A West Bloomfield resident was charged with wire fraud for his alleged role in an investment scheme that obtained millions of dollars under false pretenses, according to a July 16 announcement by United States Attorney Jerome F. Gorgon Jr.
Kenneth Bardwell, 66, is accused of operating Motown Sports Group Holdings, Inc. and related entities to solicit funds from investors for a proposed multi-billion dollar sports and entertainment complex in Romulus, Michigan. The criminal complaint alleges that Bardwell told investors their money would be used to purchase land for the project and promised refunds if the land could not be acquired through an escrow account.
According to the complaint, Bardwell made little effort toward purchasing the land and instead spent most of the investor funds on gentlemen’s clubs, luxury retail goods, rental cars, and personal lifestyle expenses for himself and associates. “A complaint is only a charge and is not evidence of guilt. Trial cannot be held on felony charges in a complaint. When the investigation is complete, a determination will be made whether to seek a felony indictment,” officials said.
The case is being prosecuted by Assistant United States Attorney Robert Moran. The FBI Detroit Fraud and Financial Crimes Task Force leads the investigation with assistance from Birmingham Police Department, Bloomfield Township Police Department, and West Bloomfield Police Department.
The Federal Bureau of Investigation is seeking information from individuals who may have invested with Motown Sports Group Holdings or Kenneth Bardwell, or have information relevant to this case.