Business ProfileforNovus Properties LLC
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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.
On March 29, 2019, Brian Thomas Sapp, owner of Novus Properties LLC, was sentenced in the U.S. District Court Eastern District of Virginia. Sapp had been previously found guilty for wire fraud and identity theft related to a ponzi scheme he operated under the business' name. Specifically, Sapp had stolen the identity of the president of a construction company, and executed false sales contracts between himself and the construction company. He would then use these false contracts, and falsified HUD-1 settlement sheets as evidence to investors that he was able to provide them with a return on their investment, in some cases he promised up to a 25% return. Records indicate Sapp executed hundreds of false real estate transactions, but never actually closed any deals, instead using victims money to purchase luxury vehicles, vacations, and making payments to soothe "investors" in efforts to continue his scheme. Sapp received 108 months in a federal prison, 4 years of supervised release, and restitution in the amount of $2,311,330.12.
At-a-glance
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Business Details
- Location of This Business
- 2308 Mount Vernon Ave PMB 259, Alexandria, VA 22301-1328
- BBB File Opened:
- 5/26/2020
- Years in Business:
- 11
- Business Started:
- 10/14/2012
- Business Incorporated:
- 10/14/2012
- Type of Entity:
- Limited Liability Company (LLC)
- Business Management
- Mr. Brian T Sapp, Owner
- Contact Information
Principal
- Mr. Brian T Sapp, Owner
Customer Contact
- Mr. Brian T Sapp, Owner
Customer Complaints
0 Customer Complaints
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