For years, an Idaho real-estate agent approached devout Christian families with irresistible investment opportunities, quoting the Bible as he promised them annual returns as high as 25 percent.
But it was all a massive scam, the feds say.
Bradley R. Heinrichs, of Boise, was actually targeting Christians as part of a Ponzi scheme, and eventually bilked people who thought they would see major returns on their investments in Arizona real estate out of an eye-watering $82 million, federal authorities said.
Heinrichs, 41, led Anthology Real Estate, a firm in Boise that entices customers with the slogan, “Every person has a story, each story has a place—let’s write your story together.”
Heinrichs’ full story was finally revealed in March 2021 when he was indicted on four felony counts of fraudulent schemes, illegal control of an enterprise, theft, and conspiracy, the Idaho Statesman reports. The Statesman reports that Heinrichs and his business partner, Stephen J. Hatch, allegedly created over 30 business entities while managing 17 sets of books for the purchase of 13 properties between January 2005 and December 2014.
Heinrichs is accused of over-leveraging properties without telling investors, using investor funds to pay off other investors’ loans, and misleading investors about the value of their investments, among other alleged misdeeds.
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