Monday, January 23, 2012

Bank Foreclosure Fraud - Exhibit XVII - Events Justifying Expletives: An Historical & Hysterical Perspective

In light of the gravity of this matter as The Worst Bank Foreclosure Fraud in U.S. History, a respite of relevant comical relief was in order when on January 29, 2010 :

Accordingly, the presentation reflected below was included as Exhibit XVII to the Jan. 29, 2010 Notice on mortgages that were:
You will note it is presented in a "countdown" format similar to David Letterman's Top Ten List, however, in this instance we recount the dozen historical events where the use of expletives has been justified:

When Was the Use of “@#$%” Justified?

Until recently, there were only twelve instances in the history of mankind where utterance of the "F" word was considered justified and appropriate.

They were also known as
The Dirty Dozen

Here they are, presented in chronological order . . .

12. "What do you @#$%ing mean it was just a silly little apple!" 

-- Adam, In the beginning . . .

11. "Scattered @#$%ing showers,
my ass!" 

-- Noah, 4314 BC

10. "How should I have @#$%ing known he could do something other than carpentry?" 

-- Pontius Pilate, 33 AD 

9. "You want WHAT
on the @#$%ing ceiling?" 

-- Michelangelo, 1566 

8. "Where did all these @#$%ing Indians come from?" 

-- General George A. Custer, 1877

7. "What the @#$% do you mean,
we’re sinking?" 

-- Capt. Edward J. Smith of RMS Titanic, 1912

6. "Where did all the @#$%ing buyers go to?!"

-- Richard Whitney, NYSE Floor Broker, 1929

5. "Where am I, and what the @#$% happened to all my fuel?"

--Amelia Earhart, 1937

4. "What the @#$% was that?" 

-- Mayor of Hiroshima, 1945 

3. "I need this parade like a @#$%ing hole in the head!"

-- JFK, 1963

2. "Aw c'mon. Who the @#$% is gonna to find out?"  

-- Bill Clinton, 1997

1. "Geez, I didn't think they'd get this @#$%ing mad!" 

-- Saddam Hussein, 2003

. . . and, NOW COMES a thirteenth event, whereby Paragon Commercial Bank, together with Poyner & Spruill, colluded on fraudulent mortgage loan defaults, and then aggressively pursued bogus foreclosures, while preventing the ability to defend against the baseless claims on loans with exemplary credit histories . . .

“How could you do something so deceitful and malicious, and cause unimaginable suffering and damages to me, my family and others? Seriously, what the @#$% is wrong with you !?!”

-- Spencer Young, 2009

Bank Foreclosure Fraud - Exhibit XIV - Fraudulent Eviction Notice & Deceitful Delivery Methods

The excerpt below is Exhibit XVI to the Jan. 29, 2010 Notice sent to Senior officials for North Carolina and the Federal government on mortgages that were:
It was written approximately two years ago.

Keep in mind, this instance of bank foreclosure fraud was carried out by Paragon Commercial Bank (and their attorneys, Poyner & Spruill) at the behest of Morgan Stanley (and their attorneys,Kirkland & Ellis) as a dastardly form of cover-up, so as  to deprive Mr. Young of resources and undermine his professional and personal credibility, so he could not viably pursue his now massive claims in the MorganStanleyGate scandal.

As noted herein, Paragon and Poyner & Spruill, followed through on the FRAUDULENT foreclosure sale of Mr. Young’s residence which he shares with his fiancĂ©e, Leah Krier and toddler son, Jackson Young. 
Spencer C. Young                   Jackson S. Young                          Leah R. Krier
 Mr. Young has made it clear the foreclosure is a FRAUD, and that he will NOT under any circumstances vacate the residence that he rightfully owns.  Accordingly, any foreclosure sale would be deemed a fraudulent conveyance and therefore null and void. This explains why their were NO bidders.

David Warren
The eviction notice dated Nov. 11, 2009 was issued by David Warren of Poyner & Spruill, on behalf of Paragon Commercial Bank further illustrates what MONSTERS they are.

 As noted below, they originally tried to render Mr. Young and his new young family homeless just BEFORE Thanksgiving; however, this notice was deliberately withheld so it wouldn't be delivered until AFTER their dastardly act of eviction was carried out [it was received on Dec. 2, 2009].

IMPORTANT:  Throughout this ordeal, Paragon Commercial Bank and Poyner & Spruill withheld notices to effectively eliminate Mr. Young's ability to thwart their CRIMINAL FRAUD, further evidencing a reprehensible level of deceit that appears to be pervasive throughout these organizations.  In other words, there is really no constructive legitimacy to these organizations.

Congress did NOT bail out the Banking industry so they could defraud and persecute the taxpayers who bailed them out, and the U.S. Judicial system was not established by our forefathers to be manipulated and gamed in the manner Poyner & Spruill regularly operates.

Bank Foreclosure Fraud - Exhibit XVI - Press Release: Indictment Filed Against Bank Execs & Attorneys

The excerpt below is from Exhibit XVI to the Jan. 29, 2010 Notice sent to Senior officials for North Carolina and the Federal government on mortgages that were:
  • ALWAYS paid before the monthly due date
  • NEVER delinquent
  • NEVER in default, and with regard to Spencer C. Young's residence in Chapel Hill, NC . . .
This Exhibit reflected the press release issued widely to national and local news media, and senior state, local and federal officials.


Raleigh, NC – Jan. 29, 2010 – A 31-count indictment based on extensive criminal fraud was filed today with North Carolina’s Department of Justice against executives at Paragon Commercial Bank and attorneys of Poyner & Spruill. Those named at Paragon, an upstart bank based in Raleigh, were CEO Robert C. Hatley, along with Martin Borden, Matthew C. Davis and James W. Hoose. Those included from Poyner & Spruill, a law firm also based in Raleigh, were Daniel G. Cahill and David M. Warren

The filing emphasized two themes: (1) “Congress did NOT bail out the Banking Industry so they could defraud and persecute the taxpayers who bailed them out”; and (2) “the corruption observed in this matter alone, suggests a threat to the integrity of the U.S. Justice System may exist.” Among the charges were: “deceitful banking practices”; “embezzlement”; “fraudulent defaults” “wrongful foreclosures”; “grand larceny”; and “intentional infliction of economic duress and emotional distress”. 

Spencer C. Young, a 53 year-old redeveloper and former banking executive, filed the complaint, pertaining to $5 million in loans from Paragon to his affiliated companies, and collateralized by properties whose redevelopment value is estimated at $20 million. Over 300 pages of evidence accompanied the filing, detailing an “assault [that is perhaps] the most brazen and malicious commercial mortgage fraud ever perpetrated by a bank”. 

Mr. Young described those indicted today as “monsters” motivated by greed to undertake actions intended to bring “destitution” to his extended family, long reliant on him for financial support. He added they deliberately sought to bring about “homelessness” to his family, including his: (1) 83-year-old mother with a heart condition; (2) ex-wife, stricken with pancreatic cancer; and (3) toddler son. Moreover, they “attempted to deny his ex-wife critical chemotherapy and radiation treatments”, and “force” his sons attending college (at Duke and Maryland) “to drop out”. He volunteered “family and friends have prevented such horrible manifestations to date; however, the authorities MUST NOW intervene” – warning, “otherwise there may also be loss of life”. Asked to explain, he quipped “read the indictment – it’s posted on”. 

Offering a further sobering observation, Mr. Young declared: “If U.S banks were allowed to foreclose uncontested and without consequence on mortgage loans that were NEVER delinquent – Mr. Obama could forget about his Jobs Bill, for no one would borrow, our economy would collapse, and our American government would follow suit . . . and that’s the heart of this matter.” Accordingly, the indictment was sent to “Distinguished Representatives of North Carolina” ranging from Governor Bev Perdue to the county Sheriffs, copying Federal officials, and U.S. Senate Committees on Banking; the Judiciary; and Finance. 

Even more disturbing, the indictment allegedly represents the “tip of the iceberg” of a “far more significant matter crossing state lines” and involving “banks bailed out with TARP monies, numerous prominent attorneys, and government officials who violated their oaths to serve and protect the public.” Today’s filing provided limited details as they were deemed “outside the scope” of the complaint; however, it was indicated the particulars would be made available shortly. 

Concerning next steps, Mr. Young said: “This marks the beginning of an unrelenting pursuit for justice encompassing: (1) prosecuting those responsible; (2) reclaiming the properties and monies stolen; (3) restitution for significant damages; (4) punitive compensation for anguish and suffering; and (5) regaining my dignity.” 

Mr. Young continued ”Today’s indictment illustrates how unbridled greed can shackle unsuspecting innocents with unimaginable pain and suffering. The time has come to prove the mightiness of truth, prevail decisively, and finally free my family from a nightmare of unrelenting torment.” 

About the Claimant 

After receiving his Bachelor of Science degree and MBA in Finance from Cornell University, Spencer C. Young embarked on a career spanning over two decades in corporate finance and banking, while concurrently investing in commercial real estate. 

Mr. Young obtained his CPA license while at Arthur Andersen & Co. and then held executive positions at firms recognized as leaders in their industries: Dun & Bradstreet (Business Information Services), Citicorp (Commercial Real Estate Lending), JPMorgan (Commercial Banking) and Morgan Stanley (Investment Banking). 

Of note, he: (1) served as Division Controller/Treasurer for Citicorp Real Estate; (2) founded the commercial mortgage backed securities (“CMBS”) business at JPMorgan; (3) was Chief Operating Officer of JPMorgan’s Commercial Mortgage Finance Unit; and (4) ran Morgan Stanley’s CMBS Conduit operation, which played a pivotal role in Morgan Stanley’s # 1 ranking in CMBS issuance for three consecutive years. 

Spencer C. Young also developed the IQ® (“Institutional Quality”) brand, arguably the most successful proprietary brand of CMBS – valued at $250 million when established, and considerably more thereafter. 

Mr. Young is a lifetime member of Mensa, and an active member of Intertel

Contact Information: 
Spencer C. Young Investments, Inc. 
134 Meadowmont Village Circle 
Chapel Hill, NC 27517 
(919) 370-7544 

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