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Scams and Frauds
Here are some of the latest Scams, Frauds, and Consumer Abuse items in the news.

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Beware of Land Sale Scheme

The Department of Housing and Urban Development today announced a lawsuit against a group of developers, accusing them of using a fraudulent land sales scheme to bilk an estimated $25 million from more than a thousand people, primarily senior citizens. The government is seeking an injunction to immediately shut down their operations. HUD claims Buyers Source, and other similarly named businesses, sold more than 1,000 parcels of land located in Florida, South Carolina, Ohio, Arkansas, Texas and Missouri at prices that far exceeded their value. The Department's complaint alleges Buyers Source approached owners of timeshares with an offer to purchase their shares - in exchange, the victims agreed to purchase lots of land at greatly inflated prices with the false promise of tremendous profit and even gifts. Read more...

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