Convicted Felon Accused of Altering Real Estate Contract to Halve Purchase Price

Allegations Against Wholesale Home Buyer

• 🏠 A Hernando County wholesale home buyer, Joe Fu, is accused of altering a real estate contract to reduce the purchase price of a home by half.
• ⚖️ The homeowners allege that after signing an initial contract for $75,000, Fu prepared a second contract with a reduced price of $37,500 and submitted only the altered version to the title company.
• ⚠️ Fu, a convicted felon, also allegedly placed a lien on the property, preventing the owners from selling it to anyone else.

Past Convictions and Military Impersonation

• 🎖️ Fu has a history of impersonating a veteran, including claims of being a decorated Navy Seal and SWAT team leader, which were found to be false.
• 🚨 In 2021, he was convicted of assault with a deadly weapon and possession of a firearm by a convicted felon, receiving 3 years of probation with a condition against impersonating a veteran.
• 🚗 Despite his past, Fu has started a new home buying business in Hernando County, with his company's website featuring an "American veteran" seal.

Discrepancies in Financial Documentation

• 💰 To prove his ability to close the deal, Fu provided a Wells Fargo bank statement showing $4 million, but discrepancies were found, including incorrect spacing in the date and an address from his previously evicted apartment.
• 🧾 Further investigation revealed that two months after providing the bank statement, Fu claimed indigence and applied for a public defender following a DUI arrest.

Resolution and Warning

• ✅ Fu eventually signed a release in late October, lifting the lien on the property six months after it was filed, which the homeowners' attorney described as the "right thing at the end."
• 🗣️ One homeowner advised Fu to find another line of work, stating that taking advantage of elderly people is "not the way to go."