I was seeking a $5,000,000 loan for a real estate project and had met Jim Gray through business associates. He indicated to me that he could loan me the money we were seeking for our project. He said that we needed to escrow $500,000.00 in his attorney's trust account until the loan closes. He said that the money would remain in trust and not move until we received the loan into our account. I checked out the attorney with the Alabama state bar and found he was in good standing. Jim Gray operated under the name of Team USA, although when I met him earlier he operated under the name of Global Trust.
I didn't think much about it at the time but I did ask for a copy of the attorney's errors and ommissions insurance decleration to ensure that if my money was moved or mishandled in any way I would be protected. He provided that to me as well as provided me with documentation that indicated he had the ability to loan us the money. He said that it would take around 30 days to close our loan. As assurance he also sent me a supposed copy of documentation that indicated that he owned a bond with a value of $500,000,000.00 in his name written out on the bank called AB Ambro, a Dutch bank. Everything looked and seemed legitimate.
Prior to transferring the money to his attorney I called the Attorney to verify the transaction and his bank account. The Attorney, John Coultas Taylor, said that he was aware of the transaction but had not received a copy of the contract. But he did say it was ok to send the funds over. I wired the funds and began the 30 day wait. In the beginning things were fine and Jim Gray was very pleasant answering my calls and even talking on future business after the loan was closed. About 2 weeks prior to closing I received a call from Mr. Gray that seemed a little strange. He began to explain some gold deal in Mali and that we could take $2,000,000 and go make huge profit of almost $50,000,000.00 of it.
I said "go for it" but then he began to explain that he needed to take $2,000,000 from the proceeds of our loan. I protested immediately! I explained to him that I needed those funds for the real estate project and that my partners and I were in need of those funds or else we would have never asked for the loan. He said he understood but things were never the same after that call. The following week he seemed irritable when we called to see how things were going. Finally after the 30 days were up excuses started pouring in. Day after day and week after week he came up with several excuses.
It got to the point he would no longer communicate with us. I called the Attorney and demanded my money from the escrow he was holding. He said that Jim Gray never sent him the contract and that his job was to protect the trust and he refused to send my money back. I found out later that he released the money to Jim Gray shortly after I sent it. Jim Gray left the country and went to Mali, where he began to call and email me and partners from explaining some gold deal he was doing and that he would be gone for a while. He told us that proceeds from the loan was being held in a bank account at Chase bank and sent us statement showing more than $6,000,000.00 , a few days later he admitted that the account was not his and none of the funds were for my loan. A few days later he said that he was no longer going to loan me the money but was going to return the original funds because we threatened to report him to the authorities. He cut off all communication with me and made no efforts to return one dime to me.
I filed for and received a warrant for his arrest in Fulton County Georgia. We are currently working with the Alabama authorities to have him extradited back to Georgia to answer for his crime. If you run across this fugitive from justice please don't do business with him. He is very articulate and claims to know everything about bonds and banking instruments. This man is a fraud and should be avoided. He has caused my family and my business permanent damage. I feel so stupid because I thought I did everything right to protect myself. This man conned me and maybe even the Attorney but I thought an Attorney who would take that much money in on a loan transaction would demand the contract prior to releasing the funds for his own protection. I guess not though. His full legal name is Willie James Gray and he is a fugitive from justice.