January 18, 2025 - 12:02
ROANOKE COUNTY, Va. — On Friday, January 17, the U.S. Department of Justice Attorney’s Office for the Western District of Virginia revealed that a local man has pleaded guilty to charges related to a fraudulent real estate scheme that defrauded investors of approximately $1.3 million.
The man, whose identity has not been disclosed, was involved in a series of deceptive practices that misled investors about the profitability and legitimacy of various real estate ventures. According to officials, he falsely represented the potential returns on investments and manipulated property values to entice individuals to invest in his schemes.
This guilty plea is part of a broader investigation into real estate fraud, highlighting the importance of vigilance among investors. The case serves as a reminder of the potential risks associated with real estate investments, especially when promises of high returns are involved. Sentencing for the man is expected to take place in the coming months, and he faces significant penalties for his actions.
