Legal

Man With Home in Cruz Bay, St. John Sues Over Alleged Loan Scam After Losing Property in Rush Sale

A man is suing several defendants for allegedly swindling him out of over $20,000 in what is being described as a “loan scam.” John Nash, a Maryland resident, owned property in Cruz Bay, St. John. The property had reportedly been purchased via a mortgage, and in 2023 a large balloon payment was coming due. According to the civil complaint, Mr. Nash needed to secure a new loan under more favorable terms to be able to handle the debt. SWH Partners, LLC, a company allegedly represented by Jeff Halverson – a resident of Florida – offered what the lawsuit called a “hard money loan” to pay off the pending mortgage and move forward under more favorable terms. The new loan reportedly required an upfront payment of $30,000 to move forward, however that sum was negotiated downward to $20,000, the lawsuit claims. Mr. Nash wired the funds on August 10, 2023. Afterwards, the lawsuit alleges, other defendants named in the complaint – Jody Smith and Chris Walker – contacted Mr. Nash to demand a fu...