TALLAHASSEE, Fla.—Attorney General James Uthmeier has issued subpoenas to RAD Diversified REIT, Inc., its subsidiaries, and its owners, Brandon “Dutch” Mendenhall and Amy Vaughn, arising out of allegations that RAD Diversified REIT, Mendenhall and Vaughn have violated Florida’s Deceptive and Unfair Trade Practices Act or other laws. Mendenhall and Vaughn are internet personalities who advertise seminars that encourage Floridians to invest in real estate through the RAD Diversified REIT and its subsidiaries.

“Our office has received complaints that a popular internet duo selling real estate investment services through their fund is pocketing cash instead of buying properties as advertised,” said Attorney General James Uthmeier. “This appears to be a Ponzi scheme, and with several individuals claiming they’ve been exploited, we are investigating to ensure Floridians are not being deceived by greedy fraudsters.”

Mendenhall and Vaughn, owners of RAD Diversified REIT, Inc. and its subsidiaries, post videos online and on social media to promote their fund, which is supposed to pool investor funds and invest in real estate. Additionally, Mendenhall and Vaughn host periodic in-person seminars that advertise RAD Diversified REIT, Inc. as a way for Floridians to invest in real estate if they do not have enough funds to buy property outright. However, many investors have complained that they cannot collect returns or get their money back due to roadblocks by Mendenhall and Vaughn. The investigation and subpoenas seek to gather information about these complaints and whether the company owns real estate equivalent in value to the amount invested by RAD Diversified REIT customers. Continue reading →

TALLAHASSEE, Fla.—Attorney General James Uthmeier is launching an investigation into Robinhood Crypto, LLC. and issuing a subpoena to uncover internal documents. Robinhood Crypto allegedly is breaking Florida’s Deceptive and Unfair Practices Act by falsely promoting its crypto platform as the least expensive way to purchase crypto—when there is evidence to suggest that is not true.

“Crypto is a vital component of Florida’s financial future, and President Trump’s efforts to advance the crypto market will make America stronger and wealthier. When consumers buy and sell crypto assets, they deserve transparency in their transactions,” said Attorney General James Uthmeier. “Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive.”

Robinhood is a cryptocurrency and stock trading platform. Instead of charging a commission, Robinhood generates revenue by routing customers’ trades to third-party firms. These firms pay Robinhood for the opportunity to take the opposite side of its customers’ trades, also known as payment for order flow or PFOF.  Continue reading →