King of Vegas real estate scams

Long article at Business Week on this, if you're interested.

Quote:

Before the market crashed and home prices tumbled, before federal investigators showed up and hauled away the community records, before her property managers pled guilty for conspiring to rig neighborhood elections, and before her real estate lawyer allegedly tried to commit suicide by overdosing on drugs and setting fire to her home, Wanda Murray thought that buying a condominium in Las Vegas was a pretty good idea.

here

Yeah, only a scoundrel would want to buy a one-half of one percent interest in a condominium unit ... and only another scoundrel would sell a one half of one percent interest to him.

Quote: rxwine

Long article at Business Week on this, if you're interested.

Very good article. It's a dangerous world.

It seems like there are a lot of widows in the world, who dream of buying a condominium where they don't have to worry about maintaining the roof and shoveling snow, a quiet place where they can enjoy their retirement.

There are a number of American widows who live in Mexican cities. They tend not to own cars or own their homes. They rent, and either walk or take taxis and buses. Generally the weather is comfortable, but they can usually afford to hire help to maintain their things. There is a wide choice of affordable restaurants. To be fair, most of these women had marriages that took them overseas when they were younger. So they are less intimated by living overseas.

A lot of people are horrified by retiring to another country where the cost of living is not as high. But it is not all peaches and cream in America.

Reads like something Tony Soprano would have thought up.

It ain't all peaches and cream in the various ex-patriate communities either.