A scammer impersonated the real owner of the property remotely, Vetstein said, and sold it for $525,000 - half of what it's worth - to a developer.
Hindsight is 20/20, but the details in the complaint reveal so many red flags,” Vetstein said. “Everyone, including the town, is going to share in the blame.
Real estate fraud is on the rise, according to CertifIDs 2024 State of Wire Fraud Report. Compromised emails affected 2,284 victims in 2022.
The study said 'real estate is especially vulnerable' because transactions involve large sums of money and up to 10 different parties sharing information.
Collection
[
|
...
]