Investors in Airbnb Arbitrage Business Allege They Were Defrauded

A company called Hands-Free Automation (HFA) has been accused of improperly relisting properties on Airbnb at higher prices after taking listings from hotel and short-term rental sites, according to a lawsuit filed in February. HFA founder Anthony Agyeman allegedly promised investors returns in 3-6 months for $20,000-30,000 investments in owning stakes in Airbnb listings. However, Airbnb prohibits the practice, and HFA has not been authorized by property owners, CNBC reported this week. The Federal Trade Commission has accused similar companies previously of making false promises of profits. Airbnb said it was unaware of contact from regulators regarding HFA.

Read more of this story at Slashdot.