PROJECT A-3: Foreclosure Fraud-Related Claims Against Paragon Commercial Bank

About This Project

Significance: If U.S. Banks were allowed to fraudulently foreclose UNCONTESTED (by denying legal representation) on mortgages that were: (1) NEVER late; (2) NOT delinquent; and in one case, (3) PAID-IN-FULL, and then be allowed to wantonly throw families out on the street, the consequences would be dire.

Criminal Indictments Filed:  Fraud, racketeering, sabotage, corruption, grand larceny, defamation, assault, and attempted murder

Civil Claims:  Compensatory damages, punitive damages, special damages, speculative damages and general damages for pain-suffering-and-loss-of-amenity, including loss of companionship, loss of reputation, loss of consortium and loss of enjoyment of life 

Estimated Claim Amount: $200 million +  Note: Awards or settlement amounts received in excess of net worth prior to this fraud, will fund a charitable foundation whose mandate will be (among other things) to support and protect others victimized by bank foreclosure fraud.

Pertaining to:  The fraudulent foreclosures of The Pit Stop of Durham, Meadowmont Village Condo of Chapel Hill and land parcels associated with The Courtyard of Chapel Hill , as well as associated instances of fraud, racketeering, sabotage, corruption, grand larceny, defamation, assault, and attempted murder.

Those to be named as defendants include:

1. Paragon Commercial Bank -- Those to be specifically named include the banking institution, its board of directors (joint & severally), CEO Robert C. Hatley, Senior Vice President James W. Hoose, Chief Credit Officer Matthew Davis, and Senior Vice President Martin C. Borden, and Senior Vice President Michael Story.
2. Poyner & Spruill -- Those to be named include the law firm, the management committee (jointly & severally), and attorneys David M. Warren and Daniel Cahill
3. Orange County -- Those contemplated to be named are: Lindy Pendergrass -- Sheriff of Orange County; Charles Blackwood - Major/Deputy Sheriff of Orange County; J.C. Clayton - Deputy Sheriff of Orange County; James Stanford - Court Clerk for Orange County; and Gregory Stephens - Magistrate for Orange County.
4. The Town of Chapel Hill -- Those contemplated to be named include: Maggie Bowers - Staff Employee for The Town of Chapel Hill; Kevin Foy - Former Mayor of the Town of Chapel Hill; Terri Gail - In-house Attorney for the Chapel Hill Police Department; Ralph Karpinos - Town Attorney for The Town of Chapel Hill; Gene Poveromo - Planning Dept. Staff Member for The Town of Chapel Hill; Roger Stancil - Town Manager for The Town of Chapel Hill; Bill Strom - Former Mayor Pro Tem of The Town of Chapel Hill; and other select members of the Chapel Hill Town Council, based on the findings of criminal investigations.

Evidence supporting these claims can be accessed at these hyper-links:

• The 20 Elements of  Fraud Involved
• Details on the 31 count indictment filed with the NC Dept. of Justice
• The relevant facts concerning the wrongful eviction 

Project Objectives

1. Civil Claims -- Prosecute civil claims against the contemplated defendants noted above, and obtain award or settlement for $50 million +
2. Criminal Investigations -- finesse commencement by the FBI and SBI
3. Regulatory Investigations -- instigate investigations by the FDIC and the North Carolina Banking Commission