Real estate

Washington, D.C., May 14, 2008 — The Securities and Exchange Commission today filed securities fraud charges against the promoters of an $18 million real estate investment scheme targeting the African-American community in the Los Angeles area and other locations in Nevada and Georgia.    » read more »

March 05, 2008 -- BOSTON – Massachusetts Attorney General Martha Coakley’s Office obtained a judgment against Thomas Dooley, III, a Beacon Hill real estate broker and his company, Y2K Realty, Inc. dba Louisburg Properties, which resolves claims that he and his company violated state antidiscrimination laws by discriminating against a prospective tenant who had a housing subsidy. The judgment, entered late yesterday by Judge Bruce R.    » read more »

February 6, 2008 -- The founder and president of VesCor Capital was charged today with nine felonies for allegedly bilking 817 investors out of an estimated $140 million. The Utah Attorney General’s Office charged Val E. Southwick with nine second-degree felony counts of securities fraud for his involvement in a commercial real estate investment scheme.    » read more »

30 January 2008 -- The national housing slump showed no signs of easing in December. The monthly U.S. Commerce Department report shows new home sales fell nearly five percent in December to their lowest level in almost 13 years. And with foreclosures now at a 20-year high in some states, realtors in some of the hardest hit states are trying out a creative new idea to entice buyers.

Mounting economic uncertainty has led to a sharp decline in property sales across the country.    » read more »

Couple convicted of $1 million real estate scam that victimized numerous individuals throughout the state

January 25, 2008 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today announced that a Polk County couple has received prison sentences for running a widespread real estate scam that defrauded victims out of more than $1 million. Thomas “Sal” Salvati and his wife, Dawn, both previously pled no contest to criminal charges including organized fraud and conspiracy to commit racketeering, prosecuted by the Attorney Generals Office of Statewide Prosecution.    » read more »

Proposed Bill Would Increase Resources to Process Conversions Faster and Enhance Oversight and Enforcement

NEW YORK, NY (December 13, 2007) – New York Attorney General Andrew M. Cuomo today announced new legislation in the New York State Legislature that will vastly improve the process for converting cooperatives and condominiums.    » read more »

December 10, 2007 -- Connecticut Attorney General Richard Blumenthal, Insurance Commissioner Thomas R. Sullivan and Department of Consumer Protection (DCP) Commissioner Jerry Farrell, Jr. today announced that a law firm, mortgage company and real estate broker will pay $700,000 in fines, forfeitures and restitution to settle allegations they engaged in illegal kickback and inducement schemes.    » read more »