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Author Topic: BEWARE Colorado Scam Artist  (Read 6387 times)

Offline NativeTexan19

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BEWARE Colorado Scam Artist
« on: November 16, 2005, 09:07:47 pm »
For RE investors in Colorado and nationwide:  There is a scam-artist in the Pueblo area that does deals in Pueblo, Denver, Colorado Springs, and surrounding areas.  This person took nearly $100k from me and pocketed almost a quarter mil on a deal.  He targets credit investors NATIONWIDE to use their credit and assets to acquire property in his area (I live in Texas, and he found me).  His track record - easily discoverable via public records - is to acquire property via quitclaim or other methods, use a credit investor to get the property refinanced with cash out, then abandon the property, sometimes stripping it of structural fixtures.

There is a judgment, a matter of PUBLIC RECORD, against this person for $300k +, for defrauding an investor in similar circumstances to mine.  

Since this is public record, there should be no adverse consequence in posting the info on this site.

The perpetrator's name is Vic Ocana, aka Amos Ocana, aka O Cana & Associates, aka K&A Property Management, aka Euro Financial Services.  

In my transaction, he involved other parties, William M. ("Billy") Pollard, and Andy Pacheco, both of Pueblo, CO.  This deal was for a re-hab which he occupied and was to use the equity, in part, to finish improvements and then re-sell, while paying a lease payment to cover my costs.  

He forged contractor estimates/receipts which the appraiser, Andrew Link, accepted, and which resulted in an grossly over-valued appraisal.

There is nothing inherently unethical about using a credit investor for leverage in an equity-sharing real estate deal.  However, when the investor is enticed to participate and then loses 100% of his money, forced to collect (if ever) by onerous legal processes, it becomes fraudulent and criminal.  

I do not want anyone else to become prey to this scandalous person.  

Feel free to reply if you need more documentation.

 




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