Treasury Department Issues Alert On Scammers Using Fraudulent Promissory Notes & Bonds In Attempt To Buy Real Estate, Vehicles

The U.S. Treasury Department has informed the National Association of Realtors ("NAR") by letter of a new fraud that is making the rounds:

• The Department of Treasury, Office of Inspector General (OIG) is investigating incidences whereby individuals are using fraudulent promissory notes and bonds to attempt to purchase vehicles and real estate. The OIG has been notified of numerous occurrences throughout the United States where fraudulent documents were used to attempt to purchase vehicles. Treasury OIG has also been made aware of incidents in Arizona and Colorado where similar fraudulent documents were used to attempt to purchase homes and an office building.

According to a related Treasury department press release:

• Fraudulent seminars are being held throughout the United States, which teach attendees how to create the aforementioned fictitious documents and how to use federal routing numbers.

Go here for the entire NAR letter, here for the related Treasury department press release, and here for:

• Sample Fraudulent Promissory Note,
• Sample Fraudulent Private Bond.