Pump & Dump

The collateral was a PDF. The loan was ninety-nine million dollars.

Federal prosecutors say a Newport Beach borrower used edited PDFs to convince Western Alliance Bank his collateral was clean. The deeds of trust said otherwise. By the time the bank looked underneath, the properties were already in foreclosure.

By Mark Tell · Jun 10
Daily at 6AM Eastern

See the pitch they're running today.

Financial crime intelligence. The patterns, the tells, the playbook. Daily at 6AM before anyone asks you for money.

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