Fix-and-Flipper Charged with $1.4M Real Estate Fraud Scheme

Alleged con man Sean McClay accused of defrauding 17 real estate investors in Colorado

Apr. 13, 2026 at 11:11am

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An extreme close-up photograph of a crumbling, damaged front door with a legal notice attached, conceptually illustrating the aftermath of a real estate investment fraud scheme.A wave of real estate fraud exposes the risks of trusting unscrupulous 'fix-and-flip' operators with investors' money.Aurora Today

Sean McClay, a 54-year-old Aurora resident, has been indicted on 18 felony counts of securities fraud by a statewide grand jury in Colorado. The Colorado Attorney General's Office alleges that McClay lied to investors about his criminal past and pocketed $1.4 million of the $3.9 million he raised from 17 real estate investors between 2021 and 2022 for his fix-and-flip business.

Why it matters

This case highlights the risks of investing with individuals who have a history of fraud and financial crimes. It also raises concerns about the oversight and regulation of the real estate investment industry, where unsuspecting victims can fall prey to sophisticated con artists.

The details

According to the indictment, McClay raised $3.9 million from investors, spending $1.5 million acquiring real estate and $947,000 on property renovations, but kept $1.4 million, or 36% of the funds, for himself. The indictment alleges he spent this money on personal expenses and cash withdrawals. McClay was previously charged in 2017 with stealing from a high school football booster club in Wisconsin and embezzling from a machine shop, pleading guilty to a misdemeanor and avoiding prison time before moving to Colorado.

  • In 2017, McClay was charged with stealing from a high school football booster club in Wisconsin and embezzling from a machine shop.
  • Between 2021 and 2022, McClay allegedly raised $3.9 million from 17 real estate investors in Colorado.
  • McClay was indicted by a statewide grand jury in Colorado in March 2026 on 18 felony counts of securities fraud.

The players

Sean McClay

A 54-year-old Aurora resident who was indicted on 18 felony counts of securities fraud for allegedly defrauding 17 real estate investors out of $1.4 million.

Sandi Hewins

A realtor who invested $50,000 with McClay and lost the money when his fix-and-flip projects fell apart.

Creighton Bildstein

The principal at the commercial real estate capital advisory firm PlattPointe Capital in Denver, who lost his full $100,000 investment with McClay.

Colorado Attorney General's Office

The state agency prosecuting McClay for the alleged securities fraud scheme.

Lake County

A county in Colorado that accused McClay and his former company, Peak 360 Services, of overbilling taxpayers $430,000 during the construction of a fire station.

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What they’re saying

“If any of us would have had the brains just to Google his name, we would have seen previous articles about him stealing. But none of us had the brains to do that.”

— Sandi Hewins, Realtor

“I don't know how all the money for these properties could have vanished in thin air.”

— Creighton Bildstein, Principal, PlattPointe Capital

“I just never thought anybody would do anything like this, and when I saw the realm of it, it was mind-boggling. We're talking millions and millions of dollars.”

— Sandi Hewins, Realtor

What’s next

The judge in the case will decide on Tuesday whether or not to allow Sean McClay out on bail.

The takeaway

This case highlights the importance of thoroughly vetting real estate investment opportunities and individuals, even those with connections in the industry. It serves as a cautionary tale about the risks of trusting charismatic con artists who prey on unsuspecting victims.