Tr?id=566623520170033&ev=PageView&noscript=1

Florida Attorney General Targets RAD Diversified REIT Over Suspected Ponzi Scheme

Posted on July 31st, 2025 at 3:38 PM
Florida Attorney General Targets RAD Diversified REIT Over Suspected Ponzi Scheme

From the desk of Jim Eccleston at Eccleston Law

Florida Attorney General James Uthmeier has launched an aggressive investigation into RAD Diversified REIT, Inc., its subsidiaries, and its owners, Brandon “Dutch” Mendenhall and Amy Vaughn, for allegedly violating Florida’s Deceptive and Unfair Trade Practices Act and other state laws.

Mendenhall and Vaughn have built a following through online videos and in-person seminars, encouraging Floridians to invest in real estate via RAD Diversified REIT. According to Barron’s, the pair markets the fund as a solution for individuals unable to purchase property outright, presenting RAD as a vehicle for collective real estate investment.

However, a series of investor complaints has triggered serious legal scrutiny. Barron’s reports that multiple individuals claim they cannot access returns or retrieve invested funds.

The Attorney General suggests these allegations may indicate a Ponzi scheme in which the operators “pocket cash instead of buying properties as advertised.” In response, Uthmeier has issued sweeping subpoenas to RAD Diversified REIT, its subsidiaries, and its principals. The subpoenas demand production of:

  • Communications with investors
  • Investor-facing documents and marketing materials
  • Internal procedural manuals
  • Complaints received by the company
  • Offering statements and prospectuses
  • Financial and banking records
  • Documentation outlining shareholder information and real estate holdings

The Attorney General's office aims to determine whether RAD Diversified REIT owns real estate assets in proportion to the investments it has solicited. Special Counsel Ellen Lyons and Senior Assistant Attorney General Miles Vaughn are leading the case.

While RAD Diversified’s owners have not publicly responded to the subpoenas, the state's probe continues to intensify. The investigation underscores the growing intersection of online influence, real estate investment schemes, and regulatory enforcement in Florida’s consumer protection landscape.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

1792610544 Law
October 21, 2026
FINRA Fines and Suspends Former LPL Broker Over Undisclosed Customer Settlement

The Financial Industry Regulatory Authority (FINRA) fined former LPL Financial broker Gregory W.

1792523173 Law
October 20, 2026
FINRA Orders American Portfolios to Pay $1.6 Million Over Unit Investment Trust Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered American Portfolios, the broker-dealer later absorbed into Osaic, to pay more than $1.6 million in restitution and fines over failures to supervise financial advisors who repeatedly recommended that customers sell unit investment trusts (UITs) before maturity.

1792432258 Law
October 19, 2026
FINRA Bars Former LPL Broker Over Alleged $1.7 Million Customer Theft

The Financial Industry Regulatory Authority (FINRA) has barred former LPL Financial broker Rudy Anguiano after finding that he converted more than $1.7 million from two customers, according to AdvisorHub.