Local Real Estate Agent Samir Cabrera Indicted for Fraud

Full story: FOX 4 Florida 36
United States Attorney Robert E. O'Neill today announced the arrest of Samir Nel Cabrera and the unsealing of an Indictment charging him with Wire Fraud. Full Story
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Mark

Cape May, NJ

#1 Jun 19, 2008
Serves this guy right. I hope he gets the book thrown on him. Myself and others got involved with Samir and now I am sitting on 4 homes that I foolishly trusted him on. I lost over a million dollars trusting this ---hole. His partner got what was coming to him, now it is his turn. Hopefully they get all of the rest involved. I am sure they know who they are and will be arrested soon also. This is the best news I have heard in a long time!
Tavi

Cincinnati, OH

#2 Jun 19, 2008
thankfully I did not bite into the getting rich quick, but my children did and they have paid to their dismay. What goes up must come down. I did real estate in NY and was left holding the bag and learned a valuable lesson. I hope that this does not end with samir, and they hunt and find the other fast talking agents and on site repres. that conned people and soak them. If it is good for Samir, then they others should be held accountable. Wonder what they are doing now that there is no market. There is a glut and only foreigners can afford to buy here. Turn a nice town to a sleazy place. Look at downtown condos..no one in them. Ft Myers should be ashamed of the way they programed the feast for felons. It started with Bruce Grady when he gave aways the waterfront to Sullivan and his group. Grady is gone and Sullivan, Like Frank D'allesandro is dead. Too much stress or guilt.
Beth

Valdosta, GA

#3 Jun 20, 2008
Mark wrote:
Serves this guy right. I hope he gets the book thrown on him. Myself and others got involved with Samir and now I am sitting on 4 homes that I foolishly trusted him on. I lost over a million dollars trusting this ---hole. His partner got what was coming to him, now it is his turn. Hopefully they get all of the rest involved. I am sure they know who they are and will be arrested soon also. This is the best news I have heard in a long time!
Agree with everything you say. He is finally getting what he deserves. Indeed, let us hope the others involved are right behind him on the way to jail.
tavi

United States

#4 Jun 20, 2008
Beth wrote:
<quoted text>
Agree with everything you say. He is finally getting what he deserves. Indeed, let us hope the others involved are right behind him on the way to jail.
Boy, that is going to be one big chorus singing the blues.
Lin

New York, NY

#5 Jun 20, 2008
Let's remember that there are no guarantees on making money and if something sounds too good to be true, it probably is. However, just because investors lost money does not mean that he is guilty. We need to trust that the courts will find the truth and not find someone guilty in the court of public opinion. It is better to be responsible and logical rather than jump to conclusions. It is also important not to judge others.

I am sure I will get reemed for this post but look at your lives and what you have done and try to tell me you have never done something wrong.
Tavi

United States

#6 Jun 20, 2008
I actually feel sorry for him. He is 31 years old, and probably has a brain. It is just not wired right. Get rich quick. He certainly knew how to funnel the money. I think he was left holding the bag. The grand jury does not conclude guilt, only allows the courts to proceed and I will be darn sure, they have lots of evidence. The evidence has to be pretty strong and can be validated.The problem here is not what is right or wrong, it is what is lawful or unlawful.You know like the same story people give when something is not condusive with their life. No, I don't even run a red light because I don't want to be in trouble. It is just not worth it. The people clamoring probably have been duped. When people get duped they get mad because they can't believe they were so stupid. So in a new york heartbeat they had to complain to the authorities who investigated. Walks like duck, talks like a duck...it is a duck
Mark

Osceola Mills, PA

#7 Jun 20, 2008
Lin wrote:
Let's remember that there are no guarantees on making money and if something sounds too good to be true, it probably is. However, just because investors lost money does not mean that he is guilty. We need to trust that the courts will find the truth and not find someone guilty in the court of public opinion. It is better to be responsible and logical rather than jump to conclusions. It is also important not to judge others.
I am sure I will get reemed for this post but look at your lives and what you have done and try to tell me you have never done something wrong.
You may be right, but samir is a piece of shit. I do feel like an idiot trusting him and others, but this does not make what he did okay. He and people like him are what is screwing up our country and economy right now. Scammers are assholes and I hope they all get what they deserve. I hope Samir will be in a cell block like you see on Oz. I hope his soon to be girlfriend Bubba bends him over real hard and he has to toss Bubba's salad everyday! Good luck Samir.
reguy30

Cape Coral, FL

#8 Jun 21, 2008
Well for those of you that got "duped", let me ask you if you are talking about First Homes or in the properties listed in the indictment. You are somewhat victim of the media. How many times did you open your computer ever morning in 2005 and see that the SW Florida real estate market is BOOMING? When you saw that you wanted to know how to be part of it...So, however the case may be, somehow you were put in contact with Samir, who sold homes to investors.
Nearly every realtor in FL was doing that at the time. When speculators invest in property, it almost always happens that someone is left holding the bag. It was you and you have a right to be upset, but take some responsibility yourself. It's called Investor Spec Homes. Spec = Speculation. We all know what is happening down there right now...It sucks, but that's real estate for you. Now if you were part of the properties listed in the indictment, keep complaining, but your homes in Lehigh Acres which is pretty much their area, you should look yourself and wonder what were you thinking buying 3-4 homes with your given financial position at the time. Shame on Samir for his crimes and he will pay dearly for it. Probably after a plea will serve 5-8 years and lose everything. But shame on some for agreeing to be greedy themselves. I have been in SW FL before and have seen Lehigh. Never ever ever would I buy a house in that area. It looks terrible and is getting worse.
And no, I am not Samir's brother, aunt, uncle, cousin, wife, or whatever...just looking at both perspectives
Debbie

United States

#9 Jun 21, 2008
reguy30 wrote:
Well for those of you that got "duped", let me ask you if you are talking about First Homes or in the properties listed in the indictment. You are somewhat victim of the media. How many times did you open your computer ever morning in 2005 and see that the SW Florida real estate market is BOOMING? When you saw that you wanted to know how to be part of it...So, however the case may be, somehow you were put in contact with Samir, who sold homes to investors.
Nearly every realtor in FL was doing that at the time. When speculators invest in property, it almost always happens that someone is left holding the bag. It was you and you have a right to be upset, but take some responsibility yourself. It's called Investor Spec Homes. Spec = Speculation. We all know what is happening down there right now...It sucks, but that's real estate for you. Now if you were part of the properties listed in the indictment, keep complaining, but your homes in Lehigh Acres which is pretty much their area, you should look yourself and wonder what were you thinking buying 3-4 homes with your given financial position at the time. Shame on Samir for his crimes and he will pay dearly for it. Probably after a plea will serve 5-8 years and lose everything. But shame on some for agreeing to be greedy themselves. I have been in SW FL before and have seen Lehigh. Never ever ever would I buy a house in that area. It looks terrible and is getting worse.
And no, I am not Samir's brother, aunt, uncle, cousin, wife, or whatever...just looking at both perspectives
You point of view is right and unfortunately we all have to pay someway.
joseph

Brooklyn, NY

#10 Jun 23, 2008
You guys should know that the land deals mentioned in the indictment were straight up fraud. We were given blue prints of commercial offices and warehouses that were supposed to be built there. There was never going to be anything built there. They made millions buying and selling the same piece of land to their shill companies in one day. Then they walk away not building a thing and the investment group goes into foreclosure. But wait it gets better, then his real estate company tries to buy the land back at foreclosure and sells it again. Maybe the first homes people went in with a blind eye, but the commercial land deals will surely get him a prison term. Its easy to sit there and judge stupid greedy investors, but try and get some facts right.
reguy30

Cape Coral, FL

#11 Jun 23, 2008
I am pretty up to speed on a lot of the real estate that happens down here. In fact, I remember this land deal being presented to me and I declined further entertainment as it just didn't look well organized. Didn't see the illegal actions it would have taken though as I did not pursue it any further than one business meeting with him. That said, I don't doubt that there was fraud involved, I believe you and if the indictment is an indication, then you are right...He will probably do some prison time. I however do know a great deal about the whole First Homes and K.Hovnanian deal. It is 2 very different dealings and if he committed fraud in that too, nobody has came forward with a better excuse than to blame the nose dive the housing market took. Sure, point the finger at Samir, but he wasn't responsible for having some sign for 4 mortgages with a gun to their heads.

That said, your "blind eye" comment is true. I have been in the investor market and I can say practice very ethically, but you have to agree that there are a lot of people who's "blind eye" will be a hard lesson in life on how quickly to trust somebody. Yes, stupid and greedy is a term I use for a lot of investors. Not all, but some. My facts being straight has nothing to do with formulating an opinion. The indictment speaks for itself. My comment was to people calling for his head who were mere First Home Investors....

Joseph, if you were involved in the land deal listed in the indictment, my opinion was not directed toward you. My opinion was formulated from hearing the speculation of this indictment and everything else thru the last year and a half...You guys think we didn't see this coming?
Google News

Sedona, AZ

#12 Jun 23, 2008
REMAX SEDONA/HARRY CHRISTIE v. SEDONA CHOPPERS LLC
File “Non-Party at FAULT” Motion in $1.2 Lawsuit

Sedona, AZ – The lawsuit filed by Robert Wasserman and his partner Clarisse Heller on 12/04/2007 in the Coconino County has taken a new twist as both Defendants REMAX of Sedona and Harry Christie on June 12th 2008 have filed a

NON-PARTY AT FAULT motion. A.R.S.§ 12-2506(A) establishes several liability in Arizona . The statute holds that each defendant is liable only for the amount of damages allocated to the defendant in direct proportion to the defendant's percentage of fault. Section 12-2506 also provides that when assessing the percentages of each defendant's fault, the fact finder "shall consider the fault of all persons who have contributed to the alleged injury ... regardless of whether the person was, or could have been, named as a party to the suit." The percentages of fault assessed against such "non-parties are used only as a vehicle for accurately determining the fault of the named parties."

The persons named as the Non-party’s at fault in the Motion were prior owner Steven Hein of Sedona, The City of Sedona and Tiffany Construction.

When asked for comment Mr. Wasserman was elated.“This is an admission by the Defense that a “Fault” was committed. They are trying to blame everyone but themselves. We have only named REMAX and Christie because they were under our employee, we had a signed contract with them to fulfill their Fiduciary Duties to us and they didn’t, now they virtually admit it by filing this motion, I’m very very happy”

Mr. Wasserman says that he put his faith and trusts in his licensed broker to Disclose his knowledge, if any, of the Uptown construction project, which would have had to be disclosed in writing by State law. It is Mr. Wasserman's and Ms. Heller's contention that Remax Sedona and the dual broker withheld this information, and they are seeking damages in the area of 1.2 million in damages.

When asked about the damage request Mr. Wasserman goes on to say, "I literally left NYC working right next to the “Ground Zero” rebuilding at 101 Barclay Street and had to hear and see that everyday to the construction equivalent “Ground Zero” of the Uptown Construct Project ,the biggest project in Sedona history. I left NY because of that constant construction and the stress it gives off. We moved cross country to buy this business based on inaccurate information and have spent 2 years in a living hell, how do you put a price on that?. " A Motion of Summary Justice has been filed by the Plaintiffs which claim now that a full trial is unnecessary to determine fault, just for Damages. A jury trial has been set for Aug 13th to determine those damages.

Cape Coral Investor

Chicago, IL

#13 Jun 24, 2008
I am one of the investors who had dealt with Samir. He deserves everything that happened yesterday and may the justice system does the right thing. Not that he will pay us back our investment, but at least make him pay for what he has done to innocent investors. I got in for so I can pay for my parents' retirement and now, my bank account has $50 and 2 houses that Wells Fargo appraised at $200K two years ago and the bank has refused to work with us. Samir found us a "tenant" that eventually got evicted and we not only not able to sell the house in the signed lease option, but also lost $10K in rent income.
reguy30

Cape Coral, FL

#14 Jun 24, 2008
Cape Coral Investor,
Was there fraud involved in your purchases? Check who you bought the land from. Who the entities were who were the actual sellers. If it wasn't Samir or his company, he acted as a referral agent which is what he was to my knowledge with First Homes. You are mad because the market went south and you are left holding the property. Last I checked, Samir was not a property manager either. It seems as if there was very little due diligence performed on your end.

I'm not here saying what he did was right or wrong but again, you are referring to a spec home purchase that tons of investors did. He was indicted on something totally different. I am a realtor and sold a lot of property in 2004-2005 that aren't worth even close to that value anymore. Is that my fault to? Is it yours or the other investors? In this case only, we are victims of the economy. My point is that your deal is not proven to be fraud. Not trying to throw down with you here, but let's call a spade a spade. Samir F'd up bad with those properties on the indictment, that's all we know now.
SAZ608

New York, NY

#15 Jun 26, 2008
Cape Coral Investor wrote:
I am one of the investors who had dealt with Samir. He deserves everything that happened yesterday and may the justice system does the right thing. Not that he will pay us back our investment, but at least make him pay for what he has done to innocent investors. I got in for so I can pay for my parents' retirement and now, my bank account has $50 and 2 houses that Wells Fargo appraised at $200K two years ago and the bank has refused to work with us. Samir found us a "tenant" that eventually got evicted and we not only not able to sell the house in the signed lease option, but also lost $10K in rent income.


You are a financially uneducated person - purchasing a single family home is NOT an investment idiot! You're to blame for being ignorant - not the real estate agent who sold the house or houses to you.$50 dollars in your bank account sounds like YOUR problem - again NOT the real estate agent who sold the house(s) to you. As for the market value of the homes sold in these cases - they're not alone. ALL of the houses in SWF have gone down in their "market value", not just the houses you purchased! Again, this is not the fault of the agent who sold the homes. You should have educated yourself. Please note I am using words you may not understand, for example "market value", so please ask someone to interpret as you probably should have sought financial advise before you purchased houses out of your financial means because you thought they were an investment!
Sugar

United States

#16 Jun 26, 2008
reguy30 wrote:
Well for those of you that got "duped", let me ask you if you are talking about First Homes or in the properties listed in the indictment. You are somewhat victim of the media. How many times did you open your computer ever morning in 2005 and see that the SW Florida real estate market is BOOMING? When you saw that you wanted to know how to be part of it...So, however the case may be, somehow you were put in contact with Samir, who sold homes to investors.
Nearly every realtor in FL was doing that at the time. When speculators invest in property, it almost always happens that someone is left holding the bag. It was you and you have a right to be upset, but take some responsibility yourself. It's called Investor Spec Homes. Spec = Speculation. We all know what is happening down there right now...It sucks, but that's real estate for you. Now if you were part of the properties listed in the indictment, keep complaining, but your homes in Lehigh Acres which is pretty much their area, you should look yourself and wonder what were you thinking buying 3-4 homes with your given financial position at the time. Shame on Samir for his crimes and he will pay dearly for it. Probably after a plea will serve 5-8 years and lose everything. But shame on some for agreeing to be greedy themselves. I have been in SW FL before and have seen Lehigh. Never ever ever would I buy a house in that area. It looks terrible and is getting worse.
And no, I am not Samir's brother, aunt, uncle, cousin, wife, or whatever...just looking at both perspectives
Well he must have did something very wrong if the FBI was there.
reguy30

Cape Coral, FL

#17 Jun 26, 2008
Of course he did something wrong but all of you readers' are not thoroughly reading my post. Yes, he got indicted, but if you notice, not one of the victims that got "duped" are posting anything. It's called a gag order. Everyone that is writing on this forum or the newspaper is talking about him selling spec homes or investment homes.

they should all shut up unless they take their file to an attorney and see fraud. thousands of agents sold second homes and investment homes. You were stupid for not being curious as we saw 40% appreciation. The ones left holding the hot potato in the end are pissed at the realtor for "scamming" them.$50 in the bank after this is certainly not somewhere you should be after investing in a home. Seems like you were beyond your means and didn't consult a financial expert. Like I said, look in the mirror
DupedGuy

United States

#18 Jun 30, 2008
Regguy, I was part owner in one of the properties that he got indicted for. What do you want me to say? Let the justice system do the work. The funny thing is this wasnt a get rich quick scam. It was a regular commercial development project that maybe could have gone right but in the end too much money was fraudulently took by Samir. I don't wish anyone dead but I would love to see him spend a bunch of time in jail losing out on part of his life thinking about how he was an idiot. Besides, he is probably safer in jail.
reguy30

Cape Coral, FL

#19 Jul 2, 2008
DupedGuy,
You do have a point, and one of the only one's on hear as you are a victim of something that he got indicted for. My words were directed at everyone who is claiming they now only have $50 in their bank accounts thanks to Samir selling spec homes in Lehigh Acres. Your probably right...safer in jail, but I don't think the same guys that some say were after Frank are after Samir. I think its a little different. My opinion is that the Frank thing has a lot to do with the K.Hovnanian purchase of First Homes. That is very sketchy, ie. the disappearance..K.H is based out of central NJ, etc...never know who your messing with when it comes to union, developers, etc in NJ. The Sopranos is actually somewhat of a true story!
Native-83

Leesburg, FL

#20 Jul 6, 2008
reguy30 wrote:
Well for those of you that got "duped", let me ask you if you are talking about First Homes or in the properties listed in the indictment. You are somewhat victim of the media. How many times did you open your computer ever morning in 2005 and see that the SW Florida real estate market is BOOMING? When you saw that you wanted to know how to be part of it...So, however the case may be, somehow you were put in contact with Samir, who sold homes to investors.
Nearly every realtor in FL was doing that at the time. When speculators invest in property, it almost always happens that someone is left holding the bag. It was you and you have a right to be upset, but take some responsibility yourself. It's called Investor Spec Homes. Spec = Speculation. We all know what is happening down there right now...It sucks, but that's real estate for you. Now if you were part of the properties listed in the indictment, keep complaining, but your homes in Lehigh Acres which is pretty much their area, you should look yourself and wonder what were you thinking buying 3-4 homes with your given financial position at the time. Shame on Samir for his crimes and he will pay dearly for it. Probably after a plea will serve 5-8 years and lose everything. But shame on some for agreeing to be greedy themselves. I have been in SW FL before and have seen Lehigh. Never ever ever would I buy a house in that area. It looks terrible and is getting worse.
And no, I am not Samir's brother, aunt, uncle, cousin, wife, or whatever...just looking at both perspectives
I'm not in the business and believe me my business thrived on the "Big Watch Club" back in 04'05'06.......the guys with the nice cars, rolex, and perfect apparel. I wish most of them would have minded the rules when they signed up to do what they did. The buyers are guilty of greed just the same and if the market wouldn't have crashed I wouldn't be typing this quote..... 911 was my first hurdle in business but this is like the plaque taking down great people and there businesses one at a time and it sucks. I do know Samir and I hope his and Jessica's life gets better someday. We all make mistakes...but i have to agree with Doug Molloy. I have a family to care for and a business to run. Our market is a joke now and its sad. Do the crime do the time. Move on and learn from it!

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