- Todd Hill, 51, who was known as “Mr. Flip It’ on HGTV’s Flip It to Win It received four years in prison and was ordered to pay nearly $10 million after being found guilty of fraud
- Prosecutors were involved in multiple scams, including a Ponzi scheme
The former star of an HGTV television show has been ordered to pay nearly $10 million after being found guilty of fraud.
Todd ‘Mr Flip It’ Hill, who appeared on a show called ‘Flip It to Win It’, was jailed for four years and ordered to pay restitution of $9,402,678.43 to 11 victims .
He will also serve 10 years of probation after the end of his prison sentence.
According to the Santa Clara County District Attorney’s Office, Hill, 58, was indicted in November 2019 after an investigation revealed he had committed multiple frauds, including swindling investors out of money to finance his lifestyle.
On September 27, 2023, the fraudster was convicted of grand theft against all victims and admitted to major administrative enhancements.
Todd ‘Mr Flip It’ Hill, who starred in a show called ‘Flip It to Win It’, has been jailed for four years and ordered to pay restitution of $9,402,678.43 to 11 victims
On September 27, 2023, the fraudster (left) was convicted of grand theft against all victims and admitted to heavy administrative enhancements
Prosecutor Oanh Tran said ABC7 that Hill’s multiple scams included a Ponzi scheme that affected 18 homes in Silicon Valley.
“I think this is a major real estate fraud case – there are 11 victims here who are still dealing with the consequences,” Tran said.
Prosecutors said he was able to remain undetected while running the Ponzi scheme by taking an investor’s money intended to buy homes and instead using it to finance his lavish lifestyle.
To conceal the theft, Hill created false balance sheets and obtained loans using fraudulent information.
“He took money from an investor with whom he started a business and laundered the financial accounts over which he had full control.
‘The point was to buy a house, remodel it and sell it for a profit, but he would take the money given to renovate the house and spend it on luxury cars, vacations and parties, as he has declared.
“And to take that into account, he labeled it as a construction expense,” Tran told the station.
Prosecutors said he was able to remain undetected while running the Ponzi scheme by taking an investor’s money intended to buy homes and instead using it to finance his lavish lifestyle.
Flip It to Win It was a reality show on HGTV featuring “five teams of expert flippers” who “bid against each other on abandoned houses” that are then renovated and put on the market
To conceal the theft, Hill created false balance sheets and obtained loans using fraudulent information
Max Keech, one of Hill’s (pictured) victims, lost approximately $6 million after the scammer submitted fraudulent invoices and manipulated financial data to embezzle money from him
Max Keech, one of Hill’s victims, lost about $6 million after the scammer submitted fraudulent invoices and manipulated financial data to embezzle money from him, according to The Mercury News.
Prosecutors further said in a news release that one of the victims provided $250,000 for the renovation, but instead they found the property burned to the ground with no work needed.
According to court documents, most of the scams occurred in 2013.
“Businesses were closed, one victim lost his home, so the consequences of his fraud are far-reaching and span several aspects of life that these victims still face,” Tran added.
Flip It to Win It was a reality show on HGTV featuring “five teams of expert flippers” who “bid against each other on abandoned houses” that are then renovated and put on the market.
It aired for two seasons from 2013 to 2014.