Dallas Man Pleads Guilty In Real Estate Fraud Scam

PLANO (AP) – A Dallas man faces up to five years in prison in a $17 million real estate fraud case that featured promotions on North Texas radio stations.

Prosecutors say 41-year-old Jeffrey Brown on Thursday pleaded guilty in Plano to conspiracy to defraud more than 80 investors.

No sentencing date has been set for Brown, who from 2006 through 2010 controlled a company called Quadwealth.

Investigators say Quadwealth falsely marketed itself, in advertisements on several radio stations, as a financial planning and wealth management group in which members had the potential to double their money in a year.

Prosecutors say Brown and others instead used the investment funds to pay for their personal expenses.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • YRofTexas

    I recall hearing the show come on the radio.
    I’m among the ‘working poor’, so I disregarded the show’s agenda.

    Did this guy REALLY think that this would not catch up with him?

    What a ding-a-ling!!!

  • Rick McDaniel

    He should have gotten a lot longer sentence.

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