<p>A former HGTV star was sentenced to four years in jail and ordered to pay back close to $10 million for committing real estate and financial fraud against 11 victims.</p>
<p>Charles “Todd” Hill, 58, of Los Gatos, star of “Flip It to Win It”, was remanded to jail last week. The show’s concept was that he bought dilapidated homes, fixed them up, and then sold them for a profit. Instead, Hill spent millions on overbudget remodels, laundered profits, and pocketed millions in fraudulently obtained money.</p>
<p>Hill was convicted last year of multiple fraud schemes, including scams perpetrated well before the show, such as a Ponzi scheme. Evidence showed that Hill spent the laundered money on a rented apartment in San Francisco, as well as hotels, vacations, and luxury cars.</p>
<p>“Some see the huge amount of money in Silicon Valley real estate as a business opportunity,” District Attorney Jeff Rosen said. “Others, unfortunately, see it as a criminal opportunity – and we will hold those people strictly accountable.”</p>
<p>Hill was indicted in November 2019, after a DA Investigation showed that he had committed multiple frauds against multiple victims. On September 27, 2023, he was convicted by plea of grand theft against all victims and admitted the aggravated white-collar enhancements. He was ordered to pay back restitution in the amount of $9,402,678.43 and serve 10 years on probation.</p>
<p>In one case, he diverted construction money for his personal use.</p>
<p>In another instance, he created a Ponzi scheme by taking an investor’s money budgeted to buy homes and, instead, used it to live lavishly. To hide the theft, he created false balance sheets and got loans using fraudulent information.</p>
<p>In another case, an investor toured a home for which he had provided $250,000 for remodeling and found it to be a burnt down shell with no work done on it.</p>
<p>Victims who spoke at the hearing said they were still suffering financial and professional damages from the fraud.</p>

PALO ALTO and DALLAS — AT&T has signed an agreement to expand its use of D-Wave's quantum…
SAN FRANCISCO -- Feathery, an AI operating and decisioning system for financial services, has raised…
FREMONT — Pebble says it has delivered more than 100 Pebble Flow travel trailers to…
SAN FRANCISCO -- General Compute, which bills itself as the world’s fastest inference neocloud, has…
SANTA CLARA AND SUNNYVALE – Intel Corporation and Fortinet announced a strategic collaboration to develop…
Ford announced that Apple Maps will be integrated directly into Ford’s upcoming Universal Electric Vehicle…