In July, the U.S. Attorney’s Office for the Eastern District of Michigan charged Kenneth Bardwell of West Bloomfield with one count of wire fraud. Bardwell is the chairman and CEO of Motown Sports Group Holdings, Inc. and Motown Sports Real-Estate Acquisitions Land and Development, LLC. The complaint alleges that through his business entities Bardwell solicited and obtained millions of dollars from investors since 2014 to build a multi-billion dollar sports and entertainment complex in Romulus, Michigan.
The complaint reveals that almost no effort has been made by Bardwell or his associates to actually purchase land and develop the project.1 Investors were told that if the land for the project couldn’t be purchased the money would be returned to investors from an escrow account. The complaint further alleges that Bardwell and his associates have used investor funds to purchase luxury retail items, rental cars, and other lifestyle expenses as well as gentlemen’s club visits.
Bardwell and his associates sought investors in the proposed sports and entertainment complex through advertisements on a crowdfunding site, public website, paid local television news segments and billboards around the Detroit area.2
While Bardwell did request $152 million in public bonds from the City of Romulus in 2024 to pay for the proposed $1.44 billion development, city officials denied the funding due to legal concerns. Bardwell does have a purchase agreement for the Romulus property advertised as the future site of the proposed complex. For the past seven years Bardwell has annually made a deposit of around $100,000 to the owners of the land, a capital firm, to hold the land. This past May, Bardwell sought to extend the purchase agreement with a $60,000 payment. The capital firm informed Bardwell that he had until June 30 to purchase the property for $28 million or the property would be put up for sale.
On repeated occasions investors have been told that the deal was close to closing. In June 2025 an investor filed a complaint with the Birmingham, Michigan police and the FBI alleging that Bardwell was orchestrating an investment fraud scheme through Motown Sports. The complaint was investigated, leading to the charges by the U.S. Attorney’s Office. Bardwell and his associates have not been found guilt as the investigation is still ongoing. The FBI is currently seeking information from any individuals who may have invested money with Motown Sports Group Holdings, Inc. or Kenneth Bardwell. They are also seeking the help of anyone who may have information pertinent to this matter.
Concerned About an Investment? Know Your Legal Options
Investment fraud allegations can involve misleading statements, misuse of investor funds, unsuitable investment opportunities, or promises that do not match how money is actually being used. If you believe you were misled about an investment or have questions about recovering investment losses, contact an experienced securities attorney near you.
The Law Offices of Peter C. Rageas represents investors in Michigan who have suffered losses involving securities fraud, broker misconduct, investment scams, and other financial wrongdoing. Backed by three decades of experience, our firm helps clients understand their legal options and pursue recovery. Contact our Royal Oak Securities Firm to schedule a free case evaluation today.
________________________
1 West Bloomfield Resident Charged for Investment Fraud Scheme, 7/16/2026
Link: https://www.justice.gov/usao-edmi/pr/west-bloomfield-resident-charged-investment-fraud-scheme
2 West Bloomfield Man, 55, Charged in Investment Fraud Scheme by Nick Lentz, 7/19/2026
Link: https://www.cbsnews.com/detroit/news/west-bloomfield-man-charged-investment-fraud/