Blind Item Recap: Connecting the Dots, Meet Adam Lafavre

by Alex Stenback on September 4, 2007

Regular readers will remember this little blind item we published a few months ago:

What prominent, high rolling (love those rims baby!) Lake Minnetonka
dwelling (whose domicile is/was actually owned by another prominent
Minnesota business-person) real estate agent was recently visited by the FBI Federal Regulators.

Though there were some errors of fact in this original (hence the blind part – like we have staff to research facts, of all things) posting of what was at that time little more than rumor, we can confirm that our blind item referred to the same guy who happened to grace the front page of the Strib on Sunday. 

Meet one Adam Lafavre.  [Disclaimer: He may or may not have made the paper due to some nudging on our part of a particular reporter over at the Strib]:

For years, Adam LaFavre cultivated an image as a successful real estate dealmaker and a man of faith. He drove luxury cars, wore a Rolex watch and owned a $7.5 million mansion on Lake Minnetonka in Wayzata…The IRS’ criminal investigation division alleges that he helped raise
money for an illegal investment scheme that promised high monthly
returns in offshore banking programs at no risk.

Great work by Reporter Chris Serres, who mentions that his phone has been literally ringing off the hook since publication, and has been taking calls from dozens of people who were allegedly defruaded by Mr. Lafavre, or, have been caught in some other type of real estate fraud and are looking for answers and help.
Cloud of Fraud Hangs Over Investor [Strib]

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