What are the details regarding the matter of metro dream homes?”
“What ever happened to Andy Williams and Metro Dream Homes?” I’ve heard that question countless times from former participants since Maryland authorities shut the operation down in August, 2007. That shutdown came only days after the second of two columns I wrote questioning how the organization could pay off participants’ home mortgages in seven years or less, as promoters promised. The program was marketed mostly by word of mouth, through families, church members and other people in a position of trust, and many participants were left with mortgages they could not afford. Though Dream Homes operated in several states, it was particularly active near its D.C.-area base, with many participants in Prince George’s County, the District and Fredericksburg. Now we know what happened to Andy Williams. As Henri Cauvin reports for The Post, Williams and three other top Dream Homes participants have been indicted by a federal grand jury in the alleged mortgage fraud scheme, which the Justice De
Between 2005 and 2007, Metro Dream Homes victims were persuaded into investing at least $50,000 with Metro Dream Homes, either by refinancing their existing homes or buying new homes at inflated prices. The company had all the trappings of success—its top officials lived lavish lifestyles, kept a fleet of chauffeur-driven cars, and donated generously to charities. And it used slick marketing to sell its “Dream Homes Program,” which promised to pay homeowners’ mortgages in return for an up-front fee that would be invested in profitable business ventures. But the dream turned into a $70 million nightmare for more than a thousand investors—among the latest victims of mortgage fraud. According to federal grand jury indictments unsealed today, the five people behind Metro Dream Homes and the bogus mortgage payment program were actually running an elaborate deception—one eventually unraveled through the cooperative efforts of federal and state law enforcement agencies. “The effects of this w
The victims of the alleged scam were convinced to invest $50,000 or more to refinance their homes or buy new homes under a “Dream Homes Program,” which promised to pay off their mortgages within five to seven years. A federal indictment unsealed Monday in federal district court in Maryland said that Williams and three other defendants used the money invested by homeowners to pay for luxury trips to the 2007 NBA All-Star Game and the 2007 Super Bowl and to pay off investors in an earlier failed venture. Sources: it is from google.
