United States Real Estate Investor

United States Real Estate Investor

United States Real Estate Investor logo is a registered trademark of Universe Media Publishing, LLC
Search
Close this search box.
United States Real Estate Investor

United States Real Estate Investor

Search
Close this search box.
United States Real Estate Investor

United States Real Estate Investor

Search
Close this search box.
Banner Privy - Direct To MLS Data banner ad

$3 Million Twin Cities Area House Flipping Fraud

3 MILLION TWIN CITIES AREA HOUSE FLIPPING FRAUD Suzanne Griffiths Minneapolis, Minnesota
In Minneapolis, Minnesota, a Twin Cities house-flipper has pleaded guilty to defrauding real estate investors out of more than $3 million, announced U.S. Attorney Andrew M. Luger.
Longhorn Investments Features
Shaun Young Virtual Wholesaling
Table of Contents
$3 Million Twin Cities Area House Flipping Fraud
Play Video about $3 Million Twin Cities Area House Flipping Fraud
United States Real Estate Investor Lending business partnership handshake - Get funds for your next deal or become a Lending Partner
United States Real Estate Investor - Real estate investing media - CCG Group, Tanen Andrews

Illegal Real Estate Investing Practices Dampen Legitimizing The Building Of Financial Freedom

In Minneapolis, Minnesota, a Twin Cities house-flipper has pleaded guilty to defrauding real estate investors out of more than $3 million, announced U.S. Attorney Andrew M. Luger.

According to court documents, from 2018 through December 2020, Suzanne Griffiths, 46, currently residing in Arizona, executed a scheme to defraud individuals by soliciting investments in her Minnesota-based house-flipping businesses.

Griffiths was active in the house-flipping community and frequently attended seminars of a national real estate investment coaching program.

Predatory Property Promises

Through these seminars, Griffiths networked with other individuals and pitched her own house-flipping businesses: Level 5 Properties, LLC; 45 North Investment Properties, LLC; and Our Town Properties.

Griffiths frequently contacted seminar attendees about potential investment opportunities in properties owned by her companies. Griffiths promised investors various manners of repayment in return for investments.

Griffiths frequently made material misrepresentations about the status of real estate projects, failed to take promised action, falsified documents, and misappropriated investments for her own use.

Real Estate Scams On The Rise In 2022
Property Update

 

Financial Deception

According to court documents, in November 2018, Griffiths solicited a $100,000 investment from an investor to finance the renovation of a property.

Griffiths promised the investor that they would hold a second position on the mortgage and falsely assured the investor that the necessary mortgage documents had been filed with the appropriate county.

In reality, Griffiths never filed the documents and, as a result, the investor lost their entire investment.

United States Real Estate Investor Lending business partnership handshake - Get funds for your next deal or become a Lending Partner
Experience lasting business growth with custom content that works to increase sales.

Unauthorized Document Use

According to court documents, in July 2020, Griffiths solicited a $70,000 investment from another investor. Months later, to facilitate the solicitation of a second investment for renovations of a property, Griffiths provided the investor with information, printed on title company letterhead, demonstrating the potential of the requested investment.

The investor later contacted the title company and learned that Griffiths had altered the information provided by the title company to intentionally omit numerous preexisting encumbrances on the property. The investor lost their entire $70,000 from the first investment.

Plea Of Responsibility

In total, Griffiths intentionally misappropriated at least $3,197,109.47 of investor funds.

In June, Griffiths pleaded guilty before U.S. District Judge Joan N. Ericksen to one count of wire fraud and one count of money laundering. A sentencing date has not been set.

This case is the result of an investigation led by IRS – Criminal Investigations and the United States Postal Inspection Service.

Assistant U.S. Attorney Jordan L. Sing is prosecuting the case.

Quick Content Suggestions

Real Estate Investors Share Strategy: Buy Multi-family Properties

https://www.businessinsider.com/real-estate-investors-strategy-buy-multi-family-properties-build-wealth-2022-8

United States Real Estate Investor - Real estate investing media - David Randolph Real Estate Investment Coaching
United States Real Estate Investor - Real estate investing media - Real Estate Investing Success Minneapolis

Thank you for visiting United States Real Estate Investor.

Information Disclaimer

The information, opinions, and insights presented on United States Real Estate Investor are intended to educate and inform our readers about the dynamic world of real estate investing in the United States.

While we strive to provide accurate, up-to-date, and reliable information, we encourage readers to consult with professional real estate advisors, financial experts, or legal counsel before making any investment decisions.

Our team of expert writers, researchers, and contributors work diligently to gather information from credible sources. However, the real estate market is subject to fluctuations, changes, and unforeseen events.

United States Real Estate Investor cannot guarantee the completeness or accuracy of the information presented, nor can we be held responsible for any actions taken based on the content found on our website.

We may include links to third-party websites, products, or services.

These links are provided for convenience and do not constitute an endorsement or approval by United States Real Estate Investor.

We are not responsible for the content, privacy policies, or practices of any third-party sites.

Opinions expressed by contributors are their own and do not necessarily reflect the views or policies of United States Real Estate Investor.

We welcome diverse perspectives and encourage healthy debate and discussion.

By accessing and using the content on United States Real Estate Investor, you agree to this disclaimer and acknowledge that the information provided is for informational and educational purposes only.

If you have any questions, concerns, or feedback, please feel free to visit our contact page.

United States Real Estate Investor.

Tags

Don't miss out on the value

Join our thousands of subscribers

Subscribe to our newsletter to learn how to attract clients, close deals faster, and a lot more!

United States Real Estate Investor logo
Croom Financial - Financial planning done correctly should enhance your quality of life and transform your money into a life well lived.
Power Solar Learn

This is the easiest way to know the industry.
The Ultimate Real Estate Investing Glossary

More content

notice!

Web & Social yearly Package

Please, have ad set files ready before purchase.

Please, be aware that after your purchase on the Stripe payment portal, keep your browser open; You will be automatically redirected to the ad set submission page.

notice!

Web & Social Monthly Package

Please, have ad set files ready before purchase.

Please, be aware that after your purchase on the Stripe payment portal, keep your browser open; You will be automatically redirected to the ad set submission page.