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An Illinois Broker has been sued over false claims made in promoting a 3 day  foreclosure buying seminar they were offering. The supposed claims of wealth and fortune were a little too optimistic for the Attorney General Lisa Madigan.

Beware Carlton Sheets.

Madigan’s lawsuit alleges that the defendants, Insider Real Estate and its founder Christopher Scanlan, violated the Illinois Consumer Fraud and Deceptive Business Practices Act and the Business Opportunity Sales Law by making false promises to consumers regarding their chances of success and the potential profitability involved in locating and selling property in the pre-foreclosure real estate market. The lawsuit also asserts that the defendants violated the law by failing to register their seminar as a “business opportunity” with the Illinois Secretary of State.

Scanlan founded Insider Real Estate in 2005 to market his foreclosure profiteering seminars. As part of his marketing efforts, Scanlan allegedly promised that the Insider Real Estate program would teach consumers everything they need to know about the pre-foreclosure market and that consumers would learn “insider secrets” that they could not learn anywhere except through Scanlan’s extensive mentorship. Scanlan also allegedly misrepresented that consumers who worked hard could expect to make approximately $20,000 to $50,000 a year on these transactions. Additionally, even before the program began, Scanlan allegedly advertised that 92 percent of the program’s students had used information from the program to make a profit. via All American Patriot

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