Ballow has previous convictions for money laundering and a history of running from the law. For example, in 2004, Ballow is scheduled for sentencing but flees the country for Mexico where he lives for almost five years under a series of fake names. While in Mexico, Ballow defrauds numerous investors through a new scheme which is the basis for the current sentencing.
Not only that, Ballow admits that in 2005, while living as a fugitive in Mexico under the name John Gel, he purchases the majority of the publically traded shares of E-SOL. In doing so, Ballow installs fictitious persons as officers of the corporation. At the time, E-SOL has almost no assets and does not conduct business operations. Despite this, and over the course of the next four years, Ballow sells E-SOL stock to investors. Ballow is able to achieve his fraudulent stunt by deceiving investors about company’s assets and finances, while hiding his identity, his criminal convictions and his status as a fugitive. Meanwhile, the unassuming investors invest and subsequently lose millions of dollars.
International Fraudster
In June 2008, Ballow pretends to be a banker by the name of Tom Brown. This time, Ballow convinces an American investor living in Puerto Aventuras, Mexico, to purchase E-SOL stock for $5 million. Ballow convinces the investor E-SOL is developing a golf and recreational resort community in the jungle west of Cancun. The unfortunate reality, however, is that the resort is fictitious and the stock is worthless. As a result, Ballow flees Puerto Aventuras and assumes a new identity a few months later in Puerto Vallarta, Mexico. Ultimately Ballow is the subject of an arrest and extradition order by Mexican authorities in Nuevo Vallarta, Mexico. Shortly thereafter, Ballow returns to the United States.
