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A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know
The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding […]
Do You Think It’s a Tough Time to Invest? It’s Not When You Can Get Deals Like This
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1031 Exchanges
HomeForums1031 Exchanges1031 Exchange $126 Million Fraud Scheme
Johnson H.'s profile image
Johnson H.'s profile image
Johnson H.
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  • Investor
  • from San Francisco, CA
  • Member since Jul 25, 2010
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Johnson H.'s profile image
Johnson H.'s profile image
Johnson H.
Pro Member
  • Investor
  • from San Francisco, CA
  • Member since Jul 25, 2010
Connect
Johnson H.
Pro Member
  • Investor
  • San Francisco, CA
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1031 Exchanges

1031 Exchange $126 Million Fraud Scheme

Johnson H.
Pro Member
  • Investor
  • San Francisco, CA
Posted Nov 25 2014, 21:10

This is a pretty crazy story of one man using the escrow accounts of 1031 exchange to fund his lifestyle. Only after $126 million later does it all come crashing down. The conman never admits to fault!  Many lost their 1031 exchange money to this loser. Always do business with a reputable company!

American Greed Video

Bloomberg - Con Man Edward Okun Gets 100 Years for Fraud Scheme

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