Radio Star Busted for Alleged Ponzi Home Flipping Scam | VIDEO

Popular radio show guest arrested in alleged multi-million dollar Ponzi home-flipping scheme

Story Summary | How a Radio Guest Allegedly Flipped Homes and Scammed Millions

The story is about a man who was a frequent guest on a popular radio show called “The Real Estate Hour”.
He allegedly claimed to be a successful home-flipper who could turn any property into a profitable investment.
He reportedly persuaded hundreds of listeners to invest in his home-flipping projects, promising them high returns and low risks.
However, he was actually repirtedky running a Ponzi scheme, using the money from new investors to pay off old investors and his personal expenses.
He also allegedly lied about the value, condition, and ownership of the properties he claimed to flip, and forged documents and signatures to deceive his investors.
He was arrested by the FBI and charged with wire fraud, mail fraud, and money laundering. He faces up to 20 years in prison if convicted.
The FBI reportedly estimates that his scheme caused losses of over $10 million to more than 400 investors.

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