Airbnb Scam Exposed: Real Estate Visionary Charged with Fraud

In a 2019 investigation, it was revealed that thousands of people fell victim to a double booking scam on Airbnb. The scam involved booking into Airbnbs that may not exist and then canceling on the customers at the last minute. As a result of the investigation, Airbnb implemented reforms and started verifying their listings. Recently, the alleged mastermind behind the scam, Shre Goel, was charged with wire fraud and aggravated identity theft. Court records indicate that Goel and his crew booked 10,000 reservations across the United States, netting $7 million. The scam took advantage of Airbnb's faulty refund system, where they convinced the company not to issue refunds to customers who had legitimate complaints. This case highlights the need for stricter regulations and safeguards in the short-term rental industry.