Unsealed Complaint | Wells Fargo, Bank of America, J.P. Morgan Chase and GMAC Mortgage, Engaged in “A Brazen Scheme to Defraud Our Nation’s Veterans”

“God help any bank that takes this case to trial,” Burns said.

“A jury’s only question is going to be ‘How much do they have?’ ”

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Suit alleges banks and mortgage companies cheated veterans and U.S. taxpayers

Some of the nation’s biggest banks and mortgage companies have defrauded veterans and taxpayers out of hundreds of millions of dollars by disguising illegal fees in veterans’ home refinancing loans, according to a whistleblower suit unsealed in federal court in Atlanta.

The suit accuses the companies, including Wells Fargo, Bank of America, J.P. Morgan Chase and GMAC Mortgage, of engaging in “a brazen scheme to defraud both our nation’s veterans and the United States treasury” of millions of dollars in connection with home loans guaranteed by the Department of Veterans Affairs.

“This is a massive fraud on the American taxpayers and American veterans,” James E. Butler Jr., one of the lawyers bringing the suit, said Tuesday.

Tens of thousands of the VA loans have gone into default or resulted in foreclosures, resulting in “massive damages” to the U.S. government, the suit alleges. The faulty loans will cost taxpayers hundreds of millions of dollars, with the costs rising as more VA loans go into default, according to the suit.

Check out the rest here…

Other companies named as defendants include CitiMortgage, Washington Mutual Bank, PNC Bank (which acquired National City Mortgage), Countrywide Home Loans, Mortgage Investors, First Tennessee Bank (which acquired First Horizon Home Loan), Irwin Mortgage and New Freedom Mortgage.

Full complaint below…

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4closureFraud.org

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United States of America ex rei., Victor E. Bibby and Brian J. Donnelly, Vs Wells Fargo, Country Wide, Bank of America, JPMorgan Chase, et al

Comments
55 Responses to “Unsealed Complaint | Wells Fargo, Bank of America, J.P. Morgan Chase and GMAC Mortgage, Engaged in “A Brazen Scheme to Defraud Our Nation’s Veterans””
  1. withament says:

    Dear FBI, US Secret Service, DOJ, HINTERLAND SECURITY and 1600 Pennsylvania Avenue ….. RESIGN NOW ….. RECUSE YOURSELVES …. STOP LYING TO EVERYBODY https://sites.google.com/site/thegreattexasbankjob/Home/speculation-bubbles-and-crashes-looting-101?pli=1

  2. Ali says:

    Through my own investagation I have found that ther were two maybe three loans taken out at origination !) VA loan @2) Washington Mutual (Home equity loan) #3 Chase. Nothing recorded with the Recorders office. WE put $37.000 down confirmed by the Department of Veterans Affairs and paid in full according to the Dept of Veterans affairs. Morgage was sent to us, and recorded at the Recorders office. Our (so called closing atty.)
    was in on it from the origination. I got info about others from credit report from “Krolls” credit report, they are by their own admission a subprime qualifier. The loans from Washington Mutual and Chase are paid with o Balences on them. We paid washington Mutual for a year and then Wells Fargo for a year. Only papers from origination with seller to us, and aquit claim deed from my husband to us including me on the mortgage as our pretender lawyer called and said it would be best to do that for liability reasons, something about my husband being in a accident and being sued and since my name would be on it they could not sue for our house because it was maritable property. I know now that that was a crock of shit. The broker who planned this whole thing has done the same to thousands of other people accordin to the Recorders records. When I finially got our records there was a release of mortgae, a satifaction of mortgage (which had Firdt Mortgage Corp listed as the lender. and a certificate, kinda looks like a dipploma or something that says “congradulations, we have recieved the funds to pay your morgage in full” and lists the amount. I have tracked down each and every listing @ the recorders office and have ascertained that there is no morgage and never was. I looked up the seller on the recorders website and there is nothing exept when he sold the house to us via an “Avidavit of Title/Bill of sale” signed in blue ink. His son lives next store and I intend to question him about ownership of hse. Sneakaly of course. Now comes Countrywide (through MERS) as “LENDER” and then of course BOA. I am still in house ater four years and have instructed insurance co. to send homeowners bill to us ONLY, and the treasurers office the same, they said it was “already done” and we still have our homeowners excemption. Our Att> at closing is affiliated with Ticor Title, Stewart Title, Nationwidwide, and Fitelity. Small world Huh?Have all canceled checkes from mortgage payments and to atty, which onthe back say “pay to the order of…. can’t read to whom but I think it is First Morgage Corp. (I’m sure my bank could probably look it up for me. I asked BOA to prove they had the note and they sent a sorry assed piece if paper “pay without recourse to ….I forget, the sig is unreadable. But from what I can see (thanks to everyone here, we were robbed and payed monthly morgage payment on a loan that did not exist. On our credit report it says “High Balance” $609,337″ unbelievable! I am up to my eyeballs inpaperwork and its all a lie. I owe nothing, to anyone. And as for MERS, they can go to hell. I guess I’ll just have to wait and see who crawls out of the woodwork to claim our home. I didn’t come this far to quit so I’ll march on and try to help others at the same time. All I can say is everyone is in on this. Why isn’t the recorders office screeming about the fees, there about one to three houses for sale on each block surrounding mine including one right on my block. Nobody wants to talk about it around here. I’m evev afraid to go on a vacation. I have protection in my home and will fight to the end but what if I’m not here? I’ll keep you all posted. And Michelle, this is the first time in my adult life that I’m ashamed to be an American”

    • lvent says:

      Great Job Ali…and the bottom line and the realtruth is ..it is the ASSIGNMENT OF BENEFICIAL INTEREST OF THE ASSIGNMENT OF COLLATERAL INTEREST…THAT ARE THE _ONLY_ TWO ASSIGNMENTS THAT CREATE A LEGALLY ENFORCEABLE LIEN IN THE STATE OF ILLINOIS…..Everything else is a bunch of bogus b.s….and that is what they are trying to hide…! The mortgages and notes are all a nullity because these criminals dishonored our notes and signatures at the Origination Fraud…and their is no legal fix for that…besides these FEDERAL RESERVE CROOKS OWE THE AMERICAN PEOPLE SO MUCH MONEY…IT CAN NEVER BE REPAID…AND THEY ARE ROBBING US UNDER THE GUISE OF MONEY LENDING…AND THEY NEVER LENT US ANY MONEY…WE LENT OUR MONEY TO THEM…AND THE TRUTH IS IN THOSE STAMPED PAID WARRANTY DEEDS THAT WE ALL HAVE IN OUR POSSESSION…AND IN THE FACT THAT THERE HAS NEVER BEEN A LEGAL ASSIGNMENT EVER RECORDER AT OUR COUNTY RECORDERS OFFICES..THEY ARE QUITE SIMPLY…VERY EVIL AND DECEPTIVE CROOKS…AND THE JUDGES DO KNOW ALL OF THIS IS TRUE…WE JUST HAVE TO SHOVE THE TRUTH IN FRONT OF THEIR FACES…AND LET THEM KNOW THAT WE KNOW THE TRUTH…AND THE RULE OF LAW…AND THAT IS UNDENIABLE….OUR HOMES AND BUSINESSES AND EVERYTHING IN THIS COUNTRY WAS PAID UP FRONT BY WE THE PEOPLE…AT THE ORIGINATION…ALWAYS HAS BEEN AND THAT INCLUDES ALL OF THESE MANUFACTURED WARS THAT THEY KEEP CREATING…!

      • lvent says:

        Oops Ali, sorry I goofed..I meant to say that in Illinois a RECORDED…. Assignment of Beneficial Interest OR A RECORDED Collateral Assignment of Beneficial Interest is the only way to create a legally evcnnforceable lien in Illinois…THOSE ASSIGMENTS ARE REQUIRED TO BE RECORDED IN 30 DAYS…….. THEY ARE HIDING THAT …. That is what they are covering up and do not want us to know…GOOGLE SEARCH THE NAMES OF THOSE 2 LEGAL ASSIGNMENTS …YOU CAN PRINT OUT COPIES OF WHAT THEY LOOK LIKE…THEY CAN ONLY GO BANK TO BANK…..AND READ ILLINOIS TRUST LAWS…THOUGH THEY ARE TRYING TO IGNORE THEM…THOSE TRUST LAWS ARE THE LAWS GOVERNING A LEGAL INTEREST IN REAL PROPERTY IN THE STATE OF ILLINOIS… .

    • Igor says:

      Ali, Did you contact the law firm in Atlanta that is handling the whistle blowers law suit regarding what appears to be loan origination fraud? It would appear the same racket involved in this fraud would be involved in the multi-pledging fraud. It involves the same essential MO, and ‘network’. IMHO. It appears to go to the bowels of the VA Loan Guarantee Office (in Atlanta).

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