The Exchange Commission and Security filed fraud charges against the promoters of a real estate investment scheme that operated a fraudulent foreclosure reinstatement scheme. The scheme started in 2005 and got around $18 million in only two years. More than 600 people were caught by the scheme with the promise that they could get returns of 50% of their investment within 30 days.
The alleged scheme was operated a Pasadena company called Accelerated Funding Group, which was later found to be owned by a women called Jeanetta M. Standefor. The scheme was targeting the African America community in Los Angeles, as well as some remote locations in Georgia and Nevada.
According to specialists, the scheme was primitive and there was no house foreclosure reinstatement program at all. The scheme was based on getting money from investors and later giving a fraction of their own money back to them saying it was part of their profit.
Email This Post
Print This Post
This entry was posted
on Thursday, May 15th, 2008 at 8:14 am and is filed under How to find bank forclosed homes foreclosures.
You can follow any responses to this entry
through the RSS 2.0 feed.
You can leave a
response, or trackback from
your own site.
More Resources:
Invest in Dothan foreclosure listings, How to search for Queen Creek foreclosure, Learn how to buy Pine Bluff foreclosed homes, Find thousands of Longmont forclosures, How to invest in Oakland foreclosure list, How to become a real estate investor with Bridgeport foreclosure list, How to find cheap Jacksonville foreclosed homes, Understand how you can profit from Mcdonough foreclosures, Learn how to search and find Lafayette foreclosure homes, How to buy cheap Shelbyville foreclosure list, Find thousands of Shreveport foreclosure list, Become a real estate investor with Gaithersburg forclosures, Real estate investing tips with Flint foreclosure properties, Things to consider when buying O Fallon foreclosure homes, Find thousands of Los Lunas foreclosed homes, How to invest in Queens Village foreclosure properties, How to profit from Irvington foreclosure list, How to find and buy Salisbury forclosures, All you need to know about Edmond foreclosures, Find thousands of Spartanburg forclosures, Learn how to invest in La Vergne foreclosure listings, Become a real estate investor with Spring foreclosures, How to Find and buy West Valley City foreclosure, Invest in Manassas foreclosure homes Foreclosures By State preforeclosures Florida Foreclosures California Foreclosures foreclosed homes foreclosures search
Are You Looking For Foreclosure Properties For Sale?
Try one of the top foreclosure cities below:
Denver Foreclosures
Raleigh Foreclosures
Richardson Foreclosures
Charlotte Foreclosures
Tucson Foreclosures
Orlando Foreclosures
Miami Foreclosures
Dallas Foreclosures
Los Angeles Foreclosures
Houston Foreclosures
San Atonio Foreclosures
San Diego Foreclosures
Phoenix Foreclosures
Chicago Foreclosures
Las Vegas Foreclosures
Atlanta Foreclosures
Boston Foreclosures
Seattle Foreclosures
Portland Foreclosures
Philadelphia Foreclosures
Detroit Foreclosures
Tampa Foreclosures
HUD Fair Housing Equal Opportunity
