KCRA 3 Investigates: Real Estate Agents Tied To Marijuana Houses

[BluntKilla]

KCRA 3 Investigates has learned the Internal Revenue Service is getting involved in the investigation into the string of indoor marijuana-growing operations in Elk Grove, Stockton and other Northern California cities.

IRS investigators will be assisting the Drug Enforcement Administration and following the money as agents look for the connection between real estate agents and drugs.

Federal investigators are looking at two real estate agents from the Bay Area.

Records show the agents were involved with the sale of many of the homes where large amounts of marijuana plants have been seized.

Through property records and licenses, KCRA 3 Investigates was able to tie Dickson Hung, an agent with Exit Realty in San Mateo, to at least eight of the houses raided in Stockton.

Records show Hung also owns several companies in San Francisco, including two international trading companies and a company called Dream Factory Inc. All three companies are registered to the same address.

In Elk Grove, where 19 homes were recently raided, KCRA 3 Investigates was able to tie Prudential Real Estate agent Kevin Parker to the sale of more than a dozen of the homes now under investigation.

According to his Web site, Parker was "Rookie of the Year" and one of Prudential's top sellers in 2004.

In a statement released to KCRA 3, Prudential Real Estate said it is now cooperating with federal investigators and is currently launching its own investigation to make sure procedures and guidelines were followed.

KCRA 3 Investigates has learned that Hung and Parker represented the buyers in the transactions.

No charges have been filed against any of the real estate agents involved.

KCRA 3 Investigates has also learned that there was no down payment involved with several of the transactions and many of the houses had 100 percent financing.

Newshawk: BluntKilla - 420 Magazine
Source: KCRA3
Pubdate: Fri Sep 22
Copyright: 2006 KCRA, TheKCRAChannel.com
Contact: contact
Website: KCRA.com - Sacramento’s Breaking News, Weather and Traffic Leader

[Cherma]

Paper Trails. This is an old scam invloving a Front Company and a Real Estate Agent. It also takes a full grow op setup and a Team of accomplished Horticulturalists to pulloff. Recalling several years ago a situation in a NW state that a Public Utility Spokesman and a band of cronies pulled this off for over 10 years. 20 Homes / zero down / 10 Lights per house / an inside person who has knowledge of any pending investigations of Electrical Usage, and a group of dedicated business people. Well one thing was not counted on.
The P.U.C. spokesman father was FBI...
This method of financing and operation is old do not attempt to use this any more.. Game On