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A fugitive couple and South Florida's Russia-linked mortgage fraud machine

For fugitives Victor and Natalia Wolf, the police poster tells the story: hundreds of victims from land fraud swindles across Florida totaling millions in losses.

But the couple’s lasting legacy may be found in their most prized possession: their home.

In their final desperate days, the Wolfs managed to get a spate of sham mortgages slapped on their North Miami Beach house — creating 21 fake transactions — to squeeze millions from lenders before vanishing.

The wheeling and dealing — phony deeds, forged signatures and a straw buyer — has left investors fighting over who owns the stately waterfront house at the center of the couple’s real-estate empire.

“It is mind boggling,” said Fort Lauderdale attorney Roman Groysman, representing a burned lender in a battle over the home. “They did everything imaginable in the realm of fraud.” Amazing story by Mike Sallah here.


Read more here: http://www.miamiherald.com/2012/02/25/2661489/the-south-florida-house-that-became.html#storylink=cpy

Comments

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Gopal Das

Unfortunately, there are still tons of similar real estate scams out there…There is an iPhone app recently released, called Scam Detector, which exposes over 500 of the most notorious scams. It is worth checking it out, if you have an iPhone. The app is also online, if interested: www.scam-detector.com. Kinda cool, actually.

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All the great and worthy persons (whether the ancients, nowadays, as long as it are remained in human memory, none of the mad degree of love: because of the great business, do keep out these weak feelings.

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Wow, that's amazing! I never understood the lengths that people go to in order to make money. Instead of doing ALL that work for fraud, why not do the same amount of work in something good and make just as much money...makes no sense to me, work is work, whether it's good or bad, might as well choose good right?

Great post, will +1 this!

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