A fellow real estate blogger and investor Nigel Swaby has a friend who is a federal agent:
… He’s a forensic accountant by trade, but don’t let that title fool you. My friend is an avid outdoors man whose weaponry skills are utilized strongly by our government. He’s also the guy that conducts interrogations of bad guys. With the evidence he’s researched at hand, he’ll go into that interrogation room and drop the bomb on suspected crime ringleaders. Though unassuming to look at, I would never want to mess with this friend of mine. He has no sympathy for bad guys.
Knowing what his job and background is, I ran the Casey Serin scenario by him to see what the likelihood of a criminal investigation would be…
I encourage you to read more on what the federal agent said about my mortgage fraud and likelyhood of jail time.
My stance on my mortgage fraud has gone back and forth between admitting and rationalization and it’s really a little of both.
YES, I overstated my income, misrepresented owner occupancy intent and concealed the cash-back from the lenders.
NO, I didn’t inflate any values or am aware of any false appraisals.
NO, I was not a “straw buyer” for somebody. I was acting solo simply trying to get into the fix-n-flip business and maximize my buying opportunities.
NO, I didn’t know I was commiting fraud with my “liar loans”. I just thought it was “gray area” based on the advice I have been given and how common and acceptable this behavior is in the industry.
YES, I realize ignorance of the law is not a defense.
NO, I don’t blame anybody but myself. I am not out to bring people down with me.
NO, I am not denying, hiding or running but instead standing up for what I have done and sharing openly in order to provide an example of what NOT to do.
YES, I had full intent to repay all those loans but because of my inexperience I got overleveraged and ran out of money.
YES, I am still trying to find a way to payback all those loans or settle for as much as I can via short sales, etc.
YES, I believe I am making a difference in the industry by talking about my mistakes. My goal is to show other wanna-be RE moguls, agents, loan officers, etc, the consequences of reckless behavior.
Look guys…
I was speeding and crashed my car. Now I am talking about my crash so that maybe others will slow down a bit.
Furthermore, I have a new respect for the speed limit and traffic laws.
So the question is…
With the troubles I have already experienced and the good I am trying to do via my story…
With my credit ruined, my reputation tarnished, my behavior sharply criticized, my past dug up and exaggerated, myself and my associates verbally abused, and even my family being stocked stalked.
Notwithstanding that some of you can’t stand my care-free personality, my preference for self-employment and occasional Jamba Juice outings..
With all that…
WHY do so many of you think I still deserve to go to jail??
Come on guys. I tried to get into business and started off on the wrong foot. I am no criminal.
I am just trying to do the right thing now and educate others through my experience.
Why all this hate?
Have you made up your mind or are you finally going to approve of me when I find a way to payback/settle all my loans later this year?
Note: I apologize for the comments being disabled. It was an administrative snafu.
178 Comments
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You’re taking advice from a guy who is a sniper/interrogator by night and a mild-mannered accountant by day? Figures. Just so you know - if Nigel’s friend is REALLY doing that then he’ll and his agency will be in a world of hurt for violating several federal regulations on who can use weapons and conduct interrogations.
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You actually believe that crap, Casey? You’re grasping at straws, once again….
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Imagine your sitting on the jury at the Casey Serin trial, the prosecutor brings out hundreds of pages of transcript of this blog. Things like “YES, I overstated my income, misrepresented owner occupancy intent and concealed the cash-back from the lenders.” and “NO, I didn’t know I was commiting fraud with my “liar loans”. I just thought it was “gray area” based on the advice I have been given and how common and acceptable this behavior is in the industry.”
Statements like these are plastered all over your blog.
Remember Kenneth Lay, he thought he was in a gray area. How about the family that controlled Adelphia, they’re all in jail because they took cash out. They thought this was common and acceptable.
While there are some haters here, there are a lot more readers who work hard every day, maintain a reasonable standard of living and never have the need to cheat anyone out of anything.
As you are finding out, it’s a long, long way to the bottom. -
Presumably Nigel won’t identify this guy because he’d have to kill us afterwards?
Call me a dullard, but I’d prefer to take advice from real, identifiable people with checkable reputations. Especially if the raw sewage I’ve fallen into has reached my neck and is rising fast.
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It`s OK to file bankruptcy !!!
re:
It must be the DWEK`s ~$400 Million and Kara Homes Real estate mess that scare investors out of Real Estate market in Ocean and Monmouth county in New Jersey !!!
======
Creditors peg Dwek debts at $400MHis aunt, lawyer seek payments
Posted by the Asbury Park Press on 02/17/07http://www.app.com/apps/pbcs.d.....0770217002
======KARA HOMES` Bankuptcy
http://www.pressofatlanticcity.....6246c.html -
[DTT: reposted from other page as this one was locked]
Casey,
You’ve been trolled hard by Nigel. The accountant with weaponry skills utilized by the Feds that conducts interrogations and drops the bomb on suspected crime ringleaders was completely made up.
Of course you knew this, right? I mean, anybody could see through this, right? It’s one of poorest trolls I’ve ever read.
Tell us you are joking.
TIA.
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Casey:
The law should punish you for the following reasons:
1.You committed a crime
2.You haven’t reformed
3.You continue to investigate get rich quick schemes (ie corporate credit) Let’s face it, you have no credit or money and aren’t going to be able to do a “sweet deal” without doing something shady. Yet you continue to refuse to get gainful employment to follow these ideas of self employment
4 Because of 2and 3 it is likely you will do something like this again. Potentially on a much larger scale.
At a minimum, you should be put on probation for your own good before you do something else stupid. The judge should force you to get a real job (or two) and make amends for your actions to the best of your ability.
Judge Dredd
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Ho Ho Ho - It’s Santa Flipper Clause
Rest assured Casey, wherever you are on December 25, I will visit you. Mrs. Clause has said that she will bake a cake with a file in it on the 24th if you have a need for it.
Santa F. Clause
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If you add up all of the money each bank lost, how much does it add up to? We’re not talking about writing a bad check at the local 7-11. What recourse do you think the banks should have for the $1M+ you’ve cost them?
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Casey, I’ve asked you politely several times now and I’d really appreciate an answer - what is it that you DO all day? Can you walk us through a typical day? Please be more specific than “work sweet deals” because that’s about as vague as can be.
Maybe we would stop giving you such a hard time if you could actually explain what you’re working so hard at. You say you work and you’re too good for a W-2 job, so WHAT DO YOU DO??
Please tell me. Please.
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He also suggested that you get 2 or 3 paying jobs……..will you be following that suggestion ?
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I think people want you to go to jail because they want to believe the system works…that people who lie and try to reach the easy life via misrepresentation and fraud should end up in jail. I wouldn’t mind you ending up in jail because people like you are the reason home prices were out of control. If not for your/others’ get rich quick scheme in real estate home prices would be reasonable and I wouldn’t have to rent. I qualified for a real 30 year loan on an overpriced place; but, I was rational and simply could not pull the trigger and risk my financial future.
So now I wait. Wait for people, to lose their homes, for prices to drop, and fraudsters like yourself to crash the system so that I can buy something I should’ve been able to afford a while ago.
Also, the fact you refuse to get a job really pisses me off. It makes you look like a lazy, self-absorbed s*%#. (Look like or are?) Good assets take either work or money and the best take prodigiuos amounts of both.
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Casey:
Do you just not want to go to prison — or do you want a free ride altogether?
Let’s say a prosecutor offers you a deal:
1) You get one or more felony convictions with a total sentence of 10 years probation
2) You’re barred from being anywhere near the real estate business for 10 years
3) You pay 25% of your income for the next 10 years toward restitution
4) You perform 2,000 hours of community service
Would that be okay with you?
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Personally, I don’t think Casey should go to jail. He should be ordered to get 2 jobs though! Anyways most of us were like him and got caught up in the whirlwind RE market. Some people were lucky enough to get rid of the properties before the bubble.
I have 2 houses at this moment. One that I rent and the other I live in. I am forced to get rid of the rental home in a horrible market. I will be graduating from college with a Master’s in Accounting and I will have to start repaying my loans.
I have spoken to my lender about Deed in lieu and Short Sales (Thank You, Casey) and found that you don’t have to default on your loan to do either of these. Casey should have had his houses on the market as soon as he new he could not afford to pay for the homes any longer. He could have done the short sale or deed in lieu after 3 months of no offers or bids. He could have possibly saved his credit as well.
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Cmon Casey ..its got nothing to do with hate …people are pissed because your so full of it and actually think you should walk away scot free ..poor me the re investor ..sob sob..i didnt know..you knew enough to start the process and as such you should wear the full weight of it
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There are people that are prosecuted and doing jail time RIGHT NOW for less real estate loan fraud than Casey has done. Casey, you are facing jail time no matter what some mythical secret agent says.
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Casey - you broker the law, period. So, yes, you should go to jail.
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I believe anyone who breaks the law should be punished, but that doesn’t necessarily mean jail time.
There are people out there who defraud mortage companies with malicious intent. They scam the banks to get whatever money they can and they don’t ever intend to repay it. Those types of people should end up in jail. But that was not Casey’s intent.
Casey wanted to make money with real estate. If things had gone differently, I believe Casey would have paid back all the money. But even in that case, Casey’s lack of organization skills and inattention to detail would mean that he would still have problems since things would fall through the cracks.
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Casey
you cost people who bought those mortgages
hundreds of thousands of dollars.that’s fraud, that’s why there are laws,
that’s why you are a crook -
I have been reading your blog through my RSS feed since I first read about you in some publication months ago. I am a young investor like you. I have made similar mistakes myself. However I was lucky enough to have a successful company to fund my mistakes.
I like your blog and the fact you have publicized your experience. It’s to bad there are so many people who criticize and put you down with useless posts. They waste there own time and yours. I don’t typically read the comments on your site, however when I do I usually leave with the feeling there are a lot of angry jealous people out there who are too afraid to take risks to try to become something more than just another statistic of mediocrity.
Bottom line is. You are a success. While you are facing foreclosure and financial doom. You have created an extremely successful vehicle through this failure, with this blog and all the things that have, and will come with it. You keep doing exactly what you are doing. The trolls and haters will keep doing what they do. And others like myself will quietly continue to read your blog.
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Actually we *fbi* investigate and prosecute these crimes. Because the effects of mortgage fraud crosses state lines we have jurisdiction. If you look up mail/wire fraud you will see that we impose sentences of 7-25 years for offenses like this. Due to the open and shut case you have provided us with and your intent to continue borrowing (why else would you be developing contacts that could loan you 2 billion dollars) you will be in jail. You ARE a threat to society as your continued borrowing will contribute to poverty and economic loss. You don’t intend to pay back any of these loans unless it involves a new loan. As a threat to society you must be put behind bars. End of story.
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People want you to go to jail because your actions are negatively affecting our lives. You have been sitting on 8 houses that could be occupied by hardworking, deserving families. Through fraudulent means you have contributed to aritifically inflated housing prices and to top it off the hard workers of this nation must pay for your fraud through higher interest rates.
Because we operate in a free market economy, I also agree it is highly unlikely you will face jail time. You, the banks and their investors will have to bear the consequences of your actions. The bagholders have run out and no one is buying houses any longer. I laugh when I see you trying to short sell your crapboxes for 220K. Many don’t look worth more than 90k given their location.
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What is your plan to payback/settle all your loans later this year? Please do not include “sweet deals” in your answer, be as specific as possible.
TIA
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Casey, you made yourself a public figure, and now you b**** about “haters.” You wanted to become a star, enjoy everything that comes with it, haters, lack of privacy rights, etc…
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REPOST to more appropriate thread:
It’s interesting some of the comments I’m seeing about my story. Some people are saying I made everything up and my friend doesn’t even exist.
Since I started my blog in September, I’ve made well over 100 posts, all carefully thought out and researched. After all, I’m trying to attract clients with it. For me to publicly make up a story that could easily be disproven later on would be a foolish move. I assure you my friend, his credentials and the conversation we had are very real.
I have no vested interest in the outcome of Casey’s story. I care for him as a human being, but I wasn’t a party to any of his real estate transactions. No matter what my friend said it would have made an interesting story and that’s why I decided to write it.
Nevertheless, if he had said Casey would be going to jail, I suppose the “haters” would no longer be questioning his existence or credibility.
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You should go to jail because you commited a crime, and admitted to it. Your family should be STOCKED because they deserve it from being associated with you.
Get used to the term STOCKED, I have a feeling you’ll be doing a lot of this at your new 7-11 job.
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If they put you in jail, they’ll have to put 100’s of thousands of other people in jail that did the same thing you did.
I don’t think there’s enough jails to house that many people.What you and others will probably get is a fine and probation.
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gray- (Noun)
1. (mainly US) grey
2. (two-up) A penny with a tail on both sides, used for cheating.
3. (ufology) the image of an extraterrestrial creature with gray skin, bulbous black eyes, and an enlarged head.Now I know what you mean by, “Gray area.”
http://en.wiktionary.org/wiki/gray -
@ Reality Central #13
Technically, prison WOULD be a “free ride” for Casey. I can’t think of anything SWEETER !
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You jumped the shark a couple weeks ago. Not much else to see here now.
My guess is you’ll start to deal with serial forclosures until you finally declare BK. In the meantime, you’ll probably get a job offer that even you will realize is too stupid-good to pass up.
You might even land a media deal, but I doubt your story warrants any kind of upfront or guaranteed money. I really don’t think there’s any “untold Casey story” that anyone would find very compelling.
I have to think that you’ll get divorced.
Although I wouldn’t be surprised if you do wind up with some sort of moderate success, in a completely unrealted field, sometime in your late 30s/early 40s.
I’m out.
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Dude, you’re really starting to talk stupid. Now I may not know any terms in real estate, but “admitting and rationalizing” fraud is no “and” context. Admitting and rationalization are not mutually exclusive, rationalizing your fraud and crime is not exonerating yourself, and admitting your crime certainly isn’t either, it’s only normal people who commit crimes (especially non-violent crimes) to rationalize upon admission. You either did commit fraud or you didn’t, they’ll get you when they need or want to, and they probably don’t have to, it’s more entertaining watching you go through this debt hell than for you to waste tax payer money in a prison cell. It’s one thing to commit crime, it’s another to brag about it online. You don’t hear people talking about raping children in their blogs and say they’re a little bit of both admission and rationalization, do you?
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To Anonymous coward: I disagree with you a bit. As much as I disapprove of what Casey has done, I don’t believe there are people who are negatively affected by him occupying the houses, that’s why he’s facing foreclosure and desperate to sell them out for whoever needs it. Right Casey?
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KC: “Furthermore, I have a new respect for the speed limit and traffic laws.”
~~~~~~~~~~~~~~~~~~~~~~~~Then why are you still pursuing the corporate credit thingy? You have denounced drunk driving, but now want to get some smack and get in the Jetta.
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Casey,
You committed FRAUD.. Fraud is fraud.. It’s illegal.. If you speed and get caught, you pay the fine… You admitted you committed fraud, and the fine involves usually involveves jail when it occurs on the scale you have admitted to perpetrating.
You lied to your lenders and now they are not going to be paid what they were promised because you defrauded them.
Why shouldn’t you go to jail?
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I’ve worked with investigators for years from FBI, Treasury and Sheriff. The story is laughable at best. There is no way that the source is an FBI agent.
Any attorney worth his salt would be telling you to shut up. Where’s yours?
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I don’t think you deserve to go to prison. You deserve to have your bankruptcy petition thrown out of court, to be left with several hundred thousand dollars in debt, to have to pay back every dirty penny. You wanted to do it, and you should have to.
California has generous laws protecting real estate gamblers, other states aren’t so forgiving (you should have stayed in Cali), so there’s a good chance you will in fact be required to earn most of the money you stupidly gave away to smarter real estate speculators. And hopefully all of the cash back at closing, which you lied to get, broke the law to hide, and then just blew on luxuries.
“WHY do so many of you think I still deserve to go to jail??”
You don’t understanding anything, do you Casey? Society puts people in jail because enough political power pushes for the prosecution of those people. So who have you (and others like you) hurt? Who wants you in jail?
1) All the poor working stiffs, who could have been your biggest fans, want to see you in jail now because you constantly insult them. The “9-5 cubers” would like nothing more than too see you fail completely; that would make them feel a bit less like “loosers”.
2) Successful, hard-working folks, including many of the people who once tried to help you, want to see you in prison because you are dishonest, lazy, stupid, and greedy. You feel entitled to everything they worked for, and you don’t want to do a lick of real work for it. If you were allowed to succeed, all the modestly successful folks would be left to wonder what they were doing all their life.
3) The rich want to see little punk thieves like you in jail because you lie to them, steal their money, waste their time, and pose as wealthy and powerful with nothing to back it up. You’re trying to invade their world, but you aren’t worthy.
That’s the lower class, the middle class, and the upper class. Who’s left? Who supports you? Who doesn’t want to see you fail?
If you find anyone, be very very nice to them. You don’t have a lot of supporters left.
(BTW, people you’ve given thousands of dollars in seminar fees to probably won’t be honest about this issue.)
But I hate debt collectors more than I hate you, so I’ll help you out. You should send CashCall a certified letter demanding that they stop harassing you. Google “stop debt collection calls” or “Fair Debt Collection Practices Act” for more information.
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Casey, it is very doubtful that you’ll ever see any jail time. If this becomes a legal case, you’ll get probation at worst.
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Kid:
“With the troubles I have already experienced and the good I am trying to do via my story…
With my credit ruined, my reputation tarnished, my behavior sharply criticized, my past dug up and exaggerated, myself and my associates verbally abused, and even my family being stocked..
Notwithstanding that some of you can’t stand my care-free personality, my preference for self-employment and occasional Jamba Juice outings..
With all that…
WHY do so many of you think I still deserve to go to jail??”
I don’t really care if you do time or not, little hobbit, but I disagree with Nigel and his “friend” that you’re too small a fry for the AUSA to hammer into the turf like a tent-peg
For one thing, your value as an example FAR outweighs any utility in letting you continue unprosecuted with that anchor around your neck.
Your own creditors will be the ones demanding your head…if your friendly neighborhood legbreaker is found out to be allergic to breaking legs, what would happen to his business, kid?
Yeah, sure, Nigel’s “chum” says that fraud like yours is built into the rates…that’s crap, too, kid.
You bet your sweet li’l bippie that your creditors are going to try to pass the turds you put in the stewpot right along to Uncle Sammy.
And if Nigel’s chum’s bosses think that there AIN’T going to be an outcry for them to get off theor asses and collect someone’s scalp, then Nigel’s pal and his bosses better start looking for another line of work.The public will demand that somebody hang, and up pops yourself with your little Jamba-Juice suckin’ blog and no job, owning several homes, none of which you are living in…as seen in USAToday, etcetera.
And in case you’ve not looked in the mirror, my lad, you are of the gender and the ethnic persuasion that is prime pickins’ for “examples”.
A young white male, obtuse and poor…if anyone wants to make their political chops by casting you down among the man-rapers, you’re toast, kid.That’s the way it is.
Somebody’s going to have to hang before this all shakes out…why NOT you?
Nothing personal.
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You deserve to go to jail because you committed mortgage fraud many times over. Everybody here wants you to go to jail because 1) you keep acting like you didn’t actually do anything wrong, and 2) you are extremely lazy and irresponsible.
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You crashed your car… into eight banks. The loss to these banks is ongoing. That makes you an a-hole whether you go to prison for it or not.
Get a job & declare bankrupcy, or continue being beaten down by successful businesspeople like myself who know you’re full of sh-t and are choosing to erode bank assets rather than entrusting a bankrupcy court to fairly dispense of your debts with your assets.
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Casey, can you pontificate about this stuff all you want. But at the end of the day, the people who decide whether you deserve to be punished are your creditors and the prosecutors, and the people who actually decide whether you get punished are the judges.
As uncomfortable as it makes you feel, it’s now completely out of your hands. You have no influence with any of the people who will decide your fate. You’re just a passenger from here on in.
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Don’t know whether you will go to jail or won’t. You’ve left a lot of victims in your path and any of them could decide to go the criminal route vs. the civil route.
Based on your continued criminal behavior (the recent promissory note) and complete inability to recognize that you do NOT have the knowledge, skills, abilities, temperament or drive to succeed (let alone succeed in your own business) perhaps a criminal prosecution or civil case could beat it into your thick skull that you need to be an employee (a mediocre one) and not a business owner.
That’s not hate, that’s reality.
You are very bad at actually DOING what needs to be done. You waste time on non-essential work and don’t focus on absolutely essential work. For example, you wasted time meeting with various other real estate con artists and taking more expensive training instead of resolving the payment issue with the Utah property. In fact you caused the payment issue problem. Don’t you see that? If you were an employee of mine, we would have had an unpleasant conversation about and I would be monitoring your work much more closely.
You do not have a clear grasp of your situation and of essential details about your houses. Some homeless guy is living in a Sacramento property. You have been surprised at each and every foreclosure auction. How is that alleged short sale going on the Arizona (New Mexico?) house? I can guarantee you that successful entrepreneurs know WTF is going on with key areas of their businesses.
You make bad decisions and you don’t seem very smart or shrewd. Again, this isn’t hate, it’s reality. If you can’t make good decisions, and you certainly have made zero so far, you are NOT going to succeed.
You can possibly be a success as an employee. You seem personable. With supervision you can probably do work that has value. A supervisor can provide the direction you so clearly need and protect you from yourself. The steady paycheck will ensure that you probably won’t starve. I would recommend that you try and find work at a company with a defined benefit plan because I can guess already that any stock market purchases you make are sure to tank instantly. You’re in Sacramento which is a state capitol so there are plenty of state jobs available. It takes a while to be hired so I’d try and get on some hiring lists now.
You also seem to have some impulsive disorder, perhaps even bordering on mental illness or personality disorder. These are not traits that help you succeed. They need to be managed and perhaps treated. Signing contracts without reading them or understanding them or consulting with someone who will read and understand them is bad. The grandiose post a while back that you were going to buy apartment buildings, and that someone’s proffered deal was too small is an example of disordered and delusional thinking.
The whole corporate nonsense that you’ve been talking about is a demonstration of all of these unsuccessful traits. Lenders will not fund an insolvent corporation any more than they will fund an insolvent individual. That’s delusional. It’s a waste of time for you to think about it. It’s also another example of bad decision making. It also sounds dishonest and you are already not very ethical. “Intending” to pay money back when it’s obvious that you canNOT pay money back is dishonest and delusional.
Yes, a regular job isn’t going to pay back the money you owe. Only an upturn in the housing market can save you. And let me emphasize, if the housing market improves, and you somehow make a miniscule profit on one of the houses it will have NOTHING to do with you.
However, a regular job will give you money to eat and pay what bills you can. Bankruptcy will clear out many of the other bills. I am not a lawyer and have no familiarity with the new bankruptcy laws so I won’t comment on what can and can’t be discharged in the proceedings. If you’re still left with a huge, impossible debt, well, you “earned” it and have no one to blame. It’s just one of those ugly situations. The honorable thing is to work a job, provide value to an employer, and pay what you can.
Perhaps one lottery ticket per month just for fun.
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Wow, great post! It makes sense to me, no jail time.
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Casey, I have one question for you. As far as I know, I am not aware of any real estate gurus who advocate taking out loans in your name for the purpose of flipping property. In fact, the grand daddy of all gurus, Ron LeGrand, is adamant against having virtually any loan placed in the RE investor’s name.
Where in the world did you come up with this investing “plan”?
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Casey,
Good post. I’m not sure if I totally buy Nigel’s post about his FBI accountant/interrogator/small weapons expert friend though. Did he say he was an ex Green Beret or Navy Seal too? Anyways I don’t think you should go to jail, not because you don’t deserve it, but because I don’t want to spend the $44K per year it would cost to put you in a prison. It’s going to cost taxpayers enough to clean up the easy money banking mess that we are now in. I do think that you at least deserve to get prosecuted and get a felony conviction on your record. This will be the scarlet letter that follows you for the rest of your life.
#21. Tony
I’m neither angry nor jealous, but I do hope justice is done. No offense, but you don’t seem to have the highest standards if you hold Casey as a model of success. You also don’t know the individual circumstances of all the posters on this blog to make sweeping statements that everyone that is critical of Casey must be risk averse and mediocre.
chopper
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Maybe on the inside, you can make sweet deals flipping jail cells. borrow 30 cartons of smokes from the Italians and buy 10 sweet cells from the Muslims. Flip them to the Mexicans for 3 packs on the carton and stiff the Italians by not paying back the loan. Write out your story on toilet paper, and get real famous by passing the story out to all the convicts. Sell your rights to a couple hens over in the women’s facility and invest the proceeds in a 100-inmate labor farm that will pay you sweet passive income for life.
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KC -
Assuming that Nigel is correct, and that the feds aren’t likely to go after you, you still have committed crimes in five different states. Each state can go after you. In fact, even if the feds prosecute you and a jury finds you not guilty, the states can go after you FOR THE SAME CRIMES.
If you consider that each state’s AG can do after you as well as a DA for each county in which you committed these crimes, there are at least 11 agencies (the feds plus the states) that can go after you. Add to that the fact that there are multiple US Attorneys that can go after you, and the odds of someone going after you are far, far higher.
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POSTERS FROM THE PAST?
Does anyone out there know what happened to posters from the past–Tim from Monterey Bay, Miguel, who posted the most knowledgeable and thoughtful posts–and Homey Da Clown, Ogg–who posted the most hilarious–and Yneone–Casey’s lone supporter?
Did they just vanish, or did they announce they were going to stop, or are they on some other blog?
thnx
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This story was a total lie. I had a situation similar to casey. I purchased several homes with the hopes of flipping for profit. I also did not have a sophisticated scheme. I simply overstated my income and got loans based on my credit score. I underestimated holding costs and rehab costs and had no exit strategy outside of selling. I wound up leaving the bank holding the bag and am currently awaiting sentencing for mortgage fraud. I got caught because I attempted to clear up my debt by buying more properties under a corporate veil. Someone sent a SAR (suspicious activity report) to the FBI and I was investigated. I was nowhere near as shady as casey. I could actually prove that the cash out from the deals went back into the properties. Taking cash out of a deal the way that casey and I did is illegal in itself and constitutes fraud. I hired a competent attorney and I am still likely facing a minimum of 7 years in a federal prison. I will let all know next week how it turns out. Casey, good luck.
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if a person accidentally kills someone, they get manslaughter.
you have “accidentally” committed fraud.
how you did not know you were committing a crime is amazing since you have spent such a large sum ($30k+???) on investment “school”.
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Noun
racketeer1. one who commits crimes (especially fraud, bribery, loansharking, extortion etc.) to aid in running a shady or illegal business.
2. one who instigates or has involvement with a racket.Verb
to racketeer1. to carry out illegal business activities or criminal schemes.
2. to commit crimes systematically as part of a criminal organization.RICO Laws: http://www.usdoj.gov/usao/eous.....m00109.htm
Noun
prison1. Casey’s future home.
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You’re going to jail. It’s just a matter of time.
Deal with it.
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What BadjerJim said.
What FBI said. (wow, I *do* hope he really his an agent!)
Because you broke the law — in a big way. You did nothing to mitigate the damages and you are doing nothing to reform. You’re still trying to borrow money for a “business” that you would instead use to pay off your personal debts and, no doubt, go to Hawaii. Are you going to disclose to lenders the true purpose of the money you’re asking for?
Your alleged intent to repay is irrelevant. Please get that through your head. Lenders knew you wouldn’t and couldn’t repay based on your income, intention to live elsewhere, taking cash back, etc., and if you’d filled the form out properly they could have told you so.
And you’d be disappointed, your “dream to escape the rat race” would be shattered, but you wouldn’t have taken any money under false pretenses. Instead, you lied, putting your own wants and dreams above honesty, good faith and forthrightness.
Once CashCall comes a’cashcallin’ and repossesses your in-laws’ stuff (don’t say you weren’t warned! plenty of posters warned you!), you’re gonna be wishing for a place to hide, so prison might not be so bad after all.
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Casey.
Get real. Here is a question.
How much of your cash back (money borrowed fraudulently) went to pay for your hawaii vacation last april. 4/3-4/10. The FBI knows. Why don’t you tell everyone else how much it cost. How much did you spend while you were there. How in the hell are you going to convince a jury of your peers that you intended to pay back your debts when you took 5k plus vacations as you were missing payments. This is exactly why you should and will go to jail. Consider this your “discovery”. Don’t forget to tell your public defender about this one as it will be an unwelcome surprise come trial time. Try and keep the Mrs. out of it if you want but she is guilty too and will also spend her time in jail.
FBI -
Really Casey has no chance of going to prison, since he
expects to pay everybody back. Frankly, I am bothered and
surprised by the amount of hatred people are showing you.
Casey, you should be commended for providing this
opportunity for people to learn from your experiences,
maybe even helping them not to make the same mistakes. -
Casey, you’re a thief, plain and simple. It’s good your going down quickly because it would really piss people off if you committed fraud and lived in the high life because of it.
I happen to think that God is punishing you for disobeying his command.
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Why you should go to jail?
How about you defrauded banks out of $100k’s by
(1) lying about your income,
(2) lying about your intentions to occupy the houses, and
(3) by overstating the true purchase price of the properties.You deceived the banks into making loans which were much more risky than they believed (as a result of your deceit).
Your excuses are:
(1) everyone does it
(2) the seminars told me to do it
(3) well, you can’t blame a guy for trying. But I’ll make everything better by offering lenders short sales (where they’ll lose $10k’s on each property), thereby saving them lots of trouble and money.If only you had saved them the trouble of backing you in the first place!
I haven’t heard you take the other side, and I’m curious how you’d feel if the shoe were on the other foot. What would be your perspective if you were a loan officer at one of these banks? What do you think you would do? Would you stop making no-doc loans? Would you raise the margin on your loans to offset the types of losses that you actually caused? Would you figure that the losses are OK, because you can’t blame an investor for failing (even deceitfully), and call it water under the bridge?
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Casey,
People by and large just don’t understand the amount of corruption that is going on all around them every day. 100’s of cash back at close deals are advertised on craigslist and in LA times, and happening every single day.
The stock market is totally corrupt. Look the Home Depot CEO Robert Nardelli just stole $200 Million from his investors. He will never see the inside of a prison sale and in fact I doubt he could even be technically charged with a crime, due to the fact that his attorneys did their best to make it completely legal. The investors have no recourse.
The Feds let $20 Billion get stolen in Iraq. The Government doesn’t even care - if they need more money, they just print it, or create it electronically out of thin air. Anyone who thinks Casey should be in prison right now should read this article. Prosecuting a small time morgage scammer like Casey is a waste of time when so many bigger criminals are not even being investigated.
http://www.amconmag.com/2005/2005_10_24/cover.html
Billions of dollars have disappeared, gone to bribe Iraqis and line contractors’ pockets.
by Philip Giraldi
The United States invaded Iraq with a high-minded mission: destroy dangerous weapons, bring democracy, and trigger a wave of reform across the Middle East. None of these have happened.
When the final page is written on America’s catastrophic imperial venture, one word will dominate the explanation of U.S. failure—corruption. Large-scale and pervasive corruption meant that available resources could not be used to stabilize and secure Iraq in the early days of the Coalition Provisional Authority (CPA), when it was still possible to do so. Continuing corruption meant that the reconstruction of infrastructure never got underway, giving the Iraqi people little incentive to co-operate with the occupation. Ongoing corruption in arms procurement and defense spending means that Baghdad will never control a viable army while the Shi’ite and Kurdish militias will grow stronger and produce a divided Iraq in which constitutional guarantees will be irrelevant.
The American-dominated Coalition Provisional Authority could well prove to be the most corrupt administration in history, almost certainly surpassing the widespread fraud of the much-maligned UN Oil for Food Program. At least $20 billion that belonged to the Iraqi people has been wasted, together with hundreds of millions of U.S. taxpayer dollars. Exactly how many billions of additional dollars were squandered, stolen, given away, or simply lost will never be known because the deliberate decision by the CPA not to meter oil exports means that no one will ever know how much revenue was generated during 2003 and 2004.
Some of the corruption grew out of the misguided neoconservative agenda for Iraq, which meant that a serious reconstruction effort came second to doling out the spoils to the war’s most fervent supporters. The CPA brought in scores of bright, young true believers who were nearly universally unqualified. Many were recruited through the Heritage Foundation website, where they had posted their résumés. They were paid six-figure salaries out of Iraqi funds, and most served in 90-day rotations before returning home with their war stories. One such volunteer was Simone Ledeen, daughter of leading neoconservative Michael Ledeen. Unable to communicate in Arabic and with no relevant experience or appropriate educational training, she nevertheless became a senior advisor for northern Iraq at the Ministry of Finance in Baghdad. Another was former White House Press Secretary Ari Fleischer’s older brother Michael who, though utterly unqualified, was named director of private-sector development for all of Iraq.
The 15-month proconsulship of the CPA disbursed nearly $20 billion, two-thirds of it in cash, most of which came from the Development Fund for Iraq that had replaced the UN Oil for Food Program and from frozen and seized Iraqi assets. Most of the money was flown into Iraq on C-130s in huge plastic shrink-wrapped pallets holding 40 “cashpaks,” each cashpak having $1.6 million in $100 bills. Twelve billion dollars moved that way between May 2003 and June 2004, drawn from accounts administered by the New York Federal Reserve Bank. The $100 bills weighed an estimated 363 tons.
Once in Iraq, there was virtually no accountability over how the money was spent. There was also considerable money “off the books,” including as much as $4 billion from illegal oil exports. The CPA and the Iraqi State Oil Marketing Board, which it controlled, made a deliberate decision not to record or “meter” oil exports, an invitation to wholesale fraud and black marketeering.
Thus the country was awash in unaccountable money. British sources report that the CPA contracts that were not handed out to cronies were sold to the highest bidder, with bribes as high as $300,000 being demanded for particularly lucrative reconstruction contracts.
The contracts were especially attractive because no work or results were necessarily expected in return. It became popular to cancel contracts without penalty, claiming that security costs were making it too difficult to do the work. A $500 million power-plant contract was reportedly awarded to a bidder based on a proposal one page long. After a joint commission rejected the proposal, its members were replaced by the minister, and approval was duly obtained. But no plant has been built.
Where contracts are actually performed, their nominal cost is inflated sufficiently to provide handsome bribes for everyone involved in the process. Bribes paid to government ministers reportedly exceed $10 million.
Money also disappeared in truckloads and by helicopter. The CPA reportedly distributed funds to contractors in bags off the back of a truck. In one notorious incident in April 2004, $1.5 billion in cash that had just been delivered by three Blackhawk helicopters was handed over to a courier in Erbil, in the Kurdish region, never to be seen again. Afterwards, no one was able to recall the courier’s name or provide a good description of him.
Paul Bremer, meanwhile, had a slush fund in cash of more than $600 million in his office for which there was no paperwork. One U.S. contractor received $2 million in a duffel bag. Three-quarters of a million dollars was stolen from an office safe, and a U.S. official was given $7 million in cash in the waning days of the CPA and told to spend it “before the Iraqis take over.” Nearly $5 billion was shipped from New York in the last month of the CPA. Sources suggest that a deliberate attempt was being made to run down the balance and spend the money while the CPA still had authority and before an Iraqi government could be formed.
The only certified public-accounting firm used by the CPA to monitor its spending was a company called North Star Consultants, located in San Diego, which was so small that it operated out of a private home. It was subsequently determined that North Star did not, in fact, perform any review of the CPA’s internal spending controls. Today, no one can account for billions of those dollars or even suggest how the money was spent. And as the CPA no longer exists, there is also little interest in re-examining its transparency or accountability.
Bremer escaped Baghdad by helicopter two days before his proconsulship expired to avoid a possible ambush on the road leading to the airport, which he had been unable to secure. He has recently been awarded the Presidential Medal of Freedom, an honor he shares with ex-CIA Director George “Slam-dunk” Tenet.
Considerable fraud has been alleged regarding American companies, much of which can never be addressed because the Bush administration does not regard contracts with the CPA as pertaining to the U.S. government, even though U.S. taxpayer dollars were involved in some transactions.
Many of the contracts for work in Iraq were awarded on a cost-plus basis, in which an agreed-upon percentage of profit would be added to the actual costs of performing the contract. Such contracts are an invitation to fraud, and unscrupulous companies will make every effort to increase their costs so that the profits will also increase proportionally.
Halliburton, Vice President Dick Cheney’s former company, has a no-bid monopoly contract with the Army Corps of Engineers that is now estimated to be worth $10 billion. In June 2005, Pentagon contracting officer Bunny Greenhouse told a congressional committee that the agreement was the “most blatant and improper contracting abuse” that she had ever witnessed, a frank assessment that subsequently earned her a demotion.
Halliburton has frequently been questioned over its poor record keeping, and critics claim that it has a history of overcharging for its services. In May 1967, a company called RMK/BRJ could not account for $120 million in materiel sent to Vietnam and was investigated several times for overcharging on fuel. RMK/BRJ is now known as KBR or Kellogg, Brown and Root, the Halliburton subsidiary that has been the focus of congressional, Department of Defense, and General Accountability Office investigations. Defense Contract Audit Agency auditors have questioned Halliburton’s charges on a $1.6 billion fuel contract, claiming that the overcharges on the contract exceed $200 million. In one instance, the company charged the Army more than $27 million to transport $82,000 worth of fuel from Kuwait to Iraq. Halliburton has also been accused of billing the Army for 42,000 daily meals for soldiers, though it was only actually serving 14,000. In another operation, KBR purchased fleets of Mercedes trucks at $85,000 each to re-supply U.S. troops. The trucks carried no spare parts or even extra tires for the grueling high-speed run across the Kuwaiti and Iraqi deserts. When the trucks broke down on the highway, they were abandoned and destroyed rather than repaired.
Responding to complaints, Halliburton refused to permit independent auditing and inspected itself using so-called “Tiger Teams.” One such team stayed at the five-star Kuwait Kempinski Hotel while it was doing its audit, running up a bill of more than $1 million that was passed on to U.S. taxpayers.
Another U.S. firm well connected to the Bush White House, Custer Battles, has provided security services to the coalition, receiving $11 million in Iraqi funds including $4 million in cash in a sole-source contract to supply security at Baghdad International Airport. The company had never provided airport security before receiving the contract. It also received a $21 million no-bid contract to provide security for the exchange of Iraqi currency. It has been alleged that much of the currency “replaced” by Custer Battles has never been accounted for. The company also allegedly took over abandoned Iraqi-owned forklifts at the airport, repainted them, and then leased them back to the airport authority through a company set up in the Cayman Islands. Custer Battles reportedly set up a number of shell companies in offshore tax havens in Lebanon, Cyprus, and the Cayman Islands to handle the cash flow.
Two former company managers turned whistleblowers have charged that the company defrauded the U.S. government of at least $50 million. The Bush administration’s Justice Department has only reluctantly, and under pressure from a Newsweek exposé, supported the rights of the plaintiffs in the case. The White House has indicated that it is not interested in assisting other investigations of fraud in Iraqi contracting, preferring to regard the CPA as a “multinational entity” and thereby limiting its vulnerability in American courts.
Another American contractor, CACI International, which was involved in the Abu Ghraib interrogations, was accused by the GAO in April 2004 of having failed to keep records on hours of work that it was billing for and of routinely upgrading employee job descriptions so that more could be charged per employee per hour. Both are apparently common practices among contractors in Iraq, and audits routinely determine that there is little in the way of paperwork to support billings. The GAO report also confirms that many private security contractors in Iraq have been charging the U.S. government exorbitant fees for their services, frequently because the contracts allow security costs to be rolled into the overall cost of the contract without being itemized. In one case, contract security guards were effectively being billed at $33,000 per guard per month while the average rate for a security specialist worked out to between $13,000 and $20,000 per month.
The CPA also spread its largesse around the U.S. armed forces, distributing over $600 million in cash to four regional commanders to fund reconstruction projects as part of the Commanders’ Emergency Response Program. An audit of one region disclosed that 80 percent of the funds could not be accounted for, and more that $7 million in cash was missing. It is widely believed that many of the contracting agents working under the regional commands literally stole the money. In one reported instance, an American contracting officer doubled the price of a multimillion-dollar contract and brazenly explained that the extra money would be for his retirement fund.
Unfortunately, the corruption of the occupation outlived the departure of Paul Bremer and the demise of the CPA. A recent high-level investigation of the Iraqi interim government concluded that the corruption is now so pervasive as to be irreversible. One prominent businessman estimates that 95 percent of all business activity involves some form of bribery or kickback. The bureaucrats and fixers who live off of bribery are referred to by ordinary Iraqis as “Ali Babas,” named after the character in The Thousand and One Nights who was able to access riches from a treasure cave by saying “open sesame.” For the average Iraqi businessman, there was formerly only one hand out, that of Saddam’s designated minion. Now every hand is out. The educated and entrepreneurial are leaving the country in droves, as is most of the beleaguered Christian minority. Huge government appropriations are approved by Iraqi lawmakers and then simply disappear. Meanwhile, life for the average Iraqi does not improve, and oil production, water supplies, and electricity generation are all at lower levels than they were when the U.S. took control in 2003. The only thing that everyone knows is that all the money is gone and daily life in Iraq is worse than it was under Saddam Hussein.
The undocumented cash flow continued long after the CPA folded. Over $1.5 billion was disbursed to interim Iraqi ministries without any accounting, and more than $1 billion designated for provincial treasuries never made it out of Baghdad. More than $430 million in contracts issued by the Petroleum Ministry were unsupported by any documentation, and $8 billion were given to government ministries that had no financial controls in place. Nearly all of it disappeared, spent on “payroll,” wages for “ghost employees” in the Ministries of the Interior and Defense. In one case, an Army brigade receiving money to support 2,200 men was found to have fewer than 300 effectives. 602 actual guards at the Ministry of the Interior were billed as more than 8,200 for payroll purposes.
Iraqi Airways carried 2,400 employees even though it had not operated for over a year and had no planes. The airline itself was sold to an unidentified buyer without any paperwork to show for how much it was sold and what assets were included. It has been alleged that the buyer might well have been Pentagon favorite Ahmad Chalabi.
Nearly all payrolls in the national guard and national police were also inflated, leading to uncertainty over how large the security forces actually were—still an open question. Absentees from the nominal rolls of police and soldiers provided by government ministries are believed to number in the tens of thousands, and as the United States Congress has figured out, frequently cited figures on available trained manpower are largely imaginary.
Even the “coalition of the willing” partners have been quick to cash in. Polish helicopters purchased as part of a $300 million deal with arms maker Bumar Ltd. were found to be obsolete, largely unflyable, and were actually rejected by the Iraqis. Bullets purchased from Poland by the Defense Ministry cost three times the normal international price. Five Polish peacekeepers have been arrested for demanding $90,000 in bribes. Both British and American soldiers have also demanded bribes from shopkeepers and travelers.
In yet another instance of take-it-while-you-can, a senior Interior Ministry official flew to Beirut in a helicopter accompanied by $10 million in newly printed Iraqi dinars. He has yet to return. Interim Iraqi President Iyad Allawi’s Defense Minister Hazem Shaalan transferred $500 million to a bank account in Lebanon, allegedly to buy weapons, in a case that continues to be murky. Shaalan is reportedly vacationing abroad and has not returned to Iraq. A Bremer favorite at the Defense Ministry, Ziad Tareq Cattan, was responsible for a number of shady arms-procurement deals. A warrant has been issued for his arrest, an unusual occurrence, and he is avoiding detention by staying with family in Erbil in Kurdistan.
Countless billions will never be accounted for, and the full cost of corruption has yet to be tallied. Sources report that much of the money that was designated for the development of a national army and police force is actually going to units that are exclusively Kurd or Shi’ite in expectation of a day of reckoning over the country’s oil supplies. The Kurds have made no secret of their desire to continue their autonomy-bordering-on-independence and have stated that they regard Kirkuk as their own. The Shi’ites have possession of the oil-producing region to the south and are using their control of the Interior Ministry to fill police ranks with their own pro-Iranian Badr Brigade members as well as militiamen drawn from radical cleric Moqtada al-Sadr’s Mehdi Army. The Sunnis are the odd men out, virtually guaranteeing that, far from becoming the model democracy the U.S. set out to build, Iraq will descend deeper into chaos—aided in no small part by the culture of corruption we helped to fortify.
_______________________________________________Philip Giraldi, a former CIA Officer, is a partner in Cannistraro Associates, an international security consultancy.
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What is the name of the original song that the “Hey Casey” song was based on (with changed lyrics)??? I recognize the tune but can’t place it. Somebody please help! It’s driving me crazy!
THANKS!!!
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You deserve to go to jail because you’re a thief with no integrity at all and don’t give one damn about fixing your mess. However, I don’t agree you should go to prison. You should face a firing squad. It would be a cheaper cost to society.
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The other thing is Casey’s subprime lenders like Countrywide will no way want to turn state’s evidence because it could draw attention to a much larger fraud they are perpertrating on their own shareholders - cooking their books by boosting their earnings with accrued unpaid interest on junk mortgages (option arms and stated income loans)
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I believe this Nigel character has an attorney/commando friend like Robert K has a rich dad. Fictional characters are used to make a point.
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CASEY ASKS (from above):Why Should I Go To Jail For Mortgage Fraud?
CASEY ANSWERS(from above):I overstated my income, misrepresented owner occupancy intent and concealed the cash-back from the lenders.PROSECUTOR: Asked and answered, your honor…although I’ve never had a defense witness ask and answer my question for me??!!
COUNSEL FOR CS:Your honor, Casey is clearly leading the witness…I mean, he is the witness and…well…um… the defense pleads the fifth…
JUDGE: Well this is a strange turn of events; Proceed with redirect Mr. Prosecutor…
PROSECUTOR: Prosecution tenders web log (IAFF) into evidence as exhibit ‘A’ and calls on haters from October 2006.
(Dozens of hooded people move toward the witness stand)PROSECUTOR: Do you so called ‘haters’ see in this court room Casey Serin… aka Cashback Casey?
(The hooded figures point in unison at the defendant).
PROSECUTOR: What knowledge of his lawful transgressions can you point to?
(The hooded figures point in unison at exhibit ‘A’).
PROSECUTOR: As defendant has taken the fifth, the state now calls on the haters from November 2006.
(Several hundred hooded people move toward the witness stand)…Later the same day…
BAILIFF (outside the courthouse with a megaphone addresses thousands of hooded people): OK PEOPLE, THEY WANT THE MARCH 2007 HATERS NOW…
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47. chopper
Yes you are correct. I do not hold Casey as the model of success. Nor do I believe there is a “model of success”.. Success is an ideology that is something different to each person, may it be monetary or whatever.
And far as sweeping statements go. I did not mean to say anyone who criticizes Casey is jealous or angry. I said it left me feeling that way. There are levels of criticism, everyone here knows the difference between just being an a****** and constructive criticism. I see lots of a******* and not a lot of constructive criticism.
However if this blog was full of people patting each other on the back it wouldn’t have the readership or the thousands of comments it does. The drama unfolding is what keeps people coming back and why THIS BLOG is a model of success. Casey’s investment ability maybe questionable but his ability to drive traffic to this blog and the huge amount of press he has been able to generate is another successful trait. There are bloggers on the internet that struggle everyday to get the kind of user interaction and traffic that this blog has. I would say that is successful by any measure of success. Now Casey just need to monetize and duplicate what he has created here and he won’t have to worry about money anymore.
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“When asked about time lines for prosecution, my friend pointed out the statute of limitations for these types of offenses is five years.”
But when does it start? When you declare BK?
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I’ve been reading this blog for a while. What is up with “HungryBear”s name? What’s the deal here? Just can’t enough pots of honey HungryBear?
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You should really do your homework. Check this out. It’s from the IRS website on CONVICTED mortgage fraud cases -not hypotheticals - real people, real fraud, real time. Scary the resemblance.
I would pay more attention to what the IRS posts rather than what some bogus made up federal agent has to say. Check it out…
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Casey,
The fact is, the majority of Americans didn’t use “Liar Loans.”
Further, even in areas of California where they are very common, the majority of “stated income loan” users did not misrepresent their intention to live in the house or lie on their HUD statement about cash back.
You can say “everyone was doing it,” but statistically, everyone wasn’t
And here’s the thing about America. Civilization in general, but America in particular here. It runs on the idea that people are going to tell the truth most of the time. Without the assumption that in business, most people are telling mostly truth most of the time, the whole system goes pretty flat.
We could all run out and start breaking every law tomorrow. The cops couldn’t stop us, the strong could steal everything from the weak, people could rape and murder at a whim. There aren’t enough police, really, to stop it if “everyone was doing it.” But we all like living in a civilization where these things don’t happen, so for the most part, the vast majority of us don’t just go around breaking laws on a whim. And society continues to function.
I understand that, coming as you do from a police state, this whole “there is no one standing out there with an AK47, so who is keeping the law from being broken” feeling must be very unfamiliar.
But part of that social compact of living in a non-police state democracy, CAsey, is that average citizens who obey most of the laws most of the time get REALLY pissed when someone runs around breaking a bunch and shows no shame or sense that they did wrong when they get caught.
You get caught. You continue to defend your actions. You plan further wrong actions, and seem flummoxed by your troubles. It makes you an affront to Average Joe and Jane American, who submitted six forms of proof of income for their mortgage, and who make the payments every month. They want you to suffer for your transgression.
and the thing is, being so public and pissing so many people off, you just may, Casey. In college, I lived next to a crack house. It was small, the tenant was nobody powerful in any drug ring. But she was out of place in a community of working-class law-abiding folks, and the entire neighborhood began calling the police every time we saw a deal go down in front of her house. After several weeks of this, a SWAT team broke down her door. Probably just to shut up the Neighborhood Watch.
Casey, you’re the crackhead, and we’re the neighborhood watch.
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#60 Hungry Bear:
So, let me get this straight…the hobbit tycoon should not be prosecuted because of the War in Iraq and Home Depot’s CEO getting a golden parachute?
Uhhhh, dood.
If I came to your house and stole all of your valyooable possessions, do you think you’d be singin’ the same song?
Yeeeaaaahh.
There’s merit in what you say, but the big scams are pulled off by the little scammers who don’t get caught and who grow into the private jet class, see?
There’s two ways to clear a forest, ace. One way is to cut down all the big trees, and then burn out the underbrush.
The other way is to burn out the underbrush, and then cut down the trees left standing.
Problem with the first way is that you have to make paths through the underbrush to get at the trees…and that leaves a lot of Casey-weeds to grow on up while your axin’ away at a redwood.
Casey’s just a withered little dandelion at the edge of this woodlot, but if he gets burned, it might just ignite a conflagration making any further axe and saw work unnecessary.
This class of crook tends to roll the heat right on up the food chain, y’know.
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Casey,
God will never forgive you if you don’t turn yourself in. You can lie to everyone on these message boards, but God knows everything.
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#22, #55 and #56 Nicely put!
Casey I want you to go to jail because you broke the law and I want to see justice. I want you to go to jail because it is not fair to get away with insanely fraudulent behavior. But in the end, jail or not, you will end up always having money problems. Any money you make will fall through your hands as fast as it arrived. You get back what you give and you have given nothing. Truly, let me know, what HAVE you given? You severly lack depth of personality and perhaps jail might provide you with some character.
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I live in Sacramento. I hope I get called for Jury duty in your trial.
You lied.
You should be punished for lying. Plain and simple. Your lying hurt the banks and the people they sold your loans to.
You should be punished.
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In another thread, you stated that you felt that being broke and stressed out about your financial situation was adequate punishment for the dozens of felonies you committed.
You are wrong.
Being broke and stressed out about your financial situation is adequate “punishment” for being foolish enough to quit your job and not look for another when you are not independently wealthy.
Why should you go to jail?
Really, there are two reasons.
1) You committed dozens of felonies that have cost your victims hundreds of thousands of dollars in losses.
2) You are planning to commit a larger fraud to the tune of $10 million plus.Simply put, you are a threat to society.
The only thing that stopped you from buying more houses is the fact that banks caught onto the scam you were pulling.
So now you want to pull a larger scam and hope to conceal it by setting up a bogus corporation.
You have to be stopped, and it appears that jail is the only way to stop you.
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Who are Casey Serin’s lenders?
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“YES, I believe I am making a difference in the industry by talking about my mistakes. My goal is to show other wanna-be RE moguls, agents, loan officers, etc, the consequences of reckless behavior.”
What exactly do you believe should be the consequences of your reckless behavior Casey? If you do not have some serious consequences, there is no positive lesson to be learned. Any one could walk away from any deal that they entered and no longer wish to deal with. So how much debt should you be able to walk away from with no consequences, other than some screwed up credit? How much loan fraud should someone be able to commit before they have to spend some time behind bars?
And if you are somehow able to payback or settle your debts, I honestly don’t believe I will approve of you. But what does that matter? You don’t approve of education, 9-5 jobs, 20% down loans.
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Also, how long does it take between missing mortgage
payments and receiving delequency or foreclosure notices? -
Casey, you deserve to go to jail because you intentionally defrauded a sum in excess of two million dollars.
If you stuck me up for my wallet, you would deserve to go to jail. I guarantee you that there is significantly less than two million dollars in my wallet. Why on earth would you think that you don’t deserve to go to jail?
Whether you are likely to go is a completely different question than whether you deserve to go. And I honestly can’t fathom why you would think you don’t deserve it.
I’m not trying to be a hater, here. Just take a step back, detach yourself from the situation, and think unemotionally about it:
You intentionally stole millions of dollars. How could you possibly think you don’t deserve to go to jail?
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Nigel is an idiot and Casey you are an idiot. I got $1000.00 ridin on the Utah house. Hey Nigel I thought Utah was doing great? Tick tock tick tock. What did you say it went up 20%? ahahahah
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Uzbekistan eh? Sounds good to me. N.America is getting overpopulated. We could use some relief on our overloaded infrastructure
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Casey,
What is it you DO all day? Can you walk us through a typical day? Not vague stuff like “work on sweet deals” but actual specifics. Who do you call? Where do you go? What are you working on? Why can’t you find time to straighten out the Utah payment? -
After I posted a comment yesterday(#3), I thought more about why Casey should be in jail.
Then I remembered the Resolution Trust situation back in the early 90’s and a man named Charles Keating.
The feds needed a poster boy to prosecute and Keating was front and center and visible.
Fast forward to 2007, and who is the most visible abuser of the system — Oh yeh, Casey Serin.
Casey, I’d ask for Allenwood if I were you, it’s in central Pennsylvania and filled with white collar criminals who can advise you on a good scam to use after your release. -
Why should you go to jail? You have committed multiple frauds…and, you have expressed a desire to commit more, via the “corporate credit thingy” that about 1,000,000 posters here have told you not to do.
The only way to stop serial offenders is to jail them.
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“Why Should I Go To Jail For Mortgage Fraud?”
Why should you not.
Maybe the rest of us are safer with you in jail. Maybe being a prisoner is something you can do right. Surely, you will get up on time and be on time for all events and you will even have a schedule for you to follow and guards/mentors to ensure that you keep to the plan. When you look at it that way, jail might be the perfect place for you. Maybe they will even let you squeeze your own fruit. This way you can truly appreciate it.
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Casey,
How much dishonesty did you engage in to qualify for 8 homes in such a short time. Do you really think what you did was not fraud? If you pulled it off and all the lenders weren’t be stiffed I can see what do did could go unreprimanded but you really botched it all and paraded the debacle here. Do you really think you can be pardoned?
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Casey, we need the other posters back. Why dont you go on Roberts site and stike a truce.
@63 Hungry Bear
I think you hit it on the head. Although, some prosecuters dont go after the ones they should first, but the ones that will get alot of press……….kinda like the Duke Lacross…….they could have used those resoursesto get bad guys.
This jail no jail thing is boring. Everybody has some kind of opinion.
CASEY GET THE OTHER POSTERS BACK.
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Casey,
Do you really think you would have 8 loans if you were honest on your loan applications?
Do you really want us to buy “Well, I didn’t know what I was doing” filling out loan applications after you spent $30K in seminars telling you how to buy houses? Did they not go over this part or did you spend weeks in seminars confused coming out as you went in?
I expect more excuses from you.
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From reading the article linked to, and then your post, you seem to be giving great weight to the federal agent interviewed in the article that although this cloud may be hanging over your head for five years (statue of limitations), you “probably” won’t be prosecuted.
Here’s my thing. If you’re so confident that you shouldn’t/wouldn’t be prosecuted, why not call the FBI on it.
What I’d propose is what has already been proposed…that you march into the local FBI office and turn yourself in.
If things go as you predict, you’ll be sent on your way with little more than a slap on the wrist and a noncomiittal bureaucratic “we’ll get back to you.”
If nothing else, this act would play well in front of a jury, should, in some unlikely event, you end up in court.
This act would sure feed the gambler junkie side of your personality. I know you can feel the rush just thinking about it.
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Deportation, much better solution. Great idea 82. Save the US taxpayers some money from having to prosecute.
The blog used to amuse me until he posted this, now I crossed over to a hater. I really hate that I am a hater but AHHHHH how arrogant! “why should I go to jail for mortgage fraud?” arrogant narcissist.
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Well, two reasons why you should:
1. You confessed to fraud (and have the audacity to create a whole category in your blog simply called fraud). Back in October 4th, you said: “I lied on my loans. I overstated my income, and misrepresented my owner-occupied status and concealed the cash-back-at-close from the bank. I knew it all along. Nobody made me do it. It was my fault. I take full responsibility.”
2. Since then, 138 days have passed and you have only dug yourself deeper. I don’t think you’re a bad person, but I do believe that somewhere along that time you made up your mind to keep borrowing and not pay anything back. That’s intent right there.
You’re wonderful at self-promotion and at keeping us glued to your site. But not only have failed at stopping the bleeding, but also have compounded (literally and figuratively) your errors. By spending like there’s no tomorrow (Your deep haters say that you have squandered tens of thousands of dollars in God knows what) with no real plan to pay for them, that to me is mens rea.
And like I said before, you seem to think that a miracle awaits you if you keep hanging on. But experience counts for nothing if you don’t learn from it. You still allow for mail to pile up, spend money you don’t have, and show several signs of lack of basic discipline.
You only show a decent amount of discipline in your blog. Think about that. You care much more about your public image than about your financial problems. But the latter is why you have the former. Maybe you subconsciously believe that if you were to do well or fairly, your traffic would suffer even more.
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Casey,
Dad really blew his stack when I told him about you post. Here’s why he thinks jail time is right:
Even though we are a successful small business, we borrow money on a line of credit. We do this so we can buy new equiplemnt to make us more competitive and profitable as well as to push the limits of chopper technology.
Because of you and caountless thousands like you who defrauded banks (yeah, I know that everyone was looking the other way, but it still was fraud), our interest rate has gone up.
Why?
Simple. Since we are honest about our finances and always make our payments on time the bank has to use us and others like us to recapture the loses on you and your ilk. It’s that simple.
The honest ones always wind up paying for the schmucks like you.
Now go get your a** down to the police station before my dad finds you. It’ll be a lot safer for you.
Paul Jr.
PS, just for starters dad wants to pu one pf your arms in a pipe bender for fun.
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Casey, I think you are very cute. But listen sweetie, they threw me in jail for not paying taxes on $1 million. So because I basically “stole” $300k or so, my life is trashed.
I think in my case, it was the fact that I was a celebrity and they wanted to make an example of me. No matter how little you think you stole, you are heading here.
It’s not all bad though. If you come here, I’ll protect you. You are definitely my type. Just make sure you wear your boxers backwards when you go to bed.
Cheers,
Richard Hatch.
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“63. HungryBear
February 19th, 2007 at 6:28 pm The other thing is Casey’s subprime lenders like Countrywide will no way want to turn state’s evidence because it could draw attention to a much larger fraud they are perpertrating on their own shareholders - cooking their books by boosting their earnings with accrued unpaid interest on junk mortgages (option arms and stated income loans)”HaHa, ok sure.
If your so sure of this, then why don’t you get a loan from countrywide and see what happens if you miss some payments.So the lenders collection departments aren’t going to pursue
their fair payments because it may ‘draw attention’ to
corporate accounting using standard practices. And even
if they were nonstandard and illegal, releasing the information that may convict and recover expenses from
a defaulter is not the same as having a full independant audit of their own finances.
Sounds like if they were bad, they’d want to keep everyone busy going after the borrowers instead of the loaners.And if you are so sure of some Illegal accounting practices, why don’t you blow the whistle and collect some
reward money. -
You should absolutely go to jail, you haven’t reformed, continue to refuse to get a job and are basically being a general drain on society now. I would have sympathy if you were actively trying to get out of the whole real-estate scam, yet you refuse and are amazingly going to dig yourself into an even deeper hole. That and now you’re trying to rationalize your fraud to the rest of us. Its painfully obvious that you haven’t learned your lesson, prison may be the only solution for you.
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(13) Reality Central
Two thousand hours of community service would be 16 hours every weekend for over two years. That would hurt. But it isn’t jail time.
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Casey,
Realize the following: Cashcall does not want you arrested or to declare bankruptcy. They want you strung out and struggling to keep up on your payments. So you make a couple and miss one or two, make a couple, miss one or two. That way the amount you owe never goes down, you just feel like you are making progress in paying it down. They’ll just you tapped for a pint of blood once in a while so you are caught on the tread mill and can’t ever get off.
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Isn’t the better question why you shouldn’t go to jail?
You’ve admitted yourself that you “sort of” broke the law. Okay, there are grounds for you to be prosecuted. You admit that.
With that established, your argument basically boils down to your belief that what you did really isn’t that bad, and that you not only don’t deserve to go to jail, but that no one should hate you.
Okay. Convince us that’s true. Redeem yourself. Show us what you do, on a daily basis, to make up for your past transgressions. Prove to us that we shouldn’t hate you and that you’ll do more good as a free man than locked behind bars.
Serving as an example of what not to do, by constantly doing the worst possible thing at any given juncture, is only evidence in George Costanza world that you’re a helpful, meaningful contributor to society. That’s like a murderer asking for leniency because they killed their victim quickly and didn’t cause them to suffer.
Aside from serving as the poster child for terrible decisions, what do you do, on a daily basis to contribute to society, and/or the well-being of those around you, and/or to the lenders that you owe massive sums of money?
It’s not your current situation or really even your past trangsressions themselves that cause people to believe you should be in jail. It’s the fact that you do absolutely nothing meaningful to address or rectify the people you’ve admittedly harmed that leads to the hate and the desire to see you behind bars.
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If Tommy Chong can go to jail for selling a few bongs on the Internet, then you should go to jail for destroying communities, bilking taxpayers, and stealing from financial institutions.
No mercy for crooks like you.
Other than that, you’re an ok guy.
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People think you should go to jail because you broke the law by lying on your loans. It’s called fraud and it costs this country a lot every day. Getting off on the wrong foot is when you make poor (but legal) business decisions, not when you defraud lenders.
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Good morning, Sunshine.
It’s almost a quarter past 10 this morning and you’ve yet to take me up on my offer to handle the Utah situation for you.
I’m working on a Long Term Receivable report right now, but I’ll have some time right before lunch and several hours after lunch to handle this.
Unless of course you’ve got something to hide and don’t want me to find that missing payment…. ?
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@95
Papa BearI dont think that is what he is sying. He is just noting posible unclean hands. Also that is a good point I didnt think of until I read his post again.
Option arms are amortizing negitively when one pays the minimum payment. You can do this for a couple years. I dint think about accrued interest on all the mortgage companies books that cant be realized if one goes to foreclosure.
CASEY GET BACK THE OTHER POSTERS
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You’re an idiot….but don’t worry- the world needs ditch-diggers too.
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This whole thing is getting very boring. I keep checking in to see if I can “Learn” something for this boneheads mistakes, but it has turned into a “What’s going on with Casey” drama.
I think I’m out.
SAD!
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Casey, hang in there. If you truly have your faith and trust in the Lord than there’s nothing you can’t face. You confess, He will forgive and make you whole again!
^j^ ^j^ ^j^
I’m rootin for ya.
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@74. Jury Duty
I live in Sacramento. I hope I get called for Jury duty in your trial.
You lied.
You should be punished for lying. Plain and simple. Your lying hurt the banks and the people they sold your loans to.
You should be punished.
Why would you hope to be called for jury duty when Casey is tried?
You couldn’t possibly be seated on that jury because it’s plainly obvious that you’ve already made a decision on the case.
Unless, of course, you lie — in which case you should be punished.
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Casey:
Is there some way you can cooperate with the prosecutor and help him/her catch a bigger fish?
If you could help get a conviction against whoever “defrauded i.e. suckered” you, and play the victim, you could likely walk with a slap on the wrist.
You would likely have to participate in a sting, buy another property and catch them in the act and so on, to get the goods on the real Mr Big.
Think about it.
Of course, I’ll never understand why you opened a public website and started confessing to everything. You’ve badly negotiated against yourself!
The criminal justice system is not your mother and won’t give you Brownie points for “being honest”. You’ve made it infinitely easier for them to prosecute you if that’s what they decide.
Why is it you think lawyers ALWAYS tell their clients to KEEP YOUR MOUTH SHUT AND DON’T OFFER ANYTHING!
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Casey,
Vinnie and Rick are laughing their asses off over this one! There’s this guy we know who had some joint’s in a baggie in his glove box and he got pulled over for having a tail light out. The cops get suspicios cause of the smell, search his car, and Bammo! Weed.
Poor dude, it just a couple of grams over the posession limit and they throw him in the lockup dor dealing. He was in like 18 months. He swore up and down to the judge everybody does it and there are all these pot clubs and stuff and the judge just looks at him and away he goes.
That’s why you are facing some bad mojo my man.
By the way, check out http://www.mortgagefraudblog.com/ They seem to have at least a couple of folks gettin some pokey time every day. Maybe one of em was your reatlor.
Dad’s still pissed at you.
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Casey and community,
I’m not a hater I’m just very disappointed in you. Very, very disappointed. My opinion of whether or not you should go to jail is irrelevant. We are a nation of laws. If you should be prosecuted for the crimes you admit to publicly, then whether or not you are guilty will be determined by a jury of your peers. (Hint: hire a really good lawyer. Hire them before you direct them to this blog.) The jury will decide your fate based on the instructions on the relevant laws that they obtain from the judge. The judge will then determine your sentence but because of mandatory sentencing laws will have somewhat limited choices in determining the appropriate punishment.
Will you be prosecuted? Hmmmm, you have not done yourself any favors by working the fraud in four states. Any one of them could come after you. If I had to guess, I think you are safe until we get closer to the election cycle. Then, because of your much cherished celebrity status, your head will be taken for display in the public square. Ooops, wrong century, then you will be indicted by a Grand Jury and be introduced to the complex and incredibly expensive legal system. Uh, I might suggest a job between now and then, just to show the judge and jury. You are constantly talking about your intentions. A job and modest attempt to repay your creditors would go a long, long way in convincing your peers in the jury of your sincerity. Right now, it rings a little hollow.
Stray positive. Attach success. You can due it. Fail forehead.
coyote -
Casey-
If you defend yourself by claiming you were misled by professional “gurus”, then why not demonstrate good faith by exposing gurus who charge high fees for teaching and inducing others to commit fraud? You would get a lot of credit, and make a case for getting immunity in return for acting as a witness in a racketeering case against these gurus, if you would do that.
In fact, if you would bite the bullet and get a criminal lawyer on retainer, he might find a way for you to do that.
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Dude, you are such a tool. You managed to pretty much ruin your life and you take pictures of yourself doing backflips on a trampoline. You could have made 14 dollars working at mcdonalds during the two hours you spent on the trampoline. Another 14 dollars could be made during the time you spent at Jamba Juice. Together that is 28 dollars, WAAAAAAAY more than you have ever made from one of your sweet deals.
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“#69. jilly
February 19th, 2007 at 7:11 pmYou should really do your homework. Check this out. It’s from the IRS website on CONVICTED mortgage fraud cases -not hypotheticals - real people, real fraud, real time. Scary the resemblance.
I would pay more attention to what the IRS posts rather than what some bogus made up federal agent has to say. Check it out…
http://www.irs.gov/compliance/.....tml”
Did you see the conviction rate?
This post doesn’t make a point at all. The only point it makes is that Casey is unlikely to get prosecuted. Even if he does get investigated it doesn’t mean he will get sentenced.
According to those stats, approx. 400 people were investigated in 2006 and only 100 actually seen jail…
As far as mortgage fraud blog is concerned, they should start a blog that shows how many people get forgiven of mortgage fraud and don’t see any jail time.
Do you really think only 400 people have defaulted on their loans in America because they fudged some loan documents? I guaranteed you that, that 400 number is more accurate of people that should be investigated in Los Angeles alone.
The government is more interested in larger schemes, involving multiple people and multiple industries.
Yes some of the little people get get busted sometimes, and that is the group Casey is involved with, but as I said before its a numbers game…
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Casey,
Did this so called FBI claim he parachuted into Afghanistan in 2001 and had Bin Laden in his sights but the governement wouldn’t let him pull the trigger?
That’s called a troll dude. Get with the program. No wonder you’re such a mess.
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C’mon now, Casey.
How could you not know that you wouldn’t be living in 8 houses all at once? You know you can only claim one house as owner occupied?
Quit trying to play dumb! You lied not once, but 8 times!
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“NO, I didn’t inflate any values or am aware of any false appraisals.”
Yeah, right. Casey, would you please explain this in a little more detail? YOU ARE NOT AWARE OF ANY FALSE APPRAISALS? I have asked you repeatedly how you were able to get loans for amounts that exceeded the actual purchase price of the homes, but you continually ignore my question. HOW DID YOU GET AN A LOAN AND AN APPRAISAL THAT EXCEEDED THE ACTUAL PURCHASE PRICE? Are you honest enough to show us the contract and the appraisal?
As previously stated….
Casey you say you“paid” $330,000 for the Larchmont house, and admit you took cash back at escrow. A forensic examination reveals the fact that the property was being offer for $289,000, and the home had been on the market for an extended period of time at that price. Common sense would suggest the home is overpriced at $289,000, so a rational purchaser would offer an amount that is less than the asking price, so why did the house close at $330,000? Can you tell us?
Please tell us what the appraiser did to make that work, and then you can better explain how you were unaware of any “false appraisals.”
So Casey, do you have the fortitude to be honest? Care to publish that sales contract and that appraisal so that we can see how that “magic” was accomplished? If not, then “bag it” on your claims of honesty and innocence.
You can black out the names of the lender, agent, and appraiser of course. What else do you have to hide?
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That’s all I got.
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Hey Casey,
Can you walk us through a typical day? What do you do all day? Please be specific. For example, if you say “worked on a sweet deal” please break that down into actual things you did.Thanks
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Casey,
Many of the haters have explained why they hate you or root for you to get sent to jail. But I think what offends everyone the most… even more than your bank fraud… is that you simply refuse to work! Even given your ridiculously bad financial condition, you have totally failed to give the judge and jury a good reason to NOT hate you. You have many times commented that working isn’t worth your time.
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Tithing is biblical. Of course everything we have belongs to God, but the FIRST 10% is supposed to go to your church or mission. God commands it.
People that tithe regularly no matter their situation are blessed tenfold. I have lived it and seen it with my own eyes time and time again.
Hey Casey,
Can you share with us one or two of the new opportunities that have been presented to you. Just a general idea. How much money will you make? Are you going to buy an apartment complex? Give us some details! Yeah baby! -
Casey,
I was once called for jury dury in Sacramento and I was selected to be a juror in a case of a meth addict with a burglary problem. I indicated there was no way I could be impartial, the Sacramento DA’s success rate is fabulous. They don’t file cases they don’t intend to win. Your odds - ad.
I was dismissed from service.
If I was on your jury, I’d probably do anything I could to ensure you were punished. The drug addict had an excuse, he was a drug addict. You are just lazy.
The proof is here on this very blog.
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Casey - of course your going to Jail.
You signed a legal document ( the loan app ) stating that all the information was true. Why do you say this was a grey area ? Who told you this - they probably conspired with you.
You are underestimating the law here. You commited white collar crime and am sure will pay.
Can you please explain what you do each day,
Loads O Money
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Fraud = Crime
Crime = Time
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Casey,
You say that you were speeding, and got into a car crash. Now you’re trying to teach others not to speed.
But according to your own reasoning, shouldn’t you go to jail, then? Otherwise, won’t it prove to others there are no negative consequences to your behavior? After all, how have you suffered? You’re leading a perfectly normal life, and appear to be having a very good time.
I see you didn’t let this comment through last time. Truth hurts, eh?
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Here’s a fun game we can play - write Casey’s future posts! I’ll go first:
“Got following letter today:
‘Dear Casey,
I can no longer represent you. Your constant promises of payments for services rendered leave me no choice but to decline to represent you any longer as your legal counsel.
Time and again, you have used excuse after excuse to not remit payment. These excuses have included, but not been limited to, 1) increased church tithe; 2) higher Jamba Juice sales taxes; 3) paying back the carpenter who repaired your door after the FBI broke it down; and 4) paying monies owed to your divorce attorney.
Sadly, this leave me little option but to cease work on your upcoming parole hearing. ‘
What would you guys suggest? Should I try to do the parole hearing myself, or should I try to get another attorney? Can someone call CashCall for me?”
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SWEEEEEEEEEEEEET!
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@114 Mr Mortgage
The point is not that he is going to jail. The point is whether he should be relying on a bogus FBI agent post or should he be measuring his actions against real cases that resulted in real convictions.
Re read the IRS site and answer:
1. Has he commited any of the listed offenses?
2. Has he inflicted same or greater financial damage than any of the cases stated?
3. Do people go to jail for these offenses?Let’s also not forget that in the stated cases the realtors/brokers were pulling the scams. In our twisted case here we have the “investor” using multiple agents to buy homes at the same time fooling both realtors and banks.
You’re right that allot of cases don’t end up with convictions and jail time but 87% of those convicted do serve time.
I don’t know about you but if I had commited these crimes a 40% conviction rate would not make me sleep any better.
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I should have known you wouldn’t take me up on my offer to help find the missing Utah payment.
I suppose on some level I’d hoped you’d do the good and Christian thing for once and do right by the family in that house but then again… when was the last time you did the right thing, Casey?
You do nothing unless there’s a buck in it for you. Shame on you, Casey. Shame on you.
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READ THIS: NO MORE SHORT SALES; GET IT ALL FORECLOSED. SHORT SALES ARE TOO RISKY FOR YOU.
Read this:
From USA Today. “Here’s an alarming fact about Sacramento’s housing market: About one of every five existing homes on the market is a ’short sale.’ That means the home is worth less than the value of the mortgage, and the lender is willing to accept less than full repayment of the loan to avoid foreclosure, says Tracey Saizan, president of the Sacramento Association of Realtors.”“That, in turn, puts pressure on the remaining 80% of sellers, who have equity in their homes, to cut prices. ‘Sellers are having to give concessions and cut prices,’ Saizan says. ‘It’s all about making the house show the best it can and aggressive pricing.’”
The Contra Costa Times. “Homeowners should know that although debt can be forgiven, it’s never forgotten. When a short sale, deed-in-lieu agreement or foreclosure occurs and a residential lender loses money on a loan, the lender will most likely file the loss with the IRS, and the former homeowner may end up owing thousands of dollars in taxable income.”
“‘That’s probably where we see kind of the biggest surprise on the part of our clients,’ said Jackie Pearlman, senior tax research coordinator for H&R Block. ‘Not only are they not aware it existed but are very surprised to understand that it’s income. The concept is really alien to many people.’”
“‘We all know intuitively that if you borrow money you don’t have the income,’ said Bill Purdy, a Soquel-based attorney in Santa Cruz County who represents clients with home lending problems and foreclosures. ‘If you don’t have to pay it back, it can become income.’”
“But if the lender takes a loss selling a property, let’s say $100,000, the company will file with the IRS, and the client will receive a 1099-C for the amount.”
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I admire your guts but I think you and all those who helped you commit the fraud should not get away with it. My problem is that my pension fund probably has invested money to buy bundled loans. Loans like yours are probably included in that bunch. Someday, when you are 60 and irresponsible people screw up your pension you will understand what I mean.
The only way for fraud to be stopped is for people to go to jail for it. Who is the more serious threat to society? Someone who commits 2.2 million in fraud or someone that holds up a grocery store and steals 100 bucks.
Nothing personal, but I hope some DA leans on you to put some of those mortgage agents in jail.
You are a smart guy and I like your sense of humor, but what you did was wrong and because I love this country I hope you get some sort punishment
Mike
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1st: Late October trial
2nd: Early January Sentencing
3rd: 14 to 16 years (2 years per house)
4th: 9 more years of lingering legalities, parol, court supervision, community service, etc.
Estimates?
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After reading some of these comments, I will have to agree with Casey regarding “haters”.
These comments are really full of hate, or judgment at least.
While a lot of people judge Casey to be utterly helpless in his handling his problems, 90% of all commenters do not offer any constructive advice either.
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Yeah, Mr. Crash pretty much nailed it. Nobody has much pity for you since you’re not working.
Are you making $$$ off the blog and waiting for a book deal or something? Tell us the REAL STORY.
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Is there a reason you are deleting all my comments?
I used to be a supporter but now I’m hoping you get what you deserve.
Go ahead and delete this too I’ll just post it on all the other sites out there. You’ve run out of places to hide.
-Big Cheese
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Impossible is nothing. Fellow Kazakastani, we must believe in impossibility for that is the path to true success. Or something.
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How come my last post didn’t make it? Was the question about your moral obligation to maintain the properties to maximize their values for the lenders too direct and pointed?
You’re full of S and belong in jail.
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Please tell us what you do all day, I agree with Alexis. Details, not ‘work on deals’ and ‘network’, meaningless buzzwords that actually mean ‘goof off’.
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His life isn’t ruined. I saw a guy who stole millions in a check scam go to federal prison for 9 months and then get out with 5 years probation. He then moved to mortgage fraud where he was successful for 3 years and then caught after going to the well once too often.
So i figure Casey does 9 months and then 5 years from now get caught in another scam.
He’s a con man. It’s that simple. Guys like him never stop. Why should they? It’s their career.
People only say they are sorry after they are caught. They are sorry… they got caught that is. A minor bump in the road for con-men. It’s the price of doing business.
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To the person who mentioned http://www.mortgagefraudblog.com/
The majority of the people convicted of mortgage fraud are black or other non-whites. I can prove it.
Go to that site. Let’s look at some of the names of the convicted:
Candice Robinson, 27, Cleveland, Ohio (BLACK SOUNDING NAME)
Dwayne Smith (BLACK SOUNDING NAME)
Emmett Garfield Traylor (BLACK SOUNDING NAME)
Tyson Rondeau (BLACK SOUNDING NAME)
Anthony Bellettieri (ITALIAN… PROBABLY SICILIAN HERITAGE)
Robert C Thigpen and Erich J Haskell (OK… WHITE NAME)
Lavon Ivy (BLACK SOUNDING NAME)
Ayanna N Israel (TYPICAL CARRIBEAN BLACK NAME)
Nahum (Jeffery) St. Martin (BLACK MUSLIM CONVERT)
Mohammad “Mike” Taghie Kakvand (BLACK MUSLIM CONVERT)
Emmanuel Constant (HAITIAN BLACK.. he’s wanted in Haiti for leading right-wing FRAPH death squads, recieved USA asylum when left wing government took power briefly… )I could go on and on…. It’s obvious Casey Serin, a white hippy type, will not be convicted or even tried. Prosecutors don’t try cases to gain justice… they do it to further their careers, and make examples out of carefully targeted people.
Casey’s frauds were far worse than many of the people mentioned in that website… yet Casey is here, day after day, brazenly posting about his daily activities, and basically mocking the criminal justice system (I know that’s not what you set out to do, Casey… but that’s what is happening)
One of the previous commenters insinuated that Casey should worry; because his whiteness will make him a prosecutor’s target. Well, I think I’ve proven that Casey’s whiteness will exempt him from any prosecution in this unfair American “Justice” system.
I think Casey has a good heart… he just keeps getting into “another fine mess” as Laurel (or Hardy?) would say. But how many other people facing charges started out just trying to make a few extra bucks, provide for their families… and ended up in complicated fraud cases?
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Well, I see that you have managed to clear up the discrepancy with the comments count. Nice job Casey, win/win.
How many comments did you delete?
Have you gotten 3 jobs yet?
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You better post this Casey. You don’t post any of my stuff anymore.
Folks, Get a clue.
1. Casey doesn’t want a job so save your breath.
2. He is not remorseful for swindling the banks.
3. Casey thinks the banks are the swindlers.
4. Casey thinks the banks deserve to be “taken”.
5. Casey will do it again.
6. Casey is only remorseful over running out of ideas for more swindling.
7. Casey doesn’t need your advice. His mind is made up.
8. Casey will not admit he couldn’t have done this swindling without other peoples help.
9. You can lead a horse to the water but you cannot force him to take a drink.
10 Casey is a good example of how not to get emotionally attached to your real estate.
Now post this C. The blog is too sterile and watered down with all the moderating. It was better when there was less censorship. T you -
You should go to jail because:
1. while lots of people get stated income loans, lots of people don’t get 8 of them in 8 months. Also, you might could say you didn’t know any better on the first one, but on the 8th one… who you kidding.
2. you got cash back on some of the transactions and failed to use it for what the cash back was intended for (i.e. you pocketed it instead - aka FRAUD)
3. Once you realized you were @*&!#% you decide you’re going to attempt to capitalize on your failure and make some money off of it by creating this blog and even went as far as to sign contracts with publishing/entertainment agents. Is this how you planned to pay those dirty little pennies back?
4. You are the exception. And while it may be true that mortgage fraud goes un-prosecuted most of the time, you are the exception in that the extent of your fraud is great, much greater than the average lie-on-your-loan-application for your single family that you plan to live in kind of borrower. Follow the money trail - who benefited from the cash back (hot cash back).
5. This blog is going to be your death. You do have the exposure… just the kind of exposure needed to make the example out of you. (i.e. Martha S****** ) An example should be made of you as it will deter others from committing similar fraud.
6. Your fraud costs US real money (us being the pay-your-bills kind of people). We pay higher rates and fees because of people like you. It’s that simple. I don’t want to subsidize you failed business attempts.
7. You are such an idiot that I actually want to see you prosecuted for this now. Ignorance is not a crime, but it should be. There is enough ignorant people in this world to qualify for the death penalty.
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Casey,
deserve’s got nothing to do with it.
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#114 Mr. Mortgage:
“The government is more interested in larger schemes, involving multiple people and multiple industries.”
Ahh, but you don’t build Rome in a single day, chum.
It starts with putting one little brick on top of another, doesn’t it?
Here’s how it’ll work:
Casey gets put in the interrogation “hot-box”, and all his signatures on the loan docs are there to see…all his expenditures to Hawaii and “MakeAMillion” seminars are laid out right there…his e-mailed Ponzi Scheme (24% return!!!???!!!)…right there.
Everything is on the table, along with a tube of prison butt-lube, ‘cuz the lad is screwed.
The Man says:
“Sing, Casey, Sing!”
And Casey sings like his butt depends on it…hobbit pukes up every single name he has stored in his mind, where the Jamba-Juice goes “in”, the names of Casey’s childhood friends in Uzbekistan come “out”.
The Man reviews all the names Casey has disgorged and runs ‘em through the computer…someone might be a Person of Interest somewhere for something.
Then The Man calls in Assessor Boy into the ‘hot-box”…same drill…bogus assessments with AssessBoy’s signature all over ‘em, (and probably not just from Casey’s case either…
“Name names, pal”.
Same after-action as before…database search.
Somewhere between Casey and AssessBoy, some name will be mentioned by both, (a loan officer? a realtor? both are highly likely).
Guess who gets the “hot box” next?
And it goes on like this, each punk squealing on a bigger fish, each interview adding another layer of evidence…frankly, you can take it as high as you want to go, just as long as you have subpoena power and a righteous evidence trail of signatures on bogus documents…and you don’t go so high that political considerations start becoming a factor.
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@137. Closed
These comments are really full of hate, or judgment at least.While a lot of people judge Casey to be utterly helpless in his handling his problems, 90% of all commenters do not offer any constructive advice either.
Please read Casey’s blog from the beginning and pay particular attention to the number of individuals who did offer him constructive advice. Please also note how he ever so casually ignored said advice and proceeded to consistently make the wrong decision time after time.
@Casey
You should go to jail for mortgage fraud because you committed mortgage fraud. You purposely lied in order to obtain owner-occupant loans, knowing full well that you could not inhabit eight houses at the same time. Whether you were advised to do so or not, whether “everyone else” was doing it or not, YOU did it and you did so intentionally.Add to that the fact that you took cash back at closing from each of your loans and did not invest it in repairing the homes. Rather you squandered that money on Jamba Juices, dinners at the Macaroni Grill and real estate “colleges”. With as much money as you wasted indiscriminately, you could have bought a Jamba Juice store.
You lied. You stole from the banks. You have demonstrated no intent to pay back “every dirty penny” except for your posting pathetic promises on this blog. You are a crook; crooks go to jail.
Were you a young, naive individual who was innocently caught up in the adrenalin rush while making sweet deal after sweet deal, one might be tempted to overlook your lies. You, however, are simply another confidence man attempting to scam the American people into defending your voracious avarice.
IOW: Go to Jail. Go directly to Jail. Do not pass Go. Do not collect $200.
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@137. Closed
These comments are really full of hate, or judgment at least.While a lot of people judge Casey to be utterly helpless in his handling his problems, 90% of all commenters do not offer any constructive advice either.
Please read Casey’s blog from the beginning and pay particular attention to the number of individuals who did offer him constructive advice. Please also note how he ever so casually ignored said advice and proceeded to consistently make the wrong decision time after time.
@Casey
You should go to jail for mortgage fraud because you committed mortgage fraud. You purposely lied in order to obtain owner-occupant loans, knowing full well that you could not inhabit eight houses at the same time. Whether you were advised to do so or not, whether “everyone else” was doing it or not, YOU did it and you did so intentionally.Add to that the fact that you took cash back at closing from each of your loans and did not invest it in repairing the homes. Rather you squandered that money on Jamba Juices, dinners at the Macaroni Grill and real estate “colleges”. With as much money as you wasted indiscriminately, you could have bought a Jamba Juice store.
You lied. You stole from the banks. You have demonstrated no intent to pay back “every dirty penny” except for your posting pathetic promises on this blog. You are a crook; crooks go to jail.
Were you a young, naive individual who was innocently caught up in the adrenalin rush while making “sweet deal” after “sweet deal”, one might be tempted to overlook your lies. You, sir, are simply another confidence man attempting to scam the American people into defending your voracious avarice.
IOW: Go to Jail. Go directly to Jail. Do not pass Go. Do not collect $200.
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@Jilly
#132. jilly
February 20th, 2007 at 6:23 pm@114 Mr Mortgage
The point is not that he is going to jail. The point is whether he should be relying on a bogus FBI agent post or should he be measuring his actions against real cases that resulted in real convictions.
Re read the IRS site and answer:
1. Has he commited any of the listed offenses?
2. Has he inflicted same or greater financial damage than any of the cases stated?
3. Do people go to jail for these offenses?Let’s also not forget that in the stated cases the realtors/brokers were pulling the scams. In our twisted case here we have the “investor” using multiple agents to buy homes at the same time fooling both realtors and banks.
You’re right that allot of cases don’t end up with convictions and jail time but 87% of those convicted do serve time.
I don’t know about you but if I had committed these crimes a 40% conviction rate would not make me sleep any better.
Like I said before, its a numbers game, people get away with worse and jailed for less in mortgage fraud…
The only reason why Casey’s odds might be higher than “mine or yours” is because he’s went public with it.
For the average joe, he has about a 10% chance of getting investigated for a crime of this level not 40%….
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Casey,
Did you read the other part of Nigel’s post about your needing to get a job?
How’s the job hunt going? Had any interviews with MorganStanley or Citigroup, yet?
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Ref: My Post #149
1. while lots of people get stated income loans, lots of people don’t get 8 of them in 8 months. Also, you might could say you didn’t know any better on the first one, but on the 8th one… who you kidding.
As someone currently in the middle of a HUGE mortgage invest I have to tell you that you are wrong about the 8/8 stated income loans. I have seen them 3 in two days and 6 more with-in the year all by the same person. It is (was) pretty easy to do if you have the right people involved.
Don’t forget…mortgage fruad is like an onion….there are always many layers to peel away. There are many people involved in the fraud….the buyer, title company, broker(s), loan officers, others that work for the lender and just friends who get kickbacks.
There are people who don’t make enough money to pay their heating bill yet they buy 5 houses with a credit rating of 550 and a ton of delinquencies.
Stated income? hahahahahaha. I wish I could tell you the scam i discovered. Maybe after they get convicted. then it’s RICO time on the next batch.
From what I’ve seen nothing suprises me.
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It’s 12:55 PST
Casey’s latest entry is entitled “Attorneys Say Corporate Credit is OK Need a Plan”
76 comments
PAGE NOT FOUND ????????????????????
What is wrong with this blog Casey?
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REF #151.
Here is some constructive advice. Plea bargin to some felony 5’s if you can. Do as little time as you can. You are guilty of several crimes. TCB and move on to your next scam.He’s a fraudster and he got caught. Like I posted before. This is his profession. This is the price of doing business. This is just a hic-up in his grand scheme. Which is make millions with as little “effort’ as possible and then live the good life. Believe me when i tell you this. He’s a hard worker. No doubt about it. He is a career criminal just starting out.
This is what he wants to be. He is doing exactly what he wants to do including this blog. Con-men capitalize on their personality. That’s how they suck you in to their con. We are all conned. He’s pretty good. Don’t forget he’s only 24..right? Wait until he’s done some time and meets other fraudsters in jail.. He’ll learn what not to do. Oh..he’ll get caught again but it’ll be down the road and there will be money socked away for when he gets out.
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out how to defraud the banking system and dig yourself into a deep financial abyss. You have got to check this out. Mr. Serin purchased 8 properties in 8 months with no money down and now may face jail time for admitted mortgage fraud. Check out “Why Should I Go To Jail for Mortgage Fraud?” on his blog I am Facing Foreclosure.com. Casey Serin is alleging on his blog that what he did was “gray area” that he believed most in the industry practiced. Today’s entry on his blog informs his readers that he found attorneys who have given him
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maybe they will write about u like martha s****** ..
dont get traded for ciggarettes in jail. now bend over!!
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you are a CROOK. tirfe thieve.
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i will still write u when ur in jail. u might be srry. but u commited a crime. so out of a 8-10 yr punishment u might only get 4 or 5 years in prison. if u get an attorney theres more useless money to waste.then ull get in more trouble”whered u get the money for an attorney when u could of payed that back as a payment?”
if martha s****** can survive then you can too…….nevermind, she was “ACTUALLY SUCCESSFUL”
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Casey,
You need to mock the authorities more with comments like “going under the radar”.
That was Sweet 8=) Do more dude!
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I’m sorry to say it to you haters, but Casey is completely correct. Why should he be put in jail, much less arrested and charged with a crime? History is simply a retelling of selected facts and figures to support the winners in each era. The winners of the 21st Century will be the speculators. The rest of us will have to make do with a few silver coins, AK-47s, and live-in Hondas and tent cities. In contrast, the speculators will live like gods (until they bust).
The point is to position yourself to JOIN the speculators and avoid standing in the huge soup line that will be the 21st Century. Lesser men will fall by the wayside. Elevate yourself.
In part, that’s why lies and fraud are perfectly OK.
Look, surely some people here know of the old saying:
“If you’re broke and owe the bank $1000, then you’re in trouble.
If you’re broke and owe the bank $1000000, then THE BANK is in trouble.”Casey is nowhere near in trouble when compared to the economic risks that his lenders took. Since the system itself indulged an enormous appetite for risk, he is essentially free and clear since his lenders have much, much bigger worries than pursuing a civil or criminal case against only one (and we must note, completely BROKE) client.
Look at this another way: when looting breaks out, then looting is the smart thing to do, and for a time looting is effectively NOT illegal and the risks of looting are carried INSTEAD by the property owners, not the looters. Of course, that speaks of the importance of timing. But! ….
BUT! I said before, the 21st Century will be dominated by the new economic model of the SPECULATOR. In the 20th Century, all US government alignments started to seriously lean towards securing corporate profits instead of safeguarding silly things like personal rights. By the 1990s this transition was essentially complete and the common citizen had next to no rights when compared to the corporations which now ruled him. Corporations could literally kill people intentionally and at worst only pay tiny fines. But the US government is always taking trending steps, and the next trend is still rising and is a natural consequence of the previous trend-step. The new trend is in securing paper profits over physical profits. This is the natural environment of the speculator. Hence, the 21st Century will be dominated by the presence of the speculator. We are now in the Speculator’s Century.
Why does a millionaire actually own more property than 1000 common men can suitably manage? The millionaire isn’t 1000 times as smart, or quick, and neither does he have 1000 times as much time or energy as that crowd of other men. What really secures his massive set of property? THE LAW. Our legal structure is the only thing that allows a man to have more than he should. At the heart of it, it’s the raw BELIEF that a millionaire can actually own all that stuff. So, since violent revolutions in the First World are now impossible, there’s really no limit at all to how much 1 man can own. So … why not try to own everything?
This brings us back to speculators. The US government has essentially secured corporate rule of the people, so it’s now up to the speculators to participate in such rule by manipulating (or as the modern naivete goes, “defrauding”) real assets with unreal-asset tools (i.e. paper and electrons) in order to produce even greater control over largely- and realistically-uncontrollable assets in the first place. If it was dead easy to control 1000 shares of a corporation with a value of $50000, then with an essentially zero margin of effort, 1000 times that amount of shares can be controlled … and all that takes is a cultural shift away from the outmoded ideas of rational investment and sustainable production.
Casey is the John Galt of the 21st Century, literally standing atop a huge book with the title “ARMs Shrugged”. He may still fall under the grinding wheels of history, but men like him will forge the new order whether you like it or not. You still pay your taxes so that your government can then hire and outfit SWAT teams who can then kick down your door and murder you. Until the general public revolts (which is, as I’ve said, impossible for the First World) then the same general public is only working to place themselves into a debt slavery that will never end. Casey is only asking “How can I get a piece of that action?”
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There are several ways that you can stop foreclosure and find money. No internet scams, or kits to buy. i write a new article everyday and i recently wrote one about how to stop foreclosure. check http://www.blogsomebody.com for more info
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Look, I think you don’t have to go to jail but I think a lot of people including myself hate you so much because you and the rest of the speculators drove up the real estate prices for us ordinary folks that just makes a living. For people that owns a single home and doesn’t own multiple units it doesn’t matter how much prices go up but the only thing i hate is when we move we had to pay up for prices in which you people drove up with no intentions of living in. Also, with the high prices being driven up, the property taxes would also be much higher. Its a lose-lose situation for ordinary people that just make a living doing a job 9-5 and now we all will probably have to pay the price of the speculators as the sub-prime mortage market melts down and most likely drag the economy down with it. Much like the stock bubble, in the end everyone pays the price because of specualtors that drove up the stock market drove up the real estate market - everyone pays in one form or another!
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Casey,
You broke the law, and probably deserve to
go to jail. On the other hand, I’m not sure
I wanna pay the taxes to build enough jails
to house everyone who did as you did.
Overdosing on The American Dream a crime?
I dunno. In the final analysis, you (times thousands)
robbed me, a would-be San Diego home buyer.
Your (collective) irresponsibility made it impossible
for me to buy a home responsibly. But I’m not
ready to nail you to a cross for it.
The Market will administer justice, those in need
of education will receive it.
I’ll enjoy the spectacle. -
more haters out there. There’s no doubt that many people are quite angry and eager to see him pay for the “entrepreneurial and financial sins” that he’s committed. Some people weren’t shy about calling out these transgressions as mortgage fraud. Was he playing the system and got busted, or was he just a sad, foolish victim of greed? Was he just a sorry casualty of the real estate bubble? That’s up to the proper authorities to look into as I prefer to focus on more positive take-aways.
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Ignorance is no defense. You have, in effect, robbed banks.
Why do you think they had you sign all those documents?
If the feds get a radar lock on your scams you are done, your only hope is you are too small a fish and that they don’t have time for all of these RE scams. Then again you are an easy score for them.
You won’t see them coming, they will just appear one day.If they indict you, it is all on the paper sitting at the bank’s offices, and will be very easy to prove the pattern to a jury.
You can’t possibly afford the legal defense it would take to cast doubt. Anybody involved will rat you out to avoid conviction so they will testfy against you.This will be a plea bargin. Big jail time, I think not. BK,definitely.
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Ok. . .want another reason why you should go to jail? Want another example of how you have destroyed lives? Check this out: because of the high default rate of risky loans (stated income, high loan to value, questionable occupancy) over 1000 in the California area are out of jobs as of today. The mortgage companies that these people worked for, many of them for many, many years with many, many hours of hard work (you probably have no idea what I am speaking about - ask your neighbor with the bags under his eyes–he knows) have gone out of business because of defaulted loans. Everyone wants to believe that the banks have all the money in the world to piss away on losers like you, but the truth is that the profit margin that the banks make on the money they borrow to loan you is very, very slim. Taking back your crappy house after it has been sitting vacant for the year it took them to get your sorry butt out of there is not what they want nor what keeps them in business. They want you to be honest (it’s the law - surprise, surprise!) and to pay the loan back. Period. I have been in the mortgage business for over 15 years and before I stand in the unemployment line (and it’s coming soon for me and the 170 employees of my company due to wonderful clients like you) I will go work for whatever government agency needs me to consult so I can help bust guys like you and see them put in jail. See you did serve a purpose! Maybe one day you can get a real job, act like a real person and hire some of these people that you have stepped on on your way to make a fast buck and start reapying society as well as repaying your debts. Someone should have told you - nothing in life is free OR easy. I personally hope you do 25 years in the federal pen. And “yes” I am a hater - I, and everyone I work with, has every right to be.
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You should be placed in a correctional facility so that you get necessary help and become a productive member of the society. Unfortunately your illness has reached such a severe form, because you let it regress to this point, that jail is the only thing that can help you in my opinion.
If you don’t believe this to be the case, seek professional help, by that i mean that of a medical doctor, not a real estate seminar sales person.
Good luck, you are going to need it! -
I just can’t imagine the hell you’ve put your parents through.
But if they knew about these antics, and had even protested - you probably would have ignored them.
You’re just a small step above those violent criminals paraded across the news. Ever wonder what those parents get to go through? The self doubt and second guessing they inflict upon themselves?
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Get Foreclosure Help by Drinking Fresh Juice My First Trustee Sale / Foreclosure Auction Results Foreclosure Auction On Monday I am Facing Foreclosure Fan Mail Attorneys Say Corporate Credit is OK, Need a Plan Why Should I Go To Jail For Mortgage Fraud? Casey Serin Satire - Pictures and Song New Mexico Foreclosure Rescheduled, More Time For Short Sale Good Things Are Coming… View All Entries »
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Baby boomers have been happy to unload their inlfated homes to their friends kids. Real estate agents and mortgage jokers also made plenty of money helping to fool the uninformed. What people needed to understand was what I was saying on my radio show in sept of 2005 and that is”
a.) TIMING IS EVERYTHING
b.) Stated income created a credit bubble that would end like the Japanese market in the 1990’s.
Builder also made billions in profit selling retail homes. HMO’s saw their profits increase 60% in a recent year and wall Street payed billions in bonuses. Where did that money come from and what is the solution?
www.smartadjustments.com/takecontrol -
Casey is a sociopath, plain and simple.
I knew from the get-go that his website had one goal - which is to try and make him look like “not such a bad guy”.
Well, he is a bad guy. He stole millions from banks through fraud and like every other white collar criminal he is trying to downplay it because there wasn’t a gun involved.
Whether that accountant/interrogator story is real or not, I do agree with its conclusion, which is that the banks will resist going to court and pressing the matter because of their own reputations.
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want to work with a person or site that contains so much negativity. As a investor myself I wouldn’t want my name associated with the type of comments that are posted on Casey’s site. Casey has also stated once or twice that he didn’t understand why people continue to put him down. The simple solution is to moderate the comments where you may have an open dialog, but without all of the negativity. Well in the long run we will see where Casey Serin will end up. I actually look forward to a comeback story, but I am also not
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want to work with a person or site that contains so much negativity. As a investor myself I wouldn’t want my name associated with the type of comments that are posted on Casey’s site. Casey has also stated once or twice that he didn’t understand why people continue to put him down. The simple solution is to moderate the comments where you may have an open dialog, but without all of the negativity. Well in the long run we will see where Casey Serin will end up. I actually look forward to a comeback story, but I am also not
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