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It took 90 minutes for the Daily News to steal the Empire State building

D

DisgruntledVirus

Lifer
In one of the biggest heists in American history, the Daily News "stole" the $2 billion Empire State Building.

And it wasn't that hard.

The News swiped the 102-story Art Deco skyscraper by drawing up a batch of bogus documents, making a fake notary stamp and filing paperwork with the city to transfer the deed to the property.

Some of the information was laughable: Original "King Kong" star Fay Wray is listed as a witness and the notary shared a name with bank robber Willie Sutton.

The massive ripoff illustrates a gaping loophole in the city's system for recording deeds, mortgages and other transactions.

The loophole: The system - run by the office of the city register - doesn't require clerks to verify the information.

Less than 90 minutes after the bogus documents were submitted on Monday, the agency rubber-stamped the transfer from Empire State Land Associates to Nelots Properties LLC. Nelots is "stolen" spelled backward. (The News returned the property Tuesday.)

"Crooks go where the money is. That's why Willie Sutton robbed banks, and this is the new bank robbery," said Brooklyn Assistant District Attorney Richard Farrell, who is prosecuting several deed fraud cases.

....continue at the link
Click to expand...

edit: forgot link

1: Make some documents using "witnesses" from King Kong
2: Submit fake documents
3: Own skyscraper
4: .....
5: Profit?
 
Originally posted by: Scarpozzi
4: ..... = Federal Pound-me-in-the-@ss Prison
Click to expand...

Exactly - the only time something like this would remain successful is if it remained undetected/unchallenged.

As soon as a lawyer got his hands on it, the fraud indictments would fly.
 
Originally posted by: rivan
Originally posted by: Scarpozzi
4: ..... = Federal Pound-me-in-the-@ss Prison
Click to expand...

Exactly - the only time something like this would remain successful is if it remained undetected/unchallenged.

As soon as a lawyer got his hands on it, the fraud indictments would fly.
Click to expand...

This is true, but I have read a couple stories where it worked. They targeted homes where the owner had died and it was vacant. After the fake transfer docs were filed, they listed the home for sale at a near-giveaway price so it sold right away. The sale closed and they got away with the money before the true owner (executor/estate) ever found out about it.

What I was interested to know is how they resolve it but that wasn't covered in the stories I saw.

A related scam which is popular is offering homes for rent on craigslist when the person putting up the ad isn't the homeowner. They scammers find vacant homes, find renters, and collect the rent for as long as they can get away with it.
 
Originally posted by: kranky
Originally posted by: rivan
Originally posted by: Scarpozzi
4: ..... = Federal Pound-me-in-the-@ss Prison
Click to expand...

Exactly - the only time something like this would remain successful is if it remained undetected/unchallenged.

As soon as a lawyer got his hands on it, the fraud indictments would fly.
Click to expand...

This is true, but I have read a couple stories where it worked. They targeted homes where the owner had died and it was vacant. After the fake transfer docs were filed, they listed the home for sale at a near-giveaway price so it sold right away. The sale closed and they got away with the money before the true owner (executor/estate) ever found out about it.

What I was interested to know is how they resolve it but that wasn't covered in the stories I saw.

A related scam which is popular is offering homes for rent on craigslist when the person putting up the ad isn't the homeowner. They scammers find vacant homes, find renters, and collect the rent for as long as they can get away with it.
Click to expand...


That and what about homes where the people/person can't really afford a lawyer. A sheriff looks at the Gov paper work and says get out.
 
Originally posted by: kranky
Originally posted by: rivan
Originally posted by: Scarpozzi
4: ..... = Federal Pound-me-in-the-@ss Prison
Click to expand...

Exactly - the only time something like this would remain successful is if it remained undetected/unchallenged.

As soon as a lawyer got his hands on it, the fraud indictments would fly.
Click to expand...

This is true, but I have read a couple stories where it worked. They targeted homes where the owner had died and it was vacant. After the fake transfer docs were filed, they listed the home for sale at a near-giveaway price so it sold right away. The sale closed and they got away with the money before the true owner (executor/estate) ever found out about it.

What I was interested to know is how they resolve it but that wasn't covered in the stories I saw.

A related scam which is popular is offering homes for rent on craigslist when the person putting up the ad isn't the homeowner. They scammers find vacant homes, find renters, and collect the rent for as long as they can get away with it.
Click to expand...

Interesting. I wonder if the renter has any renter rights in this case or if they can be immediately evicted without any warning.

 
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