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Tuesday, January 27, 2009

AS BAD AS THE SARASOTA REAL ESTATE FLIPPERS WERE ON THE FRONT SIDE, THE MORTGAGE COMPANIES & FORECLOSURE ATTORNEYS ARE ON THE BACKSIDE, FBI EYES BOTH

In Sarasota Fl one name that pops up repeatedly with con man Neil Mohamed Husani's spectacular Southwest Florida real estate deals is John A. Yanchek. Yanchek was Husani's attorney.


Neil Husani roots lie in Amman Jordan and that is where the FBI is looking for him and the millions he transferred.


It was Yanchek who prepared the closing documents when Husani bought property, and it was Yanchek who prepared closing documents when Husani resold the property to partners at much higher prices, often on the same day.


It also was Yanchek who provided the 36-year-old Husani and his partners with title insurance, filed their deeds and mortgage documents with county governments and held their deposit money in escrow.

Between January 2005 and March 2006, Neil Husani, whose business dealings are being scrutinized by the FBI (Husani is hiding in Amman Jordan), completed seven real estate transactions in Manatee and Sarasota counties, buying land for a total of $43 million, reselling it to partners for $117 million and helping them obtain $84 million in bank loans, according to records filed with county courts.


John and Neil have known each other a long time," said Robert Martin, Husani's former partner. "John handled a lot of transactions for Neil, they're good friends."


Yanchek, however, denies that there are any deep ties and says that he never coached the younger man on any real estate strategies."


And though Yanchek's name appears as president of five of the companies he was selling to, he denies that he was selling the houses to himself at inflated prices.Despite Yanchek's efforts to distance himself from Husani, some links between the two men remain.


It was Yanchek who filed a deed with Manatee County in March stating that Husani had bought 224 acres of ranch land for $5.6 million, when Husani only paid $2.2 million a matter that is now being investigated by the FBI.




On the backside of the real estate flippers debacle that has left the Sarasota market in shambles are the rogue mortgage companies and their foreclosure attorneys moving in and attempting to foreclose on properties that they do not legally hold title to, FBI investigates.


One of the front runners in the illegal Sarasota foreclosure market is the Deutschse Bank who uses the Law Office of David J. Stern in Plantation Fl.


See my prior post on this group, Monday, January 26, 2009, THOUSANDS OF HOMEOWNERS ARE ILLEGALLY FORECLOSED ON BY DEUTSCHE BANK, IN FLORIDA LAW OFFICE OF DAVID J. STERN LEADS THE PACK, FBI IS INVESTIGATING !


Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court - “They Own Nothing!” Judge Christopher A. Boyko of the Eastern Ohio United States District Court, dismissed 14 Deutsche Bank-filed foreclosures in a ruling based on lack of standing for not owning/holding the mortgage loan at the time the lawsuits were filed.


In Sarasota Florida, The Herald-Tribune looked at 66 of 135 foreclosure sales that Deutsche Bank has completed since January 2008 and determined that those properties sold on average for 44 percent less than Deutsche Bank was owed by the previous owners. The Herald-Tribune examined Deutsche Bank sales closely because the German powerhouse had more foreclosures filings in Sarasota than any other mortgage lender, a total of 833 since August 2007, court records show.


In Plantation Fl and elsewhere in Florida, the Law Office of David J. Stern is handling a lot of the Deutsche Bank Foreclosures, see my prior post on the dubious background of the Law Office of David J. Stern, Law Firms Cash In On Foreclosures, The Law Offices of Daniel J. Stern In Plantation Fl Leads the Pack, What is Their Deal ?


Numerous Rip-Off Report complaints, lawsuits, legal malpractice suits and a Florida Bar "Public Reprimand", are Mr. Stern's pedigree, see here, and here ,and here , and here on top of all that the Law Office of David J. Stern is the Defendent in a "Legal Mallpractice Lawsuit, see here.


If the real estate scammers in Sarasota were not enough, now add in Sarasota "Hedge Fund Fraud" Art Nadel, from new York City, who appears to have bilked his investors out of at least $350 Million and run off to points unknown (FBI, check Atlanta and NYC were he has links).


See one of my prior post on Art Nadel here, SEC charges Art Nadel with fraud in Sarasota, Art Nadel Links to a NYC Address, Howard P. Sturman and the NYC Mob.
UPDATE.....Tuesday, January 27, 2009, SARASOTA'S ART NADEL ARRESTED BY TAMPA FBI HE WILL BE SHIPPED TO NEW YORK CITY TO STAND TRIAL IN FEDERAL COURT, ART NADEL NYC MOB LINKS IN QUESTION.


Sarasota, there is not going to be much left of you as the carpetbaggers have fled the State with your cash and the foreclosure Attorney vultures have moved in.


Bill Warner
private investigator
WBI Inc Private Detective Agency
Sarasota Fl