Marshall C. Watson | Florida Attorney General Pam Bondi Settles Investigation Against One of Florida’s Largest Foreclosure Firms

4closureFraud's picture

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MrBoompi's picture

This agreement is a fucking joke. Want proof we live in a banana republic? Read the goddamn papers.

How many people were illegally foreclosed upon? Did you see anything about them? Where are their damages?

Did you see who gets the two "fines"? The State of Florida, Office of AG, get a million bucks, and the other million is a "donation" to the Florida Bar Association.

Give me a fucking break. Look for more bullshit settlements just like this one, where douchebags admit no wrongdoing, pay off fellow laywers, and keep their licenses.

And I'd like to know how much money these people made from their foreclosure practices. Chances are, it's another situation just like Mozillo's.

Boxed Merlot's picture

Construction of Agreement

9.1 “It is further agreed that the parties jointly participated in the negotiation of the terms of this Assurance. No provision of this Assurance shall be construed for, or against any party, on the grounds that one party had more control over establishing the terms of this Assurance, than another.”

We sure wouldn't want to think a state's AG would actually have anything other than a conjugal relationship with a scofflaw now would we?

The offspring of this affair should rightfully be named "Injustice", and will be the cause of many embittered citizens whose lives, fortunes and futures have been disregarded as irrelevant in the hopes of speedily concealing known breaches of trust for personal gain.

imo.

Bitch Tits's picture

I can vouch for the fact that Florida is THE most corrupt state in the Union, with the possible exception being Iowa.

Both states are swamplands, only one doesn't know it.

aerial view's picture

This is a joke and total travesty of justice. This crook has a $9.8 million dollar home in Ft. Lauderdale! If I were the DA, the settlement would have allowed all those who were illegally foreclosed on to now live in Mr. Marshall's palace!

Ruffcut's picture

Fraudulent activity has "recovered" nicely.

Wondered where the recovery was.

savagegoose's picture

lol 2 mill whats that 1/10th of the ceo's bonus?

earnulf's picture

I have to agree that the fine and "voluntary" acceptance by the firm are a joke and a travesty of the AG's office.    How much has the AG spent on "investigating" this firm compared to what was recovered?    Not only did the firm get a touch on the wrist, the Taxpayers were screwed by an AG that spent taxpayer money to accomplish this feat!

Apparently it is more important to keep the firm open and it's employees with jobs than to actually dispense justice.   Another SPIN doctor with rose colored glasses and a overly hyped opinion of herself and the "job" she thinks she is doing.

OutLookingIn's picture

 

 This is a joke. A sad, cruel joke. The fine? A slap on the wrist.

Half the 2 million bucks goes back to lawyers?

No deals. Prosecute, fine and incarcerate. Period. Take away bar status. Disbar crooked lawyers and law firms. Make the rest walk on egg shells!

The only way to return "honesty" to the system. At the moment it's still rotten to the core.  

MachoMan's picture

The above settlement does not prohibit the state bar from also making its own sanctions.....  including requiring fancy pants to hang up the spurs (which should probably happen to all the foreclosure mills).

PS, generally speaking, disbarment is a pretty difficult achievement...  especially where the attorney(s) in question zealously defended/prosecuted their client(s)' interests.

SwingForce's picture

Condo prices are so low, in some places lower than when they were built 25 years ago. At what point to the banks stop foreclosure simply because they don't want to add to their deflating inventory of REOs? Not to mention the legal costs of paying associations back fees of 1%

beastie's picture

4closurefraud,

In case you missed this as I didn't see it on your site. The JP Morgue was forced into a more generous settlement in Massachusetts 

http://screwtapefiles.blogspot.com/2011/03/fun-facts-about-jpm-and-their...

Bunch of links within the article with exact details of the numerous frauds perpetrated. For anyone trying to explain what the Morgue etc have been up to and numerous ways they screwed everyone they touched it's all in the settlement doc. 

 

Fernley Girl's picture

As long as a bunch of fat cat lawyers and banks can donate more to a political campaign than Joe & Jane Doe, no one will ever see any justice from foreclosure fraud.  NO criminal charges?  Voluntary compliance?  State-sanctioned license to steal.  Did anyone really expect a different result?

lamont cranston's picture

Willful fraud without jail time is ludicrous. How many were screwed out of their homes? Am willing to bet that the $2MM was drop in the bucket. I ran through the document quickly - did Watson get disbarred?

Perhaps Florida should change its name to Fraudida, The Sunset of Meaningful Prosecutions State.

MachoMan's picture

I'm willing to bet an incredibly small number were screwed out of their homes...  about the only scenario I would consider someone being screwed out of their home in this case would be if they were not in default at the time of the foreclosure...  in which case, if true, should warrant punitives of biblical proportions.  (even though there has already been a judicial cap imposed for due process reasons).

Mercury's picture

I'd be willing to bet that when it comes to Florida real estate there really aren't any completely innocent parties.

What I do no with full certainty is that Pam Bondi is the hottest AG in the country:

http://media.marconews.com/media/img/photos/2010/11/03/SP_330092_ZUPP_Bondi_4_t607.jpg

MrBoompi's picture

Sorry, wouldn't pay $1M to hit that.

Zero Govt's picture

so the Attorney General has accepted a $2m pay-off (bribe) from a firm of fraudsters to her own AG office and Bar Association....you really couldn't get more fuking out in the open 'in your face' corrupt than this if you tried

at least we know how corruption works, the legal system/machine eats money to keep its mouth shut ...all is well, all is crystal clear

 

Seasmoke's picture

she is really quite disgusting , if you look closely

Bastiat's picture

Does this establish facts for a slam dunk class action, at least?

Rogerwilco's picture

LOL, class action = wealthy lawyers.

Bastiat's picture

And busted defendants.  It's a question of how deep the pockets are--deep enough to pay the plaintiffs after the lawyers get paid?  Just looking for upside. It is a travesty and a totally agree with the poster below who said disbarment and jail would be the appropriate outcome--not the Wall St. resolution of disgorging some minority percent of fraud profits.