Posts tagged as:

fraud

Commentary

The Dramatic Increase In Mortgage Fraud: SubPrime Crisis Brings Out The Worst In People; Would The Death Penalty Stop It?

by Charles Feldman | September 23, 2009

WASHINGTON - SEPTEMBER 16: Federal Bureau of ...If you harbored any notion that the current economic crisis would somehow bring out the best in people–as we all come together like one of those old, warm and fuzzy “I’d like to buy the world a Coke” commercials, I’m afraid I have some very bad news for you. Well, actually, the FBI has the bad news, but I will pass it along.

A few days ago, FBI director Robert Mueller told the Senate Judiciary Committee that mortgage fraud cases that are being investigated by his agency are up roughly 63% just from a year ago! That’s sixty-three percent!!!!!

“The scheme have evolved with the changing economy, targeting vulnerable individuals, victimizing them even as they are about to lose their homes, ” said Mueller, as quoted in a New York Daily News article.

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Commentary

Older Americans Month And Scams (Loan Mods, specifically)

by Tom Koziol | May 8, 2009

Image by RobotSkirts via Flickr

The title of this post sounds like a contradiction in terms unless you are a scammer. I’m not talking about the Bernie Madoff type of scam but ones on a milder scale. I’ll let someone else write about brother Bernie and his shenanigans.
My thoughts on scammers turned into words all thanks [...]

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Real Estate News

Another Day, Another Real Estate Scammer Busted: $20M Scam Shut Down!

by Joshua Dorkin | February 4, 2009

It seems that you don’t have to look too far to find someone trying to scam the innocent these days. From Madoff on down, it feels like there is a white collar crook around every corner. The good news is that many of these people are getting busted . . . unfortunately, by [...]

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Economy

The Greatest Ponzi Scheme of All

by Richard Warren | December 22, 2008

Bernard Madoff swindled clients to the tune of $50 Billion in the recently revealed “ponzi” scheme. How could this have happened? How could supposedly sophisticated investors have been duped on such a grand scale?

It seemed that either no one was watching or the warning signs went unheeded. But you couldn’t blame them, nothing like this [...]

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Economy

More Mortgage Fraud? FBI Investigates Bailout Firms: CNN

by Charles Feldman | September 24, 2008

In a move that should surprise no one, the FBI, says CNN, has opened an investigation into Fannie Mae, Freddie Mac, Lehman Brothers Holdings Inc., and American International Group, the four companies now at the very heart of the proposed $700 billion dollar theft–I mean taxpayer bailout–plan being pushed by Bush and gang in Washington.
This [...]

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Foreclosures

Investors Working on Foreclosure Deals: Avoid Fraud Suspicion – Disclose!

by Jim Watkins | October 27, 2007

The Attorney General for the State of Texas has issued numerous public warnings to homeowners facing foreclosure. The warning is simple really… “Do not sign the title to your house away to anyone claiming they can help.”
Those warnings hit me pretty good since a large portion of my business involves homeowners in pre-foreclosure. It is [...]

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Commentary

Real Estate Agent Steals $3 million and Keeps Her Real Estate License

by Joshua Dorkin | January 23, 2007

Last week we talked about the emergence of the selfless real estate agent. Today, we’re going to look at a piece of dirt who makes the rest of the agents out there look bad.

A real estate broker in Shakopee, Minnesota was charged with with 15 felony counts of identity theft; in addition, she [...]

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BiggerPockets News

BiggerPockets Helps “Victims” of Real Estate Scandals

by Joshua Dorkin | October 12, 2006

BiggerPockets is proud that we’ve been able to provide a forum for possible “victims” of what some claim to be a massive real estate fraud. For the past few months tens of thousands of current and possible investors have flocked to BiggerPockets Forums to exchange information and help one another stay abreast of fast [...]

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Real Estate Fraud

Beware of Real Estate Scammers Rushing You to Sign

by Joshua Dorkin | September 29, 2006

In a story released today by USA Today, we learned about a new fraud that had been taking place in Virginia, where investors were tricked into signing documents to purchase properties that had been appraised at inflated values.
Countrywide Financial, who is suing the man who allegedly orchestrated the fraud, Robert Penn, “claims the [...]

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Commentary

Sunday Real Estate Wrap Up

by Joshua Dorkin | August 27, 2006

After a long day of rest, I’ve emerged from my sports cocoon to bring you my Sunday wrap up. I’d like to first congratulate Tiger Woods for his 4th straight tournament win, and I want to wish Andre Agassi good luck in the final tournament of his career. Ok . . . back [...]

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