The Federal Law Enforcers Seem Strangely Silent on Criminal Foreclosure Fraud
Written on December 31, 2011 by Brooke Wardlaw
The Federal law enforcers seem strangely silent on criminal foreclosure fraud. Is Washington afraid? Reuters have reviewed the records of bankruptcy court of New York (Southern District) to find that a minimum of twelve totally different documents claiming to be the genuine promissory note have popped up in foreclosure related cases; involved are six properties.
In one of the cases Wells Fargo was fighting to take over the house of a single mother, Tindala Mims in Bronx. She is employed as the driver of an ambulance.
In 2010 September Wells Fargo submitted one promissory note, signed and stamped showing the owner of the note was Washington Mutual Bank that has become defunct. Upon scrutiny physical alterations were noticed. Many marks were missing on original or appeared to have been clearly altered in the second.
The second one contained an endorsement that was stamped – something that was not there on first; the impression given was that Wells Fargo had foreclosing rights. The judge turned down the second attempt also but not to be deterred, Wells Fargo is trying for the third time. The bank refused to make any comments.
The lawyer of Mims, Linda Tirelli has brought a legal suit against Wells Fargo for “fabrication of documents”. Tirelli said, “It seems to me that Washington is deathly afraid of the banking industry. If you’re talking about filing false documents and filing false notarizations, do you really think that the U.S. Attorney would find it too difficult to prosecute”?
Preet Bharara U.S. Attorney has a matter of routine pressed charges relating to forgery and submission of false documents against the small fry. Last April, seven employees of USA Beauty School located in Manhattan were arrested by FBI. The allegation is that they forged various documents – diplomas of high school, records of attendance and applications relating to financial aid for those students attending classes in cosmetology.
Last August the office of Bharara brought against the CEO of a company dealing with sports memorabilia felony charges. He was accused of selling in auction, jerseys that have been wrongly advertised to have been used in game by renowned players of Major League Baseball.
Considering these and other activities of the office aggressively chasing maxi and mini violations of the law, of U.S. Attorney across America, it seems strange that cases relating to foreclosure fiasco are noticeably absent. Why?
Visiting Professor Raymond Brescia (Yale University) said, “Why there hasn’t been more robust prosecution is a mystery”.
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