If I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…
