Indiana couple accuses Bank of America of racketeering

IBJ.com ^ | 10/20/10

[Kartographer]

Bank of America Corp. and its Countrywide Home Loans unit were accused of racketeering in a lawsuit filed by two Indiana residents claiming that perjured affidavits were used to foreclose on their home.

Dwayne Ransom Davis and Melisa Davis filed the complaint Tuesday in federal court in Indianapolis. Their lawyer, Irwin Levin, confirmed the filing in a phone interview, but it couldn’t be independently verified.

“The defendants and their cohorts engaged in a pattern of racketeering activity in which they routinely and repeatedly prepared perjured affidavits in order to rapidly churn foreclosures,” the couple said in the complaint.

[Kartographer]

What they really need to worry about is if the 'Outfit' starts thing that they are trying to make a move on the loan 'sharking' operations it could start a war. ;-)

[Kartographer]

PING!

[ColdOne]

What is going on with BofA? Is the WH going to shut them down? Not WH friendly?

[Frantzie]

B of A is pro illegal alien. Let em eat cake.

[Chunga85]

TIME.com asks "Will the Federal Reserve Cause a Civil War?

Thanks for the ping!

[Lurker]

Civil RICO actions carry treble damages.

[ColdOne]

B of A is pro illegal alien. Let em eat cake. I forgot about that.. Thanks for reminding me. I never liked them to begin with. Grandmother had huge issues with them back in the day!

[ColdOne]

Thank You for that link!

[donna]

Let’s ask the correct question: Were they making their house payments?

If not, what right do they have to complain about how the foreclosure paperwork was done?

[ex-Texan]

In my personal opinion "quantitative easing" or QE2 is a complex propaganda term meant to deceive the public. "Quantitative easing" does not ease anything except make banks more flush with tons of paper currency at taxpayer expense.

In theory this action by the Fed loosens up credit. But today, hardly any mortgage banks are lending money without 20% down at a minimum combined with A+++ perfect credit. The only credit lines that are truly eased is bank-to-bank lending. In effect, this is a magnificent fraud on the public by The Fed and the international banking cabal.

But monetary burdens on taxpaying Americans are not eased -- they are increased exponentially.

How many $$$$ Trillions in Monopoly Money have been printed during the past two years by Bernanke ___ ?

Nobody knows. It's all a treated as a 'state secret.' Just like statistics on which banks are getting direct loans from the Federal Reserve. There is no transparency in our corrupt banking system.

The truth is masked by complex banking 'terms of art,' and pure Nazi-Like Propaganda -- designed to mislead, and smoke and mirrors. In short, its all lies . . .

A hat tip to M. Espinola for the news source above.

[Codeflier]

The article seems to be saying that the foreclosure was correct, just the process was wrong. It says they are not asking to reverse the foreclosure, just for monetary damages.

In other words a bunch of deadbeats are about to get wealthy, while us suckers have been paying our bills. What a dope I have been to save and pay my bills!

[stephenjohnbanker]

B of A was the first to pander to illegal aliens, as they figured out how to charge them outlandish fwws for money wires, and other things

[donna]

And the lawyers who cooked it up get rich.

[stephenjohnbanker]

” In theory this action by the Fed loosens up credit. But today, hardly any mortgage banks are lending money without 20% down at a minimum combined with A+++ perfect credit. The only credit lines that are truly eased is bank-to-bank lending. In effect, this is a magnificent fraud on the public by The Fed and the international banking cabal. “

You nailed it.

[Kartographer]

So if they commit fraud then what makes you think they won't commit fraud on you? And if they did what gives you a right to question their paperwork as you already diened the right to others? Lastly if you don't have to prove you own the mortgage what's to keep just anyone from foreclosing? Believe me if you deny the requirement to proved the legally required paperwork you will open the door to every fraudster in the world. But I again state the law requires that when you foreclose you proved to the court certain paperwork if you choose to ignore the law what good is it? Why have it at all? Hell why even require them to go to court, just allow them to send a bunch of thugs over and throw the 'dead beats' out. If the banks can ignore the foreclosure laws what other laws will they or you choose for them to ignore? I ask you one more question when the various fraud, forgery and prejury charges finally come to court do you think for one minute that the banks and their lawyers won't defend themselves using every shield that the law allows to limit their exposure? You think for one minute they won't be bank officials, lawyers, mortgage and security compnay officials pleding the fifth? In fact why have a trail for them we know that the commited these illegal acts so using your logic we should be able to skip the trail and just send them straight to jail! As I said I fear people like you and the damage you would do to the Republic by choosing to ignore the rule of law and take away the rights of others more than I fear the damage that will be caused by all the ‘dead beats’ and the crooked bankers and lawyers.

[donna]

Fraud should be punished.

But the delinquent homeowner is not the one who is defrauded. They have suffered no damage done by the bank.

[Kartographer]

They have been denied due process according to the law. You would legalize a court proceeding based of forged documents and perjury? What other laws would you allow the banks to ignore? Every state requires that the entity asking for the foreclosure be required to show standing and that they show that they in fact hold the mortgage that's all the banks are being asked to do and they can't do that. If you don't require at least proof anyone and I mean anyone can come forward with forged documents and mover for a foreclosure on anyone and you don't think that would lead to more fraud and then to chaos?

[donna]

Be cheerful, your way is what they are going to do. We will cough up more money to payoff the people not paying their bills - out of the pockets of those who do pay their bills.

[redgolum]

The law is the law. Either the banks follow the law, or they suffer the consequences. Same with the home owner.

I don’t think you understand what you are saying. If someone can foreclose on something they can not prove that they have a right to, we are in for big trouble.

[donna]

I’m saying the home owner has no standing. They were not damaged. They are just trying to get free money with the help of stinkin’ lawyers.

The investors are the ones that were cheated.