Homes and exotic cars up for sale after alleged $ 170 million real estate scheme

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Images via Equialt receiver

Dozens of homes appear in the Tampa Bay market, all thanks to the federal government busting the alleged Ponzi scheme.

The accused fraudster in this case is Equialt, which is led by Tampa real estate investor Brian Davison.

You may remember Equialt moved Tampa’s oldest home in 2018causing problems with city traffic.

According to the lawsuit, the company raised money from more than 1,100 investors in the US and promised that the money would be used to buy dysfunctional properties in order to generate “generous profits.”

Court documents say that when yields were less than expected, Equialt resorted to fraud. The newspapers say that Davison and managing director Barry Rybicki used the money to pay income to others and paid themselves millions.

They are accused of using the money to buy luxury cars, jewelry and book flights on private jets.

Now the purchase of real estate by the company’s investment funds is being sold to get the money back. This also applies to decorations and cars like the 2018 Pagani Huayra now available on DuPont Registry

This is a good time for the Tampa Bay real estate market, which has been running out of stock for some time now. Many of the approximately 300 properties will be auctioned.

REFERENCE: Details can be found on the Internet at EquialtReceivership.com



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