Home Seller Says House Flipper Paid In 'Worthless' Crypto

Law360 (June 4, 2020, 10:03 PM EDT) -- A Georgia house-flipper bilked a California woman out of $37,500 by paying for part of an all-cash deal for her Georgia property with a "worthless" cryptocurrency called Troptions.Gold, according to a suit filed in Georgia federal court Wednesday.

Mary Shea, a California-based clinical psychologist, said that she had planned to use the proceeds from the home sale to pay off student loan debt, but that Mike Cherwenka, manager of Best Buy Homes LLC and promoter of Troptions, scammed her out of 30% of the agreed-upon price of $125,000.

Shea alleges that Cherwenka and his company violated state racketeering and securities fraud...

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