Former Aspen couple accused of real estate loan scam
December 15, 2009
Total Loss:
$100,000
A former Aspen couple has been accused of bilking consumers across the United States out of upfront fees for real estate development loans that never materialized. Instead, Donald Sterling Whitlock, 39, and Erin Reese Whitlock, 40, transferred the money to their personal accounts, the Colorado Attorney General's Office alleged in a civil lawsuit filed in Denver District Court. According to the complaint, beginning in April 2007, the Whitlocks formed at least 15 companies to deceive consumers into believing they would receive a real estate loan from legitimate and well-known companies.
Source:
Denver Post
Posted in:
Internal Fraud