Charlotte property investor William Enrique Lleras pleaded guilty to scam in federal court docket on Wednesday.
Lleras said he cheated not less than 20 victims out of over $3 million. He also admitted using the funds himself to purchase expensive jewelry for nearly three years.?
Lleras was charged with?cable fraud. He launched a scheme involving real estate properties and?securities dupery.
Lleras was also the?key investment officer, account manager vice president, and co-founder involving?Optimum Property Assets LLC.
Optimum Property Investments LLC enticed victims to invest by simply claiming they acquired foreclosed and/or distressed dwellings in Mecklenburg County. This company then resold and/or leased them.?
Investors believed Lleras was initially using the money to acquire the properties.?
Prosecutors lay claim Lleras frequently traveled into the Dominican Republic. He would then simply recruit medical professionals?in?investing with Perfect. He would make fake claims that he was buying real estate of their names. The people would make a sizable gain?remodeling the qualities and then renting as well as selling them.
Lleras done the scheme by means of creating bank accounts below the names of restricted liability companies that ended up being association with each prey.
Lleras also created fake documents, including imitation tax bill receipts, false deeds, and incorrect bank statements, about purchase of the houses to send to the people.
The Charlotte property opportunist paid off Optimum financial obligations with money raised by investors. Yet purchase property for the firm instead of the persons. Furthermore, he would make use of the funds to support his particular lifestyle and other company operations.
Lleras faces no more than 20 years in prison and a fine of $5 thousand thousand for the?securities fraudulence charge. The?insert fraud charge posesses fine of $250,1,000 and maximum time in jail of 20 years.