Tuesday, April 12, 2011
Orion Bank Ex-Executive Jerry Williams Steep Fall Result of Sarasota Commercial Real Estate Scammer Neil Mohamed Husani.
According to a 44-page Federal indictment, between May 2004 and June 2006, commercial real estate scammer Neil Mohamed Husani aka Nail Husani defrauded Orion Bank, Mercantile Bank, Bank Atlantic, Coast Bank, Fifth/Third Bank, Wachovia Bank and First State Bank out of $82.8 Million.
Orion Bank of Naples run by CEO Jerry J. Williams was easy pickings for commercial real estate scammer Neil Mohamed Husani, they were primmed to make the 'big deal". Orion Bank of Naples had 4 banks in the Sarasota-Bradenton Fl area.
During Florida's real estate run-up, Orion Bank aggressively grew its commercial real estate and acquisition, development and construction lending. In 2007, Orion Bank lost $6.09 million, but issued $28 million in dividends. As the largest shareholder, CEO Jerry J. Williams received the bulk.
Orion Bank aggressively tried to get back some of the millions scammed by Neil Husani and his crew, they sued in Sarasota county court and obtained a Judgment for $14,339,738.00, but what the hell, there is no one to collect from, Neil Husani took the majority of the cash and headed to Amman Jordan.
2007 CA 001324 NC 582007CA0013240000NC
Plaintiff Name..ORION BANK VS.
Defendant Name..G & T LAND DEVELOPMENT LLC, MICHAEL A TRINGALI, CAPITAL FORCE INC (Neil Husani), 2/7/2007 Mortgage Foreclosure - Circuit.
Final Judgment for $14,339,738.00.
CAPITAL FORCE, INC. as of 09/25/2009, INACTIVE.
Name & Address
3302 CHARLES MACDONALD DRIVE
SARASOTA FL 34240
From inception July 31st, 2003 to March 14th, 2006 Carlos Graterol was the vice president of CAPITAL FORCE, INC. Carlos Graterol, Neil Husani and Star Allen are all linked (at varioue times) to an address on Monte Verde in Villa Mirada Sarasota Fl 34238 from at least 2003 to 2006.
CAPITAL FORCE, INC aka Neil Husani sold the property at Monte Verde in Villa Mirada Sarasota Fl to Carlos Graterol in December 2003. From at least 2003, Carlos Graterol and Neil Husani are linked to the address of 2 Tamiami Trl unit #303 Sarasota Fl the address of attorney JOHN YANCHEK.
August 12, 2005 Real Estate Briefs (Sara/Mana);
Developer buys out East for new home community.
BUYER: Capital Force Inc. (principals Neil Hussani and Carlos Graterol), Sarasota
SELLER: Cloverdale 4 LLC
Price: $15.61 million
BUYER: Lake Verna LLC, (principal Albert Myara) Lakewood Ranch
SELLER: Capital Force Inc.
PROPERTY: 28200 S.R. 70 E., Myakka City
Price: $19.8 million
Previous Price (to both transactions): $1.64 million, Jan. 2001, principals Neil Hussani and Carlos Graterol appear to have made over $18 million on this deal of unimproved Myakka City land in August 2005.
Neil Hussani as Capital Force Inc. borrowed a total of $14,500,000.00 in CASH from Orion Bank in 2005 to purchase the 289 acres as seen above on Dog Kennel Rd in Myakka City then turned around in a few days and sold it, they made a killing on "unimproved dirt".
SARASOTA HERALD TRIBUNE, April 23, 2006 ..FBI investigation targets Neil Husani, Partners and business associates say the Venezuela-born (see his passport above) real estate investor has not been returning their calls. The name Carlos Graterol, one of Husani's long-term business partners, also has been removed from corporate registration statements that Husani filed with state government.
Five former Orion employees filed a class-action lawsuit last year against CEO Jerry J. Williams and Orion's former board seeking to recover $33.6 million in losses from 280 employees' investments in Orion's 401(k) plan, which had 96 percent of its assets invested in bank stock
The lawsuit contends that from 2006 until Orion failed, Williams and the board knew Orion's stock was "substantially overvalued." "While Orion may outwardly appear as just another banking casualty of the prolonged global recession, in actuality the bank — and in particular its employees and stockholders — fell victim to an egregious display of hubris, greed and duplicity," attorney Christopher S. Jones said.
Bill Warner Private Investigator, SEX, CRIME, CHEATERS & TERRORISM