Two Equity Skimmers Sentenced To Federal Prison

Two Utah men accused of ripping off tenants, distressed homeowners, and lenders in an equity skimming operation have each received a one year sentence in federal prison Tuesday afternoon.

The operation was exposed by local Salt Lake City Channel 2 investigative reporter Bill Gephardt just over three years ago.

The reporter poses a question that all prospective tenants and financially strapped homeowners should ask themselves in order to avoid getting sucked into an equity skimming operation:

• "If you give your rent to a landlord, are you sure the landlord owns the property? Or, if you're a distressed homeowner, would you trust someone's promise that they'll take over all the payments, and allow you to walk away from your debt? It's the basis of equity skimming."

To read more, see Get Gephardt: Equity Skimming Crooks Sentenced, as reported at the KUTV Channel 2 website, kutv.com.

Click here to watch/listen to Bill Gephardt's Channel 2 report.

To read an earlier Channel 2 report, see Two Utah Men Accused Of Rental Fraud.