24 People in S.D. Indicted on Mortgage Fraud.

[Coronita]

[quote=CONCHO]Hahahaha that indictment is great. “Darnell Bell AKA D-Bell”, “Marcus Dozzell aka Kali”, and my personal favorite, “Ray Logan, aka Jack Nasty”.

Hold on a second honey, I’m talking to our mortgage broker JACK NASTY on the phone. He says he can get me a sweet cash-out refi deal.

Hang them by their thumbs. I hope that D-Bell and Jack Nasty get to share a cell with Bernie Madoff. They can take turns making him toss their salads.

Of course the sad part is that it’s only these dimwits that will do time. All of the smart ones that ran the same scams have absconded with the loot and are safely out of the reach of Johnny Law.[/quote]

As much as I want to laugh about this situation..I’m finding it completely disturbing when a bunch of gang members who probably have much less intellectual capabilities that most Pigg’s almost got away with easily making millions through fraud. Even more disturbing, there’s probably a bunch of J6Ps with slightly more intelligence that will get away with it….Then it hits me. Wow, being a straight shooter and financially responsible didn’t really pay off, did it? Now if we had here in the U.S. justice system execute people for corruption/racketeering, that would be interesting….But I should also mention that when these 24 folks get sent of to SingSing, we the taxpayers will be paying for their food, shelter, and medical care…..You can bet any money they stole (if it still exists) will be going to defense attorneys. The joke is on us.

[aldante]

Concho-
You are exactly right.

Check it out:

http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS

[aldante]

Concho-
You are exactly right.

Check it out:

http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS

[aldante]

Concho-
You are exactly right.

Check it out:

http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS

[aldante]

Concho-
You are exactly right.

Check it out:

http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS

[aldante]

Concho-
You are exactly right.

Check it out:

http://finance.yahoo.com/tech-ticker/article/225823/Mortgage-Fraud-Epidemic-How-the-FBI-Blew-It-and-Why-There’s-No-‘Perp-Walks’?tickers=JPM,BAC,XLF,MHP,MCO,WB,FAS

[patientrenter]

[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]

I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.

[patientrenter]

[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]

I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.

[patientrenter]

[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]

I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.

[patientrenter]

[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]

I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.

[patientrenter]

[quote=aldante]I think that the FBI is probably hoping that with such a big bust they can relax their investigation. [/quote]

I agree. There were hundreds of thousands of people, maybe millions, signing fraudulent loan applications during the bubble. There is no intention of going after these people. Instead, the idea is to make a public show of prosecuting a handful of the worst, and then move on.

[blahblahblah]

If I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…

[blahblahblah]

If I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…

[blahblahblah]

If I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…

[blahblahblah]

If I recall correctly there was a similar scam in Temecula run by some Ukranians. They used straw buyers and took out tons of HELOC money — got away with millions and I don’t think they were caught; they only ran it for a short time but it involved a lot of houses. They are probably whooping it up on the Costa del Sol right about now. They’ve probably bought nice apartments in Barcelona and St. Moritz for themselves…

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