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Sunday, May 19, 2024 | Back issues
Courthouse News Service Courthouse News Service

Investors Say They Were Taken To The Cleaners

DALLAS (CN) - Eight lawsuits accuse Ray Ellis and his company, Kwik Industries, of defrauding investors of hundreds of thousands of dollars at a time by misrepresenting the finances of his "turnkey businesses," such as car washes, lube centers and dry cleaners, then when the businesses fail, buying them back at cut-rate prices or at a sheriff's sale, and reselling the boondoggle to another sucker. See a sample complaint in Dallas County Court.

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