|Police arrested Roger Dungan Buack of Hayward last Wednesday in a real estate scam akin to a junk email loan requests.
Buack, who turned 63 today, allegedly posed as a potential homebuyer to Pleasanton real estate broker Dave Cunningham. According to police, the two had been working together for about two months before Buack made a proposition to Cunningham. Buack reportedly said he was owed a large sum of money from the United Kingdom, but needed $10,000 to pay the company and get clearance from the Department of Homeland Security. He then allegedly told Cunningham that the loan would be returned two-fold along with additional real estate transactions.
Sensing something fishy, Cunningham went to the police and began working with a detective. He then went along with the transaction and met with Buack at his office last Wednesday while police remained out of sight.
The transaction was completed and Buack gave Cunningham a fake promissory note and a lien on a property which he apparently didn't own. Upon exiting the office, police arrested Buack for burglary, three counts of making false financial statements and one count of using a fictitious business address.
Police said during the investigation, they discovered other real estate agents and other potential investors fell victim to similar scams by Buack. They said the investigation is ongoing. For anyone with information concerning victims of similar scams involving Buack, they are encouraged to call Det. Mark Reimer at 931-5100.
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