Industry News

Real estate fugitives take the money and run

Part 1: Real estate's most wanted

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Editor's note: With billions of dollars flowing in and out of the real estate industry each year, the industry sees its share of fraud and other criminal misdeeds. In this special three-part series, Inman News uncovered the most common schemes, infamous scandals and a host of fraudsters who are still on the lam. (See Part 2: Real estate fraud schemes run rampant and Part 3: From savings and loans to Whitewater.) You probably haven't seen Judith H. Hooper lately. Hooper, 55, is a former mortgage broker who allegedly changed her name to Jerry Dale Hunter and arranged for fraudulent loans to originate through a company called American Mortgage Exchange. She is one of several people who were indicted in an alleged elaborate mortgage fraud scheme, based in Georgia, that collected about $20 million. The alleged "flipping" scheme involved the purchase of residential properties for resale at artificially inflated prices. Those involved reportedly would use fraudulent sellers and borrower...