FBI searches real estate, financial business

The FBI has searched offices of a real estate and financial services business in Brighton and Livonia.

The offices of Elias Realty were searched on Wednesday.

The FBI hasn't said what it was looking for.

Statement from Elias Realty

The Federal Bureau of Investigation conducted a search at Elias Realty locations in Brighton and Livonia on February 27, 2013. Elias Realty is currently reviewing the details of the investigation and plans to cooperate fully with federal investigators.

Elias Realty has been the market leader in short sales for 2011 and 2012. Recently, Elias Realty drew scrutiny from lenders and Freddie Mac because of its success and volume of short sale business. Will Elias and Elias Realty have been in discussions with Freddie Mac since October 2012 over complaints filed by Freddie Mac against Will Elias, Elias Realty and related companies. In November 2012, Freddie Mac wrongfully placed Will Elias on its exclusionary list, essentially halting his ability to run his business.

On January 31, 2013, after discussions between Elias and Freddie Mac broke down, Will Elias and Elias Realty filed a complaint against Freddie Mac for tortuous interference with contracts and business expectancies, unfair competition, business and personal defamation and civil conspiracy arising out of Freddie Mac's intentional and dangerous misuse of its exclusionary list to ruin Will Elias' personal reputation and put him out of business.

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