Buyers Beware: You May Be Under Surveillance

Surprise, home buyers: You might be on hidden camera.

You may believe you’re having private discussions about the merits of a homeowner’s wallpaper, the ugly, orange tiles in the bathrooms, or the to-die-for bay windows as you tour a residence. But what people often don’t realize is that those surveillance cameras in the hallways may be turned on, according to Bankrate.com. And that smiling teddy bear in the corner? He may be taping everything you say.

Even the not-so-neurotic sellers often want to know exactly who wants to buy their homes, what they don’t like about them, and just how far they’ve fallen in love with the residences (useful information when it comes to negotiations), say real estate agents. And what better way to find out than to play Big Brother?

“It’s not unusual to see a camera at the edge of a playroom,” says Atlanta real estate agent Jen Engel. “But people don’t realize they’re on.”

Engel once represented a seller who used a “nanny cam” to record everything potential buyers said about the seller’s home. Engel learned of it after the property sold.

“They want to know what people don’t like,” says Engel. “They want to know if there’s an issue they’re not being told about.”

The cameras are most likely legal, although the laws can vary by state, says Indiana University law professor Fred Cate.

“It’s against the law to record someone on audio or video if they’re in a situation in which they have a reasonable expectation of privacy, [such as in] a changing room or a locker room or a bathroom,” says Cate, author of “Privacy in the Information Age.” “But when you’re in somebody else’s house with a real estate agent, it’s a little harder to argue you really have an expectation of privacy.”

For sellers, getting that honest (if ethically murky) feedback can inspire them to make changes—such as replacing that ’70s kitchen flooring or putting in new carpeting.

It can also be valuable during negotiations to know just how much buyers want the home—and how much they said they’d be willing to pay for those properties when they thought no one else was listening.

That’s why Houston Realtor® Greg Nino cautions his Re/Max Compass clients to play their hands close their vests and not say anything that could potentially be used against them—from commenting on the family pictures on the wall to gushing about how they finally found their dream home.

“I’ve had sellers actually go and spy on buyers to see if they are the kind of people they want living in their house,” Janine Acquafredda, a Brooklyn, NY–based associate broker at House-N-Key Realty, told Bankrate.com.

But Boston real estate broker Douglas Bray of Century 21 Cityside doubts that’s common.

“What’s important is if someone is financially qualified and capable of purchasing the home,” he says.

Of course, sellers may simply feel nervous about having strangers in their home, amid their possessions, and want some measure of security.

“If the home has precious works of art [or other valuables], then by all means, I think cameras are an important part of the home-selling process,” Bray told realtor.com®. “But it’s important that people be told there are cameras present. That’s just useful in making everyone feel comfortable.”

Source: Realtor.com, Clare Trapasso
http://www.realtor.com/news/trends/buyers-under-surveillance/?iid=rdc_news_hp_carousel_theLatest

BBB warning of real estate scheme targeting home buyers

BBB warning of real estate scheme targeting home buyers

PROVIDENCE, R.I. (WPRI) — The Better Business Bureau and the Federal Trade Commission are warning residents of a new scheme that targets home buyers as they’re preparing to close on their property.

Because of the new scam, the FTC said your bank account could be wiped out in minutes.

“If you’re in the very stressful situation of buying a new home, oftentimes you are moving so quickly in the process that you’re not sure exactly what to do or where to go – or who to write the check out to,” said Paula Fleming with the BBB. “And scam artists are taking advantage of this.”

According to the BBB and FTC, hackers have been breaking into some buyers’ and real estate agents’ email accounts to get information about upcoming real estate transactions.

Then, the hackers send emails to the home buyers posing as a real estate agent or someone from a title company.

The scammers instruct the home buyer to wire closing costs to a certain account – and people are falling for it because the emails look official.

“Oftentimes, people don’t realize they’ve been duped until they sit down to actually sign off on the paperwork,” Fleming said. “And they they’re asked for the check and they say we’ve already wired the money.”

According to Fleming, once you wire the money, you’re more than likely not going to get it back.

Here’s how to protect yourself:

Don’t answer unsolicited emails – and never email financial information because email is not secure.
If you do receive an official-looking email and you have questions about it, your best bet is to pick up the phone and call your real estate agent. He or she will be able to quickly tell you if the email is legitimate.

Source: WPRI.com Eyewitness News, Susan Campbell
http://wpri.com/2016/05/17/bbb-warning-of-real-estate-scheme-targeting-home-buyers/

Forget about terrorist, the FBI uses hidden microphones to catch shady real estate investors

I, like many Americans have known for some time that the government is spying on the people by monitoring electronic communications such as email and what-not, but this is a whole new level. So apparently the FBI has set up hidden microphones in out door areas to listen on the conversations of terrorist? No. - real estate investors who might be bid rigging! Go figure. 



Hidden Microphones Exposed As Part of Government Surveillance Program In The Bay Area

OAKLAND (CBS SF) — Hidden microphones that are part of a clandestine government surveillance program that has been operating around the Bay Area has been exposed.

Imagine standing at a bus stop, talking to your friend and having your conversation recorded without you knowing.  It happens all the time, and the FBI doesn’t even need a warrant to do it.

Federal agents are planting microphones to secretly record conversations.

Jeff Harp, a KPIX 5 security analyst and former FBI special agent said, “They put microphones under rocks, they put microphones in trees, they plant microphones in equipment. I mean, there’s microphones that are planted in places that people don’t think about, because that’s the intent!”

FBI agents hid microphones inside light fixtures and at a bus stop outside the Oakland Courthouse without a warrant to record conversations, between March 2010 and January 2011.

Federal authorities are trying to prove real estate investors in San Mateo and Alameda counties are guilty of bid rigging and fraud and used these recordings as evidence.

Harp said, “An agent can’t just go out and grab a recording device and plant it somewhere without authorization from a supervisor or special agent in charge.”

The lawyer for one of the accused real estate investors who will ask the judge to throw out the recordings, told KPIX 5 News that, “Speaking in a public place does not mean that the individual has no reasonable expectation of privacy…private communication in a public place qualifies as a protected ‘oral communication’… and therefore may not be intercepted without judicial authorization.”

Harp says that if you’re going to conduct criminal activity, do it in the privacy of your own home. He says that was the original intention of the Fourth Amendment, but it’s up to the judge to interpret it.

Source: CBS SFBayArea, Jackie Ward
http://sanfrancisco.cbslocal.com/2016/05/13/hidden-microphones-exposed-as-part-of-government-surveillance-program-in-the-bay-area/

Realtors behaving badly - Fremont man sentenced to a year in jail for real estate fraud

Fremont man sentenced to a year in jail for real estate fraud

A Fremont man who pled guilty to charges alleging elder financial abuse and grand theft last month surrendered himself at Santa Rita Jail in Dublin on April 1, the Alameda County District Attorney's Office reported.

Real estate agent Jeremiah Bishop, who was 74 at the time of his arrest in April 2015, was also ordered to pay $422,522.38 in restitution to 14 victims on March 25 in Hayward. Bishop pled guilty before trial, Deputy District Attorney David Lim said.

Fremont Police Department said Bishop advertised himself to potential victims as a commercial real estate investor with a partner starting in 2006. However, the partner did not exist and the properties Bishop sought investors for were not actually for sale, police said.

One of Bishop's victims, Union City resident Richard Aug, said he is disappointed in the outcome of the sentencing and believes Bishop was "not as remorseful as he should be."

Also, due to his age, health and other factors, Bishop could end up serving less than six months in jail.

"That's horrible, that's deplorable," Aug said.

During the course of nearly 40 years, Aug and his children made six property transactions -- buying and selling -- with Bishop. He became so trusted and treated as a family member that Aug's children called him "Uncle Jerry."

However, the relationship was shattered a couple years ago when a $25,000 investment did not yield a return in nearly a year.

Another victim, Alameda resident Frances Lai, said she and the other victims walked out of the sentencing court sad due to the lack of additional jail time for Bishop, under what she described as a "generous plea bargain."

"By using his ruthless operation of a Ponzi scheme, he has heartlessly robbed people, including elders, of their hard-earned savings, causing them undue financial and mental stress, and most of all, exploited his own close friends, clients and colleagues and betraying their trust in him. I don't know how he can live with his own conscience," Lai said in an email, recalling what she said at the sentencing during the victims' chance to speak.

Lai said she first met Bishop when she joined Century 21 Mission-Bishop real estate company, 39180 Liberty St., as a rookie Realtor in 2012.

"He was my trainer and mentor," she said.

After not making a single sale in more than a year, Lai left the company in 2013. Shortly afterward, Bishop contacted Lai about high-return investments in which she ended up losing $22,500 in a year's time.

"I started to suspect it was a scam, but I didn't know where to turn to, as I had never experienced something like this before," Lai said. "I couldn't sleep for months, and was suffering from intense distress and anguish besides the financial crunch due to his non-payment of the loans."

Source: San Jose Mercury News, Julian J. Ramos
http://www.mercurynews.com/ci_29771297

The Feds Want To Track Secret Home Buyers

In my career as a Realtor, I've had my share of All Cash real estate transactions. Most agents love them because they generally are less headaches than a buyer who is purchasing with a loan. Sellers are generally more likely to accept an all cash offer in a multiple offer situation (which we are currently seeing allot of in this market in the Silicon Valley) as opposed to one with financing.

Well, now it has come to light that perhaps not all of these all cash real estate transactions are on the level. In certain housing markets here in the U.S. there is a growing number of buyers who are purchasing high-end properties with all cash under a shell company to mask their identity.

Naturally the U.S. government is concerned that these secret buyers could be anything from drug lords looking to use their real estate holding launder money to terrorist. This is not to say that all such transactions are shady, the government has reason to believe that fair percentage of them are. 

So in two of the most suspect real estate markets where this is apparently going on, Miami Florida and Manhattan, title companies may soon be responsible to getting to bottom of who really owns these shell companies before escrow is to close and then report that information to the feds. Realtors may be required to help get to the bottom of these questionable transactions as well.

The federal government has grown so concerned about high value properties ($3M and above) being purchased by unknown individuals using shell companies, that the FBI has apparently hired extra agents who will be dedicated to investigating these issue. 

Whether or not the feds will expand this practice to every real estate market is unclear at this time.

U.S. Will Track Secret Buyers of Luxury Real Estate

Concerned about illicit money flowing into luxury real estate, the Treasury Department said Wednesday that it would begin identifying and tracking secret buyers of high-end properties.

The initiative will start in two of the nation’s major destinations for global wealth: Manhattan and Miami-Dade County. It will shine a light on the darkest corner of the real estate market: all-cash purchases made by shell companies that often shield purchasers’ identities.

It is the first time the federal government has required real estate companies to disclose names behind cash transactions, and it is likely to send shudders through the real estate industry, which has benefited enormously in recent years from a building boom increasingly dependent on wealthy, secretive buyers.

The initiative is part of a broader federal effort to increase the focus on money laundering in real estate. Treasury and federal law enforcement officials said they were putting greater resources into investigating luxury real estate sales that involve shell companies like limited liability companies, often known as L.L.C.s; partnerships; and other entities.

Future investigations, they said, will focus increasingly on professionals who assist in money laundering, including real estate agents, lawyers, bankers and L.L.C. formation agents.

Officials said the new government efforts were inspired in part by a series last year in The New York Times that examined the rising use of shell companies as foreign buyers increasingly sought safe havens for their money in the United States. The investigation found that real estate professionals, especially in the luxury market, often do not know much about buyers. Until now, none of them have been legally required to.

The use of shell companies in real estate is legal, and L.L.C.s have a range of uses unrelated to secrecy. But a top Treasury official, Jennifer Shasky Calvery, said her agency had seen instances in which multimillion-dollar homes were being used as safe deposit boxes for ill-gotten gains, in transactions made more opaque by the use of anonymous shell companies.

“We are concerned about the possibility that dirty money is being put into luxury real estate,” said Ms. Calvery, the director of the Financial Crimes Enforcement Network, the Treasury unit running the initiative. “We think some of the bigger risk is around the least transparent transactions.”

The department will focus on sales that are both paid for all in cash and conducted using shell companies.

The government is requiring title insurance companies, which are involved in virtually all sales, to discover the identities of buyers and submit the information to the Treasury.

The government will put the information into a database for law enforcement.

The Treasury’s program will affect billions of dollars in real estate transactions.

In Manhattan, the initiative requires buyers in sales of more than $3 million to be reported; in Miami-Dade County, it requires reporting on sales of more than $1 million. In Manhattan, 1,045 residential sales cost more than $3 million in the second half of 2015, worth some $6.5 billion in aggregate, according to PropertyShark, a real estate data company.

In addition to starting in only two markets, the requirement runs from March through August. If Treasury officials find that many sales involved suspicious money, Ms. Calvery said, they will develop permanent reporting requirements across the country.

A senior Federal Bureau of Investigation official, Patrick Fallon, said the anonymity possible under existing shell companies had stymied investigations and the Treasury initiative would help trace illicit money.

“We fully intend to encourage expansion of it, so, not only to different geographic areas but as far as the time frame as well,” said Mr. Fallon, chief of the bureau’s financial crimes section. “We think it’ll prove its worth.”

In its investigation, The Times found that nearly half of homes nationwide worth at least $5 million are purchased using shell companies. In Manhattan and Los Angeles, the figure is higher.

In New York, The Times examined a decade of ownership at a prominent condominium complex near Central Park, the Time Warner Center, and found a number of hidden owners who had been the subjects of government investigations. They included former Russian senators, a former governor from Colombia, a British financier, and a businessman tied to the prime minister of Malaysia, who is now under investigation.

In Florida, The Times uncovered a condominium in Boca Raton tied to Mexico’s top housing official, who recently stepped down and is now a leading contender for the governor’s office in the southern state of Oaxaca.

Ms. Calvery said the findings helped convince the Treasury that more scrutiny of high-end buyers is needed.

“It’s easier to talk about it with people who aren’t specialists in our area when they read about it in the newspaper,” she said.

Indeed, last spring, New York City’s Finance Department began requiring shell companies buying real estate to report their members to the city. That rule, however, is less far-reaching than the Treasury action.

Real estate is becoming a larger target for law enforcement as well. According to two people with knowledge of cases at the Justice Department, lawyers there have begun to shape cases directly around money laundering in real estate deals rather than adding such transactions to other cases.

The F.B.I. has in recent months created a new unit to focus on money laundering, and real estate will be one main focus. The unit, which has 10 agents, will help the Justice Department delve into shell companies and the people involved in money laundering, F.B.I. officials said.

“We’re going after the facilitators of the money laundering,” Mr. Fallon, of the F.B.I., said. “They’re the bankers, they’re the accountants, lawyers, folks who are setting up L.L.C.s, they are setting up foundations, folks who are setting up nonprofits, real estate investment trusts, etc.”

The new scrutiny is likely to increase headaches for the real estate industry, in part because shell companies are not easy to penetrate. Buyers often mask their identities by layering companies on top of other shell companies. Buyers also commonly fill out L.L.C. formation papers using the names of lawyers or other place holders, often called “nominees,” instead of their own names.

The Treasury is looking for the actual owners behind shell companies, often referred to as the beneficial owners. “We’re not looking for nominees,” Ms. Calvery said.

In its order, the Treasury defined beneficial owners as “each individual who, directly or indirectly, owns 25 percent or more of the equity interests” of the entity that bought the property. Once title companies identify those people, they are required to copy driver’s licenses or passports and also pass the individuals’ names to the Treasury Department.

Stephen Hudak, a spokesman for the Treasury’s Financial Crimes Enforcement Network, said any title companies or purchasers who provided false information could face penalties. The American Land Title Association said in a statement that it would help its members comply with the Treasury’s new naming requirements.

Under the U.S.A. Patriot Act, the Treasury is already authorized to require real estate companies to scrutinize real estate buyers, but the department has in the past faced fierce lobbying against issuing such rules. The department already requires mortgage lenders to scrutinize buyers. But cash buyers have been a big hole in the government’s oversight of the market, Ms. Calvery said.

“Repeated anecdotal information where we see criminals of different stripes putting money into real estate all suggest to us that this is an area we need to pay attention to,” she said.

Source: Ny Times, Louise Story

http://www.nytimes.com/2016/01/14/us/us-will-track-secret-buyers-of-luxury-real-estate.html?_r=0

Related: Feds Want to Know Who's Behind Purchases in #1 Cash Real Estate Market Miami

Beware of crooks posing as Realtors

This article is in reference to Teton Valley, but it's message is still relevant to the Silicon Valley because there have been numerous instances of Craigslist real estate scams going on. One such example is when an unsuspecting individual or couple responds to an online ads posted by someone pretending to be a Realtor, advertising for a property unbeknownst to the owner, they collect a deposit without showing the property and they disappear. The victims will never see their money again. If they are a legit Realtor, there should have their BRE (Baeurau of Real Estate) # readily available. You can look up their license status on the BRE's website. Be suspicious of they ask for a deposit up front without showing you the property And lastly, if it sounds too good to be true, it probably is.

Sheriff's Office warns: Beware of Craigslist real estate scams
The sheriff’s department has received several reports recently of fraudulent advertisements on Craigslist. In some of these instances, a person will post an advertisement for a property for sale or rent and pose as a real estate agent to gather personal information from prospective buyers.

Teton County Sheriff Tony Liford said such online ads make more sense in large cities where there are thousands of housing options, but in a place as small as Teton Valley, there’s no reason not to use a real realtor.

“Craigslist is not the place to go,” Liford said. “What started out as a good thing has turned into a criminal’s delight.”

The sheriff’s department advises those looking for housing to go through a licensed real estate agent, and always to view the property before transferring any personal information or money.

Source: Teton Valley News, Teresa Mull 
http://www.tetonvalleynews.net/news/sheriff-s-office-warns-beware-of-craigslist-real-estate-scams/article_ecb8353c-aff7-11e5-b8d9-577327d8a9ba.html

HACKERS CONTINUE TO PERPETRATE WIRE TRANSFER FRAUD IN REAL ESTATE TRANSACTIONS

About one year ago, our column dealt with the subject of wire transfer fraud in real estate transactions. Regrettably, the topic is still a current one. On December 15, NAR issued an alert on the subject. Anecdotally, incidents have increased in the Southern California area. The nature of the scam is unchanged, so what was said last year is still on point. It goes as follows.

Wire transfer instructions are emailed to the buyer. The buyer complies with the instructions to the letter. The next day, escrow contacts the buyer asking if the money has been sent yet. The buyer checks with his bank and is assured that the funds have been transferred out. When the money has still not shown up, everyone begins to retrace steps. As it turns out, the wiring instruction was bogus. The email came from an address that looked very much like that of the escrow or title company, but it was not actually theirs.

And the recipient bank account? It was real; it just wasn't the correct one. And, yes, it has been emptied out by now.

The scheme has been perpetrated by hackers, and it has been going on around the country for a while now. Chicago Title put out an alert that described the steps involved. We summarize them here:

First, hackers identify the email accounts of real estate agents and brokers. Then they hack directly into the accounts "and identify emails referencing pending real estate deals. From these strings of emails, the hackers pull out specific details about the deal, such as: (a) the parties' names, (b) the title company involved, (c) the escrow officer in charge of the deal, and (d) other information specific to the transaction."

Next, they send fraudulent email "directly to the buyer or lender, making it look like it was sent by the real estate agent, mortgage broker, or escrow agent. These fraudulent emails now direct the buyer and/or lender to wire the funds necessary to close escrow directly to a different bank account than provided in the preliminary report or in the escrow instructions. Obviously, this new bank account is controlled by the hacker, not the title company or the escrow holder."

Then, if the buyer, or the lender, does not detect the fraud, "the money is wired to the bogus account controlled by the hacker and is immediately withdrawn. Due to the amounts involved and the complex nature of investigating and prosecuting wire fraud, the odds are that the authorities will do nothing to help in these instances." [my emphasis]

For the most part, prevention recommendations tend to focus on the non-secure nature of most email accounts. It's a fair bet that most real estate agents do not have secure accounts and they can be easily hacked. But, in a world where Target, Sony, and the Defense Department get hacked, it is not plausible to think that most agents, escrow companies, and clients are ever going to enjoy a very high level of security.

While suggestions like two-factor authentication and encrypted emails may have their place, it is refreshing that a practical, non-technical word of advice comes from, of all places, an alert put out by the Silicon Valley Association of REALTORS®. To wit:

"Buyers and sellers should confirm all email wiring instructions directly with the escrow officer by calling the escrow officer on the telephone. In that conversation, the correct account number information should be repeated verbally before taking any steps to have the funds transferred."

Certainly, if wiring instructions are changed via email, the buyer should confirm that by phone with the escrow officer and the buyer's real estate agent.

Source: RealtyTimes, Bob Hung
http://realtytimes.com/consumeradvice/buyersadvice1/item/41183-20151229-hackers-continue-to-perpetrate-wire-transfer-fraud-in-real-estate-transactions

Real estate agent mistaken for burglar, held at gunpoint

Real estate unfortunately is not a totally safe occupation. We Realtors have to worry about more than not making that sale, but also our personal safety - case in point Beverly Carter. Well, apparently a Realtor was mistaken for a burglar and was held at gunpoint by a neighbor.



A 61-year-old man on Thursday mistook a real estate agent for a burglar and held him at gunpoint until officers arrived at a home the man was selling on Helican Springs Road, Athens-Clarke County police said.

The man said he went to the house upon being notified of a burglar alarm activation there, and when arriving he saw unfamiliar vehicles and people in the driveway, according to police.

“Because of past break-ins, (the man) drew his Glock 23 pistol,” police said. “As it turned out, it was a real estate agent he had never met showing (the) house to a prospective buyer.”

Neither the real estate agent nor the would-be home buyer wished to press charges, police said.

Source: Athens Banner Herald, Joe Johnson
http://onlineathens.com/blotter/2015-12-18/real-estate-agent-mistaken-burglar-held-gunpoint

Cybercriminals Targeting Real Estate Transactions

It used to be banks and major retailers that were the target of cyber criminals, but now it seems they are also setting their sights on us Realtors. As an active real estate agent who has closed numerous deals, I know there is a wealth of data that is accumulated during the course of a real estate transaction, but I use encryption to protect that data. Be that as it may, I know of many agents who aren't as tech savvy who are putting their clients at risk by being careless with their information.

SAN DIEGO, Nov. 14, 2015 /PRNewswire/ -- Small real estate businesses, agents and their clients are fast becoming the targets of sophisticated cyber scammers. That's according to panelists at the Risk Management and License Law Forum yesterday at the 2015 REALTORS® Conference & Expo, who discussed potential threats and offered tips for agents to protect themselves and their businesses and clients from cyber-attacks.

Melanie Wyne, National Association of Realtors® technology policy expert said that while we often hear in the news about large companies falling victim to hackers, small businesses, which often lack the vast technology and legal teams of larger businesses, actually account for the majority of attacks. "Small businesses need to pay just as much attention as large companies to possible cyber threats," she said.

Darity Wesley, founder of the Lotus Law Center, said hackers are seeking personally identifiable information, data that could potentially identify a specific individual, such as credit card or bank account information, login credentials, employment details or a physical address, e-mail address, and phone or social security number.

"Most people don't know the vast amount of data stored about them in a variety of systems," said Wesley. "Identity thieves can do a lot of damage with this information; your credit and whole life could be ruined."

Wyne said data breaches can impact real estate businesses in three main ways: businesses can suffer from financial harm from expenses resulting from the breach; legal risks from lawsuits from clients or others impacted by the hack; and reputational risks from having to publicly disclose the hack. She said commercial properties are also vulnerable from hacks into their automated or building control systems.

While cloud and free email services are convenient for business they are never completely secure, and Wyne recommended that Realtors® research the level of security those companies are employing before using their services and storing information or documents into them. She also recommended that agents ask these services to be indemnified in the service is hacked. Wesley said anyone using a free email service for business should encrypt emails with client data; she recommended visiting lifehacker.com (then search on "encryption") for great tips for encrypting emails.

Jessica Edgerton, NAR associate counsel shared that in recent months, real estate professionals have reported an upswing in a particular wire scam, where a hacker breaks into an agent's email account and obtains information about upcoming real estate transactions. After monitoring the account, the hacker will send an email to the buyer as he or she nears closing, posing as the agent or someone from the title company and requesting that the buyer wire transaction-related funds. Edgerton recommended that agents inform their clients at the beginning of any transaction about this scam and that if buyers do receive an email about wiring funds that they immediately call the agent on the phone.

Currently, the majority of laws governing data security are at the state level, although NAR has been advocating federal law for years. Therefore, Wyne also said it's important for agents to know the state laws regarding data security and privacy that affect their organization, especially since some states have enacted laws that require businesses to have proactive security programs in place.

All of the speakers recommended strong passwords and developing a data security program and implementing and maintaining safeguards to protect private data. A privacy policy disclosing some or all of the ways the business collects, shares, protects, and destroys personal client information is also a good business practice.

Source: National Association of Realtors
http://www.prnewswire.com/news-releases/cybercriminals-targeting-real-estate-transactions-300178856.html

Police suspect rape attacker targeted another Realtor

I know this incident happened in Florida, but this was a fellow Realtor who almost got raped. Being a Realtor has its share of dangers because we are deal with the general public and there some real preditors out there waiting to prey on the unsuspecting. Sometime we really just don't know who we are inviting in to our client's property for the open house or who this person is that we are showing the house to. I take a number of precautions when I am doing an open house or showing a a home, but some agents I know don't seem as careful as I am. Perhaps the below news story from HousingWire might persuade them to be more cautious.



Police in Manatee County, Florida, arrested the suspect in an attempted rape of a Realtor at a home showing on Monday.

Investigators said that the suspect is Bruce Anthony Kotter, 63. They caught him on Tuesday afternoon, and he faces charges of kidnapping and attempted sexual battery.

Detectives think Kotter may have targeted a second female real estate agent about an hour after he attacked the first one. HousingWire is getting more details on the specifics of that attack.

In the first assault, a Realtor in Florida said that a man posing as a client attacked and tried to rape her, but her quick thinking and training allowed her to escape.

She admits she didn’t follow some protocols, such as getting a copy of his license and not going alone.

The Realtor, 69, was showing the home, when Kotter allegedly called her into the bathroom under the ruse that he wanted to show her that the toilet was leaking.

That’s when he attacked her, police say.

The Realtor said Kotter slammed her into a wall during the attack and screamed sexually explicit profanities.

Soon as she could get loose, she fled, and got out before he could sexually assault her.

Source: HousingWire, Trey Garrison
http://www.housingwire.com/articles/34743-police-suspect-rape-attacker-targeted-another-realtor

China releases 'most wanted' list of economic fugitives

Anyone who kind of knows anything about the real estate market, especially about the market here in the Silicon Valley, knows that part of this white hot seller's market boom is fueled by cash investors. Quite a few of those cash investors are from China. Now I learn that the Chinese government has put out a dragnet to catch the crooks from their country who defrauded the government (for billions!), And IF they are caught, what happens to them won't be pleasant. Let's put it this way, the Chinese government won't just put them in jail for life like would happen to a U.S. citizen caught defrauding the government. If caught they are likely to be tortured  and put out of their misery! Of course officially the Chinese government denies that flat out, but those in the know say otherwise.

Anyhow, the other day I was talking to a colleague and I was telling him my speculation about how this could affect the real estate market here. When these crooks are caught that will be whole lot of money that will no longer be available to buy properties here. And I suspect there are some who ripped off the government who just haven't landed on the gov's radar for whatever reason who will now be too scared to buy U.S. assets so as not to arouse suspicion.





China releases 'most wanted' list of economic fugitives

China has released a list of 100 alleged economic fugitives, the latest move in the government's wide-reaching anti-corruption crackdown.

The "most wanted" list includes photos and identification numbers of former local government officials, police officers, accountants and more, who are suspected of taking bribes, embezzling funds and laundering money. Other alleged crimes include contract fraud and issuing false tax receipts, according to details released by China's Central Commission for Discipline Inspection.

Sixty-six individuals on the list are believed to be in the U.S. and Canada. The remainder are primarily thought to be in Asia, though a handful are scattered in countries including Sudan, Ghana, Belize, and St. Kitts and Nevis.

Since coming to power, Chinese President Xi Jinping has launched a massive anti-corruption campaign that has netted hordes of government officials and company executives. Some critics say it's merely politics and that Xi is removing his opponents, but the crackdown has continued to widen.

Over the past year, the government has ramped up its targeting of rich Chinese suspected of economic crimes through campaigns dubbed "Operation Foxhunt" and "Operation Skynet." Recent efforts are aimed at extraditing suspected fugitives abroad and trying to recover their illicit assets.

Beijing has even sought the help of the U.S. government -- the State Department confirmed last month that China has sent a list of priority suspects to Washington.

Neither government has released details about the extent of their cooperation, but at least one suspected Chinese fugitive has already been detained on U.S. soil.

In March, Shilan Zhao, the ex-wife of a former Chinese official, was arrested in Washington state on charges of immigration fraud and money laundering, the U.S. Department of Justice said in a statement.

Zhao and her ex-husband, Jianjun Qiao -- who is on the list of names China released Wednesday -- were charged in the U.S. with fraudulently obtaining visas through a popular immigrant investor program known as EB-5.

The DOJ claims that the couple bought property in the U.S. with money laundered through a massive grain storage facility in China, where Qiao served as director for 13 years. Qiao remains at large, according to DOJ.

While the U.S. doesn't have an extradition treaty with China, the State Department can still return fugitives to China.

"We must be satisfied that an individual extradited from the United States to another country would receive a fair trial and not be subject to torture or other forms of mistreatment in that country," a department spokeswoman said last month.

Source: CNNMoney
http://money.cnn.com/2015/04/23/news/china-most-wanted-economic-fugitives/

Related:

China's most wanted fugitive is in US custody after being caught with a fake Dutch passport

ALERT: Wire Fraudsters Targeting Real Estate Transactions

I thought I heard of everything until I saw this article. I guess thieves are more inventive than I thought.

Now it seems, scammers will hack a Realtor's email account and monitor her/his email to see when a particular transaction is closing, the buyer's email address, etc. Once they know that they will send an email to the buyer with bank wire instructions. And of course that wire is to the bank account of the criminal, and the next thing you know the buyer's account will be drained.

So there it is in a nutshell. Another scam to keep an eye out for.



ALERT: Wire Fraudsters Targeting Real Estate Transactions

WTF!? - Sheriff shots Realtor

Now I've heard of everything. Geez.



LAWRENCEVILLE, Ga. — Police are investigating a shooting in this northern Atlanta suburb involving an Atlanta-area county sheriff.

Clayton County Sheriff Victor Hill accidentally shot a woman at a model home in Lawrenceville, Ga., on Sunday, said Gwinnett County Police Sgt. Brian Doan.

The woman, whose name has not been released, is in critical condition at an area hospital with a gunshot wound to the abdomen.

Authorities said that Hill has refused to cooperate with the investigation and did not give a statement or answer questions. Because he is an active sheriff, he was allowed to leave the scene, Doan said.

"When you're an active sheriff in the state of Georgia, there are certain legal requirements and steps that have to be taken," said Doan. "It's not just an average citizen where you can take out a warrant for their arrest."

Neighbors said the victim is a real estate agent and a friend of Hill's. Police said there were four people at the home at the time of the shooting — Hill, the victim and two potential homebuyers.

Investigators with the Gwinnett County Police Department are consulting with the district attorney's office about the case. No charges have been filed and the investigation is ongoing, according to a police news release.

In a statement, Gwinnett County police said the shooting was "reported as accidental" but didn't elaborate on who reported it that way.

Hill was re-elected as sheriff of Clayton County, which is south of Atlanta, in 2012 despite facing 37 charges of corruption at the time of the election. Hill was later acquitted of all charges. Since being re-elected, Hill has kept a relatively low profile, rarely granting interviews.

Hill did not respond to requests for comment.



Source: USA Today, 
http://www.usatoday.com/story/news/nation/2015/05/04/ga-sheriff-accused-shooting-woman/26858159/

Occupational Hazard

I got into the real estate business to help people. I got into the business with idea that I would be helping people achieve home ownership, and the worst threat I would face was maybe a lawsuit if I made a mistake or something. I had thought that only people in law enforcement or the military had to worry about actual risk to life and limb.

Well I was wrong about the no risk to life or limb part. You see, as a Realtor I often have to meet with the general public, complete strangers. And some of those strangers can potentially be convicted felons and psychos for all I know. We Realtors always have to think safety when we're doing an open house or showing properties.

Below is a link to yet another story that has come out about a fellow Realtor who almost kidnapped and robbed at gun point, but luckily was able to escape before any harm cam to her. Unfortunately, not all Realtors have been so lucky.

Agent Escapes Kidnapping at Gunpoint

Related:

56 Safety Tips for REALTORS®

Suspect Escapes Death Penalty in Agent Murder

Last September, the real estate community lost one of its own, Beverly Carter. She was showing a foreclosed home when this piece of garbage, pictured below, abducted and murdered her allegedly. We at the request of the family he will not be facing the death penalty and instead will likely spend life in prison working out, watching tv, socializing with other inmates, all on the tax payer's dime. Oh well.

Suspect Escapes Death Penalty in Agent Murder

The man accused of kidnapping and murdering an Arkansas real estate agent will not face the death penalty, due to a request from the victim’s family, prosecutors told a circuit judge. The suspect Arron Michael Lewis also told the court last week that he plans to represent himself at trial, which is set for July.

Lewis and his wife, Crystal Hope Lowery were arrested on charges related to the abduction and killing of real estate agent Beverly Carter. Carter vanished while showing a foreclosed home to a prospective buyer in September. Five days later, in a nationwide search, her body was found bound with duct tape buried behind a concrete plant where Lewis was employed.

Police have released few details on why they believe Lewis and Lowery are connected to the killing. Lowery was arrested one month after Lewis. Carter's cell phone was reportedly found in the couple's home, and police have said that Carter's phone had called Lowery's phone for about 16 minutes the night Carter had been murdered, the Arkansas Democrat-Gazette reports.

Lowery will face trial separate from Lewis. Her trial has yet to be set.

Lewis, appearing in court last week, told the Pulaski County Circuit judge that "I want to terminate my lawyer" and that he wished to represent himself in the capital-murder trial. The judge questioned Lewis, who will await trial in prison, on how he would be able to adequately prepare his defense. But Lewis remained adamant that he intends to defend himself. He also claimed to have evidence to exonerate Lowery.

Since his arrest, Lewis has sued the Pulaski County sheriff’s office, accusing them of beating and mishandling him as they tried to get him to cooperate in Carter’s disappearance case. Lewis also claims police refused to allow him to speak with a lawyer following his arrest and denied him medical treatment.



Source: http://realtormag.realtor.org/daily-news/2015/03/09/suspect-escapes-death-penalty-in-agent-murder?om_rid=AAFmZk&om_mid=_BU-dicB8-0L$oV&om_ntype=RMODaily