Dec
Colorado Real Estate Broker Prison Bound
by Derek Weeks - Denver RealtorPublished in: Random Rants
Arvin Stanley Weiss is heading to prison for 7 years for his part in a real estate and mortgage fraud case. He was also fined $853,000.
between 1998 and 2002 he bought up dozens of low priced properties and then turned around and sold them to non-english speaking buyers for an inflated price. Now under normal circumstances this is called investing in real estate, however when you take these illegal imigrant home buyers and falsify documents to get the buyers approved with a new mortgage you are definately breaking some laws.
It is bad apple agents like this that makes a tough market for buyers and sellers even tougher. This reiterates my opinion that it is essential to chose the right company and real estate agent to represent you in any and all transactions.