1031 exchange: Real Estate Investment Goes Bust - Real Estate News - Mountain Home, ID
- 10/05/07 08:15 AM
I'm not quite sure how to handle this (true) story. I'll try to do so with sensitivity and dignity but..... Several Boise investors were among those victimized in a $95 million dollar scam where a "1031 Exchange Accommodator" (more about this later) took the investors' money to purchase businesses for itself - specifically breast implant manufacturers in Great Britain and France. The company, Arrow 1031 Exchange (a subsidiary of Southwestern 1031 Exchange) allegedly lifted and separated the money from the victims over a period of several years but were able to repay accounts until the breast implant industry went flat. In … (1 comments)
I'm not quite sure how to handle this (true) story. I'll try to do so with sensitivity and dignity but..... ;)
;)
