Florida Attorney General James Ulthmeier has issued a subpoena against RAD Diversified REIT Inc., its subsidiaries and its owners, internet personalities Brandon “Dutch” Mendenhall and Amy Vaughn. This comes on the heels of an ongoing investigation over an alleged Ponzi Scheme and the violation of Florida’s Deceptive and Unfair Trade Practices Act.
“Our office has received complaints that a popular internet duo selling real estate investment services through their fund is pocketing cash instead of buying properties as advertised,” said Attorney General James Uthmeier in a July 8 press release. “This appears to be a Ponzi scheme, and with several individuals claiming they’ve been exploited, we are investigating to ensure Floridians are not being deceived by greedy fraudsters.”
Prior the investigation
After becoming business partners in 2023, Mendenhall and Vaughn fronted a joint social media platform, centered around a series of online seminars helping novice investors navigate the world of real estate. Additionally, the Tampa-based pair used these opportunities to pool investor funds and invest in Florida real estate.
Along with their digital presence, Mendenhall and Vaugh are also known for their periodic in-person seminars that promote RAD Diversified REIT, Inc. and its subsidiaries as a method for Florida residents to invest in property they otherwise would not be able to afford outright.
Initial investor concerns and investigation
According to Ulthmeier’s press release, problems arose when investors complained that they were not able to collect the proper returns or financial gains due to roadblocks put in place by Mendenhall and Vaughn.
Ulthmeier seeks to use both the investigation and subpoenas to collect information about the various complaints and customers involved, as well as determine whether or not the company actually owns real estate equivalent in value to the amount invested by RAD Diversified REIT customer
Ulthmeier’s specific subpoena requests
The subpoena – which requires all RAD Diversified REIT documents to be made available by July 18, 2025 – requests all communications, records, complaints and copies of each offering statement, prospectus or other investment opportunities offered to customers and investors.
In addition to customer-related inquiries, Mendenhall and Vaughn are required to submit all operational and procedural manuals, training manuals, banking and financial statements, copies of marketing materials and documents detailing the stockholders of RAD Diversified REIT and its holdings.
Florida Deceptive and Unfair Trade Practices Act (FDUPTA)
The Florida Deceptive and Unfair Trade Practices Act (FDUPTA) aims to prevent practices such as false advertising, misleading sales pitches, failure to disclose important information about a product or service and in the case of Menendhall and Vaughn–Ponzi Schemes.
Under FDUPTA, any alleged violation or claim made by the investor’s party against a company alleging the misuse or withholding of funds empowers the Attorney General to take direct legal action.
Legal counsel and proceedings going forward
Moving forward, Florida Special Counsel Ellen Lyons and Senior Assistant Attorney General Miles Vaughn will be handling all investigation proceedings with the latter specializing in cyber fraud investigations, unfair and deceptive practices and consumer protection enforcement.
As of July 9, 2025 no official charges have been filed against RAD Diversified REIT Inc., its subsidiaries, or Brandon “Dutch” Mendenhall and Amy Vaughn, though the investigation remains ongoing.
