Shapiro DiCaro & Barak LLC Sanctioned for $5,000 in HSBC v Taher for “frivolous conduct,” “waste of judicial resources,” “use of robosigners,” and asserting “material factual statements that are false.”

HSBC Bank USA fined $10,000 in home seizure

An outspoken State Supreme Court justice in Brooklyn known for taking on banks and throwing out foreclosures has fined HSBC Bank USA $10,000 for “frivolous conduct” in trying to seize a home without proper paperwork.

Justice Arthur M. Schack sanctioned the U. S. subsidiary of London-based HSBC Holdings Plc last week, citing the bank’s “waste of judicial resources” in continuing a foreclosure action “with all of its defects.”

In his ruling, he said the bank’s “use of robosigners” is “completely without merit in law,” and he accused the bank of asserting “material factual statements that are false.”

He also sanctioned HSBC’s legal counsel, the law firm of Shapiro DiCaro & Barak LLC, for the same reasons, putting blame specifically on attorney Frank M. Cassara but imposing a $5,000 fine on the firm instead of the attorney.

Rest here…

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4closureFraud.org

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12 Responses to “Shapiro DiCaro & Barak LLC Sanctioned for $5,000 in HSBC v Taher for “frivolous conduct,” “waste of judicial resources,” “use of robosigners,” and asserting “material factual statements that are false.””
  1. J says:

    I find it funny that he sanctioned the two entities that weren’t at fault, and let the servicer, who actually created the faulty documents, skate away free? It’ll be appealed and overturned, but he got his point in this news again, which was his goal.

  2. Zee says:

    $5000 – for committing felony fraud? Is there an ala carte menu for frauds that can be committed the the trivial fines that can be expected, since jail-time or revoking the lawyers ability to practice law would hurt their feelings?

  3. Beth A. says:

    FYI site administrators = Nearly every posting attempt is met with an error “Timed Out….”. Thanks for following up on this problem.

  4. Beth A. says:

    Should’ve been a higher penalty to discourage additional acts. But, a good start.

  5. lvent says:

    I went to the Country Recorders office to get certified copies of the FOUR ASSIGNMENTS that were recorded after the foreclosure lis pends was recorded…

    • lvent says:

      The clerk told me they can’t do that…

      • lvent says:

        I told the clerk they are trying to strike my affirmative defenses of fraud and I need proof for court that they indeed are fraudsters…

      • lvent says:

        After a litany of lively discussions with various clerks I proceeded to go to the mortgage fraud dept to file a formal complaint..

      • lvent says:

        The nice man was intrigued with my story and told me he would investigate…he will call me on Tuesday with his findings…

      • lvent says:

        THe clerk also informed me that after the 1st of the year there will be a thousand dollar fine for recording fraudulent docs…I doubt that will stop them but it is something.,…!

  6. Kathleen Burt says:

    $5000 doen’t seem like much for all that!

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