Tuesday, September 13, 2011

ARGENT Mortgage - Cleveland Criminal Trial - Jan 9 2012

   MAIN EVENT (Settlement Date?): Monday January 9th, 2012
                                                   TIME:     9:00am
                                                       CRIMINAL "Heavyweight" Fight
                                                       WALL STREET  vs  MAIN STREET
                                                    (Argent Mortgage) vs (Homeowners)

All 13 received Continuances on 11/14/11 for settlement attempts on-going Discovery
The "lucky 13" previously received Continuances on 9/15/11 for on-going Discovery* 
                  *(the Prosecutor was in another court case....and could not attend)Original Art & Graphics provided by PETE GRAFF

                                       "Destruction by Predatory Loans"
Read the true story of how Argent Mortgage ruined an American City in only 3 years !!

OHIO says enough !! - 9 Indicted from ARGENT MORTGAGE

"There was blood on the streets of Cuyahoga County. But it wasn't until there was blood on the streets of Wall Street that anyone cared."
Jim Rokakis - Cuyahogo County Treasure)

'This is going to become an epidemic,' and they sat on their hands. For whatever reason, they didn't act. But if you were looking, the handwriting was on the wall. If you were looking, it was obvious something was wrong."
(Tony Stevenson, a staff attorney with Housing Advocates Inc. in Cleveland)

"All the regulators knew what was going on. Regulators allowed loose lending to keep the economy going."
(Raj Aggarwal, dean of the College of Business Administration at the University of Akron

*All 13 named defendants appeared at pre-trial hearings (July 11th - July 13th). All posted bond and were released per a CONTINUANCE request, of 6 weeks, to complete Discovery. The request was granted and the PRE-TRIAL hearing(s) are scheduled to begin at 9:00am on Thursday August 25th 2011.* Read 68 Page INDICTMENT (HERE)
                           James Sims    Karen Harris     Linda Warner   Gerald Spuzzillo
James "aka Jessie" Sims - Mortgage Broker - Bond set at $ 2,500
Karen Harris - Defendant - Bond - $ 5,000
Linda Warner - Ohio Appraiser - Bond - $ 5,000
Gerald Spuzzillo -Ohio Appraiser -  Bond - $ 2,500
Linda Warner and Gerald Spuzzillo - Ohio Appraisers, were indicted for falsifying appraisals on real estate deals submitted to both Argent and Long Beach Mortgage
Read: Spuzzillo Appraisal Company (GJS) inflated Property values (HERE 7-29-2006)
James Sims - allegedly an OHIO Mortgage Broker is facing multiple counts including Complicity, Aggravated Theft, and Tampering with Records
Karen Harris - is also named in the indictment and faces charges of Engaging in a pattern of corrupt activity, and property forfeiture

                               "ARGENT  9"
                       STEINKUEHLER      PORTER          SCOLA           FORBES
Gerald Steinkuehler - Argent Supervisor - Bond - $ 5,000
Kirk Porter - Argent Underwriter - Bond - $ 2,500
Michael Scola - Argent Account Manager - Bond - $10,000
Terry Forbes - Argent Supervisor - Bond - $ 2,500

                        PASTERNAK      MONGRIOTIS          SHAW           KOBUS
Angela Pasternak - Argent Account Manager -  Bond - $ 2,500
David Mongriotis - Argent Underwriter - Bond - $ 2,500
Deeanne Shaw - Argent Underwriter - Bond - $ 2,500
Denise (O'Brock) Kobus - Argent Account Manager - Bond - $10,000

Erin Foley (Ottaviano) - Argent Underwriter - Bond set at $ 2,500

"[This is] the first time in Ohio and...few instances nationwide that a mortgage fraud investigation has led to CRIMINAL CHARGES against [Argent Mortgage] employees {and} of a sub prime lender. The securitization and selling of these fraudulent, sub prime loans to Wall Street typified the rampant greed of the industry that ultimately led to the financial crisis " said Cuyahoga County prosecutor, Bill Mason

WE WERE WARNED !!  EARLY ON..... Yet - No one did a thing!!!

City's Housing glut allows Mortgage FRAUD to thrive 7-29-2006 - Mark Gillispie

As Decade Dawned signs of Crisis:   9-28-2008 - Roger Mezger

"Argent Mortgage - They ran it like a Boiler Room"  2-4-2005 - L.A. Times
Argent & Ameriquest customers filed more complaints with the Federal Trade Commission (FTC) from 2000 through 2004 than did those of two of its biggest competitors combined

* Information for this story and related postings are taken from public record(s), arrest record(s) and/or unsealed indictment. The named defendants appearing on this blog HAVE NOT been convicted (only arrested).  All are presumed innocent. Do not rely on this blog to make any determination as to any person's actual criminal involvement or criminal record. Opinions and commentary expressed, if any, are solely those of the blog author and have no legal weight or bearing in this or any related case(s). The booking mug shots appear courtesy of bustedmugshot.com, Cuyahoga County Jail or mugshotsonline.com

1 comment:

  1. Hey, maybe we should look at ground zero for all of this subprime mess. Argent Mortgage in Orange, Ca. made a huge mess out of Northern Ca. as well as the rest of the country. Look what's happening in Ohio. Ohio said "enough is enough" and indicted 11 argent upper level managers for coaching brkers on how to circumvent and push through questionable borrowers into loans, which were dumped on wall street. Angela Pasternak: upper level sales manager hit with 59 felony counts. ITS ABOUT TIME THEY NAIL THESE CRIMINALS!! Here's someone else they should indict: Wayne Lee-ex ceo of Argent. Get this: He walked away from Argent with 34.5 million dollars that was disquised as a "Consulting agreement." What a crock! He's been sued in Illinois for the return of his ill gotten gains. He lives the high life in Laguna Hills, Ca. He buys houses in Las Vegas, expensive high-end cars, etc. with this wonderful 34 mil going away present and nobody does anything about it. It's time to publicize these crooks and expose them for who they really are. They are no better than bank robbers. Instead of a gun, they used a pen. Same difference. The lower tier Ex Argent employees better watch out. The feds will get to them and work there way up the filthy chain. Wayne Lee, you time has come. If you think you got away with this, think again.
    Here is a link to the O.C Register article about Lee and others: