JACKSON Tenn — The Jackson Police Department announced that a Medina, TN man has been indicted by the Madison County Grand Jury on charges of Felony Theft.
According to police, 29-year-old Michael Pappis “scammed” a victim out of money and property in a bogus “lease-purchase” scheme.
Authorities say the victim came forward in December of 2013. According to the victim’s complaint, an agreement was made between Pappis and the victim to lease-purchase a home on Countryside Drive in Jackson. The victim says she provided a $7000 down payment and made monthly payments on the home to Pappis company, 300 Properties.
The complaint alleged that about a year into the agreement the victim was notified of foreclosure proceedings on the property.
According to investigators, Pappis was not the rightful owner of the property. Investigators notified the owners of the property and according to their investigation the home owners allowed Pappis to manage the property as rental investment but never agreed to a lease-purchase agreement.
Investigators presented this information to the Grand Jury in August, and an indictment was returned charging Pappis with felony theft. He had been wanted since August on the outstanding indictment.
On Thursday, Oct. 23, police say they received information that Pappis was in Jackson and allegedly trying to defraud another buyer. An undercover Jackson police officer, posing as a potential buyer, contacted Pappis and requested that he show a home Pappis was attempting to sell.
According to the news release, the undercover officer met with Pappis at an advertised property on Clairpointe Drive. Pappis entered into an agreement to sell the undercover officer the home, which Pappis didn’t own. Subsequently, Pappis was taken into custody for the indictment and an outstanding violation of community corrections’ warrant.
Jackson attorney Charles Byrd, who specializes in real estate, says, “this story and other recent news about victims of property scams emphasize how important it is to include someone experienced, like an attorney, to review all documents and do proper due diligence before entering any agreements”
Pappis remains in custody at the Madison County Jail. He will appear in Circuit Court on the indictment and a community corrections’ warrant on a day to be determined.
Pappis also will face an additional charge for Thursday’s attempt to commit theft involving the undercover officer.
The Jackson Police Department has received similar complaints involving Pappis in the past. If you feel that you’ve been a victim of theft or fraud, then you’re asked to contact the Jackson Police Department’s Organized Crime Unit at 731-425-8584 and speak with Investigator Ashley McCullar.
