Thursday, March 11, 2010

Has anyone been able to figure out the mortgage fraud case from yesterday? Also, more news on MDPD Chief legal counsel, Glenn Theobald.

Has anyone been able to make sense of the mortgage fraud case that we began discussing this past Tuesday?  You remember, the case where the mortgage broker who denied a loan then got arrested for referring the loan to another broker who was able to get the transaction closed?  Our interpretation of the arrest affidavit left us a bit perplexed, there seemed to be several key players involved in the transaction that weren't mentioned let alone arrested, namely the people simply identified as "co-def's", someone named "PETER" and the buyer for the home the state alleges was involved in the fraudulent transaction.  

Let's give the state the benefit of the doubt and assume that the sellers of the home located at 610 NW 184th Terrace were not involved in the state alleged "fraud" even though the man who was arrested for referring the loan insists that the buyer and sellers were some how related.

According to the property appraisers office, the property is owned by Semone Smith who purchased the home for $280,000 on 11/07...

That would be the same transaction that is mentioned on the arrest affidavit as having occurred at HRH Title on 11/07.  Since the state alleges that this transaction was fraudulent, surely the buyer, Semone Smith who participated in this alleged fraud, must have been arrested right?  WRONG!  Does that make sense?  If indeed this was some sort of "organized scheme to defraud" the victims, why wasn't the buyer arrested?  Let's not lose sight of the fact that over 2 years after the alleged fraud happened, the buyer that was involved in the fraudulent purchase STILL OWNS AND IS STILL LIVING IN THE HOME THAT WAS INVOLVED IN THE ALLEGED FRAUD!

Moving on, how about the principal of HRH Title, Nannette Colon?  Nothing their either.  What about the man simply referred to as "PETER" in the arrest affidavit?  From our brief investigatory work we've deduced that "PETER" must have been Peter Lella, the owner of Syracuse Capital Management, the mortgage brokers who got the loan financed, so was he arrested?  NOPE!  Believe it or not, from what we've been able to see through researching the file, the only person that was arrested in this case was THE POOR MORTGAGE BROKER THAT DENIED THE LOAN THEN REFERRED IT TO ANOTHER MORTGAGE BROKER!  Once again, we defer to our expert mortgage fraud investigator to give an opinion of Detective Baluja's work on this case, his opinion can be found here...

No biggie, just another botched mortgage fraud investigation, another persons life permanently altered, just another day at work for Detective Jorge Baluja.  We'll discuss how this case ended and why tomorrow.  We mentioned earlier this week that the Chief Legal Counsel of the MDPD, Glenn Theobald was in some sort of trouble over the authorization of questionable spending by the MDPD of monies from a federal trust fund set aside for the investigation of environmental crimes.  Somehow the local media has been very quiet about this subject and aside from our sources, we haven't heard anything anywhere regarding this story, that is until last night when we caught this on the evening news...


  1. "some sort of trouble over the authorization of questionable spending"?
    Words has it that the Feds are considering criminal charges.

  2. your boy Baluja is the product of the MDPD "friends and family program".