MFI-Miami Blog

Indicted Rhode Island Property Preservationist Monique Brady Gets 8 Years Prison For $10.3 Million Scam Rhode Island property preservationist Monique Brady will spend the next eight years in prison.  Brady admitted last year  that she used the business to defraud dozens of individuals. She pocketed nearly $10.3 million out of what amounted to a Ponzi scheme. The Department of Justice states Brady operated a property preservation company called MNB.  Brady used MNB to solicit private investors to invest funds for large scale rehabilitation projects. She promised that investors would receive half of the profits. Brady also admitted she told potential investors she had secured contracts to perform large-scale rehab projects on foreclosed properties across New England. additionally, Brady admitted to attempting to obstruct an IRS criminal investigation by asking investors to delete or destroy all email correspondence, texts, and documents relating to their inve...

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.  Read more at MFI-Miami