Jovane Investments

A lawsuit has been filed and is seeking class action status against the network for scam artists who convinced unwitting investors to purchase houses using questionable loans and then backed out. The 400 investors were duped into buying 1.2 billion in property. An investor would buy a few houses within days of each other and Stonewood Consulting Inc. would apply for loans on behalf of the client totaling 20% more than the appraised value of each house. The investor would pay the seller close to the asking price and then Jovane Investments would then pocket the excess cash, often $100,000 to $120,000.