SEAN RICHWAY CFRE INVESTMENT FLIPS INFINITY CAPITAL FINANCE

3 Replies

I'm writing you to save you and yours from dealing with a thief, a liar and a fraud. Read the entire message and inform everyone you know to prevent others from experiencing such financial loss.

On 3/26/19 Sean Richway (who was fined in March of 2019 for violating real estate related laws in Essex County [https://newyork.cbslocal.com/2019/03/27/forgotten-families-landlord-2/]) entered into a joint venture agreement to share in profits upon the sale of an asset located in Roselle, NJ. Sixty percent to the me, and forty percent to Sean Richway. Prior to this ratified arrangement, roughly around 11/1/2018, I was contracted to purchase the above mentioned asset solely, without the “partnership” of Sean Richway. Ultimately, Sean Richway persuaded me to allow Sean and his company, CFRE Investment Flips I NJ Corp to become the buyer. Now, I see this was done with the intent to defraud and steal.

Once the property was acquired, I renovated the asset to the point of bearing a fair market price. In addition, I sourced a buyer that ultimately purchased this asset. Approximately a week prior to settlement, I asked Sean Richway via email for just compensation on the day of close. Sean responded very arrogantly and denied payment. I responded by sending Sean Richway appropriate wire instructions, which was never requested at any point from Sean, which gave me proof of Sean's intent to commit the fraud and theft I'm dealing with now. I also informed everyone associated with this transaction, including Sean's appointed title company, that the JV agreement and the addendum between Sean Richway and myself will be recorded at the county recorder to make sure my funds aren't stolen. Sean's response was that my profits gain for rehabbing and selling the Roselle asset will be used for Sean's legal fees and losses on another property not associated with this deal.

On 10/29/19, Sean's lawyer mailed a letter that violates false or misleading statements, hiding evidence, failing to disclose all relevant facts, and arguing a position while neglecting to disclose prior law which might counter the argument in an attempt to retain my portion of the JV profit split. This letter was coincidentally sent around the time I requested payment for my lawful profit share... The premise of these letters state his client, Sean Richway of CFRE Investment Flips I NJ Corp and Infinity Capital Finance is essentially lawfully allowed to commit multiple crimes within the jurisdiction of New Jersey. One of these crimes are theft by unlawful taking, committed on 10/29/19. On this day, Sean Richway and I should have concluded our signed contractual obligation by wiring me 60% of the net proceeds; $25,388 (which includes $2,600 that I paid out of pocket, which hasn't been reimbursed) from the sale of the asset on 10/28/19. Or, $39,596 when eliminating the unconscionable 3% management fee clause (a very sneaky way to increase Sean's equity split even though he did not manage the asset in any month from purchase to resell...). These figures are derived from the HUD/CD net proceeds Sean Richway received in the amount of $108.086.41 on 10/28/19.

At his point, Sean’s unlawfully and illegally withholding money not owed to or owned by him. Sean’s desire to commingle funds, pay for his lawyer fees, offset different property expenses, satisfy debts or investment losses, etc is wrong, unethical and more than enough for you to avoid him and his companies at all costs. There's absolutely no such signed document in existence to support Sean’s choice of taking and keeping my $25,388-39,596.

Rather than figuring this out like men - Sean chooses to hide and not respond to text messages or emails. So, I'll have to use the government to find him and bring him justice... Speaking of an unscrupulous act, Sean Richway agreed to allow a woman to go without heat in her apartment during a Jersey winter...See article above.

DO NOT waste your time with this guy. Sean Richway, CFRE Investment Flips I and/or Infinity Capital

Finance isn't honorable. I’ve never dealt with such a person and company...I urge you to STAY AWAY! Hopefully, I've saved you and your family, friends, colleagues, partners, contacts, affiliates, etc. from dealing with such drama, deceit, fraudulent dealing, stealing and being unresponsive during times of concern. Real estate is too lucrative and fun to deal with such scumbags and crooks like Sean Richway and his companies.


Happy investing! If, you avoid Sean Richway...


INVESTORS BEWARE!!!

This is a fear most people have. What precautions can an investor take to make sure that a Syndicator/GP doesn’t have the power to just see a property and keep all the profits, or doesn’t take the upfront investments and never buys the property.

Reverse, what steps can a Syndicator implement to assure their investors that they couldn’t do this even if they want?

Thanks!

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