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Hacker gets 10 years for stealing $20M in home buyers’ down payments (arstechnica.com)

submitted 5 days ago by [email protected] to c/[email protected]

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Instead of celebrating a closing, some US home buyers lost everything.

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[–] [email protected] 53 points 5 days ago (10 children)

Insert Nigerian scam joke here.

"To seize large down payments on homes, Ayeni and co-conspirators sent phishing emails to US title companies, real estate agents, and real estate attorneys."

How are these professionals not ultimately responsible in making the consumer, who seems to have done nothing wrong but trust state licensed companies and real estate individuals, whole?

[–] [email protected] 3 points 4 days ago

Oof. I can’t imagine how devastating it would be to lose a down payment. Many people, especially first time home buyers, are throwing every spare bit of savings, and need to borrow money from friends and family, for that payment.

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