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Real estate fraud case settled with Atty. General
A $120,000 settlement has been reached with multiple Tucson defendants for their roles in what state Attorney General Terry Goddard called a fraudulent real estate scheme.
Those agreeing to the settlement included Andrew T. Silverstein, VinLan Ventures doing business as Re/Max All Executives, and Vincent Volpe. They must pay $84,000 toward restitution and $36,000 to the attorney general’s Consumer Fraud Revolving Fund.
The agreement follows a $60,000 settlement earlier this year in the same case against four other defendants: Tucson Mortgage Co., WGA Enterprises LLC and William and Jane Doe Anastopoulos.
According to the attorney general’s report, the scheme involved putting unqualified rent-to-own buyers into investment homes. Eventually many of these homes were foreclosed, causing harm to the investors, lenders and rent-to-own home buyers, according to the attorney general.
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