Randall Morrow spent his days inside his house day trading. It was his job and a job that got him in a lot of hot water. Attorney Mike Calfin represents half of Morrow's victims. He claims a total of 26 people lost thousands of dollars of their investment money because of Morrow.
"Most of the people are family friends, golf buddies, church friends, and people who were closer to him that usual business relationships," said Calfin.
It all started last month when two investors approached Morrow for their money. Calfin says Morrow wrote two checks, one for $1.5 million and another for $175,000. Both came back insufficient.
"After the checks bounced, they went to him and said, 'These checks aren't any good. What's the deal?' That's when he confessed that there wasn't any money left. The money was gone," said Calfin.
"Do you think this guy was a crook?" we asked. "I think he knew what we was doing I think he knew it was wrong, yet he went on with the standard of living to the detriment of the people listed in the bankruptcy," said Calfin.
Calfin says Morrow and his family lived a luxurious lifestyle. He had a lake house at Possum Kingdom Lake and nice cars; assets worth half a million dollars.
Calfin says neither he nor the FBI can find the money trail that leads to the investor's $5 million.
NewsChannel 11 tried to contact Morrow at his home, however he was no where to be found. Calfin says he may have left Lubbock for Dallas, but says the FBI has a close eye on him.
Morrow faces federal fraud charges, but he has not been arrested. The FBI continues their its investigation.
More than likely, Calfin says Morrow will have to sell his houses and personal property to pay everyone back. But if he owes the IRS, it gets paid first.
|The Better Business Bureau|