By LYNN E. SZYMONIAK, ESQ. Editor, Fraud Digest
(www.frauddigest.com), AUGUST 1, 2010
In the last weekend in July, 2010, photographs of Florida lawyer David J. Stern appeared on the internet. Stern, the owner of the largest foreclosure law firm in Florida, was photographed sun-bathing on his
130’ foot yacht, reportedly to be named “Su Casa es Mi Casa” (your house is my house). There were also photos alleged to be of Stern’s 2008 black Bugatti Veyron, a $1.85 million car and the most expensive street legal car. “Su Casa” is not Stern’s only yacht. The Bugatti is not Stern’s only sports car.
Stern has likely profited more than most any other Florida lawyer from the nation’s foreclosure crisis. The Law Offices of David J. Stern represent most major banks in foreclosures and bankruptcies. Stern’s firm is one of the largest working for Lender Processing Services, Inc., the Jacksonville-based company that specializes in “default management.” According to an article in the Tampa Tribune, the firm’s revenues grew to $260 million as a result of its foreclosure work.
In addition to his law firm, Stern also heads DJSP Enterprises, Inc., a publicly-traded corporation formed in early 2008.According to DJSP Enterprises, the company is the largest provider of processing services for the mortgage and real estate industries in Florida and one of the largest in the United States. “Processing services” sounds like a benign activity, but an examination of some of the documents prepared by Stern’s businesses shows otherwise.
Continue reading Lynn’s fascinating report below…