Fraud
In 2010 CNBC reported on a story from entrepreneur Jeremy Brandt that some creditors have been accused of engaging in fraud during the short sale process. One type of short sale fraud has involved creditors in second position obtaining kickbacks in the form of cash payments from a buyer or real estate agent which was not disclosed to the other creditors.
Read more about this topic: Short Sale (real Estate)
Famous quotes containing the word fraud:
“There exists in a great part of the Northern people a gloomy diffidence in the moral character of the government. On the broaching of this question, as general expression of despondency, of disbelief that any good will accrue from a remonstrance on an act of fraud and robbery, appeared in those men to whom we naturally turn for aid and counsel. Will the American government steal? Will it lie? Will it kill?—We ask triumphantly.”
—Ralph Waldo Emerson (1803–1882)
“He saw, he wish’d, and to the prize aspir’d.
Resolv’d to win, he meditates the way,
By force to ravish, or by fraud betray;
For when success a lover’s toil attends,
Few ask, if fraud or force attain’d his ends.”
—Alexander Pope (1688–1744)