Woman accused of stealing over $1 million from home buyers
ALBANY, NY (WRGB) Attorney General Letitia James and the State Police say the owner of Valued Homes was arraigned on charges, accused of defrauding home buyers.
Sherrie Burton, 64, was arraigned on a 9 count felony complaint, charged with two charges of grand larceny and scheme to defraud.
She's accused of stealing over a $1 million dollars from at least 40 victims.
The complaint accuses Burton was using her business Valued Manufactured Housing, Inc. and Valued Homes to fraudulently solicit deposits, down payments, and even full cash payments from unsuspecting customers of modular and manufactured homes, using that money to make purchases on Amazon and Zynga games, as well as for other personal expenses.
“We will never tolerate any fraudulent behavior that takes advantage of hardworking New Yorkers,” said Attorney General Letitia James. “Instead of fulfilling the dream of homeownership, Ms. Burton allegedly defrauded homebuyers and used their savings for her personal expenses and gains. My office will continue to aggressively investigate and prosecute anyone who engages in activities that harm our residents.”
Prosecutors are accusing Burton of obtaining financing to purchase floor plan or display models, then selling them as new models to many customers, leaving the victims without legal title to the home and the lenders believing the homes were still on display at her showroom.
She's also accused of inflating deposit payments from victims.
Burton was arraigned today in Town of Moreau Justice Court, her bail was set at $75,000.