Realtor Pleads Guilty in $1.7 Million Wire Fraud Scheme

News Summary

Mint Hill real estate agent Brian Haigler has pleaded guilty to federal wire fraud charges involving over $1.7 million. His scheme exploited investors and church funds, raising concerns over financial ethics in the community. Haigler faces severe legal repercussions, including potential imprisonment and a plea agreement yet to be publicly disclosed.

Mint Hill, North Carolina – Realtor Pleads Guilty to $1.7 Million Wire Fraud Scheme

A local real estate agent based in Mint Hill has admitted to orchestrating a large-scale wire fraud scheme involving over $1.7 million, impacting friends, investors, and his church community. The defendant, Brian Haigler, pleaded guilty to federal charges of wire fraud, marking a significant case highlighting the risks of financial mismanagement and deceit within small communities.

Primary Allegations and Details of the Scheme

Federal prosecutors have accused Haigler of engaging in fraudulent activities dating back to February 2019, with authorities estimating that more than $1.5 million was stolen through deceptive practices. Haigler’s financial misconduct included convincing investors and friends to part with their money under false pretenses, promising lucrative returns from real estate investments and property improvements. Instead, he allegedly diverted these funds for personal expenses and to pay earlier investors, mimicking a Ponzi scheme.

One of the central cases involves Lester Rivenbark, an investor who invested $150,000 with Haigler, expecting a return of approximately $15,000 within three months. Rivenbark, trusting Haigler partly because he considered him a Christian and associated him with Living Praise Church of God in Monroe, was disappointed to find no returns and no documentation supporting his investments. Rivenbark expressed regret for not securing more detailed paperwork, feeling he was exploited by someone he trusted.

Usage of Church Funds and Unauthorized Loans

Haigler, who operated S&B Real Estate Investments with his wife, is accused of embezzling roughly $389,000 from his church, between July 2019 and December 2021. He reportedly used church funds without permission, including obtaining a $311,000 Economic Injury Disaster Loan (EIDL) in April 2021 by misrepresenting his church’s financial status. The EIDL was a federal relief program established under the CARES Act to help small businesses survive the COVID-19 pandemic.

Haigler later confessed to his church’s pastor about the EIDL loan scheme in March 2022. He also illegally used the church’s name to secure a U.S. Small Business Administration (SBA) loan, further adding to the allegations of abuse of trust and misuse of funds designated for pandemic relief efforts.

Legal Proceedings and Charges

Haigler’s criminal case was initiated with federal charges of wire fraud filed in late June. Court records reveal that he has been involved in fraudulent schemes since February 2019, with a focus on misleading investors and misusing funds over a span of nearly three years. His deception included providing false statements to recruit investors, assuring them their money would be used to develop real estate or improve properties, when in reality, the funds often went toward personal spending and repaying prior investors—a pattern typical of Ponzi schemes.

Haigler has reached a plea agreement, though specific terms and the details of his sentencing have not been publicly disclosed. He faces potential imprisonment of up to 20 years as prosecutors pursue appropriate penalties for his actions.

Impact and Additional Details

The case has raised concerns about oversight in managing financial resources, especially within church organizations and small investment groups. Although Haigler’s wife is not criminally charged, the case underscores the importance of rigorous checks and balances to guard against financial fraud.

At present, there is no publicly available information regarding the recovery of lost funds by victims, and the identities of some victims or specific details of the church involved have not been disclosed in legal documents.

Background Context

Since February 2019, Haigler’s fraudulent activities have rendered significant financial loss to multiple victims, including investors and his church. The case highlights the critical need for vigilance when dealing with financial transactions, especially when trusting individuals claim to act in good faith. As sentencing approaches, authorities emphasize precautions for community members to verify credentials and financial claims thoroughly.

The proceedings serve as a cautionary tale about the potential risks of trusting individuals without proper documentation, and they underscore the importance of transparency and oversight in managing church and personal finances.

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Additional Resources

• WSOC TV: Realtor Ripped Off Friends and Church
• WCNC: Mint Hill NC Realtor Wire Fraud
• Ministry Watch: NC Realtor Pleads Guilty
• Wikipedia: Wire Fraud
• Charlotte Observer: Real Estate News