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From KCRA (also video):
Federal indictments are expected in the coming weeks after some local companies were accused of a real estate scheme that left several investors nearly broke and many Elk Grove homes in foreclosure, officials said.
A real estate agent who investors said took part in the deals is now out of a job and the state is now taking action as well.
Following a KCRA 3 investigation, the state Department of Real Estate filed a civil complaint against mortgage company officials and a Realtor, alleging fraud, dishonest services and much more.
...
[I]f indictments are issued and convictions are made, officials said, those involved could be looking at up to 30 years in prison and millions of dollars in fines.
1 comment:
Why is it the Sacrmento fraud market never goes flat, as it does, from time to time in other areas of the state? I have long been perplexed by this.
--Jack Payne
www.sixhrs.com
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