More Ross Woes
|Troubles for Rarity developer, Mike Ross, just keep
getting worse. Tem more investors have now filed suit against Ross again
claiming fraud, deception and other illegal actions pertaining to Rarity
Pointe and Rarity Mountain in Campbell County. Also named as a defendant
in this suit is FIRST TENNESSEE BANK who is accused of paying Ross
undisclosed amounts of money for undisclosed reasons. The ten plaintiffs
are all from Colorado and according to the suit were duped by Ross
and/or his representatives.
The suit has some 17 different claims and is very long and complicated. Below you can click to read the suit yourself.
The one thing that seems to be very clear, Mr. Ross is a master of tapping into others greed. Promises of 500% returns on their investments seems to have been the main driving force enticing the investors to hand over their money to Mr. Ross. It's hard to have sympathy for folks who lost their money with Mr. Ross who were dumb enough to give it to him.
Ross' investors and business partners may well have been helped if they remembered the old saying: If something sounds too good to be true, it probably is.
Mr Ross has been linked with more than one of our local officials in other odd deals. Supposedly, the TBI is still investigating the Arp/Ross connection on an alleged massive developer discounting scheme by Arp and Mr. Ross and Lenoir City Judge Terry Vann once business partners now legal enemies. Who knows what the next layer of this onion might reveal?