Miami Named U.S. Fraud Capital Thanks To Hotbed Of Hustlers, Fraudsters And White-Collar Criminals

In Episode 123, expert Peter Zalewski of Condo Vultures interviews former investigative reporter John Fakler for the "Real Estate Players Profile" about how and why the Miami area is a hotbed for white-collar crime. Fakler also discusses a recent Miami Herald article that identifies South Florida as the "nation's No. 1 fraud capital." In Segment 1, Fakler discusses being raised in New York, unknowingly working at a Long Island boiler room and becoming an investigative reporter who focused on white-collar crime and fraud in South Florida. In Segment 2, Fakler talks about some of the various scams that have occurred in South Florida since the 1980s, including the stock market bubble in the late 1990s, the real estate bubble in the 2000s and the possibility of a pandemic bubble today given the amount of government money being distributed. Fakler also shares some colorful details about a scammer that he wrote about from the inception of the fraudulent company to the founder being sentenced to prison. In Segment 3, Fakler discusses why South Florida is a hotbed for white-collar crime and fraudsters, and what he expects to surface in the months and years ahead as a result of the pandemic. Fakler also discussed what newly arrived residents should be on the lookout for while living in South Florida. Please be sure to patronize our advertising supporters: Condo Vultures® Realty, Condo Vultures® Condo Correction Tours, and CVR Realty.  Click here to subscribe to the Condo Vultures® Distressed Market Intelligent Report.