Michigan Man Cops Plea In Alleged Home Theft From Elderly Couple

In Wayne County, Michigan the Detroit Free Press reports:

• A Grosse Pointe Woods man accused of defrauding an elderly couple in a real estate scheme pleaded no contest in Wayne County Circuit Court on Wednesday. [...] According to the Wayne County Prosecutor's Office, in February 2004, [John] Matouk, who owned half a property [...] in Dearborn with the couple, forged a quitclaim deed from the couple that transferred the entire property to his company, LM Investments of Dearborn LLC.

• Matouk then allegedly obtained a $650,000 mortgage on behalf of LM Investments and spent the money on himself. In September 2007, the couple discovered the scheme and reported it to authorities.

Source: Man takes plea in real estate case.

For story update (11-27-08), see Real estate scam means probation.

For earlier story on this case, see Man charged in Dearborn land swindle case.

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