Russell Lee Parker, Jr, 51, and Dale A. Beardsley, 59, a Jacksonville, Florida attorney, were indicted and arrested on charges of mail fraud, wire fraud, bank fraud, money laundering and conspiracy for their roles in a mortgage fraud scheme.
The indictment alleges that Parker or his associates solicited individuals to invest in residential real estate. These investors were told they would not have to pay any costs or fees and once they purchased four properties, they would be paid $15,000. A Jacksonville, Florida mortgage company was used to process fraudulent loan applications that contained misrepresentations as to income and assets. Officials said the scheme began in 2001. At the height of the scheme, Beardsley and Parker bought as many as five properties a week, profiting as much as $10,000 per loan.
Mrs. Dollar,
A little over a year ago, I got schemed in the Russell Parker, Dale Beardsley scheme(Jacksonville, FL). I was recruited by Dr. Robert Gibson at a church and he said he wanted to help minorities get into real estate. At the closing, it was Mr. Parker that did the signing. I have since realized that he was signing someone else’s name. The house was over appraised. The house is not in the best neighborhood so that has made it difficult to sell at almost twice what it is worth. I can no longer afford the house, but my mortgage company has agreed for me to do a short sale on the house. Recently I found out the house was condemned before I purchased the house because it was vacant and open. The condemned signed was recently placed back up and that does not impress any buyer. How can I get out of this?
Shut up you people are pathetic