I agree that there can be instances where things are not as they appear and I agree that news reports can run with mistaken or misleading accounts and cause frenzy and panic. 

The difference is that the news reports in this case are based on quite a bit sturdier evidence than eyewitness accounts of a suspicious-looking man fiddling around with a phone in a park.  Consider:

Acording to the report, the reporter reviewed property records-- finding 12 deeds filed by this man.  He viewed the documents, describing them as "notarized, carry[ing] the official stamp of the recorder's office and appear[ing] legitimate"  He then interviewed five of the property owners for some of those properties, and they all claimed that they never deeded interest to this guy-- and, according to the report, the property records confirm this.

Then, in addition, he looked into the guy's history.  According to the reporter, this guy has filed for bankruptcy five times since 1998, has a previous judgment on him in a civil fraud case involving a different real estate scheme, and has $300,000 in state and federal tax liens on his home. 

This does not have the appearance of shoddy, fluff news reporting.  This reporter appears to have put some research into this guy's scheme and his background.

So I don't agree that this situation bears much similarity to your man in the park with the phone.  I don't ask you to come to the same conclusions that I have and if you want to withhold judgment until further information comes in, I can respect that.