August 26, 2008, - 10:17 am
By Debbie Schlussel
Michigan is now in third place among states with the highest rates of mortgage fraud. And it’s not just the poor Michigan economy or the languishing death of the auto industry.
As I’ve noted before, it’s Hezbollah. One of the cities with the highest rate of foreclosures is Dearbornistan. Not by accident. A number of Shi’ite Muslim mortgage defrauders–many of whom I’ve noted on this site–used mortgage fraud to help make quick, large sums of cash, then sent it “back home” to Hezbollah in Lebanon. (And this isn’t just a Shi’ite or Hezbo phenomenon. Religion of Peace members from the Sunni/HAMAS/Al-Qaeda side have used the same schemes.)
Well, now even an NBA multi-millionaire got in on the act. Because, apparently, the NBA gazillions just weren’t enough for Lindsay Hunter. He’s under investigation by the FBI for mortgage fraud. And it appears he was engaged in it, allowing a third party to use his bank account as a fraudulent indication of an inflated income in order to qualify for a mortgage.
Yup, Lindsay Hunter couldn’t spare any of his millions to pay for the dude’s house. But your millions–in terms of higher fees banks will charge you to pick up the slack–no prob. What–you say you don’t have millions? Well, what does Hunter care? He’s still got his. And is laughing all the way to the bank. For now.
Let’s see if the Detroit Pistons have any backbone and if owner William Davidson says, “I won’t have a mortgage defrauder on my team. We paid him millions, but it wasn’t enough to satisfy his greed. So, buh-bye.” (Full disclosure: I went to school with Davidson’s kids Ethan and Marla, and Davidson was a large contributor to my campaigns for the Michigan House of Representatives. He’s generally a good and decent guy, but for those glass plants he owns in Saudi Arabia.)
Here’s the scoop:
The FBI is investigating whether Pistons guard Lindsey Hunter and business associates duped a $35,000-a-year boiler operator for Pontiac Public Schools into buying a $1.25-million house in Bloomfield Hills that he couldn’t afford, the man’s lawyer said Monday.
Attorney Michael J. Smith of Sterling Heights said his client, Bruce McClellan of Waterford Township, recently told the FBI that Hunter and Iron Johnson, Hunter’s partner in L&I Enterprises, promised to pay him $300,000 in 2007 to buy the house in the 1700 block of Morningside Way. The deal called for McClellan to hold the house for one or two months until it could be purchased by someone else.
But the purchaser never materialized, McClellan never got his $300,000, his excellent credit rating is ruined and the house went into foreclosure, McClellan told the FBI.
Yup, that’s the classic mortgage fraud scheme. That’s how they do it. A lot of the Muslims in Dearbornistan get a Black person with good credit to do this and then they pay him a few thousand in cash for the privilege of ruining that credit (and pocketing their hundreds of thousands in cool cash).
Smith told the Free Press he’s contemplating suing Hunter and others to recover damages for McClellan, who is on the hook for the $1.25 million mortgage. . . .
McClellan told the FBI that he bought a car from Johnson, who discovered that McClellan had excellent credit and introduced him to Hunter.
McClellan said Johnson and Hunter then proposed the real estate deal. Although he told them he couldn’t afford such an expensive house, McClellan told the FBI they told him not to worry.
Hunter then added McClellan’s name to his checking account, making it appear to potential lenders that McClellan had a substantial income to go with his excellent credit score, a source familiar with the investigation told the Free Press.
McClellan said he closed on the house in April 2007, but never lived in it and no buyer ever materialized. He told the FBI that he saw Hunter’s vehicles sitting in the driveway on multiple occasions.
McClellan told the FBI he was unable to make the $11,500 monthly payments on the house, ownership of which is reverting back to the mortgage company, Countrywide Home Loans, Inc. Smith said McClellan would be responsible for any difference between what is owed on the mortgage and its eventual sales price. . . .
Meanwhile, the Wayne County Sheriff’s Office confirmed Monday that a deputy assigned to the Wayne County mortgage fraud task force is investigating a separate real estate transaction in which Hunter appears to be the victim.
Victim? Right. Clearly, Lindsay Hunter is well-schooled on the ins and outs of mortgage fraud. I doubt he let anyone take advantage of him.
BTW, I’m not saying this man, McLellan, is innocent here, either. I think he knew he was breaking the law when Hunter proposed the deal and the bank account fraud. No-one pays you $300,000 to briefly buy a house . . . unless they’re committing mortgage fraud, money-laundering, or both. Both should be punished.
Oh, and Hunter’s been in trouble in the past:
Hunter, 37, was a Pistons’ first-round draft pick in 1993. In March 2007, he was suspended for 10 games by the NBA for testing positive for the banned substance phentermine, a prescription amphetamine.
Hunter called it a stupid mistake, blaming the positive test on a diet pill he received from his wife, Ivy.
Blaming it on his wife–whatta man.
His contract is up, and it’s unclear if the Pistons plan to sign him for a 16th season. He is coming off a two-year, $4.5-million deal.
Hmmm . . . $4.5 mill per year was not enough. How do you spell Greed? L-I-N-D-S-A-Y-H-U-N-T-E-R.
Lindsay Hunter: Fancy, pretentious name, not-so-fancy activities.