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Instead, prosecutors say the investments were used to pay company salaries of up to $200,000 and maintain a fleet of luxury cars and a staff of 10 chauffeurs. And company officials allegedly traveled to the Super Bowl and the NBA all-star game with investor money. "The name Dream Homes was truly a nightmare for so many people in the state of Maryland," said Douglas F. Gansler, the state's attorney general. Authorities say the conspirators operated under several corporate names, including Metro Dream Homes, Metropolitan Grapevine LLC and POS Dream Homes. Investigators said the scheme was elaborate -- early investors whose monthly mortgage payments had been paid by money provided by later investors assured potential recruits that the program worked. Investors were told the company made as much as $10 million a month. Dream Home representatives also encouraged investors to enroll more than one home in the program, with an additional $50,000 investment fee required for each home. Investors who put $100,000 or more into the program were told they would receive a seat on a "Junior Board of Directors."
[Associated
Press;
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