Anthony Defeo was a charismatic businessman and a developer with a vision, offering investors an opportunity for the chance of a lifetime.

But that dream deal quickly soured for financers who say the $600-million project presented by the entrepreneur proved too good to be true.

Defeo, who claimed riches from other financial undertakings, convinced them he had the inside track on a casino project with the federal government and an American Indian tribe. The project, he boasted, had received the personal stamp of approval from none other than then-President George W. Bush.

He showed them paperwork, eased their fears with thorough answers and gingerly maintained relationships — until he got at least $2 million from investors, according to more than 20 lawsuits in Macomb County Circuit Court.

Now, with his plans for the development of a casino and entertainment hub in St. Clair County at a standstill, investors don’t know where Defeo — or their money — has gone.

For the complete story, please see Christy Arboscello, Millions vanish with developer Anthony Defeo, Detroit Free Press, February 9, 2009.