Saturday, December 05, 2009

Prosecutors: Scam Artist Used Parents' Stolen I.D. To Buy & Use Five Condos In Rent Skimming Racket Ultimately Ending In Foreclosure Of Each Unit

In San Diego, California, NBC San Diego reports:
  • Tyler Adams is a fraud artist with many faces and many names, prosecutors said. He targeted his own parents in a real estate scam. [...] According to court documents from San Diego, Adams stole the identity of his mother and stepfather to buy five condos in San Diego worth more than $3,000,000 combined. The documents say he then collected rent on the units, but never paid the mortgage. All five condos eventually went into foreclosure. The allegations also allege Adams posed as the Realtor in the sale of the condos and collected another $180,000 in commission fees.

  • His mother and stepfather live in a mobile home in Pennsylvania worth an estimated $50,000. When they were contacted about the condos going into foreclosure, they suspected their son, but were unable to reach him.

Source: A Fraud of Many Faces (A man, who allegedly even conned his parents, used cosmetic surgery to scam people).