Are Lenders Too Big To Jail?

Roy Oppenheim, Co-Founder of Oppenheim Law in Fort Lauderdale, Florida and creator of South Florida Law Blog recently noted some striking similarities in a fraud involving Facebook and one you may be facing today, Robo-Signing.

Federal prosecutors have decided to indict Paul Ceglia, a fraudster, who tried to bilk Mark Zuckerberg, founder of the social network Facebook. Ceglia claimed he had a contract where Zuckerberg gave him half the company years ago in exchange for some program coding he did for the young college entrepreneur.

In a press release announcing Celiga’s arrest, U.S. Attorney Preet Bharara said after claiming that Celiga doctored, fabricated, and destroyed evidence involved with his initial lawsuit: "Ceglia's alleged conduct not only constitutes a massive fraud attempt, but also an attempted corruption of our legal system through the manufacture of false evidence. That is always intolerable."

Oppenheim highlighted that - “if you simply removed Ceglia's name in that quote and replaced it with the name of almost any bank that has serviced a mortgage in the last five years, you would have the most succinct condemnation of the robosigning crisis to come out of the mouth of a federal official. Servicers, through their use of Linda Green and friends , were relying on fraudulent or non-existent documents in foreclosure after foreclosure, at a time when Facebook was still in its college-dorm infancy. The only difference here is Ceglia has been charged, yet we have not seen a single Wall Street banker criminally prosecuted, let alone any financial institutions. But make no mistake, the crimes bare some startling similarities.”

If you’re wondering how exactly the feds are going after Ceglia, he is being charged with mail fraud and wire fraud. That is how they go after fraudsters when they have no other way to prosecute. So in essence, this case has provided Eric Schneiderman the blueprint on how to prosecute the banks.

Get The Facts On Your Loan and Protect Your Rights!

______________________



Mortgage Loan Compliance
The Forensic Loan Audit Company

Proven Results That Work - Get The Facts, Audit Your Loan, Sue Your Lender and Protect Your Rights!

Call Today 1-866-966-6615 or Visit www.ml-compliance.com