Fourth investor pleads guilty to rigging real estate foreclosure auctions in Mobile area
http://blog.al.com/live/2012/04/fourth_investor_pleads_guilty.html
MOBILE, Alabama -- A local real estate investor pleaded guilty today to manipulating auctions of foreclosed properties, becoming the 4th person to admit to a long-running conspiracy.
Under terms of the plea agreement, Lawrence B. Stacy would serve 6 months in prison, pay a $10,000 fine and make restitution in the amount of $1,500.
“The Antitrust Division will continue to pursue vigorously the perpetrators involved in these real estate foreclosure auction schemes,” Sharis A. Pozen, acting assistant attorney general said in a prepared statement. “Those who eliminate competition from the marketplace and prey on the misfortune of others will be held accountable for their actions.”
Mortgage relief scams are on the rise
SALT LAKE CITY — With more than $3 billion in estimated losses nationwide last year, mortgage relief scams are at an all-time high.
Some Scams Currently in Circulation:
-The Forensic Audit
-Rent–to–Buy Scheme
-Mass Joinder Lawsuits
-Loan Modification Scam
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If you or anyone you know are being foreclosed upon, immediately demand an audit!
Occupy Fights Foreclosures .org
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