Land Patent Scheme To Avoide Foreclosure Busted In San Diego
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Ah, PT Barnum was right, there is a sucker born every minute.
A group of San Diego con artists bilked homeowners facing foreclosure out of tens of thousands of dollars selling land patents. These were supposed to allow the homeowner to declare themselves sovereign countries and stop the foreclosures.
Of course this was all BS and the homeowners ended up being out of their money and still in a foreclosure mess.
My question is, if these folks were smart enough to think up this scam and convince others of it, wouldn’t they have been smart enough to get out of Dodge and get away from the police?
The district attorney’s office in San Diego says homeowners who were facing foreclosure were told they could buy “land patents” that would make their homes sovereign nations.
The idea was that bank officials then would be barred from coming onto their property.
One suspect, 55-year-old Jessica Refuerzo, was arrested Friday. Two other suspects remain at large and two others were arrested earlier.
At least 17 victims lost tens of thousands of dollars in the scheme. via San Jose Mercury News.
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Comment by Todd Covington on 13 January 2009:
I hate to say it but PT Barnum was right. If people were dumb enought to fall for something this stupid, they deserve to have their money taken. What I mean, is eventually people this dumb would have eventually lost everything. I’m sorry to say but I don’t feel sorry for them.