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$70 Million Fraud Case Filed

May 8th, 2009 · No Comments

ponziscamsFour people involved in a Ponzi scam that defrauded over a thousand people are being persecuted for their crimes for their involvement in real estate fraud and many other similar offenses. The Metro Home Scam took on the money of investors promising revenues unheard of in the market which instead went into their pockets, funding their lavish lifestyles, fleets of chauffeur driven luxury cars and more. To cover their tracks, they make lavish and public donations to charitable organizations to sweeten the stench that lies within.
They were caught when investors tried to claim the benefits they were promised, getting the $70 million headache that surfaced as the authorities began to piece together their criminal activities. The landmark case is one of many that have been filed by the government as they try to crack down into the dirty world of these fraudsters who prey upon recession stressed people who put their hard-earned money into such schemes only to get utter disappointment when they should have been earning a tin of cash.

Tags: Information · News · Report

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