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Real Estate & Property Law

: The Home Equity Theft Reporter

Fresno Feds: Duo Pocketed Bank Loan Proceeds While Simultaneously Conning High-Equity Elderly Home Sellers Into Owner Finance, Equity Stripping Ripoff

By r morris

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In Fresno, California, The Sacramento Bee reports:The founder and longtime owner of Century 21 Apollo real estate was arrested Friday and charged with defrauding banks and elderly homeowners of more than $10 million. Jim Lankford, 71, and his roommate, Jon McDade, 46, bilked seniors and lenders for 11 years, according to a federal grand jury indictment [].***Authorities say the men targeted

Full post as published by The Home Equity Theft Reporter on October 03, 2010 (boomark / email).

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