![]() The scammer was very insistent, but I asked for a copy of the purchaser’s identification, which is something we would require at closing anyway. In this case, shortly after wiring us an excessive amount in relation to the closing, the scammer called me to say that he and his wife were divorcing and that we needed to wire a portion of the funds back (her portion – which he said was a little over $100,000). Sending a check that is larger than required and then asking for some of the extra amount back is a very common scam. ![]() While the check looked legitimate and was written on a large, reputable financial institution, the check came with no cover letter or instructions, which was suspicious, as was the extra amount over and above the money required. Someone on behalf of the purchaser sent our firm a check that was far larger than the amount required. I began communicating regularly by email with the purchaser, who indicated he was in China. Bowling Green is a fairly diverse city with lots of foreign nationals living and working in our community, and we’re better for it. It didn’t raise any alarms for us that the buyer was overseas. This is fairly standard and something we’ve done in countless deals for clients previously. A buyer in China wanted to buy the properties, and he needed someone to hold earnest money in escrow and assist with any legal details that might arise before he could come to the United States. I was contacted by a local real estate developer who owned several apartment complexes. In fact, our own firm was hit with an attempt a few weeks ago that we wanted to tell you about so you can see how these type of scams work, and how you can avoid getting taken. ![]() The scams have enough legitimacy that they sound like they could be real business transactions. The scammers are getting smarter and more sophisticated, and they’re now targeting law firms and other businesses with well-planned attempts to get money. 5 tips to help your business avoid a scamĮnglish, Lucas, Priest and Owsley, LLP Brett ReynoldsĮveryone has gotten scam calls and emails.
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