PALM BEACH COUNTY, Fla. (CBS12) — A Boca Raton man is facing charges for a “bait and switch” scheme that duped 16 investors out of more than $410,000, promising extravagant returns on non-existent real estate deals.
The Florida Office of Financial Regulation (OFR) investigation began in November 2022 after the U.S. Securities and Exchange Commission (SEC) received complaints regarding Felipe Souza’s business, FAS Creative Concepts LLC.
According to OFR reports from investors, Souza, 27, claimed to offer a “high-yield investment opportunity” that guaranteed returns between 200% and 338%, along with a 100% money-back assurance…