SALT LAKE CITY (CN) – Dare to Dream Investments defrauded investors by promising they could build new homes for 80% of appraised value, guaranteeing quick profits, but used their own network to inflate appraisals and run other scams, five investors claim in Federal Court.
They claim the scheme, based in Herriman, Utah, was a put-up job, conducted so the defendants could get their hands on investors’ money and credit, which they move, use and abuse, leaving investors liable if their homes are never completed or run over cost. Defendants called the program the “Spec Home Investor Program” and pushed it through radio and meetings in Utah. Also sued are Brandon Elizondo, Tom Schneider, Kim Schneider, Lyle Millham, Definitive Appraisals, Jennifer Sagers, Kelli Christensen, Dawn Moses, Transform America Mortgage, Moeller & Sons Builders, Thomas J. Moeller, Nikolaus Moeller, and Thomas L. Moeller. Plaintiffs are represented by Hirschi Christensen. See complaint.