Fresno man accused of foreclosure scam

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By KSEE News

Story Published: Dec 3, 2008 at 9:40 PM EDT

Story Updated: Dec 3, 2008 at 11:04 PM EDT

The Fresno Police Department held a news conference Wednesday afternoon to release details of a foreclosure scam that has now left many families searching for another place to live.

Police said 66-year-old Samuel Haley ran the scam under two business names, "Capital Investments Inc." and "Premier Plus Mortgage." Haley allegedly used an electronic device issued to licensed real estate agents to obtain the keys of foreclosed homes. He would then offer the homes as rentals for under $700 per month. He also promised to help renters' credit to allow them to purchase their own homes within two years.

Police said Haley pocketed $26,000 and left the renters with nothing.

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