Barry Landreth, a business professor who taught real estate finance and
development at the University of Southern California was arrested Friday on charges of swindling students and others in a real estate fraud. An FBI affidavit said Landreth stole at least $1.5 million in the first 10 months of 2005, telling students and other investors he would buy land in Chicago and Las Vegas and then
sell it for large profits. Instead, he transferred all the money into his personal account without buying the land.
Will this be on the final?
If found guilty he will be sentenced to six years of having to sit through presentations for time-share deals in Florida.
Not only did he do this to his students, but his father also! His father who is the preacher at Pleasant Grove Baptist Church in NC was also part of his plan. A father believing in his son summons members of the church and life long aquaintences to buy into his performance. His father still believes he was set up and everyone will get their money. This was for the Myrtle Beach Project……. still no returns!!!!