Hi,
There is an interesting article on a recent investigation into mortgage fraud.
One link to BMO`s investigation is: http://www.leaderpost.com/business/story.html?id=2990508
Ringleaders, lawyers, brokers, and straw buyers are involved, according to BMO. The fraud amount is substantial and if straw buyers are involved, I doubt they can pay back. If the straw buyers claim bankruptcy, the judge can overturn this and make it a criminal matter.
In such fraud cases, what usually happens to the straw buyers?
Thanks,
Kir.
There is an interesting article on a recent investigation into mortgage fraud.
One link to BMO`s investigation is: http://www.leaderpost.com/business/story.html?id=2990508
Ringleaders, lawyers, brokers, and straw buyers are involved, according to BMO. The fraud amount is substantial and if straw buyers are involved, I doubt they can pay back. If the straw buyers claim bankruptcy, the judge can overturn this and make it a criminal matter.
In such fraud cases, what usually happens to the straw buyers?
Thanks,
Kir.
