Florida REIT accused of fraud, spending investor money on jets, jewelry, gun ranges, adult clubs
A Port Richey-based real estate investment trust and its founders are under fire for allegedly swindling $5 million from a $152 million real estate fund and spending it on expenses like jets, jewelry, gun ranges and adult nightclubs. The SEC filed charges on July 29 in the U.S. District Court for the Middle District of Florida in Tampa against RAD Diversified REIT, Brandon “Dutch” Mendenhall and Amy Vaughn, who are accused of defrauding small investors. According to the SEC’s complaint, the REIT allegedly raised the funds from more than 5,500 investors across the country through unregistered securities offerings between November […]This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts

The next mortgage cycle will be won by companies that rethink how they operate

Inside the $4.25 Million Cape Cod Lakefront Estate Built by the Founder of Josh Cellars

The Ex-Microsoft Exec Who Outbid Cher for an Antique Archway Is Selling His $9.75 Million Seattle Estate

South Florida Dirt: The real estate connection to a $193M fraud scandal

This 1891 Church Loft Is Listed for $750K—Step Inside To See Its Unexpected Transformation

This Turnkey 1960s Vermont A-Frame Comes Fully Furnished for $399K—Firewood Included

Voters seize the ‘say’ in key state battles for housing affordability

Iconic 1880s Waterfront Social Club Hits Market for First Time in 50 Years—With a $1.2 Million Price Cut

Ritz-Carlton Penthouse on Fort Lauderdale Beach To Be Auctioned to Highest Bidder

New Luxury Community Offers Rare Waterfront Living Near the Las Vegas Strip
GET MORE INFORMATION

Stevan Stanisic
Real Estate Advisor License ID: SL3518131
Real Estate Advisor License ID: SL3518131
