James LeBelle, owner of Village Bicycle, a Central Village shop that closed in December, participated in benefit bike races and was praised by many for his contributions. But to many bicyclists and bike companies, LeBelle was a man who borrowed and didn’t repay, promised and didn’t deliver.
The Lighthouse Lane resident is deeply in debt — more than $400,000 — according to a personal bankruptcy filing last month. He owes money to more than 70 people and companies, including $36,000 to a Little Compton man and $67,000 to an international bicycle and gear company.
Now LeBelle is being investigated by Westport police for potential fraud. The police are looking into whether he started a nonprofit organization called J.L. Marketing that he promoted as benefitting Buzzards Bay, but kept proceeds for himself and his business.
The police department is contacting those whom LeBelle owes money to in order to see whether fraud was involved, [...]

Original post by Grant Welker