AUSTIN (CN) - Our Venture, the Marshall Reddick Realty Network and others, including Countrywide Home Loans, defrauded 49 homebuyers by misrepresenting dangerous, rundown properties in vile neighborhoods and selling them through unlicensed realtors, after appraising them for far more than they are worth, through a subsidiary, the buyers claim in Travis County Court.
Reddick's Network, which has real estate agents in 200 cities in more than 40 states, runs the scam under the name of "Armchair Investing," the plaintiffs say. See complaint.
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