I was looking for a house to rent, so I decided to walk into a realty office by the name of Premier Realty & Investment Group. When i entered i was approached by broker-Realtor Jean R. Pierre-Paul. He decided to show me a few houses, after seeing a couple of them, he asked me if i would be interested in making money, i said sure. He told me that he wanted to buy a $700,000 house, and he wanted to put my name on the note (mortgage) and on the title, and if i would agree to it he would give me $12,000.
I told him i don't qualify for more than $250,000, so he said he got his own in house mortgage broker, who was also his friend, and who can fraudulently make me approve. So when i asked him whats the purpose, so he explained to me that how after the closing (After I purchase it for $700,000), I would then re-sell the house to his other friend for the $900,000. And he explained how he would get another of his friend's that's an appraiser to screw up the appraisal, and appraise it for $900,000. And they would share the $200,000 profit.
He explained to me he did it several times in his past with other what he termed as "straw buyers." And explained how he would pay me between $12,000-$18,000 every time i do it.
He told me how its not illegal, and this and that, but explicitly demanded that I NOT tell anyone about it.
I decided to consult with my cousin who's a Realtor in Atlanta, he told me how its a federal crime, and he told me not to get involved in those type of adventures, because its defrauding federal financial institutions. And I can spend time in federal prison. With everything that's going on now, thank god i didn't go through with it.
0 comments