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Man guilty in $100 million property scheme

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Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
The story reminds us that a fool and their money ...
 

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Those "fools" were deceived by inflated appraisals among other things.


"As alleged in the complaint, the defendants sold most lots in the development for $125,000 based on inflated appraisals by Anderson even though the lots had tax values of $20,000 or less. Many of the lots could not realistically be used to build homes because none of the lots included water and sewer systems, and many were too small to support a septic tank or a well."
 

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
The NCAB has the power to look at any or all of the files in his office and should have already done so. I expect the FBI could share one or two if they happen to have custody of them. They had wtwo chances. One in 2006 and one in 2007 when complaints were filed against him. (I don't know him, never saw him and have never appraised in his area or county)

It PIXXXXXXXs me off to see appraisers named in newspapers as being involved in fraud, being indicted or named as un-indicted co-conspirators in well publicized cases yet still out there working.

This is why I am in favor of emergency suspensions (as Colorado did) when it can be shown to a judge that probable cause exists.
 
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