"The American People need to communicate and be on high alert to such activities. We are effectively in an economic war with others that use technology to steal." NLT
As a builder I should be well aware of the various forms of fraud being attempted specifically on the real estate and construction sector. A lose to fraud is typically a complete loss and it HURTS.
Since 2016, in my travels and experience I have been exposed to and told of various forms of fraud, it is increasing each year.
I have included in this article a link to a huge FBI event that uncovered and also involved arrests in late August of this year. All of the country is affected.
We are effectively under attack daily as business people and Americans. I specifically know of losses of over $1 million, an attempt at a wire of $3.1 million, $300,000, and more, the list is to long to document!!
Here is a short outline of actions taken to steal your hard earned money:
- Co-opting owners and controllers email to suggest different bank accounts for wires.
- Fake Invoices.
- Great rates on loans, need to pay transaction fees to move.
- Access to valuable assets.
- Attempts to intercede on wire instructions. All controllers should confirm wires by phone.
- For all of the means an ways of actions, see the link below and open up the indictment itself to read it. IT IS WORTH READING. PLEASE FORWARD THIS INFORMATION TO OTHERS SO THAT THEY ARE MORE AWARE.
Read here and at the bottom you can access the legal indictment document that details the actions taken by the fraud perpetrators:
Here is an article and link to the press conference. Money laundering and thievery involved 10 countries, many of the top banks, and total theft was in the $50 to $100 million range from over 1,000 people.
Spread the word and this information to others. It is important to report any fraud attempts immediately to https://www.ic3.gov/default.aspx.
Home builders and developers are the backbone of this country. They work hard, take risks, and create more wealth for society than any other sector of the economy. If you are a home builder and concerned about your results - you can do better! If you want to find out more, call me at 303.525.4944 or email me at email@example.com and LinkedIn is a great place to find out more about my credentials, background, and references.
My first three questions when you call are usually:
1) How many units do you sell per year?
2) What is your average sale price range?
3) What is your projected net income for the current year?