I purchase a piece of land for $50,000. I then pretend to se…
I purchase a piece of land for $50,000. I then pretend to sell it to you for $150,000. You pretend to sell it to my wife for $350,000. She puts it up for sale for $600,000 and you go to get a 100% loan for the $600,000, using the land itself as collatoral. The three of us then split that money. This is an example of a real-estate loan scam known as ______.