Pump & Dump

The wire went out on a Tuesday. The house went with it.

A federal jury in South Carolina convicted Demani and Tanya Bosket this week in a transnational email-compromise ring that drained more than $25 million from people in the middle of the largest transactions of their lives. The pitch was not a pitch. It was a forwarded thread.

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Real Estate

The notary's pen was the lock. The debt ad was the key.

Montreal police arrested four men this week in a $4.5M alleged real estate fraud that turned debt-relief ads into deeds. The victims walked into a notary's office. They walked out without their homes.

Ponzi / Pyramid

The bridge loan that crossed no river, and the fund that paid out forty cents

A Calgary realtor sold bridge loans for real estate deals that never existed. Four years later, Alberta's regulator cut the largest assurance fund cheque in its forty-year history. It covered less than half the loss.

Real Estate

The contractor had cancer. The contractor did not exist.

Tamara King and Paul Waln sold 22 Seattle investors a West Seattle apartment deal called Halcyon. When the ten years were up, the money was gone and the excuse was a lie about a sick contractor.

Real Estate

The judge held the escrow. That was the whole pitch.

Federal prosecutors say a sitting New York Supreme Court justice let his name sit on a bank account two investors believed was an escrow. The wire cleared. The money moved. Only a fraction came home.

The Daily Brief

The escrow account had a judge's name on it. That was the point.

Ray Delgado · May 13

The Cash Flow King borrowed the same house from sixty-three different people.

Ray Delgado · May 11

The fund said ten percent. The fund was making one.

Elena Ruiz · Apr 26
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See the pitch they're running today.

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