Alleged hunting business scam catches up to Republic’s Eddings

Suspected scam artist accused of stealing, fraud involving two victims, phony ownership
 
A Republic man was charged with two felonies after authorities said he talked two people into loaning him thousands of dollars for a stake in a guided hunt service that didn’t exist and then failed to pay the money back. Theodore Jay Eddings, 37, has been charged with stealing by deceit and securities fraud by the Greene County Prosecutors Office.
Victim claims to have been scammed
According to the probable cause statement, the first person who came forward said he and Eddings began having conversations about hunts through Black Oak Outfitters for him (the victim) and his son. The victim also said that during the conversation, Eddings stated he had posted he was looking for an investment partner in Black Oak Outfitters. Eddings, the victim said, promised that if he (the victim) would invest $15,000 into Black Oak Outfitters, Edding would pay him 70-percent of the money received from hunts scheduled through the service until the $15,000 was repaid, and 30-percent thereafter. The victim said Eddings told him he’d made $75,000 from hunts the year before, and also promised that the victim and his son could hunt for free through Black Oak Outfitters.
However, the victim said, he never received a single payment. He stated he contacted Eddings, who allegedly gave him a number of excuses. First, the victim said, Eddings told him that no one was
 booking hunts and things were slow. Later, Eddings allegedly told the victim that he was in the process of selling Black Oak Outfitters, and he would be paid once the sale was closed.
However, the victim said, the date of the sale came and went, but when he spoke to Eddings, Eddings allegedly told him the sale fell through.
Eddings allegedly told the victim later that another deal to sell Black Oak Outfitters had been reached, but the victim said the closing date for that sale again came and went, and Eddings never sent him any money. The victim said he demanded payment from Eddings or he would go to court, but Eddings said he was filing bankruptcy.
Second victim discovered
During the investigation, another person was found to have paid Eddings $10,000; $4,000 for a hunt and $6,000 for 25-percent ownership in Black Oak LLC. The second man told investigators Eddings did not tell him about another investor, and that if Eddings had, he would not have given him $6,000.
According to the probable cause statement, it was discovered during the investigation that Black Oak Outfitters was a fictitious name issued to Eddings. No evidence was discovered that Eddings had filed for bankruptcy.
No association with real Black Oak LLC
The investigator reported that they learned a Black Oak LLC was organized in Kirkwood, Mo. in 2006. The investigator said he reached out to the owners of Black Oak LLC, who stated they had never heard of Eddings, had not given him permission to use the name Black Oak LLC name and had no involvement with him.
Eddings is scheduled to make his initial court appearance on Wednesday, Jan 13.