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This is a form of amnesty behind our backs.

Well today's news is not behind our backs anymore, "W" wants to go for this as he always has, blanket amnesty!

IRS Steps Up Real Estate Fraud Investigations

(December 12) -- According to the Internal Revenue Services, the number of investigations into real estate fraud and money laundering has jumped from 107during the 2001 fiscal year to 215 this year. At the same time, prison sentences for convicted real estate criminals have climbed from an average of two years to about 46 months.

Fraud has become more prevalent due to the hot housing market; and unscrupulous mortgage brokers and other industry professionals have profited from preying on low-income families, lenders, and investors. Most of the crimes involve property flipping; dual settlement statements, one of which details the accurate value and is given to the homebuyer while another document with an inflated value is presented to the lender to secure additional funds; and the use of fraudulent employment or credit histories to help borrowers qualify for home financing.

Source: Inman News Features (12/11/03)