U.S. Attorney: Michigan real estate schemer indicted for $1.1M in bankruptcy fraud

A real estate investor, who was previously charged in a $600,000 wire fraud scheme, has now been indicted for multiple counts of bankruptcy fraud totaling over $1.1 million, United States Attorney Dawn N. Ison announced today.

Ison was joined in the announcement by James A. Tarasca, Special Agent in Charge of the Detroit Field Office of the Federal Bureau of Investigation.

Sean Phillip Tissue, 37, of Social Circle, Georgia, and formerly of Rochester, Michigan, is charged in an indictment with multiple counts of concealment of assets, false oaths, false declarations, withholding recorded information, and a bankruptcy fraud scheme. Tissue is the owner of numerous companies, including Greystone Home Builders, Sycamore Homes, Sycamore Construction, Lenovo Homes, and Metro Detroit Home Solutions, On August 4, 2022, Tissue was previously charged in a criminal complaint with a wire fraud scheme whereby Tissue defrauded Israeli investors of over $600,000 in fraudulent real estate investments.

"This defendant used a number of apparently legitimate companies, sophisticated methods, and lies to defraud potential real estate investors, many from outside the United States. He then declared a fraudulent bankruptcy in an effort to avoid re-paying his victims." said United States Attorney Dawn N. Ison. "Today's charges demonstrate our commitment to ensure the integrity of our bankruptcy system."

"Investigating and prosecuting individuals who repeatedly make false statements to government agencies helps ensure the integrity of government processes," said James A. Tarasca, Special Agent in Charge of the FBI's Detroit Field Office. "This investigation sends a message that those who commit fraud while applying for relief from the government will be held accountable by the FBI and our law enforcement partners."

Tissue faces the following statutory maximum penalties: 5 years in prison, a $250,000 fine, and up to 3 years supervised release. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

An indictment is only a formal charging document and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government's burden to prove guilt beyond a reasonable doubt.

The investigation of this case is being conducted by the Federal Bureau of Investigation. Both the United States Attorney's Office and the Federal Bureau of Investigation wish to acknowledge and thank the United States Trustee's Office for its assistance. Assistant U.S. Attorney Craig Weier and Special Assistant U.S. Attorney Richard Roble are prosecuting the case.

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Original text here: https://www.justice.gov/usao-edmi/pr/real-estate-schemer-indicted-11-million-bankruptcy-fraud