Real estate fraud rises in US | csmonitor.com

Real estate fraud rises in US csmonitor.com: "If the downturn continues past 2007, experts say the implications for the economy could be dire.'Real estate fraud is going to make the S&L crash look like two cars in the parking lot that bumped into each other at five miles an hour,' predicts Ralph Roberts, the author of 'Flipping Houses for Dummies,' in Warren, Mich."

Untitled Document

Untitled Document: "Andy Mcfaul - I have become the new CEO of Mile High Capital and bring with me an impressive track record of exponentially growing and then operating large businesses successfully. At the age of 15, I started a pallet-recycling company, steadily building its customer base by passing on savings from innovative production methods."

Judge lets stand settlement tied to Mile High Capital case - The Denver Business Journal:

Judge lets stand settlement tied to Mile High Capital case - The Denver Business Journal:: "Approved by U.S. Bankruptcy Judge Howard Tallman last August, the settlement erased claims Replacement Property Solutions (RPS) had on Mile High -- a bankrupt real estate investment company. Mile High's founder, Fredric 'Rick' Dryer, faces a trial for 67 criminal charges in Denver District Court. Dryer pleaded not guilty to the charges in March. Approved by U.S. Bankruptcy Judge Howard Tallman last August, the settlement erased claims Replacement Property Solutions (RPS) had on Mile High -- a bankrupt real estate investment company. Mile High's founder, Fredric 'Rick' Dryer, faces a trial for 67 criminal charges in Denver District Court. Dryer pleaded not guilty to the charges in March. "

Two top execs at Mile High Capital out the door

Two top execs at Mile High Capital out the door: "However, a press release issued Sept. 14 by Mile High confirmed McFaul and Mile High President Jeff Dietz had left the company. It said McFaul will focus his energy on being CEO of Aspen Home Builders, a sister company of Mile High that he owns. It also said McFaul may take independent ownership of IPF. It said Dietz left 'due to a pressing family situation.' Calls to Dietz' home and office weren't returned. Mile High's lawsuit against McFaul asks for a return of IPF corporate records as well as unspecified damages. Mile High, founded by Fredric 'Rick' Dryer and incorporated in 2000, promotes investment in rental real estate -- mostly duplexes -- at seminars it conducts around the country. On July 12, the company said it had more than $120 million in 2004 sales and more than $175 million so far in 2005. "

Dryer drops settlement plan - Silicon Valley / San Jose Business Journal:

Dryer drops settlement plan - Silicon Valley / San Jose Business Journal:: "Lawyers for Fredric 'Rick' Dryer say that pending criminal charges have forced the founder of Mile High Capital Group LLC to withdraw a plan to purchase some of the beleaguered real estate investment company's assets and settle claims from investors. In a document filed last month with the U.S. Bankruptcy Court in Denver, Dryer's attorneys said he had intended to borrow $1.1 million to purchase certain assets of the Mile High estate and settle 'a number of outstanding issues.' Lawyers for Fredric 'Rick' Dryer say that pending criminal charges have forced the founder of Mile High Capital Group LLC to withdraw a plan to purchase some of the beleaguered real estate investment company's assets and settle claims from investors. In a document filed last month with the U.S. Bankruptcy Court in Denver, Dryer's attorneys said he had intended to borrow $1.1 million to purchase certain assets of the Mile High estate and settle 'a number of outstanding issues.' "

XM pulls plug on Dryer "advertorial" - Orbitcast.com

XM pulls plug on Dryer "advertorial" - Orbitcast.com

Dryer drops settlement plan - Silicon Valley / San Jose Business Journal:

Dryer drops settlement plan - Silicon Valley / San Jose Business Journal:: "Lawyers for Fredric 'Rick' Dryer say that pending criminal charges have forced the founder of Mile High Capital Group LLC to withdraw a plan to purchase some of the beleaguered real estate investment company's assets and settle claims from investors. In a document filed last month with the U.S. Bankruptcy Court in Denver, Dryer's attorneys said he had intended to borrow $1.1 million to purchase certain assets of the Mile High estate and settle 'a number of outstanding issues.' But after Mile High trustee John Smiley called for a Sept. 5 hearing to discuss Dryer's proposed settlement plan, Dryer's attorneys said he couldn't testify in court about the plan because doing so also would mean waiving his Fifth Amendment rights against self-incrimination. Dryer decided not to seek the loan and to forgo the settlement plan. Lawyers for Fredric 'Rick' Dryer say that pending criminal charges have forced the founder of Mile High Capital Group LLC to withdraw a plan to purchase some of the beleaguered real estate investment company's assets and settle claims from investors. In a document filed last month with the U.S. Bankruptcy Court in Denver, Dryer's attorneys said he had intended to borrow $1.1 million to purchase certain assets of the Mile High estate and settle 'a number of outstanding issues.' But after Mile High trustee John Smiley called for a Sept. 5 hearing to discuss Dryer's proposed settlement plan, Dryer's attorneys said he couldn't testify in court about the plan because doing so also would mean waiving his Fifth Amendment rights against self-incrimination. Dryer decided not to seek the loan and to forgo the settlement plan. "

Franklin Master Institute Keynote Speaker and Real Estate Guru Rick Dryer

Franklin Master Institute Keynote Speaker and Real Estate Guru Rick Dryer: "Franklin Master Institute Keynote Speaker and Real Estate Guru Rick Dryer to Release Book Based on Popular Real Estate Investment Strategies Seminar DENVER - July 27, 2005 - Multimillionaire real estate investing expert Rick Dryer will soon be releasing a book based on his popular seminar, Right Place Right Time Real Estate Investment Strategies. With 30-plus years of experience as a successful real estate developer, builder and investor, Rick Dryer has amassed a personal multimillion dollar fortune. Dryer has compiled the strategies that have led him to this substantial real estate success into an easy-to-understand, step-by-step formula and now travels across the country to share these strategies with thousands of potential real estate investors."

Dryer trial delayed until February - The Denver Business Journal:

Dryer trial delayed until February - The Denver Business Journal:: "As the founder of Mile High, Dryer and other executives put on flashy road shows nationwide promoting real estate investments -- including duplexes that were purchased by investors with the purpose of renting them out after they were built. After numerous complaints from Mile High investors and creditors, state securities officers in September 2005 asked a District Court judge to appoint a receiver to assume Mile High's operations. The receiver later filed for Chapter 11 bankruptcy on the company's behalf. An accounting firm engaged by Mile High bankruptcy trustee John Smiley recently concluded, in an exhaustive 300-page report, that Mile High operated as a 'Ponzi scheme' from September 2004 through October 2005 -- when $44 million and 882 customers flowed through the real estate investment company and its sister companies.As the founder of Mile High, Dryer and other executives put on flashy road shows nationwide promoting real estate investments -- including duplexes that were purchased by investors with the purpose of renting them out after they were built. After numerous complaints from Mile High investors and creditors, state securities officers in September 2005 asked a District Court judge to appoint a receiver to assume Mile High's operations. The receiver later filed for Chapter 11 bankruptcy on the company's behalf. An accounting firm engaged by Mile High bankruptcy trustee John Smiley recently concluded, in an exhaustive 300-page report, that Mile High operated as a 'Ponzi scheme' from September 2004 through October 2005 -- when $44 million and 882 customers flowed through the real estate investment company and its sister companies."

Mile High's Dryer faces 8 additional charges - The Denver Business Journal:

Mile High's Dryer faces 8 additional charges - The Denver Business Journal:: "A Denver grand jury returned a 'superseding indictment' Thursday against Fredric 'Rick' Dryer, founder of Mile High Capital Group Ltd. The action adds four counts of securities fraud and four counts of theft to criminal charges Dryer already faces in Denver District Court, bringing the total number of charges to 66. Joe Morales, chief deputy district attorney for the Denver DA's Economic Crime Unit, presented the case for additional charges to the grand jury. A Denver grand jury returned a 'superseding indictment' Thursday against Fredric 'Rick' Dryer, founder of Mile High Capital Group Ltd. The action adds four counts of securities fraud and four counts of theft to criminal charges Dryer already faces in Denver District Court, bringing the total number of charges to 66. Joe Morales, chief deputy district attorney for the Denver DA's Economic Crime Unit, presented the case for additional charges to the grand jury. "

XM pulls plug on Dryer program - The Denver Business Journal:

XM pulls plug on Dryer program - The Denver Business Journal:: "XM Satellite Radio on Friday said it has canceled a paid program featuring Fredric 'Rick' Dryer, founder of Englewood-based Mile High Capital Group LLC, after learning about Dryer's legal problems. 'The advertorial aired once and it won't air again,' said Nathaniel Brown, a spokesman for XM. Dryer, the founder of Mile High Capital Group LLC, last year was indicted on 67 felony charges ranging from theft to securities fraud for his involvement in an alleged real estate Ponzi scheme. A trial for Dryer, who has pleaded not guilty on all the charges, has been set in Denver District Court next February. XM Satellite Radio on Friday said it has canceled a paid program featuring Fredric 'Rick' Dryer, founder of Englewood-based Mile High Capital Group LLC, after learning about Dryer's legal problems. 'The advertorial aired once and it won't air again,' said Nathaniel Brown, a spokesman for XM. Dryer, the founder of Mile High Capital Group LLC, last year was indicted on 67 felony charges ranging from theft to securities fraud for his involvement in an alleged real estate Ponzi scheme. A trial for Dryer, who has pleaded not guilty on all the charges, has been set in Denver District Court next February. "

XM pulls plug on Dryer program - The Denver Business Journal:

XM pulls plug on Dryer program - The Denver Business Journal:: "Convergent president Nick Sabarbin said he tapped Dryer as a consultant to identify hot markets in the Charlotte area, where Dryer currently resides. Titled 'Real Estate Wealth Myths Facts and Strategies,' the show was co-hosted with Gary Eldred, a faculty member at Trump University who has written more than 21 books about real estate, including 'Real Estate 101,' which features a foreword by Donald Trump. Convergent president Nick Sabarbin said he tapped Dryer as a consultant to identify hot markets in the Charlotte area, where Dryer currently resides. Titled 'Real Estate Wealth Myths Facts and Strategies,' the show was co-hosted with Gary Eldred, a faculty member at Trump University who has written more than 21 books about real estate, including 'Real Estate 101,' which features a foreword by Donald Trump. "