More Fraud Examples

My last post linked to a guy who put deals together in Indiana when he did not have a license. The post mentioned having a license as one factor a buyer or investor looks for when considering a deal. Let me clarify one thing though. There are many people in California who managed to get a license, both a salesperson license and a broker license, and who are just as shady as the guy in Indiana. I've represented victims in some of these cases myself and can tell you that a valid license is a positive, but it is by no means a badge to rely upon. I'm hopeful that the DRE can strengthen its regs a little more so that many of these folks can be eliminated from the industry, not just the profession. But do this consumer check, too.