Friday, January 20, 2012

Bank Foreclosure Fraud - Exhibit IX - Greed-Laden Incentives To Unethical Law Firm, Poyner & Spruill

The below letter from Jim Hoose of Paragon Commercial Bank indicates David Warren and Dan Cahill of Poyner & Spruill were to be paid a minimum $765,000 (1) [$5.1 million aggregate loan balance x 15%] for their illicit work in the noted criminal fraud. In other words, they want their victim (Spencer C. Young) to pay criminals a completely baseless fee as compensation for carrying out their fraud against him. 

Jim Hoose                       David Warren                           Dan Cahill

Not only is this unreasonable – it is preposterous, outlandish and an outrage– they are to receive nothing – they are criminals, plain and simple. Keep in mind this pertains to mortgage loans that were:
  • ALWAYS paid before the monthly due date
  • NEVER delinquent
  • NEVER in default, and in the case of Mr. Young's residence . . . 
It is critically important that these reprehensible excuses for human beings be sent off to the hoosegow. 

Importantly, they have exposed Poyner & Spruill to significant liability exposure for the damages they have played an instrumental role in causing.  This is especially the case, for when the management committee of Poyner & Spruill was apprised of the misdeeds, they took no action, thereby endorsing the illegal activities. 

(1)  This does NOT take into account the other bogus charges for late fees, default interest, etc

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