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Tuesday, February 01, 2011

Deutsche Bank Foreclosure Attorney David J. Stern Spends Millions On Bugatti Sports Cars and Island Mansions, Stern is Just "Misunderstood".



Foreclosure King David J. Stern, U.S. SECURITIES AND EXCHANGE COMMISSION  Report on DJSP Enterprises, Inc.; David J. Stern, our President and Chief Executive Officer, is also the sole owner of DJS, which is our primary law firm customer, and he (David J. Stern) may, under certain circumstances, have interests that differ from or conflict with the interests of our shareholders, No Kiddin.

David J. Stern received from DAL the following: (i) $58,500,080 in cash; (ii) $52,469,000 in a promissory note issued by DAL to DJS (the “Stern Deferral Note”); (iii) 1,200,000 DAL Common Units; (iv) 1,666,667 DAL Series A Preferred Units; (v) 3,133,333 DAL Series B Preferred Units; and (vi) the right to receive $35 million in post-closing cash.

MAJOR SHAREHOLDERS DJSP Enterprises, Inc;
1). Kerry Propper: 302,907 ordinary shares, and 377,968 ordinary shares underlying warrants.
2). Dr. Richard D. Propper: 186,528 ordinary shares and 400,000 ordinary shares underlying the warrants.

Attorney David J. Stern sun bathing on his yacht "Misunderstood", click on photo above to enlarge.  NEW YORK TIMES, Attorney David J. Stern and Stern Law Office Exposed by Staff Writers Gerry Fabrikant and Gretchen Morgenson With Help From Sarasota Private Investigator Bill Warner.  The NY Times ran the article Florida’s High-Speed Answer to a Foreclosure Mess” written by By GRETCHEN MORGENSON and GERALDINE FABRIKANT published on September 4, 2010.  

Published on: Jul 24, 2010 @ 14:02..Foreclosure Attorney David J. Stern Leads the Life of a Oil Rich Sheik While Destroying The Lives of Thousands of Florida Homeowners, ‘Su Casa es Mi Casa,’ Exclusive Photos by Bill Warner.  From reliable sources in Fort Lauderdale Fl, it appears that Foreclosure Attorney David J. Stern, his photo above, rolled over most of the $58.5 million he reaped by selling his back-office operations to a new public company (DJSP Enterprises) into 13 or so Porsche, Ferrari, Mercedes and Cadillac vehicles and at one time a jet black 2008 Bugatti Veyron that cost about $1,800,000 or more.
There is a a big yacht called "Misunderstood" docked outside of David J. Stern’s Intercoatal waterfront home in Fort Lauderdale, see photo above, and registered in the Virgin Islands the same place Stern has his DJSP Enterprises corporation registered. Is Fort Lauderdale’s waterfront becoming a rogue’s gallery?   Water taxi drivers, who once highlighted celebrity homes, are now sprinkling in famous fraudsters such as the $15 million home of foreclosure attorney David Stern, and his yacht, dubbed Misunderstood, see photo above.



3 Months after posting the Foreclosure Attorney David J. Stern Leads the Life of a Oil Rich Sheik While Destroying The Lives of Thousands of Florida Homeowners, ‘Su Casa es Mi Casa,’ Exclusive Photos article, David McLaughlin in New York at dmclaughlin9@bloomberg.net used my investigative research to form the basis for his Bloomberg News article, "Foreclosure Fortune Buys Bugatti, Yacht, Mansions for Attorney", By David McLaughlin  on Oct 19, 2010 10:49 AM ET . Prior to posting his article, David Mclaughlin, contacted me several times via phone and email to go over the Stern bio, he then wrote the article as if he had done all the investigative research, what a jerk.


DJSP Enterprises (David James Stern Processing) on the NASDAQ is/was a scam, multiple SEC complaints and lawsuits; Shares of DJSP Enterprises on the NASDAQ went at a 52 Wk High of $13.65 to a Low of $0.33, that's right, Stern's DJSP Enterprises went from $13.65 in Jan 2010 down to $ 0.33 a share and Stern pulled down $55 Million in up front money. 

July 23rd, 2010 Securities Class Action Filed Against DJSP Enterprises, Inc. A securities class action complaint was filed in the U. S. District Court for the Southern District of Florida on behalf of all persons who purchased the common stock of DJSP Enterprises, Inc. (NASDAQ: DJSP) during the period of  March 16, 2010 to May 27, 2010.  DJSP is a Florida-based mortgage and real estate processing company that offers non-legal services that support the residential real estate foreclosure market.

Chardan 2008 China Acquisition Entered Into a Business Combination With DAL Group, David J. Stern Law office, DJSP Enterprises, Inc – gone public on the NASDAQ. Chardan 2008 China Acquisition was run by Kerry S. Propper he has had some problems with the SBA and the Department of Justice as did his father Dr. Richard D. Propper.  Kerry S, Proper, Richard D. Propper and Royale Holdings own 1,151,128 shares of Chardan 2008 China Acquisition, they are the majority share holders of the company now directly linked to David J. Stern and DJSP Enterprises, Inc.
1). Kerry S. Propper was the subject of 2003 Federal law suit filed in Conn. by the Small Business Administration one of his co-defendants was Acorn Ct Investments LP, they all ended up paying the SBA $1,764,333 in total see link http://www.paed.uscourts.gov/documents/opinions/04D0487P.pdf  

2). Kerry S. Propper was/is under Dept of Justice investigation with his father Richard Propper. One of their partners, John Torkelsen, was convicted of defrauding the SBA and sent to Federal prison for 70 months. SBA seeks to recover $96 million from Richard Propper and the rest of the crew in yet another SBA lawsuit.

3). DEPARTMENT OF JUSTICE;
FRIDAY, DECEMBER 29, 2006, U.S. Files Suit Against John Torkelsen, Richard Propper, Daniel Beharry, & Sovereign Bank Alleging Fraud of $32 Million Against the Small Business Administration.


"We will put people in jail," Iowa Attorney General Tom Miller said, according to homeowner advocates present at the meeting in Des Moines.  Miller said the 50 attorneys general (FLORIDA PAM BONDI) participating in the investigation want criminal prosecutions as part of a big settlement with home-loan providers. The probe launched this fall in the wake of news that the foreclosure processes at many large banks (Deutsche Bank) are as bogus as the lending practices that fed the housing bubble in the first place, as banks granted loans indiscriminately to feed derivatives-market speculation and failed to track original mortgage documents after packaging the loans and selling them to investors. 

Several banks temporarily halted foreclosures shortly after some of the more egregious practices were revealed, but resumed seizing homes as the scandal fell off the front pages. "One of the main tools needs to be principal reductions, just like in the farm crisis in the 1980s," Miller told the assembled homeowners, adding that he also supported restitution for victims of wrongful foreclosure. "There should be some kind of compensation system for people who have been harmed."


NEW YORK Fri Jan 28, 2011 7:08pm EST.   U.S. investigates Deutsche Bank in foreclosure case; (Reuters) - A branch of the U.S. Department of Justice is investigating whether Deutsche Bank filed false documents and attempted to mislead a bankruptcy judge in a foreclosure action (In Florida Deutsche Bank had used the Law Office of David J. Stern in thousands of foreclosure cases).  The inquiry involves Deutsche Bank National Trust Co, the Deutsche Bank unit that acts as trustee for thousands of trusts that invested in mortgage-backed securities. The U.S. Trustees' Office is a division of the Department of Justice responsible for overseeing administration of bankruptcy cases. 

April Charney, a Florida legal aid attorney who represents homeowners in foreclosure cases and who is an expert on mortgage securitizations, said that aside from possible sanctions against Deutsche Bank in this foreclosure case, the results could have significant effect on Deutsche Bank's practices in general, and on its ability to foreclose on large numbers of homeowners in default.  The inquiry also could have an impact on other banks that act as trustees and mortgage loan servicers, if it establishes that the type of procedures used by Deutsche Bank were illegal.


NY Times January 28th, 2011...Deutsche Bank foreclosed on Sgt. James B. Hurley while serving with the National Guard in Iraq. While Sgt. James B. Hurley was away at war, he lost a heartbreaking battle at home. In violation of a law intended to protect active military personnel from creditors, agents of Deutsche Bank foreclosed on his small Michigan house, forcing Sergeant Hurley’s wife, Brandie, and her two young children to move out and find shelter elsewhere.



When the sergeant returned in December 2005, he drove past the densely wooded riverfront property outside Hartford, Mich. The peaceful little home was still there — winter birds still darted over the gazebo he had built near the water’s edge — but it almost certainly would never be his again. Less than two months before his return from the war, the bank’s agents sold the property to a buyer in Chicago for $76,000.


Deutsche Bank Foreclosure Processes Are As Bogus As Lending Practices That Fed The Housing Bubble, Deutsche Bank Main Financer Of Nazi Party.   Deutsche Bank’s Role in Mass Murder at Auschwitz; Hermann Abs, post-war Germany’s most powerful banker, had prospered in the Third Reich. Dapper, elegant and diplomatic, Abs joined the board of Deutsche Bank, Germany’s biggest bank, in 1937. As the Nazi empire expanded, Deutsche Bank enthusiastically ‘Aryanised’ Austrian and Czechoslovak banks that were owned by Jews.


Deutsche Bank Buys Up Mortgages Amid Foreclosure Crisis in Florida, Deutsche Bank Was Main Financer Of Nazi Party And Auschwitz Concentration CampHunger for Profit: The Deutsche Bank during the Third Reich in Germany finances gas chambers. 1933: The Nazis come to power in Germany, beginning the period of collaboration between Deutsche Bank and the Hitler regime; Jewish board members are ousted. 

Jan. 28, 2011, 12:08 p.m. EST, Deutsche Bank accepted and bundled ‘deficient’ loansMortgages rejected by due-diligence firm were lumped in, crisis panel says.  WASHINGTON (MarketWatch) — Big banks accepted substandard loans to package into securities during the buildup to the financial crisis, even though a due-diligence service they hired to examine the loans rejected many of them as “deficient,” according to a crisis fact-finding panel.
Florida Attorney General Pam Bondi’s Foreclosure Investigation Zeros In On the David J. Stern Law Firm And His Title Companys.  Attorney General Pam Bondi’s office has expanded its investigation of foreclosure law firms beyond false court documents and the so-called “robo-signers” who were producing them in huge volumes. Spokeswoman Jennifer Davis said, in response to questions from the Sun Sentinel, that the investigation is also focusing on allegations of misconduct by attorneys steering business to title companies owned by the principals in their law firms (David J. Stern), in addition to others who worked at the large law firms that formerly handled most of Florida’s foreclosure cases.

Pam Bondi’s predecessor Bill McCollum launched the investigation last year of four large foreclosure law firms – the law offices of David J. Stern, Shapiro & Fishman, Florida Default Law Group and the law offices of Marshall C. Watson. David J. Stern’s Plantation-based law firm, which launched a publicly traded company to handle back-office functions for foreclosure cases, has come under additional pressure as its major clients Fannie Mae and Freddie Mac pulled their business. Stern’s business subsequently laid off hundreds of employees, MORE FROM THIS SOURCE….



Bill Warner Private Investigator, SEX, CRIME, CHEATERS & TERRORISM