Financial fraudsters do not only harm their direct victims. The entire economy falls victim when real estate and other financial fraud strikes.
For example, North Carolina home developer Christopher Deans pleaded guilty to a scheme where he paid other bidders at foreclosure auctions not to bid on properties, artificially lowering the price paid for the property and indirectly lowering the values of all homes in the neighborhood. Continue reading
Former Minnesota Viking Stu Voigt and business partner Jeffrey Gardner went to trial in January for their role in a multimillion dollar real estate fraud case. They touted their firm, Hennessey Financial LLC, as an avenue for healthy real estate investment profits. Instead, it operated like a Ponzi scheme. Continue reading
San Diego businessman Courtland Gettel and Tucson attorney Jeffrey Greenberg pled guilty to a massive $33 million California fraud scheme involving wire fraud and mansions in San Diego suburbs La Jolla and Del Mar. Continue reading
Alicia Garcia appeared to be a selfless, upstanding citizen on the surface. Her Cuban rights activism gained the attention of Miami-Dade county elected officials, but they had no idea about her shady past. Continue reading
Everyone loves going on a nice vacation, and the feeling of coming home after a long trip is usually welcoming and relaxing. But one family in Littleton, Colorado came home to an unexpected surprise. They found another couple living in their house! Continue reading
Most people would think they are making a smart decision hiring a friend as a real estate agent. But 34 people found out the hard way that you can’t always trust your friends. In Irvine, California, an agent was caught in a real estate fraud scheme worth more than $4 million. Continue reading
Did you commit a real estate fraud related crime and are afraid you’ll lose your real estate license when you go to jail? If it’s a California real estate license, then don’t worry. Apparently lots of agents convicted of crimes still have their license and are legally permitted to still practice real estate. That’s right, the California agent you hire may be convicted of stealing from his previous client. Furthermore, he may currently be on probation. Technically, he could also be in jail and legally practice real estate in California. So, what does the State of California say? Basically they say “Who cares?” When you hear the Real Estate Department spokesman, Tom Pool, say things like, “If the person is headed to jail, it doesn’t necessarily make sense to use the department’s limited resources to revoke a license,” and refer to the problem as “a resource issue.” He added, “We’re very busy and very involved.” Continue reading