Corporate & Securities Law

Forrest David Laidley of Libertyville, Illinois, was recently sentenced to five years in federal prison for operating a $10 million Ponzi scheme that defrauded more than 100 investors in and around the northern suburbs of Chicago.   

Laidley obtained more than $10 million in funding for his real estate development company, Forrest Properties, Inc., from hundreds of investors by selling limited partnership interests in commercial development projects and short-term, high interest guaranteed promissory notes.  Unbeknownst to investors, Forrest Properties was in fact a Ponzi scheme as the funds of new investors were used to pay earlier investors, creating the illusion that Forrest Properties was a successful venture.  Laidley pled guilty to fraud for misrepresenting the status of the investments, his ownership of the property, and his financial condition as well as for misappropriating some of the investor funds for personal use.

Eccleston Law represents individual and institutional investors to recover their investment losses caused by securities and investment fraud. Our attorneys also help victims of Ponzi schemes pursue recovery by submitting claims with receiverships established by the SEC or by assisting victims with the filing of a Theft Loss Tax Deduction with the IRS.

If you have lost money investing with Forrest David Laidley or in Forrest Properties, you may be eligible for an immediate theft loss tax deduction of up to 95% of your losses.  Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 for more details.