California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud.

15
Mar

Lawsuit Alleges Fraud by Westlake Village Attorney and Business Partner

A lawsuit filed by a Westlake Village attorney against another Westlake Village attorney and his Agoura Hills partner alleges the two men perpetrated a multi-state real estate loan scam.

Attorney Anne Singer is representing Gerard Kennedy, who paid 27 year old Nicolaus Skultety, owner of the now defunct American Paramount Financial, and his attorney Lloyd Michaelson of Lloyd Michaelson Law Offices a $300,000 deposit in order to obtain a $15 million loan that never materialized. Kennedy, owner of the Virginia-based Attiva Corporation, Inc. lost his deposit. Kennedy’s lawsuit charges Skultety and Michaelson  with fraud, breach of contract and negligent representation.

According to an article in the Acorn, Skultety and Michaelson are accused of promising clients they could obtain funding for land and construction projects – considered risk investments – in exchange for “a percentage of the loan amount, generally a 2% cut.” The cash fees were paid through Skultety’s firm but the loans were never made.

Interestingly, Singer read on a blog that Michaelson and Skultety had allegedly defrauded many victims and reported them to the FBI and other federal agencies. “I’m willing to put money down that (Skultety and Michaelson) will be indicted,” Singer said.

Read the original article in the Thousand Oaks Acorn.

© Copyright 2007-2017 Monique Bryher

Legal Disclaimer.

The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.

BLOG POWERED BY SHARP BIZ IMAGE

Copy Protected by Chetan's WP-Copyprotect.