Feds Say They’ve Busted Condo Scam

     MINNEAPOLIS (CN) – James and Teresa Hoffman got rich through mortgage fraud, buying and selling condos through a string of companies, federal prosecutors say. The Hoffmans promised investors they would rent and manage the properties they had fraudulently acquired on the investors’ behalf, but took the money and left the investors to be disclosed upon, Uncle Sam says in Federal Court.

     The defendants amassed a fortune, boats, RVs and other stuff through their scam, prosecutors say. Here are the defendants: James Warren Hoffman, Teresa Gay Hoffman, Accredited Financial Services Inc. aka AFS Co. aka AFS Inc., Encore Acquisitions LLC aka Encore LLC, Bessord Partnership LLC aka Bessford, Heartland Consulting aka Hartland Consulting, GRD Management aka GRD Property Management, Chad Wegscheider, Patrick Dols, Minnesota One Mortgage Inc., Wegs Enterprise LLC, Wegs Properties LLC aka Wegs Property Management LLC, and Wissota Property Management LLC.

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