FBI inquiry involves area home sales
The FBI is investigating a convicted Florida cocaine dealer whose alleged mortgage frauds may involve homes throughout the Montgomery area and may leave investors with more than $1 million in potential losses.
Federal agents received court permission earlier this year to search the offices of a real estate appraisal firm and a real estate brokerage in Montgomery for records of home sales involving Orlando businessman Robert B. Guest Jr.
Acting through several companies, Guest is suspected of buying 100 homes, mostly in Montgomery, obtaining misleading appraisals and then reselling the rental properties within six months at two or three times the price he paid, according to a sworn statement by FBI agent Christopher P. LaCarter.
Efforts to contact Guest were unsuccessful.