DETROIT (WXYZ) - A 32 -year -old Redford real estate agent is facing several charges of running a criminal enterprise, embezzlement and fraud for allege d fraudulent transactions with federal housing agencies Freddie Mac and Fannie Mae.
Samer Salami is accused of listing the homes for sale without saying they were government-owned.
He then set up his own shell company, Trademark Assets, to convince the government to sell him the property after he had a legitimate buyer paying a higher price.
It is alleged he collected a commission on both sales and the difference in the price, close to $500,000.
The case is being handled by the Wayne County Prosecutor and the feds. They've documented 22 cases in western Wayne County from 2008 to 2010, all were residential homes.
In court, Assistant Prosecutor Mariam Bazzi said they have another 185 potential cases that could add up to another $4 million in fraud.
When they raided Salami's house in Canton yesterday, they found records that he had access to $31 million and connections outside of the U.S.
17th District Court Judge Karen Kahlil entered a not guilty plea on Salami's behalf and set bond at $3 million 10%. Salami was also ordered to surrender his passport. He is not allowed to travel outside of Michigan without court permission and he can't do any real estate business.
For now, Salami faces a total of 12 counts and 20 years in prison if convicted.