bobbyharris
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Re:"MD Judge Orders Investor to Pay $510,968..." - 2006/12/13 15:20
And now, the rest of the story...
Seems the defendant found a little old lady in foreclosure. He gave her a reconvenance agreement to sell the house back to her in one year - the first no no.
Then - the old lady never signed any sales contract or deed, but the "foreclosure consultant" defendant recorded a fictitious document at the county transferring ownership of the property.
So, here's the pitch - you could get hit with a $500K fine if you don't know all the finer points of SB761. In fact, you should spend 4 months at $1,500 a month on Teleconferences, etc. to make sure you don't get fined.
Give me a break, guys!!!
First of all, what this guy did was FRAUD. They just used this law to hang him. He made up a deed to some unsuspecting persons property, forged signatures, and recorded it at the county. Most 12 year olds could tell you that's illegal. I don't need a $6K course to tell me not to do that.
While your statement that "If you think education is expensive, try ignorance" may be true - the statement in no way, shape or form applies in this situation. This defendant knowingly comitted fraud.
Secondly, I could spend THREE hours at $400 per hour with any one of the attorneys involved in this case and have all the forms personalized and an education (from an attorney) about the law for $1,200 bucks. Then, if I do get hung up on a paperwork technicality, I've got the attorneys E & O to cover me. Also, if I do get someone suing me for the "pot of gold" I've got MY attorney to defend me instead of a Real-Eduvestor. Shouldn't you leave the legal advice to the lawyers? It seems like a gray area to me.
Next, if you're going to teach people about the finer details of the law, all of your Realeduvestors should be people who understand the origins / details of the bill. One faculty member, in this forum, urged his fellow investors to vote for fellow investor Josh Rales for Governor because Bob Ehrlich pushed this bill on investors. His statements were so uninformed and wrong on so many levels that I have trouble giving him any credibilty on this subject again. On the two occasions I've brought this valid criticism up, it's either been ignored or deleted with no explanation.
Finally, is there any update on the criminal prosection of the defendant? Or should I wait for the "Investor sent to prison for not complying with details of SB761" email?
Post edited by: bobbyharris, at: 2006/12/13 16:22
Post edited by: bobbyharris, at: 2006/12/13 16:25
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