Tom Lutes Fraud, Breach of Contract Littleton, Colorado

Tom Lutes created a company (Summit Homes) as a real estate development and investment product.  Allowing investors to partner with him in the building of homes in the mountains of Colorado.  The investor took out the loan for the land and the construction of the home.  The homes were to be built, and the investor would split the profits with the builder (Tom Lutes).  Many homes were never finished, and with many flaws.  Upon contact with Tom Lutes, calls were not answered.  The company was then shut down, leaving investors with unfinished homes which were unsaleable.  Most lost these homes to the bank.