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  1. #1
    Join Date
    Feb 2011

    CPAConstruction.com and Mike Otis are a total scam

    I sent $4,500 to this guy Mike Otis who claims he has a "Fund" that he does business with and they approved my deal to be done. After the money was sent he never setup a conference call or any formal communication with this fund. He put a guy named "rudy" on speaker in his car, that was his conference call. He is the most unproffesional person I have ever dealt with in the mortgage business. He is a total liar and scam artist and don't give him one penny of your money. He does not return calls or e-mails and he is just in it to get your fee. He is a licensed CPA in the State of Florida, which is a total joke. Florida has guys like him running aroung stealing peoples money and doing absolutely nothing in return for it. He still hasn't even had the guts to tell me he can or can't do the deal, all he does is lie, lie and lie more. Stay away from this joker!!!!!!!!!!!

  2. #2
    Join Date
    Feb 2011



  3. #3

    Re: CPAConstruction.com and Mike Otis are a total

    The Boulder Ridge Development in New Hampshire was a failed and stalled development project for over one year prior to landing the file on our desk. We did not create the problem we only offered to provide a solution. When the project was presented we had a Personal Financial Statement that outlined sufficient assets to secure the loan. However, John Cannon refused to put up those assets as collateral and John opted not to stand behind his project.

    In the end, the Projected Financial Statements and Cashflow Models were not supported by adequate Comparable Sales to support the Financial Projections.

    Our phone records and email documentation clearly support returning all calls the same day or with-in a 24 hour period.

  4. #4

    Re: CPAConstruction.com and Mike Otis are a total scam

    Mike Otis defrauded me too. I was told he would not complete the deal without his own inspector. He inflated values via false appraisals and bogus inspection. Lie after lie, pretending to work *for* me as an independent broker.

    Why would I *want* to buy a home that is worth FAR less than I am paying??? Oh yeah, so the broker can get a bigger kickback and commission!

    Mike Otis left the state after this last deal in 2006. He disappeared for about 3 years, possibly to GA. I don't know. It appears he uses aliases and business websites in different parts of the country peddling his "financial services" products. His name will be listed using different ages and multiple states if you try to find him. I contacted the FBI trying to find out what his "sentence" was and have gotten no response. It appears since having "plead guilty" in 2009, that he still operates his cons and defrauds others. I don't know if he ever went to jail or not, but the SOB owes me some restitution! Beware of anyone with this name in financial services and insurance industry. He likes to pretend that he is a local in your neighborhood... then skips town after defrauding so many, via using his "contacts" and "buddies."

    Mike Otis is a con man. Don't take the bait. Report him to the FBI if you find him trying to do such deals originating from his home office or car or via "friend" hookup.


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