Rio Rancho Estates Sales brochure 1960s-1970s NM land fraud

Description

Rio Rancho Estates
Sales Brochure
Folded size: 3¾" x 8½"
Unfolded size: 8½" x 11"
1960s-1970s New Mexico Land Fraud
This brochure from the late 1960s-early 1970s offered a free tour of Albuquerque and a free dinner. The reservation certificate is still attached.
Rio Rancho Estates was/is an unincorporated planned community developed by AMREP (American Realty and Petroleum Corporation) who, in 1961, began selling quarter-acre and half-acre lots by mail to residents. Potential property buyers were flooded with promotional literature and images of sprawling green landscapes and were taken to dinners as part of a marketing plan to sell the land.
In 1975, AMREP was sued by the Federal Trade Commission and in 1977 they were found guilty of fraud by mail. One newspaper headline claimed "Rio Rancho Estates Termed 'Biggest Land Swindle'". In 1993, the FTC brought a civil suit against AMREP with the same charges. There was a settlement of 0,000 given to the 22,000 defrauded land buyers.
Condition:
Excellent condition.
Light edge wear. (see photos)