Alleged Oregon "Rent-To-Own" Scam Artist Flees To Mexico, Leaving Tenants, Straw Buyers Holding The Bag

In Portland, Oregon, KATU-TV Channel 2 reports on alleged "Rent-To-Own" scam artist Jeremy Richardson, 31, of Mount Hood, who reportedly marketed a "Lease to Purchase Option" program which matched up straw buyers who purchased and leased homes and unqualified prospective homebuyers to lease the homes from the straw buyers with a purported right to buy the homes in the future. According to the story, Richardson allegedly collected and pocketed upfont money from the tenant buyers, and also pocketed rents from the tenants without applying the funds to the straw buyers' mortgages as agreed. An excerpt from the story:

• At least 10 investors quickly bought multiple properties under Richardson's direction. Some purchased three, four, five or even nine homes within a very short period of time. Now they believe it was part of a scheme that would prevent lenders from electronically tracking how many properties each investor really owned or was in the process of purchasing.

Former employees and investigators have reportedly told KATU-TV Channel 2 that there are victims in at least 15 states stretching from Alaska to the East coast.

For more, see Just how shady was Jeremy Richardson?

Go here to watch the more extensive KATU-TV Channel 2 video report.

For complaints against Jeremy Richardson on the Ripoff Report, go here , and go here.