Carlton Chadbourne Sayers, also known as Chad Sayers, will spend 132 months in federal prison after his sentencing for wire fraud and bank fraud in late February by U.S. District Judge Amos Mazzant.
According to court records, beginning in 2009, the 52-year old Sayers duped investors with a real estate scheme that promised to purchase and/or renovate various residential properties. Investors loaned or invested money with him, and in Wellington and Franklin Financial, a company which Sayers owned. As is typically the case, investors were promised a significant return on their investment.
In some instances, he secured multiple investments based on a single piece of property. However, Sayers did not invest the funds as he had promised his investors, and did not provide secured interests in real property.
Sayers was also ordered to pay more than $2.1 million to his victims.
As we have stated often in our articles, investors should always consult an attorney when investing moneys with individuals/businesses who may not be trustworthy. Tip offs are statements or promises of returns exceeding 10-20 percent on your money in a short period of time.
The Harris Firm has significant experience in pursuing investment fraud cases for multiple clients in our firm’s history. We recently settled an investment fraud case totaling over $1.4 million dollars. If you suspect you may have been defrauded, please feel free to contact our firm for a free consultation.
