Opendoor Labs Inc., headquartered in Tempe, Arizona, operated an online home buying platform that scammed sellers out of millions of dollars.
Opendoor claimed to pay more than the open real estate market when in fact, sellers lost thousands of dollars. Utilizing fraudulent practices, Opendoor enticed consumers to sell their homes outright below the market value.
Opendoor raked in millions of dollars in profits unbeknownst to its victims. Access the FTC press release here.