Complaint Review: Jeffrey Pollock / Park James Scammer

Jeffrey Pollock presented his Park James investment as a 'can’t-miss' opportunity. It involved a hotel development, a ground-up construction. My associates and I invested several million dollars in his project. However, Jeff lost the hotel to his lender, Bixby, during the pandemic. He attributed the hotel's failure to the pandemic. After extensive investigations and interviews, we discovered that this was not the case.

Jeffrey Pollock absconded with millions from the partnership. He refinanced the property with Bixby and, in doing so, increased the loan amount to an unsustainable level to cash out money for his and his father's personal gain, ensuring the debt remained 'Non-Recourse'. He extracted millions from the project through management fees, commissions, and cash-out proceeds from the refinance. He misled everyone involved, stating that Bixby foreclosed on the project due to the pandemic when, in reality, he never made even one loan payment to Bixby after the refinance closed. Jeff was already in default with Bixby before the pandemic.

Making matters worse, Jeff refused to contest the foreclosure legally, as doing so would have triggered a 'springing' guarantee. If the lender enforced this guarantee, Jeff would have been compelled to return all the money he withdrew from the property. He raised over $18 million in equity to build the Park James Hotel and chose to lose all investor equity to retain the millions he absconded with from the project.

Even after the foreclosure, he declined to enforce the partnership’s rights to recoup capital, fearing discovery of his 'springing' guarantee. Bixby Bridge Capital attempted to negotiate with Jeff, but he refused to make payments. This raises the question: if the mortgage was not being paid, what happened to all the revenue generated by the hotel? It is suspected that the revenue was diverted to pay Jeff’s attorneys and support his personal lifestyle, not the mortgage as agreed.

To make matters even more troubling, we have uncovered fraudulent financial information provided to induce us to invest. Jeff has lost $18 million of investor money while enriching himself. DO NOT DO BUSINESS WITH THIS MAN. More details will be reserved for testimony.