Sunday, October 23, 2011

Money Trail In Sarasota Property Flips Leads to Mortgage Bankers Who Helped Street Hustlers Like Rich Bobka, R. Craig Adams and Neil Husani

"Sarasota Fl the Mortgage Fraud Capital of the USA". The Sarasota Scammers Saga Continues with inside help provided by Mortgage Bankers for real estate street hustlers like Rich Bobka, R. Craig Adams and Neil Husani, their photos above.

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 Mortgage Bankers at 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 where he is now living the high life and "laughing all the way to the bank" and thumbing his nose at the FBI.

 FBI most wanted flipper Neil Husani was part of a group of real estate speculators in 2003 made up of  Michael Tringali, Larry P. Nardelli and closing attorney John Yanchek. That's evident from a lawsuit filed in circuit court in Sarasota County in 2005 by Mary Jane Smith.

The suit says that Smith, who owned a beachfront home on Siesta Key, was befriended by one of Husani's associates, John D. Burke, in July 2003.The couple started a romantic relationship, and it wasn't long before Burke convinced her to sell her home, buy a new one and move in together, the suit says. Burke handled all the transactions. He sold Smith's Siesta Key house for $975,000, bought another in Silver Oaks Estates for $750,000 and put it under his name. Smith said she never saw a penny.
"As part of the closing, Burke's business associate -- Mr. Husani -- was for some reason paid $18,922. But Smith doesn't know what for," the suit says. Attorney John Yanchek and Stephanie Arnett were the two who "witnessed" the transaction. Less than a year later, Burke resold the home for $1.25 million. He then bought a house at 412 Pheasant Way on Bird Key from Husani for $875,000. It was a lucrative deal for Husani, who had bought the house the same day for $520,000.

SARASOTA October 23rd, 2011 - When Craig Adams, Rich Bobka and their associates needed fresh loans to keep their fraudulent property flipping scheme going, they had a friend on the inside. Former Washington Mutual loan officer Craig Whitehead pleaded guilty last month after federal officials charged him with wire fraud and conspiring with Adams and Bobka to provide lenders false information to get loans. 

Seventy other lending institutions — some employing executives with close ties to Adams, Bobka and others facing federal charges — provided the group with more than $300 million in loans, according to a Herald-Tribune review of more than 600 loans. Some of the bankers involved still hold key positions at local banks and are considered prominent members of the community. The Whitehead indictment raises the possibility that these individuals will face scrutiny from federal authorities in one of the largest cases of mortgage fraud in Southwest Florida history.

Law enforcement officials have contacted Sarasota mortgage banker Mark Leetzow, who referred requests for comment to his Sarasota criminal defense attorney, Stephen Walker.  Mark Leetzow previously worked at Countrywide and National City, two of the top lenders to the Adams-Bobka group, according to the Herald-Tribune's review.

To determine which banks and bankers might be questioned by federal investigators, the Herald-Tribune looked at 601 mortgages totaling $322 million provided to Adams, Bobka and their associates between 1997 and 2007. While some of those loans are likely legitimate, the list included nearly 100 that federal authorities say are fraudulent in court documents.  The indictment against Whitehead also mentions similar fraud involving Countrywide, even though Whitehead worked for Washington Mutual.
Mark Leetzow Banking Advisor at PNC Wealth Management.  Vice President/Banking Advisor PNC Wealth Management. Public Company; PNC; Financial Services industry. Since December 2007 – Present (3 years 11 months).

Thursday, January 11, 2007 LAKEWOOD RANCH -- National City Mortgage has promoted Mark W. Leetzow to district manager Leetzow joined the company as sales manager for its Sarasota branch, 6901 Professional Parkway E., in Lakewood Ranch. He now will be responsible for the Sarasota and Venice branches and Americo Mortgage, a mortgage partnership with a real estate brokerage company. National City Mortgage, a division of National City Bank, has opened 25 branches in Florida in the past year and specializes in residential mortgage lending and construction permanent financing.
National City Mortgage withdrew it's company name from the Florida Division of Corporations in May of 2007.

Foreign Profit Corporation
Filing Information
Document Number F05000002341
FEI/EIN Number 310856949
Date Filed 04/15/2005
State OH
Event Date Filed 05/18/2007
Event Effective Date NONE

William Budd Moore, a longtime associate of Adams dating back to their days at Riverview High, helped Adams, Bobka and their associates get loans while at his own mortgage company, Moore Mortgage Group. He was later employed as a regional manager by Countrywide and National City. Mark Leetzow, Moore's onetime top assistant, followed Moore to Countrywide and National City.

Linda Martin McConnell, a former Countrywide branch manager, said Mark Leetzow was close to Bobka and other indicted members of Bobka's family. She said he was also friends with Jonathan Glucker, who was indicted in February and has pleaded guilty to being part of the conspiracy.

The Herald-Tribune identified roughly 27 Countrywide loans totaling $14.3 million given to the Adams-Bobka group while Moore and Mark Leetzow were with the company. The FBI has called more than half of them fraudulent in court documents.

After Moore and Mark Leetzow left Countrywide in early 2006, they went to work at National City Bank where Adams, Bobka and their associates received 16 loans totaling $7.3 million over the next 16 months. Before the arrival of Moore and Mark Leetzow, National City had only provided six loans to the group, totaling $1.3 million. One of the National City loans is tied to a property that became a key piece of the FBI's criminal case against the group.

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