Complaint / Review
Richardson Equities - Jeremy Richardson
Smooth Talker Lier and Cheat Manipulator Con Artist

I am a victim from another angle as I was an investor for Richardson Equities. Thank God I only purchased two properties! Needless to say Jeremy told me that both of the properties I purchased would have people in them on his lease with option program.

I recently found out that one of the properties I purchased was infact his vacation home and he had no intention what so ever of leasing it to anyone! He and his family stayed in it over the holidays while he left other families homeless.

Not only was he using me for my good credit but I heard that he somehow got money for every property he closed. I think they call it a Texas Ernest Money agreement but don't ask me how it works. Anyway, it is not legal never the less.

When things started going down hill for him he tried to get me to purchase a $1,300.000.00 home that he said was a fixer. He said he would give me $25.000.00 at closing. He said he was going to move into it and fix it up and have it back on the market in 6-12 months so I could have my credit freed up. I got cold feet about sticking my neck out that far and turned him down. I later found out that he would have pocketed $250.000.00 at the close of that property. That house is far from a fixer but it was on the market for $900.000.00 for a whole year and did not sell. Somehow he inflated the price to get $250.000.00 out of the deal. I am sure my cold feet payed off as I would have been looking at $7,000 a month payments. It would have not been long and my good credit would be ruined.

I got a little worried the other day as I got loan papers in the mail for a second mortgage on that property. They stated I was the owner of the home and I was applying for a home equity line of credit on it. I never signed anything with reqards to that house. This just tells me he is still up to his old tricks.

Anyway, I am one of the lucky ones as I am hearing other investors have 6 or more properties in forclosure right now. Some have renters in the homes that will have to move out because the payments never went to the bank as Jeremy had promised.

I have saved all of my email corresponence with Jeremy. Most everything we discussed was via email. I will be happy to share it with the authorities.

My prayers are with all of the victims of this horrible scam. May he be caught soon!