Boise real estate agent Bradley R. Heinrichs (Anthology Real Estate, iStock, Illustration by Kevin Cifuentes for The Real Deal)
An Idaho real estate agent stands accused of running an $82 million Ponzi scheme that preyed on devout Christian families, promising returns from Arizona property as high as 25 percent.
A trial date will be set April 14 for Bradley R. Heinrichs, 41, after he pleaded not guilty to four felony counts of fraudulent schemes and artifices, illegal control of an enterprise, theft and conspiracy, the Idaho Statesman reported. He was indicted a year ago.
Heinrichs, who works at Anthology, a Boise real estate firm, was accused along with business partner Stephen Hatch of creating more than 30 business entities while managing 17 sets of books to buy 13 properties between January 2005 and December 2014, according to the newspaper. Prosecutors said they ran a racketeering enterprise involving the sale of real estate and promised double-digit returns to more than 110 investors.
Hatch, 72, pleaded guilty in 2017 to one felony count of fraud and was sentenced to five years in prison. He was ordered to pay $1 million in restitution and was released in September. Prosecutors agreed not to charge his children, who were paid lavish salaries and were said to also be involved in the scam.
The indictment accused Heinrich of over-leveraging properties without telling investors, using investor funds to pay off other investor loans, transferring investor money…
