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‘Detroit Free Press’ Passes On O’Keefe HUD Tax-Scam Story

Via Wired via Media Blog:
. . .This time, there are no prostitutes involved, just a shady, and serious, tax-fraud scheme. The ploy involves the Obama administration’s 10 percent tax credit to first-time home buyers. The law says that the credit maxes out at $8,000 for an $80,000 home. But at the Detroit office of the Department of Housing and Urban Development, the rule seems open to interpretation. O’Keefe asks a staffer, What if I bought a place for $50,000, but the seller and I agreed to write down $80,000 as the purchase price? “Flip it any way you want,” the staffer replies. What if the place is worth much less — like only $6,000? “Yup, you can do that.”

That's the scam above. Click the link for the entire part where O'Keefe tapes the "Free Press" editor passing on the sccop. - Greg Pollowitz


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