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A Florida-based couple running a real estate coaching and investment company is allegedly operating a scam that’s defrauding rookie investors, according to a handful of lawsuits filed in federal court.
Greg Parker Jr., who goes by the handle Big Bizzneesss, and his wife Danielle “Nikki” Morris Parker promised to coach new investors into building real estate portfolios. For a price, the couple also promised to let people into their supposed investment clubs. It was all part of an elaborate scam, according to investors interviewed by the Philadelphia Inquirer.
Fueled by marketing that leaned on their hundreds of thousands of followers on social media, the Parkers sold investment seminars starting at $97, VIP passes for $297 and one-on-one mentorships for $5,000.
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At times, they would allegedly lure new real estate investors into supposed investment deals that would end up with surprise bills and unpaid taxes.
Real estate agent Shakir Ali told the Inquirer he and other new investors formed a group to buy a mixed-use property in Cleveland. Members of the group spent $7,000 each to pick up the property for $55,000. The seller was one of Parker’s companies, Hometown Estates, the Inquirer reported. The property was purchased one month earlier for $13,000.
Another investor said he borrowed money from his retirement account to pay for the purchase of a house in Cleveland, plus more for supposed group investments with Parker. None of the investments panned out, the investor said. He lost just over $100,000, he told the paper.
More than a half dozen lawsuits filed in federal court in Philadelphia allege the Parkers are effectively operating a real estate investing scam.
According to the Philadelphia Inquirer: “The lawsuits…accuse the couple and their web of companies of taking thousands of dollars from clients for mentoring that never happened and property sales that never materialized, or selling them properties that — unbeknownst to investors — were condemned or burdened with unpaid liens.”
Investors told the outlet they had been contacted by an FBI agent in Ohio who typically pursues white-collar crimes, claims the FBI did not confirm.
“They were the people that introduced me to real estate,” young real estate investor Benjamin Nelson told the Inquirer. “I wasn’t expecting the person I learned the thing from to do that to me.”
Parker, who calls himself a real estate guru on his Instagram page, didn’t respond to multiple requests for comment from the Inquirer. He has since made social media posts denying the allegations made in the multiple court cases.
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