Guide to Real Estate Fraud

Metro Dream Homes – Charged with $70 Million Fraud Case

The company promised dreams come true with their catchy “Dream Home Program“, which took in more than a thousand investors. The primary suspects charged had the makings of a Madoff style life, lavish lifestyles, chauffeur driven fleet of cars and to polish their reputations,they make generous donations to charity. The mortgage scam covered a period from 2005 till 2007 that spanned a lot of lavish ad programs in areas the likes of Beverly Hills and other high end hotels. In the end, the true colors shone with the victim investors getting nothing more than a $70 million nightmare.
The Ponzi scheme that got $200,000 a-year salaries for each of the four investors who were finally found guilty of multiple counts of fraud, conspiracy to commit money laundering and other criminal charges. This shows the gravity of such scams and how gullible people are to fall into such schemes. the government is getting teeth in the form of hefty budgets to end such schemes that are continuing to victimize innocent people already taxed heavy upon by the recession. Thanks to the hard working people of government’s worldwide these people are being brought to justice in the never-ending battle between criminals and the many hard working people who they victimize.