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Fraudulent Coordination Among The Main Players In The Bankruptcy System

Homeowner or Debtor. Financial Institution : imposes foreclosure-aimed terms 1. forced placed home insurance 2. wrong higher rates 3. budget-busting escrow charges. Trustee :

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Fraudulent Coordination Among The Main Players In The Bankruptcy System

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  1. Homeowner or Debtor Financial Institution : imposes foreclosure-aimed terms 1. forced placed home insurance 2. wrong higher rates 3. budget-busting escrow charges Trustee : not appointed at random or Ch.# standing trustee The Judge: Approves all compensation applications regardless of 11usc330 “actual and necessary services or expenses Fraudulent Coordination Among The Main Players In The Bankruptcy System Professional persons: appointed under 11usc327 Attorney: Trustee’s own law firm • Auctioneer: • holds no auction or an insiders’ auction Appraiser: No-appraisal undervaluation Property management co.: secretly owned by Trustee & Auctioneer, e.g. in their minor’s names Other trustees, judges, friends &relatives Intra-sale: at loss for capital loss or at inflated price for money laundering Flip property on open market for quick gain Homeowner or Debtor: Squeezed dry in pincer movement http://Judicial-Discipline-Reform.org/Bkln_DA/DrRCordero-DACHynes_19apr10.pdf

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