P. v. Dunham CA4/1
Between 2004 and 2007, Ronald Duane Dunham (and his agents) persuaded a number of elderly victims to invest over a million dollars with him, ostensibly to purchase undeveloped "lots" of land in Cherokee Village, Arkansas, and/or support Dunham's real estate development efforts there. As alleged by the People, Dunham intentionally misled the victims regarding material facts and, in one instance, embezzled funds with which he was entrusted. Dunham told the victims he would increase land values through the marketing and development of a retirement community, but did not inform them that a third party possessed the exclusive contractual right to sell tax delinquent lots and had a practice of selling its sizeable inventory of lots via online auction—all of which could negatively impact property values and the success of any development venture.
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