Savvy Consumer Information Center - Scams and Frauds
Savvy Consumer Information Center - Scams and
Frauds
Scams and
Frauds
Here are some of the
latest Scams, Frauds, and Consumer Abuse items in the news.
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Beware of Land Sale Scheme -
The Department of Housing and Urban Development today announced a lawsuit against a group of developers, accusing
them of using a fraudulent land sales scheme to bilk an estimated $25 million from more than a thousand people,
primarily senior citizens. The government is seeking an injunction to immediately shut down their operations. HUD
claims Buyers Source, and other similarly named businesses, sold more than 1,000 parcels of land located in Florida,
South Carolina, Ohio, Arkansas, Texas and Missouri at prices that far exceeded their value. The Department's complaint
alleges Buyers Source approached owners of timeshares with an offer to purchase their shares - in exchange, the
victims agreed to purchase lots of land at greatly inflated prices with the false promise of tremendous profit and even
gifts.
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more...
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