Officials said the defendants intended to profit by funneling substantial sums of money back to themselves and others from excess sales proceeds under the guise of remodeling, repair costs or marketing service fees.
Trial evidence showed that Baum, a real estate agent, told potential home buyers they could receive substantial funds at closing under the guise of “repair costs,” if they agreed to buy the homes at an inflated price, prosecutors said.
Saturday, October 13, 2007
Joplin real estate agent sentenced to seven years in prison
Joplin real estate agent Brandon Baum was sentenced to 87 months in federal prison Friday after a jury found him guilty of mortgage fraud involving properties in Edmond, Okla.:
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3 comments:
Randy, I question the use of the term "realtor" in lower case. The term "REALTOR®" is always uppercase and is a registered trademark, used to designate members of the National Association of Realtors. It is NOT to be used in a generic sense to refer to real estate agents.
When it is used incorrectly, it damages the National Association of REALTORS® and puts the trademark in jeopardy. Please don't do this.
I checked, and Brandon Baum is not a member. Therefore, he is a real estate agent, but not for long. His license will be revoked due to his conviction.
I was blissfully ignorant of that before your note. I will make the change. Thanks for straightening me out.
How about the fact that Brandon is Hershey Baums son. The same one who had Hershey's Western Wear and went to federal prison for arson. I guess the apple doesn't fall far from the tree.
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