West Bloomfield Resident Charged for Investment Fraud Scheme

DETROIT - A West Bloomfield resident was charged in a criminal complaint for his alleged role in a scheme to obtain millions of dollars in investment funds based on false pretenses, announced United States Attorney Jerome F. Gorgon Jr.

U.S. Attorney Jerome F. Gorgon Jr. was joined in the announcement by Jennifer Runyan, Special Agent in Charge of the Federal Bureau of Investigation.

The complaint charges Kenneth Bardwell, 66, of West Bloomfield with one count of wire fraud. According to the complaint, Bardwell is the operator of a company called "Motown Sports Group Holdings, Inc." and several related business entities. Through these entities, Bardwell has solicited and obtained millions of dollars from investors for a project involving the purported development of a multi-billion dollar sports and entertainment complex in Romulus, Michigan. Bardwell represented to investors that their money would be used to purchase land and develop the project, but if the land could not be purchased, the money would be returned to investors from an escrow account. According to the complaint, Bardwell has made almost no effort towards the purchase of the land to develop the project. He instead spent most of the investor funds on gentlemen's clubs, luxury retail goods, rental cars, and lifestyle expenses for himself and his 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.

The case is being prosecuted by Assistant United States Attorney Robert Moran. The investigation is being conducted by the FBI, IRS-Criminal Investigations, and the Department of the Treasury's Inspector General for Tax Administration.

The FBI is seeking information from any individuals who may have invested money with Motown Sports Group Holdings, Inc. or Kenneth Bardwell, or who may otherwise have information pertinent to this investigation. Please visit https://www.fbi.gov/how-we-can-help-you/victim-services/seeking-victim-information/seeking-victim-information-in-motown-sports-group-holdings-inc-investigation for further information.