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State v. Mr. D (DMC No. 8662)

NOT CHARGED | FRADULENT SCHEMES/MORTGAGE FRAUD ($289,000) FORGERY – State v. Mr. D. (DMC No. 8662) (Private Law Firm Investigated): Mr. D. owned an investment company and had Power of Attorney for a client that he had been friends with for approximately 7 years.  The client was out of the country and had Mr. D. sign off for the client on various home loan documents.  Unfortunately, Mr. D. signed the client’s name itself, instead of signing his name as Power of Attorney.  When the housing market turned, the client attempted to back out of all his loans by claiming that he had no knowledge that Mr. D. had signed the documents on his behalf (even though his wife and children all lived inside the house).  A private law firm became involved and threatened ligation and criminal prosecution.  We were able to point out that the alleged victim’s claims were ridiculous because he lived in the house and would have obviously known that financial documents would have been signed and that a transaction took place.  Even though the house went into foreclosure and there was over $289,000 in loses, no criminal prosecution was brought and all civil lawsuits were shut down.

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