Dentist Richard Malouf Builds Backyard Water Park While Charged With Massive Fraud

Before you go, we thought you'd like these...
Richard Malouf backyard water park

A Texas dentist charged with defrauding state taxpayers of tens of millions of dollars in a Medicaid scam is using his allegedly not-so-hard-earned bucks on something useful: building a full-fledged water park in his backyard.

Richard Malouf backyard water parkAccording to the Texas attorney general, Dr. Richard Malouf raked in millions by putting braces on children who didn't need them and filing false claims under Medicaid. Malouf also seems to have a history of not paying bills: There are liens against his Dallas mega-mansion totaling $112,000 for unpaid work on the home, and he owes a banking firm $3.2 million for services rendered, according to local TV station WFAA.

In Texas, homes cannot be seized to make up for unpaid debt, which may be why Malouf is funneling his money into his estate. However, if it can be proven that Malouf used stolen money from falsified claims to fund his home projects, then his home could be seized. For the past six years, he has been contracting projects to double the size of his mansion. (The new wing is set to include a bowling alley, a gymnasium and a rock-climbing wall.)

41 PHOTOS
Massive Mansions: 10 of the Largest Homes in America
See Gallery
Dentist Richard Malouf Builds Backyard Water Park While Charged With Massive Fraud

Location: Peapack-Gladstone, N.J.
Square feet: 50,000
Price: $4.9 million

Considering how much space you get with this opulent Louis XVIII-style chateau, we'd call this a steal! With rich stone and wood detailing, this gigantic mansion, which was built from 1898 to 1903, "awaits further renovation."

See the listing for more details.

Find homes for sale and for rent in your area.

The grand hallways and staircases harken back to the over-the-top styles of the late 19th and early 20th centuries.

See the listing for more details.

Find homes for sale and for rent in your area.

Warm wooden walls accented by a stoic stone fireplace mantel creates the perfect contrast in this stately residence.

See the listing for more details.

Find homes for sale and for rent in your area.

An understated pool that stretches seemingly for miles is the center of this home's serenity.

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Beverly Hills, Calif.
Square feet: 48,000
Price: $58 million

You might as well be living in a museum with that gorgeous pool and those fountains surrounding it! This home, which has a $58 million price tag that will put a serious dent in your wallet, is a true modern masterpiece.

See the listing for more details.

Find homes for sale and for rent in your area.

The expansive and open gallery hallways are sleek and modern with wooden paneling.

See the listing for more details.

Find homes for sale and for rent in your area.

The indoor pool is like a work of art, with its elaborate mosaic tiling.

See the listing for more details.

Find homes for sale and for rent in your area.

You may be watching the silver screen in the home's awesome movie theater, but you'll be bathed in gold, from the ceiling to the walls.

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Coconut Grove, Fla.
Square feet: 45,000
Price: $4.3 million

This gracious manor is a Southwestern-style gem in the Sunshine State. Enjoy rich, open interiors and expansive outdoor galleries in this amazing home.

See the listing for more details.

Find homes for sale and for rent in your area.

You'll get long, large rooms with wood-beamed ceilings and floor-to-ceiling windows for plenty of natural light in this home.

See the listing for more details.

Find homes for sale and for rent in your area.

Live like a statesman in this classically kingly bedroom.

See the listing for more details.

Find homes for sale and for rent in your area.

These cool columns give the home a stylistic "twist."

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Lake Tahoe, Nev.
Square feet: 38,000
Price: $75 million

The listing describes this juggernaut of a house as "Lake Tahoe's most prestigious property, with few rivals in the world." It's a magically secluded home consisting of eight buildings, including a main residence, art studio/conservatory and a gymnasium with basketball court.

See the listing for more details.

Find homes for sale and for rent in your area.

Just look at this living space! Gorgeous wood-beamed ceilings, intricate paneling, huge wood-framed windows -- what more do you need?!

See the listing for more details.

Find homes for sale and for rent in your area.

"Titanic" staircase, anyone?

See the listing for more details.

Find homes for sale and for rent in your area.

Now this home's wine cellar is for the best of connoisseurs. It has a beautiful stone ceiling, and luscious wood paneling envelopes the storage units.

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Orono, Minn.
Square feet: 32,461
Price: $24 million

This magnificent mansion sits on 13 acres and commands 360-degree water views atop Bracketts Point, the most desirable location along Lake Minnetonka. Need a little action along with this serene escape? Downtown Minneapolis isn't far.

See the listing for more details.

Find homes for sale and for rent in your area.

Exquisite flooring glows throughout the home, and glamorous archways line the hallways and rooms.

See the listing for more details.

Find homes for sale and for rent in your area.

Can't you imagine yourself in this room throwing smoky, 1920s-style flapper parties with a musician playing the blues on the piano?

See the listing for more details.

Find homes for sale and for rent in your area.

A sunken Jacuzzi surrounded by beautiful murals just off one of the hallways? We'll dive right in!

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Atlanta
Square feet: 30,000
Price: $9 million

A real Georgian peach, this home has 18-foot iron front doors, a gourmet kitchen, wine cellar, cigar room and a terrace-level bar modeled after the Ritz-Carlton.

See the listing for more details.

Find homes for sale and for rent in your area.

Feel like Scarlett O'Hara from "Gone With the Wind" descending down one side or the other of this exquisite double staircase. With this home, you'll never go hungry for prime real estate again!

See the listing for more details.

Find homes for sale and for rent in your area.

The detail work in this gourmet kitchen is astonishing, with a unique ceiling inset for two gorgeous chandeliers.

See the listing for more details.

Find homes for sale and for rent in your area.

The home even has its own putting green!

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Newport, R.I.
Square feet: 27,000
Price: $4 million

This massive home is known as the Belcourt Castle and was one of the many ostentatious homes of the Belmont and Vanderbilt families. Just wait until you see how lavish the interiors are...

See the listing for more details.

Find homes for sale and for rent in your area.

The home's grand banquet hall is something out of a Gothic cathedral.

See the listing for more details.

Find homes for sale and for rent in your area.

You'll be sleeping in nothing less than the lap of luxury in the home's enormous master suite.

See the listing for more details.

Find homes for sale and for rent in your area.

The mansion is currently both a museum and home. Hope you like visitors!

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Nahua, N.H.
Square feet: 26,528
Price: $2.3 million

This home is "a rare example of Beaux Arts Classical design," according to the listing. An addition was built onto the home in 1947, which became Mt. St. Mary's, a mixed-use space with classrooms and living quarters.

See the listing for more details.

Find homes for sale and for rent in your area.

With this expansive ballroom, it's easy to imagine this home as a hub for entertainment.

See the listing for more details.

Find homes for sale and for rent in your area.

The home boasts much of its original detailing, such as this beautiful wooden banister.

See the listing for more details.

Find homes for sale and for rent in your area.

The home is awash in beautiful cherry wood.

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Greenwich, Conn.
Square feet: 26,415
Price: $23 million

In the hoity-toity playground of the rich and even more rich, this estate has two gated entrances that lead to more than 8.7 acres of lush greenery. Not satisfied with this home's measly 26,000 square feet? There's an approved building site on the land where you can add on to the home until your heart's content.

See the listing for more details.

Find homes for sale and for rent in your area.

Imagine the immaculate white walls of this pristine home as a blank canvas, ready for you to create your own art of living.

See the listing for more details.

Find homes for sale and for rent in your area.

From bright white to dark, soothing wood.

See the listing for more details.

Find homes for sale and for rent in your area.

The kitchen is a chef's dream -- but we love it's style, mixing copper tones with clean, white walls.

See the listing for more details.

Find homes for sale and for rent in your area.

Location: Tucson, Ariz.
Square feet: 25,000
Price: $12.95 million

It's no mirage: This desert manse is truly an oasis in the sand. You'll get jaw-dropping views of mountains and canyons from this home with eclectic wood and stone styles.

See the listing for more details.

Find homes for sale and for rent in your area.

This expansive living room is an entertainer's mecca.

See the listing for more details.

Find homes for sale and for rent in your area.

Another are of the house has a completely different style, with neutral colors and a classy staircase with glass railing.

See the listing for more details.

Find homes for sale and for rent in your area.

Bonus: The home has an outdoor fire pit for fun under the stars!

See the listing for more details.

Find homes for sale and for rent in your area.

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

The backyard water park is already taking shape. A 5-foot-wide "Lazy River" lined in concrete is currently under construction, and three-story water slides are being erected. At one point, the water-park plans reportedly called for zig-zagging water slides to weave in and out of the home's upstairs windows, where there would be points of entry to the slides from inside.

According to real estate columnist Candy Evans, the size of Malouf's water park could trump Celine Dion's famous water world behind her Jupiter, Fla., estate.

"Frankly, it borders on being obscene," said attorney Jim Moriarty in comments to WFAA in July. Moriarty, who is part of a consortium of lawyers bringing a false claims lawsuit against Malouf, added: "The taxpayers of the state of Texas paid to build that house and are paying to expand that house for a guy who claims to have made his money treating the people of Texas."

Malouf's attorneys have not commented to the media about the accusations against the embattled dentist.

To make matters worse, the water park that Malouf is adding to his home likely won't even boost the home's value, Evans told WFAA.

"Even a swimming pool now is looked at as something that will lose value," Evans said. "It's going to be a huge negative for the property. The neighbors are distressed because they don't want to look at Wet 'n' Wild."

Talk about money down the drain.

Perhaps Malouf is fighting to compete with this outrageous water park behind a home in Boulder City, Nev.




See also:
Foreclosure Scam: 530 Charged for Allegedly Defrauding 73,000 Homeowners

How to Spot a Real Estate Scam
When Contractors Stiff Homeowners: How to Make Sure You're Hiring the Right Person


More on AOL Real Estate:
Find out how to
calculate mortgage payments.
Find
homes for sale in your area.
Find
foreclosures in your area.
Find homes for rent in your area.

Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.
Read Full Story

Find a Home

Buy
Rent
Value
Powered by Zillow

People are Reading