Nevada Union Newspaper Article on Sentencing

http://www.theunion.com/news/crime/defendants-in-gold-cuntry-lenders-fraud-case-sentenced/Links to an external site.

Real estate is very cyclical There are up markets, and down markets. One thing that happens in a down market is that "ponzi schemes" like the one below get exposed. Investors are lured by advertising high investment returns to earlier investors. The early investors are paid attractive returns from the influx of more recent investors. As long as most of the investors do not demand full repayment all at the same time, and as long as they are confident in assets that in fact do not exist, the persons ruining the scheme can bilk most of the investors over time. For purposes of discussion this week, the goal is to, "find your own fraud." Post an example of real estate fraud that really amazes you. Cite your source. It does not have to be a 'Ponzi scheme.' There is an almost infinite variety of real estate financial fraud. A home is a large asset that is easy for predators to attack. You will find that the elderly are a particularly ripe target. Financial elder abuse via real estate is a cottage industry.