- Report: #1510238
Complaint Review: Suzanne and Gary Griffiths 45 North Level 5 Properties - Minneapolis, St. Paul and the metro area MN
Reported By:
Jim Hurley -
Inver Grove Heights, MN, United States
Submitted:
Updated:
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Author Not Confirmed
Why?
Suzanne and Gary Griffiths 45 North Level 5 Properties
Eleanor Avenue Minneapolis, St. Paul and the metro area, MN, United States
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Suzanne and Gary Griffiths, 45 North, Level 5 Properties Mortgage fraud, comingling of funds, forgery (aggravated), theft of funds Minneapolis, St. Paul and the metro area MN
Suzanne has filed for bankruptcy protection after allegedly bilking numerous investors out of hundreds of thousands of dollars. Her scheme involved borrowing funds to rehab and remodel properties, Her husband, Gary had experience taking the roofs off of homes and building out a second floor of living space. They completed a few projects with some lenders which developed a successful track record and lured in other investors based on that success. But soon, Suzanne was borrowing money on the expectation that they private lender would be secured in the second position behind the bank. This is where things went awry. She would either not record those mortgages at all or they would be in 3rd or 4th position. Then to compound matters, they would do a partial demo of the property and rip off the roof, strip the structures to the studs and then abandon the project, rendering the property nearly worthless. Was it a scorched earth policy? Were they trying to destroy value in the property? Perhaps you can find out soon. There is a creditors conference call scheduled for August 2nd. Suzanne is also potentially facing numerous criminal charges as well for forging documents including a notaries seal and a notaries signature. That is aggravated forgery and good for a 10 year term in prison.
They may have fled the metro area and possibly fled the state, she does not want to give her location for fear of her families safety. They did promote their upcoming relocation to Nevada on their own media platforms, but denied that when confronted with a direct question as to their whereabouts. They have ruined several people and couples financially and they did so knowingly. They are ruthless opportunists and there are many people who want to see them in jail for a long time. If they hid the money so well that it is never reclaimed, at least they will never be able to spend it while they are in jail. And that may be all of the satisfaction that many defrauded investors will ever get. Was it worth it Suzanne...Gary?
