http://www.richmondbizsense.com/2009/01/22/was-landamerica%e2%80%99s-1031-business-a-ponzi-scheme/ Richmond's Homepage For Business News Fri, 10 Feb 2012 02:28:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.richmondbizsense.com/2009/01/22/was-landamerica%e2%80%99s-1031-business-a-ponzi-scheme/comment-page-1/#comment-9301 Innsbrook-Based LandAmerica Creditors Miffed By New Fed Hire | Downtown Short Pump Wed, 29 Jul 2009 15:01:58 +0000 http://www.richmondbizsense.com/?p=3772#comment-9301 [...] Several of LandAmerica 1031 Exchange’s former customers are owed hundreds of thousands each for money they thought was held in trust and intended for future property transactions. Instead, they say, their money went to pay previous exchange clients, whose money was invested in auction rate securities that lost their value when the auction market collapsed. (You can read about that in a previous RBS story here) [...] [...] Several of LandAmerica 1031 Exchange’s former customers are owed hundreds of thousands each for money they thought was held in trust and intended for future property transactions. Instead, they say, their money went to pay previous exchange clients, whose money was invested in auction rate securities that lost their value when the auction market collapsed. (You can read about that in a previous RBS story here) [...]

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