Mortgage Lenders Network Sues Appraisers and Broker

Allison Tussey —  December 21, 2004 — 2 Comments

Click here to view Complaint – Mortgage Lenders Network USA, Inc. v. Adkins Appraisal Services, Inc. et al.

On December 14, 2004, Mortgage Lenders Network USA, Inc. of Middletown, Connecticut filed a civil lawsuit alleging, among other things, violation of the Racketeer Influenced and Corrupt Organizations Act (“RICO”) against the following defendants:

Adkins Appraisal Services, Inc., Sylvania, Ohio

Debra Adkins, Sylvania, Ohio

Jay Riccardi, Toledo, Ohio

David G. Anderson, Bowling Green, Ohio

Emilio Soli, Stow Ohio

Global Mortgage Co. is mentioned in the complaint as a non-party Ohio corporation that conducted business as a mortgage broker in Ohio and is no longer a viable corporation. The complaint alleges that Anderson and Soli were affiliated with Global.

The complaint alleges that from March to September 2000, Adkins Appraisal, Debra Adkins and/or Jay Riccardi conspired with Global Mortgage, Anderson and/or Soli, to provide false and fraudulent appraisals of residential properties in return for payment either from Global or the residential borrowers. The complaint further alleges that Global submitted the appraisals with loan applications and that Mortgage Lenders Network made loans in reliance on the appraisals. The complaint identifies 19 specific Ohio properties in Toledo, Findlay, Columbus, Westerville, Lima, Upper Sandusky, Vanlue, Grand Rapids, Galion and Sycamore. The complaint seeks compensatory damages of at least $250,000.

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2 responses to Mortgage Lenders Network Sues Appraisers and Broker

  1. who is handling the settlement of MLN loans for property in Maine? I hold a sedcond mtg on a property in default with an MLN first loan.

  2. cassandra grace June 25, 2013 at 7:35 pm

    I inform any one who has any with mln they owe me 32, 125.00 which my mother was frauded by bank one which do justice is to contact me by email and let me know I will file a legal action and give all the documents to our press and media


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