, 2015- Dallas, Texas
The FBI reports that Thomas W. Lucas, Jr. was such an effective liar that he was able to convince hundreds of investors—even members of his own family—that he had inside information about a Disney resort to be built in Texas that would make the nearby scrubland worth a fortune for those who bought it ahead of time.
“Thomas Lucas Jr. fooled savvy investors and very intelligent people,” said Special Agent Rick Velasquez, who investigated the case from the FBI’s Dallas Division. “He was a very believable guy.”
Lucas convinced over 250 people to invest millions based upon his phony insider information about a planned Disney Resort, “Frontier Disney” north of Dallas. During the investigation, it was learned that most of his “information” was learned from a man he met at a methadone rehab clinic.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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