These articles remind me of three things.
1. Make sure you regularly consult your attorney to ensure you are following the law – things change often and you never know when you might inadvertently be doing something illegal. (see HB1823 post).
2. Always double check everything when buying property. There have been a number of times when we were ready to purchase a property and “dug a little deeper” to find inflated comps (prices listed in MLS were not the true selling price), phony appraisals, and inspections that didn’t hold up. Remember – feel free to trust the seller, but always, always double check what they tell you!
3. DO NOT think that you can commit fraud and get away with it. “The truth will always find you out”. No one is above the law and the penalties can be stiff. I’m sure Bernie Ebbers never thought he’d spend a day in jail. Given the choice I’m sure he would take his lumps from the street rather then spend time behind bars.
Former Chicago Title CEO Pleaded Guilty
NJ Man Charged With Conspiracy in $30M Real Estate Fraud Case
Phony Real Estate Investor Behind Bars
Decatur Man Jailed in Real Estate Fraud Case
Hearing Held in Real Estate Fraud Case