Alabama Real Estate Investor Pleads Guilty to Mail Fraud Conspiracy Involving Foreclosed Homes

DOJ

“Honesty and integrity in business practices are a hallmark of the American way and those who engage in illegal activities to obtain a business advantage which lines their pockets with ill-gotten gain will be held accountable by the FBI for their action”

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Alabama Real Estate Investor Pleads Guilty to Mail Fraud Conspiracy Involving Foreclosed Homes

An Alabama real estate investor pleaded guilty for his role in a conspiracy to commit mail fraud at public real estate foreclosure auctions held in southern Alabama, the Department of Justice announced today.

Adrian J. Beach admitted that he conspired with others to, among other things, defraud financial institutions, homeowners and others with a legal interest in rigged foreclosure properties, out of proceeds from foreclosure auctions.  Beach is charged with participating in the conspiracy from January 2004 through March 2010.  Financial institutions and homeowners suffered monetary losses as a result of the conspiracy. 

“Adrian Beach schemed to rig home foreclosure auctions for his own benefit,” said Principal Deputy Assistant Attorney General Renata Hesse, head of the Justice Department’s Antitrust Division.  “Real estate investors should know that the division and its colleagues in law enforcement will hold them accountable for conspiring to defraud banks and homeowners by depriving them of competitive auctions.”

“Honesty and integrity in business practices are a hallmark of the American way and those who engage in illegal activities to obtain a business advantage which lines their pockets with ill-gotten gain will be held accountable by the FBI for their action,” said FBI Mobile Division Special Agent in Charge Robert F. Lasky.

Beach is the fourteenth defendant prosecuted in the Antitrust Division’s ongoing investigation of bid rigging and other fraudulent conduct in the Alabama real estate foreclosure industry.

The investigation into fraud and bid rigging in the Alabama real estate foreclosure industry is being conducted by the Washington Criminal II Section of the Antitrust Division, and the FBI’s Mobile Field Office, with the assistance of the U.S. Attorney’s Office for the Southern District of Alabama.  Anyone with information concerning bid rigging or fraud related to public real estate foreclosure auctions should contact the Washington Criminal II Section of the Antitrust Division at 202-598-4000, call the Antitrust Division’s Citizen Complaint Center at    1-888-647-3258, or visit www.justice.gov/atr/contact/newcase.htm.

These charges have been filed in connection with the president’s Financial Fraud Enforcement Task Force.  The president established the task force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes.  With more than 20 federal agencies, 94 U.S. Attorneys’ Offices and state and local partners, it is the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud.  Since its formation, the task force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state, and local authorities; addressing discrimination in the lending and financial markets; and conducting outreach to the public, victims, financial institutions and other organizations.  Since fiscal year 2009, the Justice Department has filed over 18,000 financial fraud cases against more than 25,000 defendants.  For more information about the task force, please visit www.StopFraud.gov.  Anyone with information concerning bid rigging or fraud related to public real estate foreclosure auctions should contact the Washington Criminal II Section of the Antitrust Division at 202-598-4000, call the Antitrust Division’s Citizen Complaint Center at 888-647-3258, or visit http://www.justice.gov/atr/report-violations.

SOURCE: DOJ

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Comments
One Response to “Alabama Real Estate Investor Pleads Guilty to Mail Fraud Conspiracy Involving Foreclosed Homes”
  1. mike Drouin says:

    If you knew the magnitude of Law violations it takes to steal your home , you would have to ask the question , how are they getting away with it ??? The most simple answer to that is , most everyone has believed that the Mortgages were all legitimate ! But they weren’t !!! It’s an illusion of ownership , and to cover the big lie , you have to keep the lie (fraud) going through to the end .The entities that you thought you were in a mortgage with , didn’t lend you a dime ! and the permission you gave them to transfer your mortgage and note is void to the reality of them just being the servicer of the loan that was funded by INVESTMENT BANKS , with INVESTOR MONEY , and both those entities have no right to foreclose on the property because the Investment Banks used investor money to fund the loans and the Investors bought ” entitlement certificates ” Converted promissory notes , with no rights to foreclose on anyone !!! Because they pulled this contract behind your back and without your permission you have a right to rescind the bogus Mortgage contract because it’s an illusion of ownership . What they did constitutes , FRAUD IN THE FACTUM , and FRAUD IN THE INDUCEMENT which gives you the right to cancel the fake mortgage contract . You also have the right to sue for the obscene profits they made because of your possessory right in the note , and your proprietary right in the asset ( home) they used to fund the scheme ! You funded the whole thing !!!!!! Sue for that money !!!

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