Victims of 'Fastest-Growing' Real Estate Scam

Central Floridians Falling Victim To 'Fastest-Growing' Real Estate Scam

...Dozens of Central Floridians claim they were lured into real estate deals that left them fighting for their financial lives in what may be one of the biggest scams in Central Florida.... The report featured Joan and Mary, who asked to remain anonymous, and their complaints about Chuck Gunter and Bruce Sarafian. Gunter and Sarafian ran a company called Livewire Properties Inc...

...Joan and Mary were among a group of people who did business with the company. They were paid upfront lump sums of cash in exchange for letting Livewire use their credit to purchase homes... They made up to $7,000 for each purchase Livewire made using their credit...

In the mortgage industry, the process is called straw-buying. "And the straw-buyers, like Mary and Joan, often don't know what they're getting themselves into," .... "I feel like I've been raped," Mary said.

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