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TheBreeze.
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June 20, 2007 at 3:43 PM #60818June 20, 2007 at 3:43 PM #60853
recordsclerk
ParticipantConned by Crooks,
Thank you for the information. I don’t think anyone truly knows what happened.
On the two properties sold, were the loans paid off?
What did you loose on the first two properties?June 20, 2007 at 5:26 PM #60852Nancy_s soothsayer
ParticipantCbC,
I see a point where the crooks did really clean up big time. They robbed you and the naive lenders with all your eyes wide open in the harsh glare of lights in open daylight – a prime example of white collar crime.Do you think they stashed those ill-gotten gains overseas where they can all retire drinking champagne, savoring wine and smelling roses? Some white collar crimes hardly get punished compared to very poor homeless guys robbing 7-11’s or AM/PM’s.
June 20, 2007 at 5:26 PM #60887ParticipantCbC,
I see a point where the crooks did really clean up big time. They robbed you and the naive lenders with all your eyes wide open in the harsh glare of lights in open daylight – a prime example of white collar crime.Do you think they stashed those ill-gotten gains overseas where they can all retire drinking champagne, savoring wine and smelling roses? Some white collar crimes hardly get punished compared to very poor homeless guys robbing 7-11’s or AM/PM’s.
June 20, 2007 at 5:32 PM #60854Anonymous
GuestYes they were paid off, Thank God.
They got about $65k from the forged wire transfer and I think they made almost $100k from the forged grant deed. We had only ‘owned’ these properties for 3-4 months.
These properties were sold to other ‘clients’ who were only given one month’s payment and left to go into default. The ‘new’ program they were supposed to give you 6-9 months worth of payments and you could ‘choose’ whether to keep or sell. No one got any payments after the first and I hear that some never even got any money. The lady who ended up w/ the forged grant deed property never saw a dime.
We were ‘supposed’ to buy 2 more properties under this deal but got wind of the fraud prior and promptly severed ties.
We will lose the equity that they took from our primary $200k plus more in other investments described on the website.
Yes, it is embarrassing and shaming. A woman I trusted like a mother did this to me and her own daughter and promptly split to another state.
Maybe you folks are right, I had No business investing in anything.June 20, 2007 at 5:32 PM #60889GuestYes they were paid off, Thank God.
They got about $65k from the forged wire transfer and I think they made almost $100k from the forged grant deed. We had only ‘owned’ these properties for 3-4 months.
These properties were sold to other ‘clients’ who were only given one month’s payment and left to go into default. The ‘new’ program they were supposed to give you 6-9 months worth of payments and you could ‘choose’ whether to keep or sell. No one got any payments after the first and I hear that some never even got any money. The lady who ended up w/ the forged grant deed property never saw a dime.
We were ‘supposed’ to buy 2 more properties under this deal but got wind of the fraud prior and promptly severed ties.
We will lose the equity that they took from our primary $200k plus more in other investments described on the website.
Yes, it is embarrassing and shaming. A woman I trusted like a mother did this to me and her own daughter and promptly split to another state.
Maybe you folks are right, I had No business investing in anything.June 20, 2007 at 5:39 PM #60856GuestSome of it for sure is overseas and out of the country.
James Duncan was making plans to relocate his family to Malta.
We just hope Law Enforcement gets in there to seize before it slips thru everyone’s fingers.
There were a lot of dirty insiders.
There was one who worked for a large lender, approved the loans, and she is living in the proceeds of her payoff.
They are still doing this fraud out of San Diego, Temecula, and Murrieta.
Industry professionals confronted Riv DA and DRE with suspicious activity reports 2 years ago. They obviously failed to act at that time.June 20, 2007 at 5:39 PM #60891GuestSome of it for sure is overseas and out of the country.
James Duncan was making plans to relocate his family to Malta.
We just hope Law Enforcement gets in there to seize before it slips thru everyone’s fingers.
There were a lot of dirty insiders.
There was one who worked for a large lender, approved the loans, and she is living in the proceeds of her payoff.
They are still doing this fraud out of San Diego, Temecula, and Murrieta.
Industry professionals confronted Riv DA and DRE with suspicious activity reports 2 years ago. They obviously failed to act at that time.June 20, 2007 at 5:45 PM #60858GuestWhy rob a bank when you can commit mortgage fraud?
The guy who robs 7-11 gets a much harsher sentence.
However, there are 2 guys from the MX Factor Fraud (Riverside, CA) that are serving Federal time. The ringleader is still at large, living nicely in Mexico.
Proceeds from mortgage fraud has funneled its way into terrorist organizations according to some reports. Scary,
June 20, 2007 at 5:45 PM #60893GuestWhy rob a bank when you can commit mortgage fraud?
The guy who robs 7-11 gets a much harsher sentence.
However, there are 2 guys from the MX Factor Fraud (Riverside, CA) that are serving Federal time. The ringleader is still at large, living nicely in Mexico.
Proceeds from mortgage fraud has funneled its way into terrorist organizations according to some reports. Scary,
June 21, 2007 at 10:33 AM #60997ParticipantConned by Crooks
I think most us thought that you guys just made bad investments that just went sour. From the news reports I’ve read, the way I understood it was that you guys bought houses and offered more then the asking price, so the buyer would refund you that amount so you can make the monthly payments. Once the money ran out, you were left with a depreciating investment that is worth less then what you owe. What I didn’t know was the underhanded things they did to you. Selling your property without your knowledge. Forging documents, keeping proceeds from sales. This sheds new light to my perspective. These guys from what your saying, stole your hard earned money. Sorry to hear that these things happened to you. Thank you for sharing with us.
June 21, 2007 at 10:33 AM #61034ParticipantConned by Crooks
I think most us thought that you guys just made bad investments that just went sour. From the news reports I’ve read, the way I understood it was that you guys bought houses and offered more then the asking price, so the buyer would refund you that amount so you can make the monthly payments. Once the money ran out, you were left with a depreciating investment that is worth less then what you owe. What I didn’t know was the underhanded things they did to you. Selling your property without your knowledge. Forging documents, keeping proceeds from sales. This sheds new light to my perspective. These guys from what your saying, stole your hard earned money. Sorry to hear that these things happened to you. Thank you for sharing with us.
June 21, 2007 at 11:19 AM #61019PerryChase
ParticipantThe investors were complicit. Granted they didn’t know everything but they told the investment leaders to proceed. For example, they knew they couldn’t buy all those houses on their incomes but the leader told them that he could get them loans. How did he get they mortgages? By forging documents and inflating the borrowers incomes. Once the loans were approved the borrowers signed the loan docs.
If the con-man sold the houses without the investors’ knowledge and forged signatures, then there’s nothing to worry about. The courts will return the houses to the rightful owner.
Sure, loan qualification documents were forged. The question is who signed the mortgage notes and the grant deeds?
June 21, 2007 at 11:19 AM #61056ParticipantThe investors were complicit. Granted they didn’t know everything but they told the investment leaders to proceed. For example, they knew they couldn’t buy all those houses on their incomes but the leader told them that he could get them loans. How did he get they mortgages? By forging documents and inflating the borrowers incomes. Once the loans were approved the borrowers signed the loan docs.
If the con-man sold the houses without the investors’ knowledge and forged signatures, then there’s nothing to worry about. The courts will return the houses to the rightful owner.
Sure, loan qualification documents were forged. The question is who signed the mortgage notes and the grant deeds?
June 21, 2007 at 4:09 PM #61153no_such_reality
ParticipantThe ‘new’ program they were supposed to give you 6-9 months worth of payments and you could ‘choose’ whether to keep or sell
Did any body bother to ask where the money for the 6-9 months of payments was suppose to come from?
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