A Las Vegas man pleaded guilty to serving as a straw buyer in a scheme devised by several conspirators to obtain influence over the way homeowners’ associations allocate their business contracts. The Department of Justice confirmed that Daniel Solomon, 39, was a straw purchaser at the Vistana condominium complex in Las Vegas. Authorities claim Solomon and co-conspirators purchased multiple condo properties to obtain influence over the community homeowners’ association. Once the conspirators gained board influence, they directed remedial construction contracts and lawsuits to one favored law firm and a construction company. Solomon allegedly signed and submitted fraudulent loan applications to close on the condo properties. He also claimed to be living in one of the units when, in fact, he resided at another property. Once Solomon made the straw purchase, he joined the HOA board of directors and used his position to direct the allocation of business contracts, the DOJ said. Solomon officially pleaded guilty to one count of conspiracy to commit mail and wire fraud. Write to Kerri Panchuk.
Ninth person pleads guilty in Vegas HOA scam
Most Popular Articles
Latest Articles
Navigating movement in the mortgage industry series: Post-closing matters are important too
Introduction As part of our ongoing discussion on the concept of movement in the mortgage industry, it is readily apparent that the failure of mortgage companies to pivot or tweak their business models to satisfy changing market and other conditions has resulted in consolidation based on liquidity, buyback, financial and other concerns. Regardless of whether […]
-
Navigating movement in the mortgage industry series: Due diligence in mergers and acquisitions
-
Southern Nevada real estate outlook: 2025 predictions
-
Tough Calls: Lessons from Volcker, inflation, and the Fed’s crossroads
-
What to expect in 2025: Securing customer insurance in a volatile real estate market
-
Professional fix-and-flip market poised for growth in 2025