Investor Lawyers Blog
Roy Fluker Jr. was finally sentenced to 15 years in federal prison in connection with an investment and mortgage fraud scheme, something that should have taken place last December. Fluker’s son, Roy Fluker III, and daughter, Ronnanita Fluker, are already serving eight-year prison terms for the scheme. Fluker Jr., who failed to appear for sentencing last December, later was arrested in Florida and sentenced on August 25, 2011. Father, son, and daughter were found guilty of multiple fraud counts following their May 2010 trial. Roy Fluker III was sentenced on August 16, 2010, and Ronnanita Fluker was sentenced in December, but Roy Fluker Jr., a resident of Highland Park, fled Illinois before his sentencing.
According to the U.S. Attorney’s office, about 2,000 victims lost a total of around $10.7 million. The fraud targeted African-Americans and many of the victims could be found at Chicago churches and hotels. The Fluker family fraud took place between 2005 and 2008, yielded a profit of around $18 million, and resulted in the acquisition of some of their victims’ homes. The Flukers’ “Housing Program” was supposed to reduce mortgage payments and result in total ownership in five years. Their “Spend and Redeem Program,” a financial and educational program, boasted a 200 percent profit in one year. The fraud was conducted through two companies, All Things in Common LLC (also known as More Than Enough) and Locust International LLC.
The trial that concluded in 2010 ordered $9 million preliminary forfeiture judgments and $7.34 million in restitution. After freezing the Flukers’ accounts, about $3.4 million was recovered by the Illinois Attorney General’s office. The recovered amount, combined with the restitution amount ordered, will go to replaying the targeted victims who had not yet been repaid.
If you believe that you have been the victim of fraud, contact the Law Office of Christopher J. Gray at (866) 966-9598 for a no-cost, confidential consultation with an investment attorney.