Real estate fraud scheme targeting Dominicans

“New Yorkers should always be suspicious of speculative real estate transactions where they are asked to purchase property without anyone seeing them,” said Attorney General James. “Purchasing overseas real estate can be complex and expensive, so individuals should take precautions to ensure they are dealing with a legitimate intermediary.” We thank Congressman Espaillat and are proud to work with him to ensure the victims of this fraud receive justice.”

Attorney General and Rep. Espaillat recommended several precautions to help potential investors avoid falling victim to real estate fraud.

• Verify the legitimacy of real estate opportunities using Google, Better Business Bureau, and social media searches.
• We personally inspect the property site and project site to assess the feasibility and current status of the project.
• Visit a company's physical office to see how it operates.
• Speak with previous and current customers of the company or individual you are proposing to invest in to uncover potential problems.
• Consult with a trusted legal professional to verify property ownership, understand legal documents and terms, and conduct background checks on the parties involved.
• Keep records of all communications, documents, and financial transactions related to your investments.
• Avoid cash transactions and be wary of deals that seem too good to be true.