Hall of Fame Pitcher Admits He Lost Nearly $1 Million in Fraudulent Business Scheme

Former Baltimore Orioles Hall of Fame pitcher Jim Palmer has become embroiled in an alleged fraud scheme involving a former family friend who he says conned him and his wife out of nearly $1 million in a phony business deal. And although he has since filed a civil lawsuit in an Orange County Superior Court, the defendant has since disappeared before he could even be served.

According to a new report in The Athletic, Palmer, now 78, is claiming that Warren Michael Holmes misrepresented himself as a prominent British hair stylist, and that he and his wife Susan made business and personal loans in the amount of $985,000 to help him start a line of beauty products after meeting through mutual friends in 2015.

The lawsuit also claims that Holmes befriended his 27-year-old autistic stepson, Spencer, and formed a close bond with the family to the extent that he was even named Spencer’s guardian and the manager of his trust.

Although Susan is 21 years Palmer's junior and in good health, she's genetically predisposed to Alzheimer’s disease. The couple feel that their son was used as a pawn for Holmes to gain their trust.

“Whether [Holmes] hoodwinked us or not, there is no way in the world he could have without ingratiating himself into our family and giving us the feeling that if anything happened to me—because I’m 21 years older than Susan—and then Susan had some kind of memory issue or whatever, that he was going to take care of Spencer," Palmer told The Athletic.

"We understand people are going to think we are the most gullible people on the face of the earth,” Susan added. "Well, OK. I just want to make sure he doesn’t do this again."

Holmes, who the couple describe as a "stylish, charismatic Englishman," is being accused of soliciting them for a loan of $750,000 in November 2018 to start "Love Brands," a holding company for his line of beauty products. But when Holmes had still not repaid the loan or launched any products by 2022, Palmer—who was intended to be shareholder in the company—loaned him another $235,000. The suit states that "because [Palmer] was concerned that nothing had launched, and without a launch of some product, Mr. Holmes would not be able to pay Mr. Palmer back."

"It was a short-term loan," Palmer explained. "It would have been nice to have a little bit of income coming in if his products were launched and successful—and the way he sold it, I would have bought the Brooklyn Bridge. He was a great salesman."

Palmer says that after funding Holmes the money "to supposedly realize his dream, to allow him to be what he wanted to be," he then disappeared. The couple currently do not know of Holmes' whereabouts, and have gotten no response when inquiring with his family members.

The suit alleges breach of contract for business and personal loans, negligent misrepresentation, fraud in the inducement, and unjust enrichment. Both parties are supposed to convene for an initial court appearance scheduled for Feb. 22 next month. However, Holmes must first be served.

Palmer, a six-time All-Star and three-time World Series champion, worked as a color commentator for ABC Sports, ESPN, and for the Orioles on Home Team Sports (HTS) following his retirement from the MLB. He also served as a spokesman and underwear model for Jockey International for nearly 20 years during the late 1970s and 1980s, appearing in national print and television advertisements and on billboards in Times Square. He famously donated all proceeds from his underwear campaign to the Cystic Fibrosis Foundation.