Archive for the ‘Investment Fraud’ Tag
Mary Gonsalves Pre and Post Foreclosure Experiences
I am a small business owner for the past 23 years but due to multiple hospitalizations and a decline in business due to the global recession, I applied for a loan modification proactively in March of 2009 with my mortgage processor of the time, IndyMac.
After months of making calls and being “strung along” with claims that this form or document was missing (despite multiple submissions of the alleged missing documents) and being repeatedly told that I should NOT default on the loan, I finally got a rejection letter for the loan modification because I did not qualify due to the fact that my loan was NOT in default!
That process actually resulted in me accumulating vast quantities of credit card debt since I did all I could to prevent a mortgage default since I was told to avoid that act, however, that very avoidance actually led to my loan modification denial. I then filed a lawsuit in pro per against IndyMac, which by that point had become OneWest bank.
On the date of my court hearing, judge Manuel Real dismissed my lawsuit within 20 minutes in favor of the defending banks without letting a representative that was present speak on my behalf. He also dismissed 3 other mortgage related cases within the same 20 minutes all in favor of the banks including Wells Fargo and Fidelity.
In September of 2009, I finally stopped paying the mortgage. The bank then started foreclosure proceedings. I was terrified of being thrown out of my house especially since I have my 85 year old mother and widowed sister living with me. My mother is a survivor of 3 open heart bypass surgeries.
The trustee sale for the house was fast approaching and so I spoke with an attorney who was a business client of mine named Denise Fitzpatrick. I wanted her to be my representative to negotiate with the bank to work out a proposal to pay the mortgage at the then assessed property value but this negotiation did not take place. Instead she convinced me to file a Chapter 11 bankruptcy (something that I never wanted as my credit at that point was excellent and I was not in default with any creditor except for the mortgage company – which only happened after months of trying to work out a modification or refinance). I met with the trustee for the bankruptcy and then the judge. They told me that I could change my bankruptcy to a Chapter 7, a Chapter 13, or request a dismissal. I asked for a dismissal and the judge ordered Ms. Fitzpatrick to return all my fees (a disgorgement) by August 30th of 2010. Almost a year later I am still awaiting a return of my fees. I have received all of the negative impact from that bankruptcy filing without receiving any of the benefits which has made my life in more difficult.
Last August I sought the legal assistance of yet another attorney to fight what I believe is an illegal foreclosure. After months of paying this new attorney, Michael Pines, I found out that he was disbarred during my most recent surgery and hospitalization allowing the bank to speed up the process of the unlawful detainer that I was served. I have contacted Congressman Waxman, Representative Mike Feuer, Attorney General Kamala Harris, The California Bar Association, and the Los Angeles City Attorney’s Office (who themselves have a lawsuit against Deutsche Bank, the trustee for IndyMac/OneWest Bank regarding my mortgage and property, for being slum lords).
I asked myself “Why is a German Bank permitted to take away our American Dreams? – the home that I had worked so hard to acquire. We are victims of the faulty banking system. Who is listening? Who is trying to help us? Why were the banks bailed out so quickly and we the people, the citizens of this great country, still suffering and our homes being taken away daily? Since I am self-employed it was not easy for me to qualify for my mortgage. I had to jump through hoops and provide lots of paperwork include bank statements, tax returns, profit and loss statements and I had been an owner of my business for over 17 years at the time I applied for my mortgage. I am not happy that consumers are being blamed for getting homes that we could not afford when it was the reckless and unscrupulous actions of the banks which led to the global recession that devastated the economy and resulted in me now not being able to afford my home
Millions of families have lost their homes to illegal foreclosures by the Banks. Now more than ever we are discovering the tactics that the Banks are using in their quest to take as many houses as they can from the people.
Everybody know that filing a “fraudulent document in Court is a crime”, however, the Banks have managed to move in the Court System without a challenge and have for years submitted, filed and used “fraudulent documents” to steal homes from hard-working families. They have constructed ways to manipulate, distort and abuse the system. For years they have been so successful and have had so little challenge from anyone in accomplishing their evil ways. Expensive Law Firms,lobbyist, sold out Judges, Politicians, un-interested Media, fearful employees and unsuspected victims, completes the package.
The Law Firms Using the best money can buy, Banksters have hired Law Firms to carry out the “Fraud of the Century”. They have unlimited attorneys on pay roll to make every move and decision at the blink of a moment. Having this resources is what makes any case almost impossible to fight. They are ready to take any case to the limit. Whatever it takes, exhaust a limited Homeowner financial resources or to drain out any opposing Attorney. They can finance any case from here to eternity. Sometimes expending more on one case than the house is worth. One reason is that if they lose any case it may open the door for others to follow, they don’t take chances.
The lobbyist One of the biggest weapons the Banksters use to swing the System their way is by paying Billions of dollars to “Lobby” Congress. They have successfully change Laws, Rules and Regulations.
The Judges and Politicians It is amazing on how for years Judges have turn a blind eye to the Law. Cases after cases have come before them, where they simple refused to see the Law or the facts. Fraudulent, manipulated, missing, incomplete and without signatures documents are few of the very important part of cases they have ignore to take into account. I’m not an attorney, but I know that I can not file a fraudulent document in Court, why? It is against the Law and it is a Crime. What will happen to me if I go to a traffic Court and the Judge ask me to give him proof of License and I present him with a forge License? Meantime, elected Officials refuse to represent the constituents interests and side with the Banksters. They sidetrack the issue and lay low hoping not to have to take a stand with those very people who finance their campaigns. If they have to choose between you, me or a Bank, who do you think they will pick? Who can help them get elected?
The Media The Media has had its fault in this. They have refused to cover facts as they are. It’s amazing how little they have covered on the Crimes that the Banks have committed. I often wonder why? Well, the only reason I see is when I ask, who pays their bills? Who buys air time? certainly not the homeowner. It’s amazing how they spend more time covering “Charlie Sheen”, than millions of “victimized homeowners”.
The Employees Many employees play a big part on this picture. Few of them have spoken out against the crimes that the Banks are committing against the people. Call them “whistle blowers”. Fear of loosing their jobs, reprisals or worse are their fears. Many know the way the Banksters are operating, but few have gone public. Wikileaks have show some of the crimes that are committed. Maybe that’s what is needed to expose the crimes. People are even fearful to mention “Wikileaks” for fear of investigations. Don’t have answers for that.
The Victims They come from every corner of the Nation. Republicans, democrats, independents, young, old, rich, poor, middle class, black, white, hispanic, oriental, military, police, postal workers, clerks, farmers, iron workers…etc. We all have been hurt by the “Crimes of the Banksters”
We continue to ask, when will prosecutors put an end to the “crimes”? When will the Judges obey the Law and enforce it? When will Attorneys who file “fraudulent documents” be brought to Justice?
Weak penalties for massive crimes
We now are learning that the 50 State Attorney’s General may settle with the Banksters for $5 Billion.
CONSEQUENCES OF THEIR CRIMES
Crime of the Century estimated in the Trillions, some go as high as $45 Trillion.
Unemployment or underemployment in the Millions.
The economy in ruins.
Millions of families torn apart.
States and Cities budgets broken.
Still no prosecutions! The Nation stills waits for prosecutions against the “Crime of the Century”. White-washing the corruption and crimes will not fix it. This is not like any other crime. Unless this is properly fix, the problem will not go away. In fact, it may get worse.
“It is not acceptable for a party who believes they submitted false court documents to merely replace those documents”. Attorney General Richard Cordray
Related links:
http://www.tennessean.com/article/20110515/OPINION01/110515002/Don-t-help-banks-on-foreclosures
http://blogs.wsj.com/developments/2011/05/12/fdics-bair-millions-of-foreclosures-could-be-infected/
http://articles.baltimoresun.com/2011-05-09/business/bs-bz-foreclosure-documentation-heari20110509_1_problematic-foreclosure-paperwork-foreclosure-attorneys-affidavits
I want to start by sharing with you a little about myself. I am a father of four, U.S. Veteran and a Postal worker. I love America and for what she stands for. I am not a college educated person, so please excuse my faulty writing and grammar. I am a victim of Real Estate Fraud. My family American Dream was stolen from us. I am not only hurt by what has happen to my family, but also to the millions of families across the Country. After years of pain and suffering by greedy and criminals I decided that I needed to do something positive with all my experiences. Not too long ago, I did not know anything about Twitter, Blogging, Facebook, the Internet or even emails. My frustration and disappointment with the System forced me to learn and get involved with Alternative Media. I have reported the crimes with FBI, SEC, CA. Attorney General, DA, HUD, Dept. of Real Estate, Sheriff Dept. State Bar, Multiple Media Outlets all without results. Millions of victimized Americans don’t know who else to go for help. Agency after agency gives you the round around and time keeps running out for many of us. I remember the first time I reported the crime with Law enforcement, I was told that I had a good case but that they did not have the resources to pursue it. Wow, $300,000 equity stolen and no investigations or prosecutions.
So, after years of darkness caused by Financial Criminals I decided that I need to turn my Foreclosure Nightmare into a positive. So here I am, sharing my personal experiences, supporting and encouraging victims of wrongful foreclosures. Again, I am just an average person who works for a living. In 1994 I bought a house and moved in with my wife and four kids into what we thought was a home for the rest of our lives. In 2004 my family and I became victims of Real Estate fraud. For the last 6+ years it has been a total hell and a living “foreclosure purgatory”. After winning a Civil Case at the Los Angeles Superior Court in 2007, I thought that my nightmare was over, but actually it just begun. Bigger Financial Criminals (Countrywide, Bank Of America, Deutsche Bank, Morgan Stanley and their well-financed Attorneys) came into the picture, with them came a uncertainty and never-ending nightmare. Today, just like millions of American Families, I am just another homeowner that fights, hope and wait to come out of “Foreclosure Purgatory”. As a victim of Real Estate fraud, I can really understand the pain, suffering, fear and uncertainty that homeowners face every single day. I have personally fought the financial criminals since 2004 and my heart goes out to all the families that are facing illegal foreclosures and abuses by the Banks. Countless families stand at the gates of “foreclosure purgatory” not knowing what will happen to them. This is not a short crisis, in fact, this is like one of those nightmares that you want to end and hope to wake up from. Unless you are a victim, you will have trouble really understanding how one feels. I have talked with homeowners and families who share the dark road of foreclosure, you will not believe some of the horrors that they have to deal with. It is frustrating and hard to know how and when your help will come. For now, I must remind myself and others to continue to “fight the good fight” and not give up on hope. Like most working Americans, I did not think that something like this could ever happen to me. So to all those that continue to blame Homeowners for the mess that the Banks created, I remind you, Victims of crimes are just that, VICTIMS!
They have won a battle, not the war.
There has been an attempt by the Banksters media outlets to continue to manipulate and distort the facts on the ongoing Foreclosure Crisis. Homeowners continue to fight their banks without results. In the meantime, many have fallen further behind in their mortgage payments and once again the homeowners are sinking deeper in debt. In some cases, homeowners are told to stop making payments only to find out months later that they no longer qualify and a demand for full payments are made with added penalties. So the story continues, families are forced into a “foreclosure purgatory”, keeping them in limbo indefinitely. Again, this is not necessary a blessing. Yes, they may save money today, but unless they get a mod locked, in that guarantees them a sustainable tomorrow, they may just be postponing their pain. All the power remains in the hands of the lenders, and you don’t know from one day to the next what will happen to your situation. Believe me, this is a path to madness, sickness, suicide, divorce, alcohol abuse, mental illness, etc.
Purgatory
The Obama Administration’s attempt to bribe banks to modify inflated mortgages has been failure, with banksters only agreeing to tinker with the mortgages of a fraction of desperate homeowners who have sought help. Accumulating horror stories about homeowners who clearly qualify, but are sentenced by their banks to” paperwork purgatory”, with always another demand for a form they don’t have. In the meantime, some lenders are lowering the boom and taking the keys from borrowers who had thought they were awaiting approval for modifications.
We hear of Attorneys Generals upcoming Settlements with those that committed the Biggest Fraud in U.S. History, around $45 Trillion worth. The punishment to them may be around $20 Billion. So homeowners remain in the darkness of purgatory, not knowing when the nightmare will end. As for the Banks, no need to say much. They hold their own future. Will there ever be any prosecutions for those who created this mess? Well, that remains to be seen. So far, one of the biggest financial criminals, Countrywide’s top Exec., Mozilo, received a slap in the hand for all his wrongdoings. If there be a Bank & Homeowner settlement , the Banksters stand to benefit 100% more from a such Fraudulent Settlement.
Purgatory Part II
Real Estate fraud nightmare part two is here, millions of “Clouded Titles”. Forged documents, missing signatures, missing records, liens are just some of the unresolved claims that places millions of homes in the darkness and “Clouded Title Purgatory”. Who really owns the homes? Banks have claimed that many documents are lost, missing or misplaced when they flipped, securitized the Loans. Some as many as 30 times. If you are a buying or selling, your best bet is to hire an expert Real Estate Attorney that can research the history and all the legal documents of the property before you buy or sell. Today, Banks continue to fraudulent auction and sell properties that they have no legal right to. So let’s get ready for Purgatory part 2, “Clouded Titles”, it is ugly and it will push countless new victims into the darkness of Purgatory.
Homeowner resources:
http://no2housingcrime.blogspot.com
The truth is out. The American People now know how “Deep the Corruption” is among Biggest Financial Institutions. At present, there are several investigations by multiple agencies on Corruption and Illegal Activities by these Institutions. The Court System has in fact, taking full knowledge of how real and truthful the accusations are against the Banks.
Illegal, forged, manipulated, documents and missing paperwork, are but a few of the new allegations and evidence coming forward to support what may be in storage for the Criminal Activities of these Institutions.
Racketeering is the act of operating an illegal business or scheme in order to make a profit, perpetrated by a structured group. It is a broad group of criminal acts that includes bribery. We know that racketeering is closely associated with organized crime, since both are conducted by groups.
Racketeering encompasses many criminal acts. It includes theft and fraud against businesses or people. Governments can be victimized by racketeering; examples include counterfeiting money and trading in untaxed alcohol. Racketeering can also take the form of providing illegal services, such as prostitution or drug trafficking. Racketeering also takes place among legitimate businesses or labor unions, where it is sometimes called white-collar crime. Examples include extortion and money laundering.
Racketeering activity under federal law includes a number of criminal offenses, including: Bribery; sports bribery; counterfeiting; felony theft from interstate shipment; Embezzlement from Pension and Welfare funds; extortionate credit transactions; Fraud relating to identification documents; fraud relating to use devices; transmission of gambling information; Mail Fraud; wire fraud; financial institution fraud; citizenship or naturalization fraud; obscene matter; Obstruction of Justice; obstruction of criminal investigation; obstruction of state or local law enforcement; witness tampering; retaliation against witness; interference with commerce, bribery, or extortion; interstate transportation in aid of racketeering; interstate transportation of wagering paraphernalia; unlawful welfare fund payments; prohibition of illegal gambling business; Money Laundering; monetary transactions in property derived from unlawful activities; murder for hire; sexual exploitation of children; interstate transportation of stolen motor vehicles; interstate transportation of stolen property; sale of stolen goods; trafficking in motor vehicles and parts; trafficking in contraband cigarettes; white slave traffic; restrictions of payments and loans to labor organizations; embezzlement from union funds; Bankruptcy fraud; fraud in the sale of Securities; felonious manufacture, importation, receiving, concealment, buying, selling, or otherwise dealing in narcotic or other dangerous drugs; and any act that is indictable under the Currency and Foreign Transactions Reporting Act.
RICO outlaws every manner in which an enterprise can be used for long-term racketeering activity. Under the law, no person may invest racketeering proceeds to acquire any interest in an enterprise; no person may acquire or maintain an interest in an enterprise through a pattern of racketeering activity; and no person associated with or employed by an enterprise may conduct that enterprise’s affairs through a pattern of racketeering activity.
The punishment for violating the criminal provisions of RICO is exceptionally severe. If convicted, a defendant is fined and sentenced to not more than 20 years in prison for each RICO violation. Furthermore, the defendant must forfeit any interest, claim against, or property or contractual right over the criminal enterprise, as well as any property that makes up the racketeering activity or that was derived from the racketeering activity. Finally, RICO contains civil provisions that allow a party who has been injured by a RICO defendant to recover from the defendant in civil court. A successful civil RICO plaintiff may collect treble damages, or three times the amount lost to the defendant, as well as attorney’s fees and other costs associated with the litigation. The intent of the many and various sanctions is to cripple, and ultimately eradicate, organized crime enterprises.
I believe lenders have the right to be repaid only when there was no fraud in the origination of the loan, no fraud or mistakes in the servicing of the loan, the lender followed all the underwriters rules, or the lender took no taxpayer-funded bail-out money.
When Institutions and Individuals think that they are “Above the Law”, it is only the unreal and out of touch mental thinking, that has brought them to this point. The American People are no longer taking everything that Financial Institutions, Gov. Agencies and other say. We are smarter than this. We demand that the “root of Evil” be taken out and cut off from U.S. The Crimes have taken its told. The People are fed up and we demand changes. A Crime is a Crime. It does not matter who commits it.
Sixty Two Million Americans did not wake up yesterday and decided to commit Fraud. That is what the Banks and Financial Institutions wants you to believe. THEY HAVE ORCHESTRATED THIS REAL ESTATE MARKET AND ITS PRESENT CONDITION, HAVING FULL KNOWLEDGE THAT IT WAS GOING TO FAIL.
Follow the Money. Any good investigator or detective will tell you, if you want to resolve a Crime, FOLLOW THE MONEY. We need to ask, Who are the only ones who has benefited from this mess? Who are the ones who have taken Money from the Government (Tax Payers)by using improper, false and Fraudulent Documents? Who are the one’s taking Properties without Legal Documentation from Rightful Owners? Who is Auctioning Properties they don’t Rightfully own for the purpose of Sale? Who are the one’s who set up Insurance on Mortgages that they structured to Fail?
Looking back at this past few months, we are now seen the bigger picture on how bad this whole Real Estate Fiasco has turned out to be. The size of the problem is beyond our imagination. Top Economists have difficulties putting together the big picture because of the proportions and complexities that are involved. One picture is very clear, we now understand why the Big Banks have tried so hard to hide and manipulate the issue. Perhaps, we as a Nation will never really know the entire truth.
Yes, today we have many more questions than answers. There are more issues that have come out to light than ever known. More Crimes committed than ever imagined. And more Players involved than ever anticipated.
I have known from personal experience, that the Banks have had their hands dirty. Not too long ago, I thought that it would take a miracle for the corruption to be exposed. Well, to my doubt and disbelief, the TRUTH IS OUT.
YEARS OF FIGHTING AND PAIN
I have fought this Banksters for years. We know that the Banks have unlimited resources at their disposal to they have the ability to manipulate and distort the Truth. Forged Documents, Corrupted Law Firms, Sold out Politicians and Judges are only but a few to mention.
The Mortgage Crisis is an ongoing problem. The severe damage caused to the Economy, has untold consequences. It was a years of making and now there are no immediate cures for this gigantic problem. Defaults and Foreclosures levels increased dramatically. Home prices have fallen at levels not anticipated. Borrowers are having a hard time obtaining loans. Buyers are scared to buy. Past Foreclosures may be legally in question. Also, lets not forget that Mortgages have Foreign Investors and money attached to them. Millions have lost jobs. Cities are at the brink of bankruptcies, investors ripped off by the fraud, Families emotionally and financially broken. Children are traumatized. Marriages destroyed. Hospitals have recorded increased of People becoming sick due to the high levels of stress. It’s a complete mess. People all around are nervous and very upset. The total losses may be in the Trillions. Around 62 Million Real Estate transactions may be in question. Stability in the Financial sector is a concern. The Government is trying to do as best as they can, so they tell us. According to Financial experts, the losses in Stock may be in the Trillions. And again we are told by Government Officials, economists, Bankers and Business Executives that a variety of solutions are under consideration . All we can do for now is wait. Some changes may be short-term and some long, some immediate and some may take time. But regardless at when the changes come, the damage is done and it can not be ignored.
THE NATION IS WAITING
America is a Nation waiting to see Justice. The Truth is out and we can no longer hide the Sun with our thumb. Every State, City and Community is watching how and what changes will take place. Citizens, Working Americans and Homeowners w ill take note on who are the ones who will benefit from the coming changes. All Americans stand United, Republicans, Democrats, Libertarians, Independents and the Rest, will no longer accept the status quo. We demand changes. We expect Changes. The People deserve Justice from the Crimes committed against U.S.! YES, THE NATION IS WAITING.
Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to buy or sale decisions on the basis of false information, often resulting in losses, in violation of the securities laws.
Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
Securities fraud includes outright theft from investors and misstatements on a public company’s financial reports. The term also encompasses a wide range of other actions, including insider trading, front running and other illegal acts on the trading floor of a stock or commodity exchange.
According to the FBI, securities fraud includes false information on a company’s financial statement and Securities and Exchange Commission (SEC) filings; lying to corporate auditors; insider trading; stock manipulation schemes, and embezzlement by stockbrokers. Our economy is in total chaos and many families have suffered in the account of few individuals who not only engaged in criminal acts but have benefited from their manipulations and deceit. Tax payers continue to carry the burden from what this Criminals do. The ongoing propaganda by Wall Street and Financial Institutions who committed Fraud is at full speed, ” blame the Homeowners”. Please, let us be clear minded, this so-called professional individuals know exactly what they are doing. They make money and they make it at whatever the cost. They have enough resources to buy the best Legal Protection that money can buy. Homeowners are the David’s in this war. It is with sadness and disbelief that most of us, who never participated in the public arena, are now forced to stand up and speak up for the injustice that is being committed against American Families.
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