Michigan real estate investor pleads guilty to stealing $3 million in wire, bankruptcy fraud scheme

A Michigan real estate investor accused of stealing more than $3 million in a wire and bankruptcy fraud scheme pleaded guilty Tuesday.

Sean Tissue, 37, was the owner of numerous companies, including The Centureon Companies LLC, Greystone Home Builders LLC, Sycamore Homes LLC, Lenovo Homes LLC, NROL Holdings LLC, Phillip Ryan LLC, Boardwalk Heights B2R LLC, NROL Property and Investment LLC.

Tissue, who now lives in Georgia but previously lived in Rochester, Mich., is accused of committing fraud from 2015 through 2021. During this time, authorities say he made, or caused others to make, false and fraudulent statements to get potential investors from Israel, India, South Africa, and other countries to invest in real estate in Michigan, Texas, and other states.

Authorities say he would provide investors with fake deeds, fake wiring instructions, fake bank statements, fake leases, and fake inspection reports. He also gave them a fake name, Sean Ryan.

Through this scheme, he was able to steal millions, authorities say.

From November 2017 through May 9, 2019, Tissue also engaged in a bankruptcy fraud scheme by fraudulently withholding recorded information pertaining to his assets and financial affairs from the Bankruptcy Trustee after filing for Chapter 7 bankruptcy, according to authorities. He was arrested on a complaint charging him with wire fraud and has been in custody ever since.

"Sean Tissue orchestrated an elaborate scheme to defraud individual investors. He tried to avoid repaying those investors by declaring bankruptcy, and his lies and deceits continued in the bankruptcy proceeding," said U.S. Attorney Dawn Ison.  "This guilty plea is an important step towards holding Mr. Tissue accountable for his actions and reflects my office’s commitment to prosecuting financial crime and protecting the integrity of the bankruptcy system."