TurboGallardo Report post Posted August 6, 2009 Link I'm kind of surprised that this didn't get more news coverage especially in light of some of the other fraud schemes in the news, but I thought it would be of interest to some of the people here who deal in real estate. I only know about because I was a victim of it, albeit for a relatively inconsequential amount of money. The short of it: Guy owns a number of private 1031 Exchange companies. He takes approximately $130 million of 1031 money and steals it to fund a lifestyle of numerous homes, private jets, exotic cars, etc. Ultimately he gets caught, but not before ruining the lives of many. Quote Share this post Link to post Share on other sites More sharing options...
Assman Report post Posted August 6, 2009 I think because there's too many scams right now that are getting exposed. I lost an investment recently to Ponzi play, but it being small fries made it not newsworthy. Quote Share this post Link to post Share on other sites More sharing options...
abolfaz Report post Posted August 7, 2009 There was a 1031 tycoon a few blocks away from me. Was about to get indited but decided to blow his brains out instead... Quote Share this post Link to post Share on other sites More sharing options...
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