Jim Palmer Claims He Lost $1 Million in Hairdresser’s Fraudulent Business Scheme

Former Baltimore Orioles pitcher Jim Palmer has filed a civil suit in Orange County against hairstylist Warren Holmes, who allegedly defrauded Palmer out of nearly $1 million, according to a recent report by The Athletic.

Between 2018 and 2022, the Hall of Famer and his wife, Susan, gave Holmes a total of $985,000 in loans to start a line of beauty products. The Palmers trusted Holmes at the time because he claimed he was “a prominent British hair stylist” and had befriended Palmer’s autistic stepson, Spencer.

“It was a short-term loan,” Palmer told The Athletic. “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.”

The Palmers initially loaned Holmes $750,000 in November 2018 to start “Love Brands,” which was supposed to be a holding company for the beauty products. In 2022, Palmer loaned Holmes another $235,000 despite the fact that no products had been launched at that time.

Then last March, Holmes asked Palmer for $2.5 million in order to turn his products into a “global beauty brand.” At that point, Palmer decided to pull out of the business scheme, asking Holmes to return the money.

The Palmers are currently trying to locate Holmes so he can be served with the lawsuit, which alleges “breach of contract for business and personal loans, negligent misrepresentation, fraud in the inducement and unjust enrichment.” An initial court appearance is scheduled for Feb. 22.

“The bottom line is, emotionally, physically, we helped [Holmes],” Palmer said. “We funded the money to supposedly realize his dream, to allow him to be what he wanted to be. And then he just disappeared.”