Rhode Island Property Preservationist Busted In $10 Million Scam
Rhode Island Property Preservationist Busted In $10 Million Scam Selling Properties She Didn’t Own
Rhode Island Property Preservationist Monique Brady admitted to operating a $10.3 million dollar Ponzi scheme. Banks and mortgage servicers hired Brady’s company MNB to perform general maintenance on foreclosed homes. The majority of projects secured by MNB were for less than $1,000. Many were for as little as $25 dollars to a few hundred dollars.
However, that’s not what she told potential investor interested in purchasing the property.
Brady told potential investors MNB had secured contracts to perform large scale rehabilitation projects on foreclosed properties in New England. She collected payments ranging from approximately $20,000 to $80,000.
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