A Detroit-area real estate broker who represented Fannie Mae and Freddie Mac listings faces up to 20 years in prison for flipping more than 20 homes to buyers he’d already lined up. Samer Salami, 33, is scheduled to be sentenced Feb. 19 after pleading no contest to charges that he conducted a criminal enterprise in a real estate fraud scheme.

Prosecutors said Salami listed homes repossessed by Fannie and Freddie (real estate owned properties, or “REOs”) in the multiple listing service. After he had an offer for a home from a “bona fide purchaser,” he would broker a sale at a lower price to a company that he controlled. That company, Trademark Assets, would then sell the property to the bona fide purchaser at the higher offer price.

The deals generated $265,000 in fraudulent profits and commissions for Salami, prosecutors said. Source: hometownlife.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription