California Real Estate Fraud Report

This report spotlights real estate professionals and businesses lacking the ethics and conscience to treat their fellow humans in a fair, honest and upstanding manner. It is a clearinghouse for real estate fraud, mortgage fraud, loan fraud and appraisal fraud occurring in California, especially Los Angeles and Southern California. - Monique Bryher

08
Aug

1031 Exchange Fraud Alleged in San Jose

A San Jose-based company that specialized in assisting real estate investors defer paying capital gains taxes by utilizing 1031 exchanges is under investigation and its officers under a cloud of scrutiny by the Santa Clara County District Attorney’s Office.

The offices of Vesta Strategies and the homes of Chicago businessmen John Terzakis and Robert Estupinian were searched and both are no accusing each other of embezzling $4.5 million from the company and its clients, who are unlikely to recover any of their money.

Read the Full Article in the San Jose Mercury News.

This entry was posted on Friday, August 8th, 2008 at 7:37 pm and is filed under 1031 Exchange Fraud. Responses are currently closed, but you can trackback from your own site.

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud and appraisal fraud occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.