Apparently releasing prisoners from jail isn't the only thing that has slipped through the cracks:
The Daily News, in an attempt to expose New York City's vulnerability to deed-, mortgage-, and property-fraud, drew up fake notarized documents and filed them with the city; effectively transferring ownership of the Empire State Building from Empire State Land Associates to the fake "Nelots Properties LLC" (Nelots="stolen" spelled backwards).
This was a part of a larger expose by the Daily News aimed at illuminating the very real possibility of more modest property fraud that can go unnoticed or unchecked by the City of New York.
The FBI has found a 31% rise in mortgage fraud and Suspicious Activity reports and over $813 million in loses has been sustained by lenders since 2006.
Here's the story:
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This Story is amazing. I never had a clue this could be possible. But i guess when you think about it this couldn't be that hard to do. Just imagine a property that no one notices within the last few years and how much money could be made if you steal the house and then sell it as if it was your own. How could this process be stopped?
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