Ventura County prosecutors have issued a warning about a fraud scheme in which criminals are stealing personal information, and then using it to sell the victim’s property.
Investigators say it’s a sophisticated process. The thieves target vacant land, and then line up a real estate agent. They insist on doing the transaction using e-mail and texts. To speed the process along, the property is often listed well below value, and the agent is instructed to find all-cash buyers.
Then, once a deal is reached, the criminals forge the signatures of the victims, and disappear with the cash. The individuals involved are often from outside the U.S.
Prosecutors say real estate professionals should verify identities of clients with in-person or a virtual meeting. They should ask to see a government issued ID. And, they say agents should be wary of sellers who insist on doing all business by e-mail or text.
