Dakota County Attorney James Backstrom announced that James Michael Hayden, age 36 of Burnsville, has been charged with a series of crimes relating to mortgage and home foreclosure scams from 2011-2013. Specifically, Hayden has been charged with three counts of Theft by Swindle of over $35,000 (all felonies).
These charges relate to allegations that Hayden convinced various individuals and friends he had met through business contacts and through his children’s participation in various sports and activities, to invest with him and his business (JMH Properties LLC) in apparent efforts to purchase various homes subject to foreclosure in Burnsville, Lakeville and other communities in the Twin Cities. Hayden promised these individuals profit sharing related to their investments once the properties had been purchased and later sold. In most of these cases, Hayden and his business never purchased the properties for which these investments were intended. In one case, Hayden convinced a homeowner whose home was subject to foreclosure to sell it to a third party investor, promising profit sharing the homeowner never received and money up front, some of which was never received. In another case, Hayden had a contractor who had invested with him on two properties also perform roofing work on a home of one of Hayden’s relatives for which the contractor never received payment. Hayden returned little or none of the initial investments made by nine victims who have been identified to date. In total, between $200,000 and $250,000 is alleged to have been stolen in these schemes.
Additional facts pertaining to this case can be found online at Criminal Complaint Search
. If in custody, a mug shot can be viewed at Inmate Search
Backstrom commented: “These are significant economic crimes and this represents the 20th theft-related case of over $50,000 which has been charged in Dakota County in the last five years.”
Backstrom thanked the Burnsville Police Department for their thorough investigation of this case. Anyone else who may have had business arrangements with Hayden in which they believe they may have been victimized are encouraged to contact the Burnsville Police Department at 952-895-4600
Hayden made his first appearance in court today and bail in the amount of $100,000 without conditions ($50,000 with conditions) was set by Dakota County District Court Judge Joseph Carter. Hayden’s next court appearance is set for August 5, 2013 at 1:30 p.m. in Hastings.
If you have questions, contact James Backstrom at 651-438-4438
*Criminal charges are not evidence of guilt. A defendant/suspect is presumed innocent unless and until proven guilty.