Lawyer gets caught rigging tax lien auctions. Post 150

Attorney sentenced to 1 year for rigging bids at tax lien auctions

Baltimore Sun By Jessica Anderson May 5, 2010

Tens of millions of dollars in tax lien purchases were affected by rigging

An attorney was sentenced on Tuesday to one year in jail and forced to pay $800,000 in criminal fines for rigging bids at tax lien auctions in Baltimore and five counties, officials said.

Harvey M. Nusbaum pleaded guilty to a one-count charge of conspiring to submit non-competitive and collusive bids at tax lien auctions, according to a release from the Department of Justice.

Tax lien auctions are used to recover money owed by property owners who failed to pay property taxes. When they fail to pay their taxes, the county can attach a lien, which, if unpaid can be sold at auction. The highest bidder for the tax lien has the right to collect the amount of the lien from the delinquent taxpayer, along with interest and fees including attorneys’ fees and if the owner fails to pay the interest and fees, which can amount to thousands of dollars, the lien holder can foreclose on the property.

The release said that Nusbaum and others allocated tax liens among themselves to suppress the amount bid on the liens. By reducing the amount they bid, they were able to secure more liens for less money and in some cases they were able to foreclose on properties they obtained at non-competitive prices. Tens of millions of dollars in tax lien purchases were affected by the rigging, the release said.

The full story: http://www.carrollstandard.com/politics/56-the-verdict/8447-baltimore-shyster-jailed-for-bid-rigging-tax-lien-auctions.html

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Coach Mitch’s REFLECTIONS™

 

Crime Pays – Until it doesn’t

This is an old story. People think that they can outfox everybody. Wrong. At some point, somebody makes a mistake, somebody gets greedy, somebody brags, somebody gets stupid, etc.

The best policy has always been and will always be – honesty!

You can steal illegally

By doing a good negotiation, you can “steal” legally. Tax delinquents are WILLING to give good deals AND are ABLE to give great deals because so many tax delinquent properties are free and clear.

DSGGD

Desperate Sellers Give Great Deals. REMEMBER IT!

This is your mantra. This is your calling. This is the “way.” Search for desperate sellers, be a genuine person, and let nature take its course.

Coach Mitch’s “Ridiculously Simple System…”™ is the best way I know of to consistently put yourself in front of sellers who are desperate. If all you speak to are desperate sellers, then even the ever lurking Murphy can’t stop you.

See Coach Mitch’s “Ridiculously Simple System…” ™ for details.

Go out and help someone,