Couple Indicted for Real Estate Investment Scam Operating as a Ponzi Scheme

CLEVELAND - A New Jersey couple has been indicted for allegedly running an investment scam that took investors' money with a promise to receive high returns on the development of real estate properties mostly in the Cleveland area. The scam operated as a Ponzi scheme, with victims being misled and lied to, and some early investors paid with funds from later investors.

A federal grand jury returned an indictment charging Gregory, 50, and Danielle Parker, 50, of New Jersey, with Conspiracy to Commit Wire Fraud and Wire Fraud.

According to allegations in the 65-page indictment, the married couple carried out the real estate investment scheme between January 2017 to December 2023. Victims were led to believe they were purchasing properties, mostly located in Cleveland and East Cleveland, to be developed into multi-family dwellings that would generate above-market returns from rental income. However, the Parkers instead took the investors' money and used it to repay earlier investors and fund their own lavish lifestyle.

Investigators learned that the Parkers hosted seminars throughout New Jersey, Pennsylvania, and Ohio, including one held at the Cleveland Hyatt Regency in May 2022. Potential victim investors were then identified from among the seminar attendees. People were enticed to attend the seminars after seeing the Parkers' luxurious lifestyle depicted on a social media platform. Some videos featured Gregory Parker flying in a private jet, driving a Mercedes-Maybach, or vacationing in the Bahamas. They also shared video announcements for upcoming seminars with titles such as "Rolling with the Parkers," "Greg Parker Presents: Big Bizzneesss Minus the Business Suit!!!" and "Year of the Millionaire Tour." In one video, the Parkers were observed driving a Lamborghini to promote an upcoming seminar entitled "The Road to Financial Freedom."

Victim investors were typically charged $2,000 to $5,000 to enroll in the Parkers' real estate investment and mentorship program. Then, the couple would purportedly obtain a single-family or multi-unit rental property on the victim's behalf in exchange for an agreed-upon down payment.

Victims received very little information about the properties they believed they had purchased. When they contacted the Parkers to ask questions or complain, the Parkers' responses were often delayed and consisted of run-around excuses.

Investigators found that some victims never received a property, or they received a property without a clear title. Others received a condemned, dilapidated, or otherwise uninhabitable property and were forced to sell, or attempt to sell, the property they did receive at a loss.

While the indictment focuses on 13 victims, investigators believe there are more.

If you believe you were a victim in this matter, please contact the Cleveland FBI at [email protected]with "Parker Investor" in the subject line.

If convicted, each defendant's sentence will be determined by the Court after a review of factors unique to the case, including prior criminal records, if any, roles in the offense, and the characteristics of the violations.

The investigation leading to the indictment was led by the FBI Cleveland Division.

Assistant United States Attorney Megan R. Miller for the Northern District of Ohio is leading the prosecution.

An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.