WASHINGTON — Watching my grandmother, Big Mama, struggle to make ends meet, I came to understand the desire many people have to build wealth.

Unfortunately, people sometimes become mesmerized by smooth operators who promise to help them achieve their financial dreams. In some cases, these operators use religion to entice people into their schemes. In others, they use a community or professional connection. And sometimes they use race.

Frederick C. Lee Jr., founder of Financial Independence Group, markets himself as a self-made black man trying to help other blacks get rich. But he has only enriched some of his top lieutenants while using a network of associates to feed a mortgage loan scheme that has recently run afoul of regulators in two states.

Since I began investigating and writing columns on his operations two months ago, Lee and his Financial Independence Group have been ordered to stop all mortgage-related activity in Maryland. He'd already been ordered to stop originating loans in Georgia.

My reports have prompted a dozen former associates to come forward with their stories. They are tales of suspect business activities, multiple company names, and false relationships with other financial institutions.

These former salespeople, who paid $100 to join the company, said they wound up disillusioned by Lee — and in some cases by their own greed.

What I found was a suspect company pushing loans with unjustified high fees that put African-Americans deeper in debt while making only a few select black folks wealthy.

Neither Lee nor his attorney would respond to telephone calls or e-mails requesting comment for this column.

The men and women I interviewed who eventually left the organization said they didn't at first question Lee and his behavior because they were transfixed by the potential prosperity he offered them. They said they believed that Lee wanted to help blacks achieve financial security.

During recruitment presentations, prospects are pumped up with stories of how others have made lots of money. Top performers are rewarded in front of the audience. Financial Independence Group's Web site, which has been taken down since my columns began appearing, boasted that top salespeople received luxury cars — Range Rovers and Jaguars — and expensive Breitling and Tag Heuer watches.

Under Lee's direction, borrowers are encouraged to make the minimum payment and then put the difference into investments, such as stocks or mutual funds. Homeowners are left to figure out for themselves how to invest the money.

But Lee doesn't just lead black borrowers astray by pushing inappropriate mortgages. He attaches fees and prepayment penalties to the loans that would be classified as predatory by many consumer advocacy groups.

Over the years, he has operated as Debt Elimination Group, Debt Management Consultants and The Processing Center.

Six days after the Maryland Division of Financial Regulation ordered Lee and Financial Independence Group to stop all mortgage-related business in the state, a new company called CashFlo Strategies LLC was registered in Delaware.

Lee's business is now operating as CashFlo Strategies, according to company documents I've seen.

I don't see race in this story. It's about the color red.