Guyanese Found Guilty In $50 million mortgage fraud scheme In Florida

Thought most of this was over....

Jail dem Mudda Rass!!!!

Friggin bastard prey on their own like cannibals. Greed blinded these bastards. They should all get 30 each years plus one for leeching off their own.

Next will be Ed Ahmad.

I heard this Guy gas a castle in Florida and his wife is worst than Emelda Marcos!!!!!!!!!!!

Nehru posted:

I heard this Guy gas a castle in Florida and his wife is worst than Emelda Marcos!!!!!!!!!!!

wid all that money...I can imagine

Mitwah,

Do you know these Seecharans?????

'Kamla Seecharan, who pleaded guilty to conspiracy to commit wire fraud and mail fraud, was sentenced to 10 years and one month in prison and ordered to pay more than $2 million in restitution'

How did they come up with the one month?   Suckers preying on innocent people.

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

ED is Next!

Karma!

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

Attorney Baldeo did a similar stupidness, now he in the Paddock!

Nehru posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

The 80 straw buyers should go to jail also because they  knowingly misrepresent their names in this Fraud.  

ian posted:

Nehru posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

The 80 straw buyers should go to jail also because they  knowingly misrepresent their names in this Fraud.  

Banna you understand the straw buyers  got kick back by pretending they need the mortgage... right.  

ian posted:

ian posted:

Nehru posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

The 80 straw buyers should go to jail also because they  knowingly misrepresent their names in this Fraud.  

Banna you understand the straw buyers  got kick back by pretending they need the mortgage... right.  

A scheme orchestrated by the greedy monsters.

Vish M posted:

ED is Next!

 

Karma!

Karma because  he defrauded the banks or Karma because he orchestrated the cutting off of your Pony Tail?

ian posted:

ian posted:

Nehru posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

The 80 straw buyers should go to jail also because they  knowingly misrepresent their names in this Fraud.  

Banna you understand the straw buyers  got kick back by pretending they need the mortgage... right.  

I have to agree with Ian. The straw buyers need to be in jail as well.

Chief posted:

ian posted:

ian posted:

Nehru posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

The 80 straw buyers should go to jail also because they  knowingly misrepresent their names in this Fraud.  

Banna you understand the straw buyers  got kick back by pretending they need the mortgage... right.  

I have to agree with Ian. The straw buyers need to be in jail as well.

And Bhai you have all the right to agree with whoever you want.  I rather stick to my integrity.

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

ian posted:

Nehru posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

  

Bannas, You gun do the jail time for the 80 straw buyers???

The 80 straw buyers should go to jail also because they  knowingly misrepresent their names in this Fraud.  

I agree with you. They knowingly aided the frauds.

Demerara_Guy posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

Demerara Guy, who is the ordinary individuals. What you say doesn't make sense. 

ian posted:

Demerara_Guy posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

Demerara Guy, who is the ordinary individuals. What you say doesn't make sense. 

When "ordinary individuals" apply for a mortgage from the bank, they will be charged at a higher interest rate to offset the losses that banks write off due to frauds like this. Someone has to pay as you know that there is no such thing as a free lunch. That someone is the consumer/"ordinary individual".

skeldon_man posted:

Friggin bastard prey on their own like cannibals. Greed blinded these bastards. They should all get 30 each years plus one for leeching off their own.

You very selective 

Mars posted:

ian posted:

Demerara_Guy posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

Demerara Guy, who is the ordinary individuals. What you say doesn't make sense. 

When "ordinary individuals" apply for a mortgage from the bank, they will be charged at a higher interest rate to offset the losses that banks write off due to frauds like this. Someone has to pay as you know that there is no such thing as a free lunch. That someone is the consumer/"ordinary individual".

Are you kidding me !!! The bank charges interest rate against a individual base on the person credit ratings. 

I am sure the bank will have insurance to protect themselves. Either way, it's a business and when you loose, you never regain it.  

Bottom line -  the straw buyers and everyone involved should go to jail.  

warrior posted:

skeldon_man posted:

Friggin bastard prey on their own like cannibals. Greed blinded these bastards. They should all get 30 each years plus one for leeching off their own.

You very selective 

I am sure Skelly meant Guyanese.  

ian posted:

Demerara_Guy posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

Demerara Guy, who is the ordinary individuals. What you say doesn't make sense. 

"Straw buyers" .... their transactions always involve putting up actual money for the project(s) to move forward. When these situations come to this stage or remain "blinded", losses always occur.

ian posted:

Mars posted:

ian posted:

Demerara_Guy posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

Demerara Guy, who is the ordinary individuals. What you say doesn't make sense. 

When "ordinary individuals" apply for a mortgage from the bank, they will be charged at a higher interest rate to offset the losses that banks write off due to frauds like this. Someone has to pay as you know that there is no such thing as a free lunch. That someone is the consumer/"ordinary individual".

Are you kidding me !!! The bank charges interest rate against a individual base on the person credit ratings. 

I am sure the bank will have insurance to protect themselves. Either way, it's a business and when you loose, you never regain it.  

Bottom line -  the straw buyers and everyone involved should go to jail.  

Yes, the bank charges interest rates based on your credit score. They also have to set aside reserves to pay for bad loans and fraud. Where do you think these reserves come from? They are passed on to the consumer. So in the ideal world, if there were no default on loans or fraud, the bank would charge a consumer, let's say 4.00% interest on his mortgage. In order to fund reserves for loans in default, fraud, and other losses they have to write off, the bank will now charge the same consumer 4.50% interest on his mortgage. So the consumer ends up paying for fraud, losses due to default, bankruptcies, etc. The bank might have insurance to pay for these losses but who do you think pays the premiums? They are passed on to the consumer.

Mars posted:

ian posted:

Demerara_Guy posted:

ian posted:

Do you guys understand its the financial institution that got ripped of and not individuals . The 80 straw buys got kick back.

While it may appear so, the eventual looser in these operations is the numerous ordinary individuals.

Demerara Guy, who is the ordinary individuals. What you say doesn't make sense. 

When "ordinary individuals" apply for a mortgage from the bank, they will be charged at a higher interest rate to offset the losses that banks write off due to frauds like this. Someone has to pay as you know that there is no such thing as a free lunch. That someone is the consumer/"ordinary individual".

The bigger banks usually set aside a reserve - 'allowance for loan losses'..that number is an estimate, mostly based on market conditions and trend analysis..the players who usually pass on that to the customer end up going out of business may a time..

Guyanese "scampishness" to the max.  Just like the PPP!!!!! 

FC posted:

Guyanese "scampishness" to the max.  Just like the PPP!!!!! 

You Shame To Acknowledge You Family. 

warrior posted:

skeldon_man posted:

Friggin bastard prey on their own like cannibals. Greed blinded these bastards. They should all get 30 each years plus one for leeching off their own.

You very selective 

Jail dem cannibals. Send dem to the electric chair.