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Building of dreams: A downtown real estate deal goes south, costing investors and retirees millions

Source: 
KSHB 41 Kansas City
Author: 
Karen Dillon, Keith King
Date: 
Monday, April 28, 2014

Karen Dillon and Keith King wrote:

Millions of dollars are missing following the failed purchase of two landmark buildings in downtown Kansas City.

Critics say a Ponzi Scheme drained the pockets of dozens of victims including local power brokers, retirees living on fixed incomes and those with life-threatening illnesses, an investigation by 41 Action News found.

At the center of the defunct deals is Brenda Wood, a business woman from Leavenworth County who owns a small janitorial service that cleans school buildings and other facilities.

 . . . 

Wood, who has filed for bankruptcy, denies being a double-dealer and says she too was a victim of deceitful businessmen. In court depositions she has denied being involved in a check-kiting and Ponzi scheme and providing fraudulent documents to investors.

 . . . 

She has lost her bid on the bankruptcy, and the FBI is continuing to investigate, sources told 41 Action News.

Faculty name: 
Stephen Ware