Daily Real Estate News | January 19, 2011
Man Faces Charges After Trying to Raffle Home
A Long Island, N.Y., man is accused of collecting more than $100,000 in raffle tickets he sold to raffle off a million-dollar house he once owned. But no raffle took place, ticket holders say, and authorities are accusing the man of pocketing the cash and using it for luxury vacations.
Scott Cicerone, who has plead not guilty to the charges, faces 21 counts of petit larceny and one count of scheme to defraud.
Prosecutors say Cicerone sold $50 raffle tickets to thousands of people for a waterfront property he owned in Massapequa, N.Y. The property, however, had fallen into foreclosure.
After several postponements for the raffle drawing, ticket holders say Cicerone stopped replying to them and the raffle never happened.
Source: “NY Man Accused in $100k House Raffle Scam,” Associated Press (Jan. 13, 2011)
I think this is crazy! What do you think?
- Ashley
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