What a week…
And this is why you don’t want to get on 4closureFrauds radar…
Once you do, you will be exposed…
Specifically, Gerald M. Shapiro of Shapiro & Fishman (Part of the LOGS Network).
Hat tip to TJ.
Foreclosure lawyer faces suit on office building
By: Colleen Lobner July 12, 2010
(Crain’s) — A real estate lawyer who represents lenders in foreclosure cases faces a lawsuit of his own on a small Northbrook office building.
The property, 4201 Lake Cook Road in the north suburb, is owned by a trust whose beneficiary is Gerald M. Shapiro, chairman and CEO of LOGS Group LLC. LOGS, which formerly was based in the Lake Cook building, is a network of law firms and title agencies that specialize in handling foreclosure litigation for lenders.
Heart Financial, a subtenant in the Northbrook building, moved to Schaumburg in late 2008 and the building emptied out completely in April, when LOGS relocated to Bannockburn, says Gerald Alt, president of LOGS and Heart president and CEO.
A $6.7-million loan on the property was not paid off when it came due June 1, according to a foreclosure complaint filed June 10 in Cook County Circuit Court. Mr. Shapiro also failed to pay real estate taxes on the property, the complaint alleges.
The total amount due is $6.14 million, plus interest and late charges, according to the complaint.
A spokeswoman for Mr. Shapiro declines to comment.
What a deadbeat…