Tampa Executives Arrested in Alleged $152 Million Investment Scheme
Two Tampa executives, Brandon "Dutch" Mendenhall and Amy Vaughn, founders of RAD Diversified REIT Inc., have been arrested and charged by the U.S. Securities and Exchange Commission for allegedly orchestrating a $152 million investment scheme. The scheme, which operated from…
Tampa St. Petersburg, FL, August 19, 2026 —
Tampa, FL – Two executives at RAD Diversified REIT Inc. have been arrested and charged by the U.S. Securities and Exchange Commission (SEC) in connection with an alleged $152 million investment scheme. Brandon “Dutch” Mendenhall and Amy Vaughn, founders of the company, are accused of defrauding more than 5,500 investors.
The alleged scheme began in November 2019. According to the SEC, Mendenhall and Vaughn misrepresented key aspects of their company to investors, including its profitability, stock value, and liquidity. Investors were reportedly told their investments were performing well, while in reality, funds raised were allegedly used for extensive personal expenses by the executives.
These alleged personal expenditures included the purchase of private jets, jewelry, visits to nightclubs, and funding of gun ranges. Simultaneously, investors who attempted to redeem their investments faced difficulties, according to the charges.
RAD Diversified REIT Inc. owned properties located in Hillsborough, Pinellas, and Pasco counties. The company is now facing bankruptcy proceedings.
In addition to the SEC charges, the Florida Attorney General’s Office is conducting a separate investigation into RAD Diversified REIT Inc. for potential Ponzi scheme activities. The total amount alleged to have been raised through the scheme is $152 million.
The names of the specific investment products or the exact timelines of the alleged misrepresentations were not provided. Information regarding any legal representation for Mendenhall and Vaughn was also not immediately available.
Story summarized from the original created by By Mia Taubenblat, Times staff on www.tampabay.com, see more information here.
