Local Business · Sumter County
Baum Financial Services Offices Close; Investors Nervous as Payouts Cease
Baum Financial Services has closed offices in The Villages and Brooksville, causing concern among elderly investors whose payments have suddenly stopped. The firm reportedly solicited investments for a Costa Rica property development called Arenal Hills, promising returns based on community concepts similar to The Villages. While the founder initially attributed payment delays to banking changes and regulatory issues, he has since remained silent. Adult children of investors report difficulty contacting the firm to liquidate accounts or verify the status of the overseas villas.