Thread: Foreclosure Bank Inspector Jay Vincent going to Prison

Jay Vincent gets 5½-year prison term

Prosecutors say Vincent and an associate defrauded 20,000 people out of more than $1 million by charging them to become inspectors through a business called Foreclosure Bank Inspection. No inspectors were hired, and the business had no contracts with banks, according to the government.

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Assistant U.S. Attorney Michael MacDonald said anyone who was a victim of Vincent's scheme should contact the U.S. attorney's office within two months by calling (616) 808-2034 and asking for victim witness coordinator Kathy Schuette.

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Only 5 1/2 years? It should be double that.

Originally Posted by Randy Aldering

Only 5 1/2 years? It should be double that.

But those tax dollars

Went to court in Grand Rapids. I don't know anyone who fell for this.

I feel sorry for the people who got sucked into this SCAM..... but, I wonder how many people have been convicted in other real estate related scams since 2006 when the market started to turn. I bet the number of real convictions is miniscule. Sure, press releases are one thing, but justice is quite different.

The damages here are likely only the money paid to these people, but what about the billions directly lost in bad mortgages, fallen property values, phony credit counseling and repair, etc.???? I wonder how much money has slipped away to people who have unjustly profited????