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More scam artists busted!

More scam artists busted!
by Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

Mortgage fraud. We know its out there. All professionals need to be aware of it and the various tricks the scam artists conjure up. See this article from today's Arizona Republic. Various items to note....real estate agent, family members, old, young are all involved. Phony SS #'s, incomes, assets and bank accounts. Fraudulent financing for 16 homes. 11 automobiles. Extremely bold

This isn't 'petty' crime. The IRS was involved. The secret service was involved. I can't help but try to remind everyone...if it seems too good to be true, it probably is! Be vigilant with all your transactions. If something doesn't seem right, ask your colleagues to give it a second look. Lets do our part to minimize the impact of such schemes to our industry!

Thanks for Reading :)

Kaushik Sirkar, Chandler AZ REALTOR
http://www.homesphx.com

Posted by Kaushik Sirkar on 05/27/2007 01:16 AM

Comments (8)

arizona real estate, chandler real estate, phoenix real estate, mortgage fraud

This post has been included in Arizona Information Maricopa County, AZ Information Phoenix, AZ Information

8 Comments on More scam artists busted!

MAY

2007

I am glad they are cracking down on these folks. The sad part is they will probably get a slap a weak penalty.

These sorts of things need to be cracked down on. More and more seem to be coming out of the woodwork.

Carolin Benjamin
Bob and Carolin Benjamin
The Benjamin Team
Keller Williams Integrity First Realty
Gold Canyon Arizona

If Mortgage Brokers know someone is watching over them, why do they still do this sort of thing? Are they that GREEDY or that STUPID (or maybe both).

Sometimes both Chuck, oft-times both. In any industry, the greedy & the stupid will come out to play...

The sad part is that people who commit crimes like this truly believe there is no victim and that they're not doing anything wrong. The bank is the victim! I'm glad to see they're cracking down on this...everywhere.

MAY

2007

I find it unbelieveable that this is still so common - lock them up for a very very long time I say.

MAY

2007

I agree with Chuck, people in Real Estate have to have the mentality that someone is watching them in everything they do, not just for their benefit, but for their clients!

Thanks for the comments everyone. It will truly take a strong effort by all 'legitimate' members of this industry to try and minimize the effects of criminals. In addition, like a few of you say, it is essential that we apply much harsher penalties on the perpetrators!

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