Man Arrested For Alleged Real Estate Scam In Orlando
Posted: 1:04 pm EDT July 25, 2008
ORANGE COUNTY, Fla. -- An Orange County man was in jail for trying to sell a home he didn't even own.Patrick Torre, a licensed real estate broker, was taken into custody Friday morning. Investigators say Torre was behind an internet real estate fraud scheme.The property detectives allege Torre used to persuade his victim into investing $146,000 was a small yellow, one bedroom house. The problem was he didn’t own the house.The owner of Tower Reality Group said nothing as detectives took him to the Orange County jail Friday morning. Investigators said Torre used a forged warranty deed and a fake bill of sale to entice the victim into buying half the downtown Orlando property as an investment."The actual owner of the property at the time when the scheme began was not aware and is aware and they are cooperating," said Det. William Cruz of the Orange County Sheriff's Office.Detectives said the plan was to flip the house and split a $100,000 profit. But that was back in May of 2006 when the market was hotter.Detectives said the victim knew Torre was a licensed real estate broker and trusted him before the fraudulent sale. It was only in March when the victim did some research that he discovered Torre actually held no right to the property.Detectives with the county’s white collar crime unit are concerned Torre may have tried the scheme on other investors."I just wanna let the public know no crime reference mortgage fraud or real estate is going to be unpunished," added Cruz.Channel Nine also found out the house has since been foreclosed on and a check on the web showed Torre’s Tower Realty Group is located on Dr. Phillips Drive in southwest Orlando.
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