Adam Boroughs gained quite a reputation as a cheap hustler and thief while in California. He ruined peoples lives here with dishonest scams during the real estate boom.
The two hustles he became known for were:
1) Deposit and Fee Rip-off. He would take deposits for property sales, then when the deal
inevitably fell through, he would convert the deposit for fees (through argument, denial and
fine print in the agreement).
2) Remodel Scam. Would "help" people buy investment property, then take money for remodeling
and never complete the remodel jobs.
I fell victim to the latter, in the sum of $27,000.
He found potential investor victims through internet ads, blogs and telemarketing.
A fellow investor and friend told me tonight that he saw some information on Adam Boroughs on ripoffreport. [continued below]....
.....com. I was amazed to find that Adam Boroughs is now in Minnesota doing the same thing. Telemarketing scams and real estate rip-off's. He probably has a new wife too, since the old one dumped him because of his lack of character.
My recommendation is to avoid doing business with him in any way, shape or form - no matter what he says. He simply does not honor his agreements then starts the old "plausible deniability" routine that any experienced investor has heard from low-level real estate hustlers.
Do your due diligence. Adam Boroughs has been written up, both directly and indirectly, in many publications around Orange County, including the Orange Country Register, OC Weekly, OC Crime Beat, LA Times and others. There are many sources to verify your investigations.
We hear that Adam Boroughs (and possibly his wife) are working with a company called Cap Publishing Company in Minnesota. We also understand he is claiming to be an "Experienced Executive, Visionary Entreprenuer and Privateer for Partnership" when it comes to business. Don't believe it for one minute!
He also claims to have taken a number of companies public. Dig into those claims more deeply, I'm sure the SEC would have a few things to say about that.
I may take further action against Boroughs, but I hope to help people from making the same mistakes I did.