Scams

Useful Resource: Questions to Ask Real Estate Loan Services to Avoid Scams

March 9, 2015
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Among other useful resources provided by the California Bureau of Real Estate is a consumer alert called Suggested Questions for Consumers to Ask of Those who Offer Real Estate and Home Loan Services: Helping You Avoid Becoming a Scam Victim.  Among the questions that the BRE suggests are […]

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CashCall to Pay Restitution and $1 Million in Penalties and Costs

February 16, 2015
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CashCall, a heavily-advertised small-loan business entered a settlement with the California Department  of Business Oversight, the department announced on February 5, 2015.  The press release from the DBO, which can be found here, states that the lender will be required to provide restitution to California borrowers […]

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Useful Resource: Quick Guide for Tenants Renting a Home

February 13, 2015
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Although mortgage fraud is harder since the financial crisis, many of those would-be crooks have moved on to the next real-estate related scam: Using all those vacant properties to rip-off renters by posting bogus craigslist adds and posing as the owners or property managers.  Fortunately […]

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Man Sentenced for Straw-Buyer Mortgage Fraud Scheme

February 11, 2015
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On January 23, 2015, Wasseem Shamoun was sentenced to 15 months in prison for his role in defrauding banks as part of a straw-buyer scheme.  The indictment alleged the scheme took place from approximately January 2006 through December 2008, so this prosecution falls within the DOJ’s […]

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Feds Prosecuting Market Manipulation Via “Layering” or “Spoofing”

February 1, 2015
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Last month, the Department of Justice issued a press release announcing its first prosecution of “Layering,” also known as “spoofing.” According to the press release:

Layering, also known as “spoofing,” is a form of manipulative, high-speed stock trading in which a trader places non-bona fide orders […]

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