Alleged Victim of Ponzi $cheme Also Alleging Fraud by Others Affliated with the Reeves

The alleged Ponzi scheme run out of Fortuna by Delores Reeves as detailed yesterday in my post is spreading to the Bay Area.  According to the Janssen Law Firm, a suit has been filed on behalf of Polly Savoie not only against Delores Reeves and Martin Glenn Reevesbut also against iServe Residential Lending, LLC; Reeves Properties, Inc.; Northern Pacific Mortgage; and Investors Trust Mortgage. Filing against these businesses (iServe is quite large) would seem to indicate that, although Reeves and her husband may be without funds,  there might be compensation available for the alleged victims.

The suit alleges that Ms Reeves worked for Investors Trust from March 2001 till June 2007.  She also worked for Northern Pacific from June 2007 till November 2009.  She then worked for iServe until April 2011. The suit alleges that starting in at lest 2005 that Ms Savoie  was defrauded in various loans. The suit then goes on to allege that the “the defendants knew or should have known that” various properties were over leveraged.   And that the defendants concealed these facts from her with the intent to defraud.

Attorney Timothy Needham said that his firm plans to make sure that Ms. Savoie and the other people defrauded are completely compensated. “Financial elder abuse is rampant in our society, and it is extremely unfortunate when individuals prey upon the elderly by abusing their trust,” he said.

For more see today’s Times Standard which names the alleged victim of the Ponzi Scheme.  In light of their article, it seems foolish to continue to withhold Ms Savoie’s name.  Also, it would seem to indicate that she has something to be ashamed of.  Instead, the courage it takes to be the first one to come forward and confront this situation commands my respect. Thank you.


Photo’s from the iServe site.



  • Oh, what tangled webs we weave…

    Thank-you Kym. I like your style!

  • I applaud Ms. Savoie’s courage in coming forward and pressing charges, which is not an easy thing to do in the Friendly City of Fortuna. I am in firm belief that there are many other victims in this travesty. During the real estate boom in Fortuna there were all sorts of interesting things going on with loans and purchases etc. I suspect Delores had no shortage of those who wanted to “invest” in her scheme. I hope the others who are involved, and are perhaps being shielded by Delores, are brought into the light. The victims in this scam deserve to be compensated.

  • Pingback: Shh! Fortuna Doesn’t Want to Talk about Delores Reeves « REDHEADED BLACKBELT

  • What a Joke, Going after companies she worked for?? She ran branches for those companies many many miles from where they are head quartered. Its very sad she stole money from this woman, but stealing money from companies that she worked for is equally disgusting.

  • If the loans were ran through the company Reeves worked for and she got a commission for the transaction they might be liable. Some local mortgage companies do private money loans which is what it seems this started as but got out of hand.

    And I do believe that Delores was a regional vice-president for Investors Trust which would put her high enough up in the company for the company to become at least partly liable.

Leave a Reply

Your email address will not be published. Required fields are marked *