Friday, August 03, 2012

Real Estate Ponzi Scheme

Amazing that investors are so trusting of real estate agents after all the housing market has been through.  Not all agents are crooked and deceitful, but it only takes one to make the whole basket smell rotten.  lately, it seems many in the basket are being infected.  

Real Estate Ponzi Schemes are popping up all over the country. Beware!

Jill Silvey, a professional looking 50 year old Santa Clara County real estate agent, just might be that one smelling up the basket here in the bay area.  Jill is in custody on $3 million dollars bail after trusting investors discovered she'd lied to and cheated them out of money.
View more videos at:

Albuquerque - Doug Vaughn

New Jersey - Solomon Dwek & the Rabbi

Peteluma, Ca. - Joseph  Baccala

St. Louis - Lawyer & Religious Leader

Ponzie Schemes run by Con Artists are alive and well and making a few wealthy and many less than wealthy.  Fortunately for the middle-class working stiff, the Schemers usually target wealthier fish.  

With the exposure of Bernie Madoff, Wizard of Lies, white-collar crime as they call it, is being looked at more seriously and prosecuted to the fullest.  Unfortunately for the victims, most if not all of the money they handed over to the Schemers is unrecoverable.  

Sentences for White-Collar Criminals: Too Harsh or Too Lenient?

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