Los Angeles herald., 1893-01-13
LOOK OUT FOR LAND SHARPERS.
How Eastern Swindlers Work
q New Game.
A Lot Of Sharp Practice to Get 8
Deed for Nothing.
There Is No Telling How Far This
Scheme May Have Been Worked
With Trusting Land Owners
who Wanted 30 Sell.

1t will be remembered that few
months ago an extensive scheme of
swindling in bogus mortgages was un-
earthed in this city. Byram, Parker &
Co., property agents, who do an extern
tensive business with nonresident
owners as we'll as with city property
owners, in their varied correspondence,
have unearthed two or three frauds.
The matter is now in the hands of the
authorities and is being investigated
A HERALD reporter called at their office
yesterday, and Mr.. Parker gave the out
line of two fraudulent schemes which
are being carried on by swindlers in st.
Louis, Chicago and in Philadelphia,
possibly with connections in Los An
gelee.
Mr.. Parker said: "We are in receipt
OF letter from these swindlers in St.
Louis, written in business-like hand
and worded in the most correct business
form, written on the letter head of, we
Richard Roe, sr.' The letter is ad-
dressed to gentleman in this city who
owns lot valued at, we will say $4,000.
Il was on a short visit to Los Angeles
recently, and noticed your lot; it struck
me favorably; now, as l have concluded
to spend the winter in your city for the
benefit of the health of my wife, and as
I wieh to come at once will make you
cash offer of $4,000 for your lot on
Grand avenue. As / wish to build at
once, please notify me as to your deci-
sion. If the offer is accepted, please
have abstract of title made, execute
deed to me and send them in escrow to
the - bank in st. Louis, to be deliv-
cred to me on payment of the above
sum; giving me permission to have my
attorney examine the same
"Now that appears to be straight
business letter." said Mr.. Parker. "a
large number of sales of real estate are
made dy sending deeds to banks to be
delivered upon payment of the purchase
price, and perhaps nine men in 10
would send on the deed without in
quiring as to the existence of the des-
ignated bank. And in that is the
swindle. The gentleman who received
this letter sent on his deed to the bank
designated by the swindlers, but which
has DO existence. He sent a genuine bona
fde deed. The men who wrote this letter
Offering to purchase, evidently had the
letters addressed to the mythical bank
put in their postofice box. Now,
when they get this deed, they
can 90 to bank and borrow,
say $500, upon it. Saying to the bank
as reference, telegraph to the man from
whom / have purchased the property
and also to the parties who made out
the abstract and deed. Perhaps this is
done, and the owner telegraphs back
that he has sold the lot to Mr. Richard
Roe, and that the abstract is correct.
The $500 is paid and the swindler mort
cages the mans lot. The bank has q
bona fide deed and the owner has
mortgage upon his lot, which he will
have to pay for his mistake of entrust-
ing his deed to man or, rather, fc-
titious bank. l do not know, as yet,
whether the Los Angeles gentleman has
suffered in like manner, but we have
learned of the fraudulent scheme, and
perhaps in time to prevent the deed
from being mortgaged by these sharp
ers. There is a swindling firm of this
nature also in Chicago, operating on the
same plan, and perhaps they are con-
nected."
another swindle is being perpetrat-
ed upon nonresident owners" contin-
ued Mr.. Parker. 4.sg
' Recently we received letter from a
nonresident owner, who it seems was
not an owner, requesting us to pay his
taxes upon certain lot. We found
that the taxes had been paid, and by
the owner. On investigation we learned
that the gentleman, citizen of Phila-
delphia, had deed for the same piece
of property. The fraudulent paper had
upon 1t the usual reference to the book
of deeds, giving the page upon which it
was recorded, date, at whose request,
etc. On reference to the book it was
found, of course, that no such deed had
been recorded-every detail in the in
strument had been forged. In this case
the purchaser has, of course, no redress,
excepting from the man who sold him q
lot that he did not own" sasa aoas
The Supervisors. scs frss