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• Comment Link Thursday, July 23 2009 16:03 posted by Andrew

  I had a commercial loan with a Bank for four years never late on a payment and after huricain Katerina I approached my bank to pull some funds out of the equity value ($745,000.00)in the building due to the impact on my clients and my income was going to be slow incoming in. They called my loan and filed lawsuits against me and my company when they new I needed assistance. I contacted a new lender to refi my loan. They agreed to refi the loan and days before they completed the building appraisal I received lawsuits from my Bank. After the law suites came just days before the building appraisal, the new Lender refused to refi the building. Subsequently after approaching three other Banks and an investor where my Bank provided false information to the new perspective lenders,I executed a sales contract on my building. The Bank set up a third party, fraudulant shell company, and instead of giving my buyer the payoff amount ($197,000.00 plus expenses). He interfered as a third party to sell my property to my buyer for $35,000.00 less than our executed sales price agreement. And claimed it was a short shell. Note, their was an existing executed sales contract four weeks and preliminary contract executed six weeks before the fraud. He subsequently claimed he sold it at "Public Auction" as well. If so, it would be "Public Auction Fraud". Also the funds above the principal amount and fees due the Bank have never been recovered and returned to me as required by State Law. This is theft of funds. In addition (1099A or C)& 1098S required by IRS Federal laws were not provided after numerous requests. These required forms indicate sales amount and who bought and sold the building. The IRS required and directed that I contact the FBI and transmit my documents for their investigation. One last thought, the building was partial rented out to cover the debt and my monthly payments on the loan. The renter who I was helping was known also by the Bank. The renter was "Habitat for Humanity" an Affliate who was assisting in huricain Katerina and built 27 homes in three years in South Atlanta area. This affliate closed its doors permanently after leaving my building because of the actions by these Banks and their shell company, and their Agents, two sets of Attorneys for each Bank. This is Banking in America. What I have described is true and you would think what I have just described was in a "Banana Republic" and/or developing third world country. TRUST is broken. The Public no longer belives in the Finacial Gate Keepers,the Bankers, because of these Banks and their Agents Predator/Criminal Behavior and GREED. What do you think? Am I over reacting?