When Fraudsters Get Caught: Life After Fraud

🎯After getting caught for fraud, the fraudster received three years probation and had to forfeit his mortgage brokerage and business licenses.

🌐To continue working in the mortgage industry, the fraudster transferred his brokerage business license to someone else and worked as a consultant.

💰Unable to afford his former lifestyle due to the financial consequences of the fraud, the fraudster had to sell assets and received support from a friend.

😸The fraudster decided to start flipping houses as a way to make money, but also became involved in creating synthetic identities.

🤔The fraudster used fake banks to prove financial stability and reserves when applying for loans, avoiding scrutiny from lenders.

What were the consequences of being caught for fraud?

—The fraudster received three years probation and had to forfeit his mortgage brokerage and business licenses.

Did the fraudster continue working in the mortgage industry?

—Yes, the fraudster transferred his brokerage business license to someone else and worked as a consultant.

How did the fraudster support himself financially after the fraud?

—The fraudster sold assets and received $9,000 per month from a friend who bought his business.

What did the fraudster do to make money after the fraud?

—The fraudster started flipping houses and also became involved in creating synthetic identities.

How did the fraudster avoid scrutiny from lenders when applying for loans?

—The fraudster used fake banks to prove financial stability and reserves.

00:03The fraudster received three years probation after getting caught for fraud.

00:14Losing his mortgage brokerage and business licenses, the fraudster found a way to continue working in the mortgage industry as a consultant.

00:31Facing financial challenges due to the consequences of the fraud, the fraudster had to sell assets and rely on support from a friend.

02:59The fraudster began flipping houses as a means of making money, and also got involved in creating synthetic identities.

05:28To avoid scrutiny from lenders, the fraudster used fake banks to prove financial stability and reserves.