Last Thursday, Christopher Plummer, of Lyme, Connecticut, admitted to an
investment scheme that defrauded investors out of approximately $1.9 million.
Total victim losses were around $1.7 million.
According to a
Jan. 27 U.S. Attorney’s Office press release, Plummer told investors and potential investors that he was an “Authorized
Member” of New England Resorts, LLC, and that he (in various manners)
owned hundreds of acres of land in Lakeshore, Mississippi. that were zoned
for the development of casinos, a medical facility, and numerous residential
properties. He also said that the partners of New England Resorts, LLC
had invested several hundred million dollars of their own money in land
in Lakeshore. Plummer and a co-conspirator also sent emails to investors
that were meant to convince investors that major Wall Street firms were
partnering in the Lakeshore project.
None of Plummer’s representations were true. Further, according
to the press release, Plummer and his co-conspirator never invested any
of the funds as represented, but instead took a significant portion of
the funds for their own use and benefit.
During his plea, Plummer also admitted to a second investment scheme in
which he represented himself as a “managing member” of Madison
and Wall Investments LLC to gain access to a victim’s funds. Plummer
told the investor that he could invest his funds in a firm that used a
computer-based trading system to render returns of 100 percent within
two years. The victim lost $179,000 in the investment fraud.
Plummer pled guilty to one count of conspiracy to commit wire fraud, which
carries a maximum penalty of 20 years in prison. Plummer’s sentencing
has been scheduled for April 13.