After the share purchase, Ballow and his crew installed fictitious individuals as company officers. Ironically, at the time, E-SOL had insignificant assets and the business was not operational. Knowing this, Ballow embarked on a rebranding campaign for E-SOL.
E-SOL became a holding company for several phony businesses, all of which were controlled by Ballow and his associates. Shortly thereafter, Ballow and his fraud colleagues started to solicit investors.
One such example of his phony companies involved Ballow selling land and ownership interests in several proposed resort developments in Mexico. Potential investors were taken on tours of the properties. However, despite taking investor money, there were never any actual resorts built.
To facilitate the influx of investor money, over the course of five-plus years in Mexico, Ballow and his associates opened various bank accounts in Mexico and several other countries. Ballow’s fraud team transferred millions of dollars in investment money from his clients into these bank accounts.
