A Milwaukee man, who claims to be an award-winning real estate investor is accused of stealing more than a million dollars from clients who are now suing him, alleging he used the money to fund personal luxuries.
In court documents, a dozen investors claim Joseph Nantomah’s guarantee, that he would use their money to flip properties and return a profit, was nothing more than an empty promise — and many were never reimbursed a single dollar.
Nantomah is accused of luring potential investors on social media and through presentations and seminars, promising to earn them big profits by flipping properties.
TMJ4’s Lighthouse team spoke to a husband and wife who decided to invest $110,000. They want to remain anonymous and avoid embarrassment about the situation but agreed to an interview. The couple says the money they invested was from the family’s savings, and it had taken many years to save up. “Since we started working. Myself and my husband,” said the woman.
Public court records include an agreement between the couple and Nantomah showing they were supposed to receive an initial return on their investment by July of 2023. They say that money never came. “My son was resuming college in August and I needed money,” she said. “And I kept on calling (Nantomah), I kept on sending messages.”
Eventually, they say, Nantomah sent them $20,000 — just a fraction of the return they claim they were promised. The couple said that was the last time they heard from him
OVB Law & Consulting is representing this couple and nine other clients, who all layout similar claims in civil lawsuits. “Gave funds out, signed the same contracts, funds were never returned,” explained attorney Emil Ovbiagele. “He blocks them or stops contacting them.”
“Honestly, every single family, I would say, has a heartbreaking story,” added attorney Kate Goodhart. “We have seen people who are now homeless because they have put all their funds into this investment scheme.”
Nantomah has filed documents in all of the lawsuits he is facing denying the theft allegations.
One lawsuit highlights an investment agreement to fix and flip a home on the city’s north side. But according to Milwaukee County property records Nantomah never purchased the house.
TMJ4 tried to ask him about that by visiting a co-working space connected to his business address. Nantomah wasn’t there. We also visited an address listed as his residence. After repeated attempts to reach Nantomah, he responded to us in an email writing, in part, “I have never stolen any investors funds…” and “…Based on the volume of transactions we do its not uncommon for some Partners to be aggrieved when doing business (sic).”
According to public records, at least one of the lawsuits Nantomah is facing has been resolved, but the terms of that resolution were not disclosed.
Source: tmj4.com