Straw Buyer Scam "Quote Of The Day"

In their July 2, 2007 edition, Florida Trend Magazine declared the following their "Quote Of The Day" (made by one of the mortgage fraud straw buyers claiming the "dupe defense" that I wrote about in my 7-3-07 post, Straw Buyers Assert "Dupe Defense" In Reports To Cops In Suspected South Florida Mortgage Fraud Scam):

• "'As smart as I am, I had no clue that this was a scam because my best friend is telling me his cousin is doing it.' -- John Oral, an insurance claims investigator and straw buyer of a house in Miami who discovered he had been duped and his credit ruined in a mortgage deal gone bad."

I would simply add that, according to the Miami Herald article in which this quote appeared, after the FBI declined to investigate Mr. Oral's fraud complaint (made jointly with another straw buyer), Mr. Oral (who reportedly received a "$7,000 fee [which] was delivered by courier to his home in two neat bundles" for being a straw buyer) and his fellow straw buyer "victim" (who reportedly received an $11,000 "straw buyer fee") ultimately relieved themselves of their unaffordable properties by reportedly unloading them onto another unwitting straw buyer.

See Quote of the Day - What You Need to Know About Florida Today.