Attorney General's News Release
June 19, 2008
Benton County man who took investors' money for golf club that failed required to pay $99,947 restitution in judgment filed by Nixon
Warsaw, Mo. - A proposed Benton County golf club and retirement community and its owner must pay $99,947 in restitution to consumers who invested in the project but never received their principal back when the venture failed, under a consent judgment filed today in Benton County Circuit Court by Attorney General Jay Nixon. Excalibur Golf Club and Retirement Community and its owner, Robert Kuhlmann of Edwards, will also be prohibited from soliciting or accepting funds for investment.
Nixon's office received complaints from consumers who invested in Excalibur, located on Highway 7 in Edwards, including three individuals who put up $25,000 each. The defendants represented to investors that their funds would be used to develop Excalibur and that they would receive a significant rate of return on their investments. Nixon says, however, that the defendants never obtained additional funding to develop the project and failed to return the investors' principal.
In addition, Nixon says, the defendants solicited employees for Excalibur with the promise of high paying jobs. Several individuals left their existing employment and performed work for the defendants, but were never paid for the work or received the promised position with Excalibur.
Upon judicial approval of the consent judgment, Kuhlmann and Excalibur will be permanently barred from continued violations of Missouri consumer protection laws. Specifically, the defendants will be prohibited from soliciting or accepting funds for investment in Excalibur or any other resort or land development projects. The defendants will also be prohibited from soliciting consumers for employment positions with Excalibur or other developments, from maintaining a Web site for Excalibur or other developments and from advertising for Excalibur or other developments unless full funding has been obtained to build the development.
In addition, once approved by the Circuit Court, the defendants will be ordered to pay $99,947 in restitution to five individuals who filed complaints with the Attorney General's Office.