Business ProfileforWisconsin Home Buyers Network, LLC
Current Alerts For This Business
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
United States Attorney Richard G. Frohling announced that on May 19, 2022, Jeremy Arrington (age: 44) of Middleton, Wisconsin, was sentenced to 33 months in federal prison for carrying out a $2.4 million investment scheme that defrauded over 20 victims. Arrington had earlier pleaded guilty to one count of wire fraud, in violation of 18 U.S.C. § 1343.
The information presented at sentencing showed that Arrington partnered with another individual to form a real estate business, Wisconsin Home Buyers Network, LLC (WIHBN), of which Arrington was the Chief Financial Officer. Between 2012 and 2017, the partners solicited and obtained from more than 20 investors approximately $2.8 million, promising little or no risk and healthy monetary returns ranging from 12% to 36%. In return, investors received promissory notes signed by Arrington detailing the investment terms. Some investors also received mortgages that purported to be for specific properties to be acquired and rehabilitated with the investors’ funds, although the partners failed to record all but a few of the mortgages.
The ruling has been appealed by Arrington.
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
Joseph Nemeth, former CEO of Wisconsin Home Buyers Network has been sentenced to 16 months in federal prison after taking part in an investment scheme. Nemeth pleaded guilty to one count of wire fraud.
At-a-glance
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Overview
Business Details
- Location of This Business
- N112W16298 Mequon Rd Ste 103, Germantown, WI 53022-3306
- BBB File Opened:
- 9/29/2020
- Years in Business:
- 14
- Business Started:
- 2/3/2010
- Business Started Locally:
- 2/3/2010
- Business Incorporated:
- 2/3/2010
- Type of Entity:
- Limited Liability Company (LLC)
- Related Businesses
- Business Management
- Jeremy C. Arrington, Principal
- Joseph J. Nemeth Sr., Principal
- Contact Information
Principal
- Jeremy C. Arrington, Principal
- Joseph J. Nemeth Sr., Principal
Customer Contact
- Jeremy C. Arrington, Principal
- Joseph J. Nemeth Sr., Principal
Customer Complaints
0 Customer Complaints
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