Originally Posted by
flyallnite
They are out of Florida. The laws there are very favorable for this sort of scheme, and make it easy for the perp to weasel out of any repercussions. There are still real estate scams going full steam there. I think the guy who scammed a bunch of DL pilots with a concert promoting scheme was out of Florida also. It's a great state, I love the place but don't fall for the phony get rich quick schemes! Be careful out there!
Florida has a very tight homestead exemption policy despite bankruptcy, business fraud, etc if you pay your property taxes it's nearly impossible to lose your homestead, so the crooks set up shop and just pour money into real estate as a "homestead."