Concept information
Preferred term
dream homes scam
Definition(s)
- The Dream Homes scam was a deceptive mortgage payment and investment program that used multiple corporate names to convince over 1,000 investors to part with close to $78 million. It operated from 2005 to 2007 and used the corporation names of Metro Dream Homes (MDH), POS Dream Homes, POS DH LLC, and Metropolitan Grapevine LLC. This scam promised investors that if they made a $50,000 or more investment and paid an administrative fee of under $5,000, MDH would pay their mortgage for them. [Source: Encyclopedia of White-Collar and Corporate Crime; Dream Homes Scam]
Broader concept(s)
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-VCP2LTW4-B
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