Long Island Man Pleads Guilty to Mortgage Fraud Scheme

LEARN HOW TO FIGHT WITH HONOR AND WIN!

Stop assuming there was any loan account receivable to pay off.

see https://www.justice.gov/usao-edny/pr/long-island-man-pleads-guilty-mortgage-fraud-scheme

Dear SDNY: You probably got the wrong guy. He can’t be guilty of stealing anything if there was no victim. You portray the victims as homeowners. They indeed were victims but not the victims of this defendant. They were the victims of fraudulent foreclosures on behalf of entities that had no right, title, or interest in the underlying debt and who therefore could claim no injury from non-payment.

He was getting paid too much and he should have disclosed that and he might be liable for doing that. But it wasn’t theft. He was only using the same business model as is currently in use by the banks. They create illusions, sell securities and generate revenues far in excess of any transaction with any homeowner. But they neither give credit to the homeowner, without whom the scheme could not work, nor any disclosure that would enable a homeowner to bargain for different terms.

Such prosecutions merely enhance the viability of these fraudulent schemes at the macro level — a level that you should investigate much more closely. it isn’t hard. See 9-203 UCC adopted by New York State legislature verbatim. Stop assuming there was any loan account receivable to pay off.

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