Goring Gets 10 Years In Straw Buyer, Flipping Operation

In Pueblo, Colorado, The Pueblo Chieftain reports:

• A budding real estate mogul whose operation grew beyond his grasp and deteriorated into shady appraisals, forged documents and fraudulent collection of loan proceeds was sentenced Wednesday to 10 years in prison. In October, District Judge Rosalie Vigna found Maurice Goring, 41, guilty of two counts of racketeering under the Colorado Organized Crime Control Act.

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• Goring enlisted acquaintances he met at church to serve as the listed owners on distressed properties he purchased. Goring then pocketed the mortgage loan proceeds, often taking out a second mortgage immediately at closing. He let the houses lapse into foreclosure. Along the way, he ruined the credit of the people who agreed to serve as the registered owners of the homes.

For more, see Man gets 10 years in real-estate scam.

Go here for earlier posts on Maurice Goring's straw buyer, flipping operation.