Orlando Real Estate Scam Leave Buyers Empty Handed : The Real Estate Bloggers

Orlando Real Estate Scam Leave Buyers Empty Handed

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Sky_developmentAn Orlando couple, Natalia and Victor Wolf, were the model of the American success story. They had a development company, Sky Development Group, that sold into the metro Orlando. Now they are on the lam, with detectives and 100 victims trying to find them. Oh, and 20 million dollars is missing too as the couple slipped out of the country.

For a while, Sky Development appeared to operate legitimately. But problems with the company’s land sales started surfacing in October. Investigators say they don’t know whether the alleged scam was part of a long-orchestrated plot or a last-ditch attempt to deal with a plummeting real-estate market.

One thing is clear: The elaborate operation fooled retirees, seasoned real-estate agents and big companies alike. The list of alleged victims grows daily.

Allegations include claims that Sky:

  • Forged deeds and sold more than $1 million worth of property it didn’t own in one Citrus County development, Citrus Springs.
  • Took millions of dollars for land without turning over the property to the buyers.
  • Referred buyers to a fake title company managed by Natalia Wolf to close land deals.
  • Took money for homes it never built or finished.

Scores of victims seek money and answers. “Everybody believed them. Everybody bought into their scheme,” said Alex Hamilton, a Miami realty agent who sold more than $500,000 of the company’s property and bought himself a lot in Citrus Springs. via Orlando Sentinel

Related posts:
  1. Orlando 2005 Residential Real Estate Roundup
  2. Southern California Real Estate Scam - 3 Charged
  3. Mortgage Fraud Scam Sucks In 100 Virginian’s
  4. Orlando Adds 2 New Condo Projects
  5. Village of Penland Scam Stopped By North Carolina Attorney General, 100 Million Dollars Taken



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There Are 4 Responses So Far. »

  1. Hi

    Would you be interested in placing a link to our site on yours and we will do the same with your link on ours.
    Our site gets thousands of hits per day and is read by hundreds of people who work in the mortgage industry as well as consumers

    Ian Shuter
    Editor

  2. Mark realters offering specialised service in office rental, residential rental and sale / purchase of properties in NCR ( National Capital Region ) and also provides the best in the properties for rent including apartments, bungalows, showrooms, office premises and industrial warehouse.

  3. What The National Association Of Realtors Don’t Want you to Know

    The truth about board of Realtors® owned MLS throughout the country

    For_Immediate_Release:

    United States of America (Press Release) December 6, 2007 — Antitrust complaint unfair trade practices update to previous complaints.

    Shutting off service to your MLS as stated in the letter below and shutting out to prevent non Realtors ( real estate agents) on Realtor owned MLS boards in my opinion is unfair trade practices on a large scale.

    When a Realtor list a home is it disclosed to homeowners at the time of listing that all Non Realtors (real estate agents) will not be able to sell or show any homeowners listings unless they join the local board? Of course not, therefore limiting competition in the marketplace by the thousands of potential home sales from real estate agents nationwide with Realtor own MLS boards… I do believe that there are around 1.7 million real estate agents VS 1.3 million Realtors that leaves a Hugh gap for home buyers and home sellers if this information is not disclosed up front.

    Now that shutting down Supra display keys attached to Realtor owned MLS boards because of unpaid Realtor Board dues, Not unpaid MLS dues only compounds this problem even further for the consumers who have active listings on the Realtor own MLS boards with the agents that are now shut out from a service that is provided by GE/Supra and in which the dues are not not in default..

    Lets look at what I call the poster child state, Georgia

    Georgia has two major Non MLS Realtor Boards GMLS and FMLS that do not discriminate between Realtor or Real Estate Agents therefore providing 100% competition for the consumers and has created a fair marketplace with a level playing field for all to enjoy.

    Why have I choose not to renew my Realtor dues is a very simple explanation for me, I am shammed to be associated with NAR and to be dragged into the DOJ lawsuits against NAR for all the public to see and judge me as a not trustful Realtor (Anti trust) guilty by association, and to further damage the already scarred reputation of being a Realtor.

    Were is NAR ethics here ? Http://www.google.com/search?sourceid=navclient&I.e.=UTF-8&rlz=1T4GGIH_en__214__214&q=the+doj+vs+nar

    So with an estimated Realtor loss of 10% at the Orlando Regional Board of Realtors not renewing next years dues and are paid up MLS dues have had there Supra keys shut off also, what do they tell there listing homeowners clients and Home buyers? When they can not gain access to there listing, or show potential home buyers homes..

    This is fair practice!! Sorry I call it unfair trade practices on a large scale and I support The Department Of Justice actions 100% to protect the general public from this unfair trade practice.

  4. I’m completely agree with you Anti Trust all realtors association just don’t make sense I don’t see neither the difference professional real estate agents and the super realtors the are already many but many associations that don’t discriminate is you are CRI or RIE or TIO or TITUVEO , or ?????????
    Anyway does abbreviations and just names the question is are all they professionals.

    NAR , FAR, and other are just business and their business are realtors as much as they get much money they will get into their pockets and I don’t really see the value they offer to all the realtors with @ for the fees they charge. But like I say is all business that is why
    So many realtors are living their association and joining other listing websites companies
    Where every real estate professional can list his listings.

    You as a real estate professional from any part of the world you are welcome to list your home in my site as well

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