Update: D.A. Helps Homeowner Recover Funds Taken In Real Estate Scam

After being scammed, a local homebuyer got some good news. The Shasta County D.A.’s Office Real Estate Fraud Unit was able to recover “much” of the funds in a case of fraud. A Shasta County homebuyer had fallen victim to a scam that could have lost them a very substantial amount of money. The District Attorney’s Consumer Protection/Real Estate Fraud Unit recently learned of someone being tricked into sending their down payment money to a fraudulent account. The way it works is during the closing process someone sends a spoofed email that appears to be from the real estate agent, settlement agent, or another trusted individual with false instructions for wiring the closing funds. By following the instructions the homebuyer ends up sending their nest egg to an account where it’s quickly withdrawn and rerouted to an offshore account or converted to crypto currency. Once that happens, the D.A.’s Office says it’s nearly impossible to recover the money…except in this case. The warning is still there. To avoid such a rip-off, it’s suggested that email should never be considered a secure way to send financial information and only previously known and validated phone numbers should be used for any sort of confirmation.


© 2022 KWLZ-FM. Internet Development by Frankly Media.