Posts Tagged ‘crimes’

The Facebook Fraudster, and the Key To Prosecuting the Robosigners

Friday, November 2nd, 2012

Roy Oppenheim’s commentary was originally published on Yahoo! Homes and is being republished on South Florida Law Blog with their permission.

I love hypocrisy, and try as a I might, I can not escape it.

Here is the latest, and it is a rich one. Federal prosecutors have decided to indict a fraudster who tried to bilk Mark Zuckerberg, founder of Facebook.

Paul Ceglia claimed he had a contract where Zuckerberg gave him half the company years ago in exchange from some coding he did for the young college entrepreneur.

Fast forward and now Ceglia has been accused of being a decent forger but not as good as Frank Abagnale Jr. (the con-man who was memorialized by Leonardo DiCaprio in Catch Me If You Can“).

The U.S. attorney’s office in Manhattan arrested Ceglia, alleging he faked part of that contract by forging it from parts of a real contract he had with Zuckerberg to work on another site that had nothing to do with Facebook.

If you believe the U.S. attorney’s office, Ceglia is the fed’s version of Abagnale 2.0, a huckster out to make billions at the expense of others.

Here’s what U.S. Attorney Preet Bharara said in a press release announcing Ceglia’s arrest, after claiming that he doctored, fabricated, and destroyed evidence involved with his initial lawsuit: “Ceglia’s alleged conduct not only constitutes a massive fraud attempt, but also an attempted corruption of our legal system through the manufacture of false evidence. That is always intolerable.”

And that is where I nearly fell out of my chair.
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Mortgage Settlement Payouts Are Another Blown Call

Monday, October 1st, 2012

Roy Oppenheim’s commentary was originally published on Yahoo! Homes and is being republished on South Florida Law Blog with their permission.

Green Bay Packers vs Seattle SeahawksWell the long national nightmare is over. No, not the fraudclosure crisis. Sad to say that legal mess is still being cleaned up years after the bubble burst.

I’m talking, of course, of the NFL referees lockout.

Believe it or not, as I watched the backpedaling by Goodell and Friends after the Monday Night debacle, I found an odd comparison with the latest installment of what I like to call “As the Mortgage Settlement Turns”.

Here in Florida, and in several other states across the country, thousands of homeowners are about to get notices in the mail, stating they too might be able to claim a piece of the settlement pie.

The basic premise is this, if you lost your home to foreclosure, you’ll get a claims form, if you fill it out and you’re deemed eligible, you could get some money for your troubles.

When you take a long hard look at this process, you’ll probably see, as I have, that this process is inherently flawed from the get-go.

It’s why I’m not assisting my clients fill out these forms. I am not getting involved.

So how does this relate back to the NFL? Well since the lockout started every statement that came from the League was a complete and utter whitewash of the problems caused by the use of the replacement referees.

Rather than apologizing or even acknowledging their mistake, a mistake millions of people saw with their own eyes, the NFL just stuck to a hollow narrative and hoped we’d just accept it and move on. Just as the government and the banks are trying to do now with this flimsy settlement.
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Foreclosure Settlement Filed; But Banks’ Crimes Go Largely Ignored

Tuesday, March 13th, 2012

In the weeks after the mortgage settlement was announced by the Federal Government, I waited under baited breath to the see it in its entirety.

Almost every week I read a different report stating the documents to finalize the settlement were about to be filed in court.

And as each reported deadline came and went, I grew more and more skeptical.

Would the banks manage to sneak some last minute releases in? Would the lofty figures promised to beleaguered borrowers be diminished?

The good news, now that documents have been completed and released to the public, is that the answer to both questions is a sound no.

The banks are not getting any get-out-of-jail-free cards, claims against MERS and the securitization process are still very much on the table.

On the other hand, did I learn anything new about the massive frauds perpetrated by the banks? Not really.

There are pages listing what the government has now labeled as “Unfair, Deceptive, and Unlawful Loan Practices”.

The settlement does say that the banks violated federal laws, that they wrongfully denied modification applications, and overcharged for ‘forced place insurance, among other misdeeds.

It even finally acknowledges that the banks engaged in robosigning.

But these are things that my clients and I have long known.

If you’ve read the Wall Street Journal, or the New York Times, or any thorough news story on the housing crisis, there’s little in the mortgage settlement’s pages that will surprise you.

And that’s thoroughly disappointing. What the government has presented to the public is a complete white-washing of the robosigining and “fraudclosure” scandal. It acknowledges that the banks committed certain indiscretions yes, but I couldn’t find one concrete example, not one thorough examination of how it occurred.
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