Monique Brady owned a property rehabilitation business that turned out to be a 10.3 million dollar Ponzi scheme. From 2014 through the summer of 2018 she claimed to be overseeing major renovations on foreclosed properties under contract with lenders such as Freddie Mac. She promised investors half the profits from the sale of the properties, but instead used the funds raised for plastic surgery, to pay her mortgage, to gamble and to take extravagant vacations.

When Brady found out she was the subject of an IRS investigation, she asked her investors, many were close friends, to delete all emails, texts and documents relating to their investments in her business.

Brady was sentenced to eight years in prison and three years of supervised release for obstructing an IRS investigation,  wire fraud and identity theft. She was ordered to pay 4.78 million dollars in restitution.

 

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