Friday, June 1, 2007

Flip this House Fraud

Who's sorry now? Flip this House? Flip this dump, is more like it.

A&E and all the poor saps who believed this dude are waaaaay sorry now. Wait, what moron believes that these "repairs" were real, anyway? Yoo hoo - the housing bubble has burst!

Leccima, 36, presented himself as a successful real estate investor during the 2006 season of the cable show, which depicted him buying, refurbishing and reselling Atlanta-area homes for profits of $77,000 and more. But Leccima doesn't have a real estate license — it was revoked by the Georgia Real Estate Commission in 2005, with the panel ruling he "does not bear a good reputation for honesty, trustworthiness, integrity, and competence." Now he's under investigation by the Georgia Secretary of State's office for securities fraud.

Leccima said his lawyer advised him against talking about the investigation or the claims made by McGee and others. He did say that some of the criticism stems from his high profile.