Juan Enrique Kramer, and three others were recently indicted relating a fraud scheme that bilked investors out of around $1 million.
Those indicted included: 45-year-old Juan Enrique Kramer, a Mexican national businessman residing in San Antonio; his 46-year-old wife Adriana Pastor; 41-year-old Noel Olguin of Victoria; and 40-year-old Mexican national Karina Hernandez.
According to a news release from the U.S. Attorney’s Office Western District of Texas:
“The indictment alleges that from December 2015 to January 2019, the defendants conspired to promote a “turn-key” business venture to Mexican nationals, consisting of a chain of Mexican food restaurants throughout Texas called “Las Quesadillas.” Olguin and Hernandez marketed the operation to potential buyers and were paid between $20,000 and $25,000 for each contract they secured. Kramer and Pastor charged buyers a set fee ranging from $105,000 to $250,000, and promised to perform all tasks necessary for establishing a fully functional restaurant, including: finding and renting a suitable location, obtaining all permits, providing assistance in obtaining visas for buyers, completing construction, training employees, and handling all legal fees and incorporation issues.
The indictment alleges that the defendants took funds from buyers and failed to provide the promised services. Instead, they used the funds for personal gain or to provide partial payments to previous customers who were demanding their money back. In addition to partial refunds, Kramer would also offer stakes in other businesses as an alternative to repayment. If buyers refused, the indictment alleges that Kramer and Pastor would threaten to sue them for breach of contract. The indictment alleges that the defendants perpetrated their scheme on at least eight different victims resulting in a total loss of more than $1 million.”
If you have suffered losses in an investment scheme, Fishman Haygood’s Securities Lawyers may be able to help. Contact us for a free evaluation of your potential claims.