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True Crimes of Real Estate

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Episode 3: A Broker Ran a $5 Million Real Estate Ponzi Scheme

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In this episode of True Crimes of Real Estate, we break down a real fraud case involving a licensed broker, fake property deals, fake documents, fake escrow accounts, and millions of dollars gone. What looked like legitimate real estate investing was actually a years-long Ponzi-style scheme that ended in federal prison. We get into how the fraud worked, the red flags investors missed, how the money moved, and what brokers, agents, and consumers should be watching for before wiring funds.
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What We're All About

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True Crime: Real Estate Edition is a first-of-its-kind investigative podcast and video series that exposes the real stories behind how real estate professionals face license discipline—revealing fraud, unlawful conduct, ethical failures, and compliance breaches that shape the industry’s darkest moments. Breaking down real cases with expert insight, operational context, and lessons every agent, broker, and industry leader can learn from. Entertaining, informative, and eye‑opening, the series aims to elevate professional standards while captivating audiences with the high‑stakes drama of real estate gone wrong.

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Meet Your Hosts

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Side profile of Troy Palmquist in a black suit

Troy Palmquist

Real estate strategist and former broker-owner recognized for modern brokerage leadership, agent experience innovation, and proptech advisory work. Previously licensed in four states, he brings firsthand perspective from building and operating real estate businesses. A contributing author for Inman News and HousingWire, Troy delivers clear insight on the evolution of the industry and turns complex topics into compelling stories.
Summer Goralik in a red suit

Summer Goralik

Summer Goralik is a seasoned real estate compliance consultant whose expertise was shaped by her years as a California Department of Real Estate Investigator and an Economic Crimes Investigator for the Orange County District Attorney’s Office. Since 2016, she has been working with real estate brokers to help them understand the law, strengthen supervisory systems, prepare for audits, and navigate complex compliance challenges.

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