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Boca Raton man has been accused of running a real estate scam that duped 16 investors out of over $410,000. Felipe Souza, 27, allegedly promised extravagant returns on non-existent deals through his company FAS Creative Concepts LLC. The Florida Office of Financial Regulation began investigating in November 2022 after receiving complaints from the SEC.

    Souza claimed to offer a high-yield investment opportunity with guaranteed returns between 200% and 338%, along with a money-back guarantee. He positioned himself as an expert in real estate investments, seeking funds for collateral on large loans to buy and flip properties. However, investigators found that Souza provided false information about the investments and returned only $62,600 to investors.

    Bank records show that nearly half of the funds were transferred to Michael Campbell, a businessman presented to investors as having substantial connections. Neither Souza nor Campbell was licensed to sell securities or real estate in Florida. The investigation revealed that funds from investors were used for personal expenses, including shopping and entertainment, rather than legitimate business purposes.

    Souza has been arrested on 17 counts of securities fraud and is accused of defrauding investors out of over $50,000.