Wednesday, March 12, 2008
Illegal mortgage scheme affected valuations of 460 homes in Riverbottoms area, Posted by Robert Paisola
Six Utahns indicted for mortgage fraud
Grace Leong - DAILY HERALD
The forfeiture of millions of dollars in criminal assets and lengthy prison terms are among penalties sought by the U.S. Attorney's Office against six Utahns accused of running an illegal mortgage scheme to inflate the value of several high-end homes in the affluent Riverbottoms neighborhood in Provo, according to a federal court document unsealed Tuesday.
In what's been called the first federal indictment filed as part of the newly-formed Utah Mortgage Fraud Task Force, registered sex offender Bradley Kitchen of Provo, David Bolick of Sandy, Steve Wells Cloward of Orem, Ron Clarke of Provo, Jeffery David Garrett of Provo and Rebecca Ann Hadlock of Saratoga Springs were indicted on four counts of mail fraud, nine counts of wire fraud, one count of conspiracy to commit mail fraud.
The indictment, which was filed last Wednesday and sealed in U.S. District Court in Salt Lake City, was unsealed Tuesday.
Each count could carry a maximum sentence of up to 20 years in prison and $250,000 in fines on conviction. The U.S. Attorney's Office also seeks to forfeit $7.5 million from Kitchen, Bolick, Cloward and Clark; $6 million from Garrett and $4.5 million from Hadlock.
The defendants have received a summons to appear in federal court for an arraignment in January.
The indictment alleged the defendants, functioning in various roles as mortgage brokers, investors, real estate agents, appraisers, straw buyers and escrow agents, formed a network to fraudulently obtain loans secured by real estate worth less than the loans themselves. The false statements were included in loan applications and loan packages to divisions of Countrywide Home Mortgage and American Broker's Conduit in California and New York respectively.
The indictment charges that Kitchen reached an agreement with Bolick to conduct property purchases through Bolick's company, Home Owners Group. These purchases were backed up by another Bolick-owned company Paragon Investment Group. Kitchen and others then bought residential properties, and through false statements on loan applications and false appraisals, falsely inflated the properties' values to induce lenders to grant loans for amounts in excess of their fair market value, the indictment said.
Utah County Assessor Kris Poulson said property valuation changes were made and approved by the Utah County Commissioners last month to 460 of 550 homes affected by the illegal mortgage scheme, which drove up house prices in the Riverbottoms area.
"Seven affected homes were reduced by as much as $1 million in property valuations from around $3.5 million," he said.
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dailyherald Dec 11 2007 16:55:06
Illegal mortgage scheme affected valuations of 460 homes in Riverbottoms area
Millions of dollars in criminal assets and lengthy prison terms are among penalties sought by the U.S. Attorney's Office against six Utahns accused of running an illegal mortgage scheme to inflate the value of several high-end homes in the affluent Riverbottoms neighborhood in Provo, according to a federal court document unsealed Tuesday.
In what's been called the first federal indictment filed as part of the newly-formed Utah Mortgage Fraud
Angel Dec 12 2007 03:09:12
Makes you wonder if these six stooges have stopped and thought back to when they came to that fork in the road where they had two choices to make--earn money honestly, or rip people off? That one moment is at this point, very significant considering the potential prison time involved. Probably will be the moment they most regret, perhaps second only to getting caught.
Leslie40725 Dec 12 2007 06:39:43
The damage done by these alleged fraudsters goes wide and deep. Property owners and speculative developers in the most desirable communities have made millions in capital gains, but the poor souls who bought during the buying frenzy have lost (or will lose) millions in value because property values were artificially inflated. For countless others, home ownership has been put completely out of reach.
Speculative booms leave a wake of destruction in their path even without the fraud. Unfortunately, we have yet to experience the mess these folks have created. Add to the mix the sub-prime financing of homes that were already over-priced and the real estate market can quickly become really fragile.
I would like to see more analysis and investigative reporting done on the direct and indirect impact of this scheme. Almost certainly these activities changed purchasing decisions and impacted other surrounding real estate. It will be impossible to know for sure the tremendous cost this fraud has imposed on the community.
In addition to real estate taxes, buyer and seller commissions, insurance premiums, and lenders were all hit by this in a big way-- most with more dollars in their pocket. The problem is that the unwitting buyers of inflated properties are the ones that pay the price.
BTW, whatever happened to Dave Fox and other participants that called themselves "victims" in the scheme?
Dogbert Dec 12 2007 14:15:34
Anyone who knows Mr Kitchen...and I do personally....knows he's about the most shifty, dishonest, person you'll ever meet. None of this comes as a suprise to me. He's gotten caught up in these kinds of things before and just been lucky enough to not go to jail so far. I'm good friends with one of his brothers and he used to be business partners with him and he told me a while back that he was distancing himself as far from brad as he could because of his dirty business practices. I have a feeling he'll be going away for a while this time!!!!
Icowcasse Dec 12 2007 17:14:56
:o This was the nearly exact same CON pulled when the Flippin Clintons were Flippin in Flippin (Arkansas) In the Flippin Clinton CON they used one of the MANY THOUSANDS of DIRT ROAD or Seasonal, Summer, Recreational Subdivisions like you see all over the West AND UTAH. The DAISY chain of STRAW BORROWERS and the Cooked Appraisals and Title Work is something I cut my teeth on around Houston and Conroe Texas back in the very EARLY 1980s. You can google the name Don Bolles, he was an IRE Investigative Reporter back in the 1970s down in ARIZONA. The way these thing work is FRAUDULENT INFLATION of tracts of CHEAP LAND into DIRT ROAD SUBDIVISION LOTS or in the case in Provo, ARTIFICIALLY INFLATING higher end homes.
If you have any questions Google DIRT ROAD LAND CONS, Search the terms COLONIAS and investigate the DIRT ROAD "RED FLAG SUBDIVISION CONS" so famous out of TEXAS. I wonder IF the US Postal Inspectors took the lead on this one. I KNOW the Dallas Texas Postal Boys N Girls did a pretty good job in Texas back in the 1980s.
I would be asking the QUEEN of FLIPPIN, Ms. Hillary though a little more about those DIRT ROAD CONS there in FLIPPIN LAND ARKANSAS. :
SEE THE HOUSTON CHRONICLE ARCHIVES 1985 - 1989 Search Red Flag, Unrecorded Subdivisions
YOUR COMMENTS ON THE MORTGAGE FRAUD CHRONICLES
EAH!!! Finally...... All of us realtors with brains have been watching and waiting for the dishonest to be caught. It wasn't hard to figure out what they were doing. Can't wait till they get the rest of the guys that have been doing this all over. I have names in mind can't wait to see if I'm right!
12/11/2007 11:10 PM by Another Realtor
Brad is a personal friend of mine. There is much more to this story than is being led on. Don't believe the news so much. Special interests are at hand. Brad might be involved with some shady business, but he's not the evil man everyone is making him out to be.
12/11/2007 11:15 PM by dont worry about it
This is fantastic news. I've been watching this situation with interest for some time and was surprised it took so long for the government to do something about it all. The prices of homes in the Riverbottoms and some neighborhoods in Lehi, Eagle Mountain and Saratoga Springs were just plain out of control and showed little or no logic. I mean seriously, when you have homes in upscale gated communities like Pepperwood in Sandy with twice the square footeage selling for less than some of the homes in Provo that were not nearly as nice just because of some illegal flipping how did these folks not think someone would eventually catch on.
12/11/2007 11:40 PM by Jimmy
I used to work with Ron Clark 11 years ago at ReMax here in Orem. He has always been such a nice and caring man. He would give the shirt off his back to anyone! I just cannot see that he would do something like this. It's a terrible tragidy for his family. His wife is such a sweetheart. I hope if this is true that he starts too see what he has done and start making ammends with it. I will always remember Ron Clark as a true professional and a compasionate old friend.
12/12/2007 12:03 AM by Wendy Olsen
Wendy... I am sure he is a great individual, but greed can be and is a power vice. I have seen the deception, and unfortunately for Ron's friends and family, and unfortunately, I believe it is true.
Dont worry... When you are indicted by the Feds, they have dotted all the "i's" and crossed all the "t's." A person has less than a 5% chance of "getting off." So things do not look good for any of these people, Brad included.
12/12/2007 12:30 AM by David Doerr
This is a huge problem and has been for many years. I worked with the State on similar deals 9 years ago. Not much happened so I left the profession. It is good to see these things surfacing and finally being taken care of. There are alot of innocent people getting hurt by this. The reality of it is - it hurts all of us. I have known some of these people for years and they are nice guys, but nice can't hide the wrong being done. The reality is the things that are being done in these mortgage fraud deals are wrong and justice will be served. These guys are just the tip of the ice berge. Don't be suprised how deep this problem really runs.
12/12/2007 01:26 AM by used to be an appraiser
When are they going to get Wade Sleater & Kyle Nelson from Atlas Capital of Provo, Utah. They are bigger crooks than the guys above.
12/12/2007 09:46 PM by Broke & Took
Glad that we have you to judge for everyone here. Who needs the legal system now. You are such a fucking idiot. Who are you to say that anyone of these people are guilty? And why single Clarke out? Isn't Bradley the ringleader here?
You have less than 5% chance of growing a brain and loosing some weight. As I (taking after you) have just judged by reading your comments and seeing you picture.
12/12/2007 09:47 PM by
Wade Sleater and Kyle Nelson ran a mortgage fraud buisness disguised as an investment fund. Mostly Kyle Nelson did the promoting of the investment and the selling of the securities. Wade Sleater used the money to fund his other companies that were failing while pretending to pay 3% interest payments. They are under investigation for fraud and SEC charges. Mortgage Fraud is what KSL's website says. I know the state is still looking for more victims.
12/12/2007 10:30 PM by Jason
You are right I am certainly brainless and yes a bit on the hefty side. However, in lieu of posting something anonymously, I have chosen to basically repost what was reported on no less than 3 separate news agency websites, I am standing behind what I said with all my contact info in place. If you have a problem with what I have said, please feel free to e-mail or call me. It really takes someone that is gutless to anonymously call names, and throw around insults.
Greed is a very powerful tool that makes good people blind to what they really want to accomplish in life. It is easy to get sucked in, and I believe we have seen a lot of it in the past few months in Utah County.
I am not trying to convict anyone, just stating what I have seen, and if that is something that people cannot handle than so be it.
12/12/2007 11:00 PM by David Doerr
All I am saying is.... it sounds like Bradley is more to blame than the others. He is the mastermind behind all this. Why are you saying that Clark is the guilty one here?
12/12/2007 11:59 PM by
The indictment points out some serious issues that were not even mentioned in the papers. It will be interesting which defendants try to plea bargain because the allegations are big time. I don't think any of these guys want to go to jail. The finger pointing has just begun but its pretty apparent they were all involved to some degree.
12/13/2007 12:08 AM by c$
I am not going to go into detail on what I have seen, it is not my place to put things out into the open, that is for the investigators.
As I stated above, it does not look good for ANY of the individuals listed in the indictments.
"Dont worry... When you are indicted by the Feds, they have dotted all the "i's" and crossed all the "t's." A person has less than a 5% chance of "getting off." So things do not look good for any of these people, Brad included."
12/13/2007 12:09 AM by David Doerr
I have known Ron Clarke personally, as well as professionally. He is one of the most selfless men I have ever met or done business with. He is the most cautious realtor I've worked with and would never do anything that would damage his credibility, reputation, and his business that he has worked hard to create. I personally believe that we are not the ones to be judging him or accusing him of any wrong doing at this time. Just because he has been indicted, that does not mean he is guilty, even if it's on a federal level. We do not know the facts, and it is up to the judicial system to figure it all out. Until then, I stand by him with full support.
12/13/2007 12:17 AM by Sandra
A subjective opinion of any of the individuals in the indictment based on media outlets is quite a ridiculous assumption. So Doerr, I think you should be cautious of what you say. Sounds to me that you are more or less a competitor to Clarke and relish in the recent events.
Didn't you say something about greed? interesting. Who were you talking about? You or those indicted?
Think about it
12/13/2007 12:53 AM by Roger Smith
I pray you are right, however I fear you are not.
I don't have to think about anything, I said I have personal knowledge of matters that I will not discuss in this forum, it is not my place.
I am no competitor of Mr. Clarke, and I admired him greatly until I saw what I saw.
I have been posting things on my blog for some time now about mortgage fraud, because I can's stand it. That is all that this or any of my post about fraud have been about.
I am not some rich mortgage broker, just a loan officer trying to make a life for my small family.
I admire your loyalty, I would probabally be in your same position if I did not know what I have seen.
12/13/2007 01:09 AM by David Doerr
This all runs so deep and has for years. I think there will be many people suprised by all those named in this by the time it is all said and done. I wonder when we will start to see the names of the Franklin Squire people in the news. It is very hard to believe when some of these people say they didn't know it was wrong. When I was in the real estate profession, people justified so much, but they knew it was wrong. I hate to see anyones life ruined, but these scams have hurt so many innocent people for so long, it is about time justice is served.
12/13/2007 01:28 PM by
It's funny to see one of Wade's former employees continually come on here and make crazy accusations. We all know who you are already. Get over it.
12/14/2007 11:48 AM by It's funny . . .
everybody knows who you are Mr. National Treasure
12/14/2007 11:50 AM by It's funny . . .
Who would know more about fraud and corruption then a former employee?
12/14/2007 04:39 PM by c
I am an owner of a local mortgage company. Brad Kitchen contacted our company to do financing for one of his so called purchases. My partner went over to his office and was taken into his "Donald Trump styled board room", where he barked orders at his blinded followers. My partner listned and realized right away that this guy was going down the wrong road. He did take a copy of the loan file that he wanted us to look at back to our office. We all had a good laugh, the file was FULL of fraud:
1. Fraudulent bank funds
2. Fraudulent income
3. VERY fraudulent appraisal - The appraiser used three comparable properties that were all sold by the same agent, all of these sales were contracts of sale. All sales were atleast 1 million more than the property sold for in the last year. This is how they jack up the values to create a new FAKE value and keep the ball rolling! Some poor sap underwriter eventually got a hold of this file and I guess the appraiser tweeked it enough and they didn't notice all of the fraud in the appraisal. I have been in the business 22 years and of course one look and it jumped out at me. I can't see how it wasn't seen but it sailed on and closed a few months later. I know that he organized his realtor, appraiser, basically team of individuals to create this scam. So wake up long time friend, forget about the nice boat rides on the lake and all the talk about the money etc. FRAUD FRAUD FRAUD
12/15/2007 12:29 AM by For the Brad kitchen lover
You mentioned "They are under investigation for fraud and SEC charges..." regarding Wade Sleater and Kyle Nelson. Where can i read about this on KSL? I would like to learn more.
12/16/2007 09:14 PM by concerned
HOA's and even surrounding neighbors are talking about filing a class action lawsuit against Atlas Capital, Wade Sleater, and Kyle Nelson for inflating prices of homes and driving property taxes artificially high.
The FBI states the following and actually allows, neighbors, HOA's, and even entire neighborhoods to be classified as victims and thus press charges and file civil suites:
"Victims of mortgage fraud may include borrowers, mortgage industry entities, and those living in the neighborhoods affected by mortgage fraud. Such victims are plagued with high foreclosure costs, broker commissions, reappraisals, attorney fees, rehabilitation costs, and other related expenses when a mortgage fraud is committed3. As properties affected by mortgage fraud are sold at artificially inflated prices, properties in surrounding neighborhoods also become artificially inflated. When property values increase, property taxes increase as well. Legitimate homeowners soon find it difficult to sell their homes as surrounding properties affected by fraud deteriorates."
Real Estate fraud crimes committed in the State of Utah fall under the RICO Statute. Which pulls all the players at Atlas under one working team and apllies the law equally to all of them.
12/17/2007 01:11 AM by ISOM KNOWS
Does anyone know what relation SLEATER, RYAN C & TIFFANY T are to Wade and Atlas?
The State of Utah and the Utah Mortgage Fraud Task Force are searching for victims of Atlas Capital and Wade Sleater. If you know someone who is a victim, or if you have information that is connected to this investigation then contact:
Phone: (801) 530-6747
Heber M. Wells Building
160 East 300 South
Salt Lake City 84114-6711
Send in any information that you may have or encourage those you know who might be affected to do the same.
12/17/2007 01:21 AM by Shanda Dawn - What's that flower you have on
Wade is a good man! Someday you'll all be wishing you were Wade. My husband and I lost some money with Wade. My husband has not been happy about it and wants me to put more pressure on Wade, but he is my brother and I just know that someday this is all going to work out. Our family, including Sonny, wouldn't trade this whole mess for anything. We're learning who our friends are and who we can trust. Wade is smart, he's funny, and he makes me laugh...anybody that can do that has got to be smart because I don't laugh very often. He's the best brother I could ever have...even better than my other borther Josh...who lost some money too. Oh Yeah, Sonny is our dad and he lost money too but Wade has been selling stuff on the side to make sure that our dad gets paid back...that's what I call real love. In fact Sonny's life-friend paid for Wade's mission and Wade took $300k of his money too...but even then our dad Sonny got paid back first. So those of you who feel screwed by Wade just ask my dad how loyal Wade is and you'll see a father so proud of his son his wallet could burst. My husband knows that he should be more patient with Wade, I have told him many times that family comes first. Not just because of this money thing but even when we have family pictures and my parents make all the spouses step out while they get a picture with just us kids and our born children. So my husband has known for a long time that family comes first. My husband was saving up for a beak-ectomy for my nose and wanted to speed up the opperation date so he put his money in Wade's fund so it would grow faster (not my nose, the money). The doctor says that it is typically called a Rhino-plasty but in my case I look more like a bird so its called beak-ectomy - anyway Wade is going to pay everybody back the $15million that he owes even if it takes 15 million years. Trust me! And those of you who know me know I wouldn't be blinded by the fact that Wade is my brother. I mean, worng is wrong and I don't need my husband to tell me that much.
12/17/2007 01:48 AM by Jordan Sleater-Shields
You sound like you love Wade very much. But you must give your husband the bennefit of grieving the loss of his money. I mean things could be worse, you could actually end up living in Wade's basement and then you would be just as mad as your husband. So don't forget that!! I see a real courage in your words and a defiance that comes from a strong family. You seem like you and Wade have been raised in a family with principles: Like don't lie, don't cheat, don't steal. Helping your father by paying him back first is a real example to all the other investors of the 3rd commandment - honor thy mother and thy father. They need to belive that they will get paid back and then just be patient. As far as your nose is concerned, have you considered Gelcistic Pins. These are little tube like inserts that can save you a lot of pain. The only side effect is that they make your eyes droopy so if you have a beak-like nose you don't want to add droopy eyes or you'll really look strange. I have a profile online if you guys want to see it it's at: http://corrections.utah.gov/asp-bin/sexoffender.asp?offender=154309&addrid=759997&jurs_flg=U&name_id=459717
12/17/2007 02:24 AM by Brad Kitchen
If you are trying to get money back from Wade Sleater then you may want to file your complaint with the state as soon as you can because you're already falling behind others: LIKE THE IRS
Entry #:116465-2007 Recorded: 8/10/2007 11:13:56 AM
Consideration:$104,039.78 IRS TAX LIEN
Abbv Legal Desc: - SERIAL #381670507
REAL PROPERTY: LT 3 MT AIREY AT RED HAWK RANCH R1-N26,2
SHANDA DAWN SLEATER TRUST SEPT 10 2004
SLEATER, WESTON W (Wade goes by his middle name on some deals and uses his first name "Weston" on others. Also he has some property in his wife's name:
12/17/2007 02:34 AM by TAX LIEN - I.R.S.
Dennis Webb is Wade's mentor and former mission president. He's the owner of opperation kids Toll-Free: 888.257.KIDS I don't know what if any his role is at atlas
12/17/2007 03:04 AM by Tiffany Sleater
WHO TO CONTACT:
Here are the email addresses of the dudes at the State Division of Securities (part of the State of Utah Department of Commerce) who appear to be investigating SIMILAR transactions and entities. That is not to say that they are currently looking at anybody listed here -- I have no idea. If you want to file a complaint or just contribute info that you are aware of with the Division of Securities they are eager to hear from you. They want to clean things up but require information that they seem unable to get unless it comes from live people.
Mike Hinses: email@example.com
Wayne Klein: firstname.lastname@example.org
You can also get additional info about the Division at: http://www.securities.utah.gov/
Or you can call them at: 801-530-6600
Criminal Charges were filed agains one Paul Bouchard and Hunters Capital on or around December 4th for his involvement in a "real estate scheme" which is reminiscent of some folks expereinces as outlined on this board. Here are the actual charges from the Division of Securities web site:
This link was posted previously on this board but I think that in light of all the speculation that has taken place since it was posted we would do well to re-establish that there are actual facts coming out and they are being pursued only because intersted citizens are pushing them through the system and providing the truth to the investigators. Without that participation this would fade away. This thing goes a lot deeper than the one guy charged so far, we all know that, I encourage everybody with a story to tell, whether it's your own or your friends' or your family's, please contact the Division of Securities, give them your story, answer their questions and let's hope that they can sort it all out! Let us know what you find out and we'll help get to the bottom of this.
12/17/2007 03:08 AM by Rick K. F.S.
ATLAS CAPITAL & WADE SLEATER SOUND A LOT LIKE HUNTERS CAPITAL:
According to charging documents, Bouchard and his company, Hunters Capital, commited the following crimes:
Approached investors with the following offers:
* Investor's money would be used for hard money loans to buy real estate in exchange for promissory notes.
* Investors could get their deposit back with a 30-day written notice.
* Investors would receive a 3-4% return per month on their investment with Hunters Capital.
HELLO ATLAS & WADE YOU'RE DOING THE SAME THING AREN'T YOU???
12/17/2007 03:18 AM by Dr. Dre
Those of you who are pretending to be someone from the Sleater family should be very careful about what you are doing. (Note I'm not from the Sleater family), but legally, it isn't wise.
12/17/2007 10:02 AM by Be careful
Man what is going on down there in Provo? This is better then days of our lives.
12/17/2007 10:53 AM by SLC
Anonymous-if you are going to throw around accusations like sixth grader, maybe you should sign your name so it means a little more to all of us.
12/17/2007 12:32 PM by Joseph Crespillo
Are you kidding me? I've seen maybe 1 percent of the people on here are using their real names and being complete assholes in the process by the way they are talking about people.
12/17/2007 09:59 PM by Eveyone on here is anonymous
Dennis Webb was Wade's mission president. He did not teach Wade any business practices, never partnered on anything related to Wade's business ventures, nor did he ever do any real estate or investing deals with Wade. He was just his mission president and Wade respected him.
12/17/2007 10:09 PM by facts
First of all I am pretty sure Wade won't have to worry about having any friends or acquaintances invest with him again. After all if family comes first and he is willing to rip off his own family where do friends or casual acquaintances fit into that picture? Wade has broken the bonds of trust and friendship with several people and though it might be hard for you to hear he is not the best guy in the world. He could have been much more forthcoming with information as his business empire was falling around him. Tell me Jordan why should anyone outside of your family ever trust Wade again (including your husband since it is apparent from your comment about family photos that your parents don't count spouses as family).
Jon has every right to ask you to put more pressure on Wade. Wade owes a lot of money to a lot of people and those fortunate enough to get anything back before 15 million years should thank their lucky stars.
12/18/2007 03:12 PM by Mike
If you knew wade and his family the way you purport to you would know that the entry above was NOT by Jordan. Everyone needs to quit acting like they are on the "inside" and has these grandeous suggestions. If you dont know what your talking about then dont talk. No, Im not Wade or one of his family members! I have lost more than many through this whole thing but Im sick and tired of people coming on here bitching and moaning just because they can. I support David for doing this, and feel it is very healthy but only if the contributions to the conversation are based on facts and actual events and not pent up emotion. There are many people hurting through this including Wade and his family. How about everyone takes a break from feeding your anger by seeking blood and go enjoy time with your families during the holidays instead of reading this blog. Come back in January with a resolution to seek truth, justice and understanding. Sure, there will be much to pay for all of the decisions Wade made most likely one of those being a lot of jail time for him but quit feeding your "I told you so" self righteous attitudes. This email is not directly to Mike but all those above who seem to find satisfaction in letting everyone know that "I know better, why dont you others, now Im the saint who is gonna hunt him down and show everyone they should listen to me next time" attitude. Go do something productive. Call the division of securities, talk to the FBI, go get an attorney do something other than rant and rave to try and sound like you know what your talking about. What a joke! Probably 50% of whats on this blog is discolored and untrue. Im out till January and hopefully everyone will have had some time to breathe and gain some sanity to do this the right way, with the right facts and constructively.
12/18/2007 03:51 PM by If you dont know what your talking about dont talk!
Yeah Mike! You need to know that Jon is only my husband and not actually a Sleater. There's a big difference!! Jon has had trouble accepting this at times, but my dad, Sonny, has had several talks with him about this and he now understands. Trust me, Jon is no Sleater!!!
12/18/2007 05:17 PM by Jordan Sleater-Shields
to the jackass who keeps posting as Jordan... you are gutless. (I'm not a sleater. I don't know them that well, but I know this is NOT jordan).
12/18/2007 08:45 PM by Not Jordan
I think you're pretty funny. I have seen your brother Wade in action. I saw daddy Sleater come into town for 3 weeks wondering where the money went that was suppose to be paid monthly to the family friend up in the Northwest that was trying to run the dentist office. Where could the 350K have gone, where is the 3% per month? Daddy Sleater just didn't understand how the kid that had 4 paper routes when he was a little boy could have messed up. How he could have promised the people down in Cedar City that he would pay them the money they owed them only to lose the life savings of many! So to the poor Sleater lover above, let the people on here gripe, cry, complain, moan, make fun, who cares...... Sleater and company deserve all they get.
12/18/2007 10:25 PM by To Jordan
thanks for narrowing it down for us all.... now we all know who you are. Not a sleater lover. Not a sleater. Just think you people suck for pulling wade's family into this and basically saying horrible things about them. Very cool of you.
12/19/2007 12:59 AM by cedar
I am just curious if someone can help me understand. I have heard from both sides of the fence that Wade is hosed and that Wade did nothing illegal (just stupid). Can anyone tell me exactly what was done by Wade that was illegal?
12/19/2007 04:30 PM by Anonymous
There's going to be two parts to the story. First off, there are SEC violations. Wade and his group were soliciting investments without being licensed to do so. Definitely a no-no. Second, the Utah Division of Real Estate is allowed to prosecute unlicensed individuals who commit real estate fraud. Inflating values on homes, not disclosing certain things on a real estate application (like how many homes you actually own). i Don't hold Wade accountable for all these things. There were PLENTY of other people involved; appraisers, loan officers (to an extent).
You see things like mail fraud and wire fraud with the Ron Clarke case. It's going to be the same things for the Atlas Group.
12/19/2007 04:38 PM by Bill
The Utah Division of Securities has an open investigation into Atlas Capital. Anyone with information or a complaint can contact the lead investigator, Dianna Parrish, at 801-530-6600 or email her at email@example.com
You may also submit a formal complaint with the following form...
12/18/2007 by concerned family member
12/19/2007 06:46 PM by
bogus you're a concerned family member. We all know who you are.
12/19/2007 10:51 PM by "concerned family member" is mr treasure or the SEC
If loan applications were filled out fraudulently then the Feds will want to prosecute also.
12/19/2007 11:45 PM by Joseph Crespillo
So are the Kitchens really living in a motel right now?
12/20/2007 01:19 PM by bubble butt
Did you shut this thing down or something or has the fury just died down?
12/26/2007 09:52 PM by To David Doerr
Just a calm in the storm
12/26/2007 09:58 PM by David Doerr
Thats what happens isnt it? People vent, cool down and it all goes silent. Next, they'll get a slap on the wrist and move on to the next deal. Thats too bad.
12/26/2007 11:24 PM by to David
It's been way too long since somebody posted here... since I've moved out of state, I only get my info from places like this. I had money invested with Wade Sleater... and was approached multiple times about deals with a company called Source Twelve Real Estate....does that ring a bell to anyone? I would like to know if that is where some of my money went. I have not been able to get a hold of anyone at Mr. Sleater's company for a long time. The last I was able to get was a young lady who worked with him, who said that he would be contacting me soon. I still haven't heard from him. I am afraid that he is trying to get away with my money. Does anyone still have contact with Mr. Sleater? I have heard about some lawsuits, but don't know how to get involved. I have also heard that he may be going to prison? What would happen to my investment then?
If anyone has anything more to say about this, please keep posting...so that people like me can stay involved and up to date. Where is Mr. Sleater now? What does he do to make money now? He must be working....
01/31/2008 01:27 AM by silence is condolence
Sorry dude, I hate to tell you this, but...... YOU'RE NOT GOING TO GET YOUR MONEY!! What did you really expect?? Pyramids always leave you poor suckers holding the bag. There is no money and everyone has their hand out. I was a casual observer of Wade. I must admit, he actually held it together longer than I expected. Do people really think money can grow from a vacuum? We've all made bad deals. The only collecting that happens is hoping the knowledge of what to do in the future is gained.
02/07/2008 02:09 AM by anom
thank you, Mr. Ben Treasure
02/07/2008 03:27 PM by more like casual wanna-be
I must appreciate your work. It is really too good to read. from last couple of days i was searching for something interesting and this post is really nice.
Thanks for this nice post.
Home loan, Mortgage Articles, Resources and Information
02/17/2008 12:49 PM by Handy Saputra
Watch out for Wade Sleater and his associate Mark Craner_ FRAUD ALERT!!!!
03/01/2008 03:43 AM by MARK CRANER- FRAUD ALERT!!!
Thanks for posting this link.
03/03/2008 02:34 AM by Find a Notary Public | needAnotary
This is an intersting read... thanks for posting.
03/03/2008 05:44 PM by Kevin Hancock
Brad Kitchen is an EVIL EVIL EVIL person!, ANYONE who would believe a word coming out of his mouth needs their head examined. DON"T BELIEVE HIM BECAUSE HIS IS LYING TO YOU! Plain and simple. Not only is he the ringleader of this Real Estate scam, he is a convicted pedophile, and has also been arrested for domestic violence, among other things. He is a master manipulator and liar, He makes up any story you want to hear. And his wife, ANNE KITCHEN, is just as bad, or maybe worse, because she is his co-conspirator in EVERYTHING (EVEN THE CHILD SEXUAL ABUSE) and then plays the innocent victim, all "woe is me and my poor kids" but yet she has stayed with him all this time, despite them being so "poor" that they have to "live in a motel"...yeah right. Why would she stay with him? Because Brad has PLENTY of money stashed away and that is all she cares about..they just play the woe is me card to try to regain sympathy. And yes, they use their psycho, messed up kids in the scheme, too. Brad and Anne Kitchen are toally EVIL, and I hate to say this, but if he doesn't get convicted of this and do some serious time in jail, he will just cook up another scheme to scam you out of money. This isn't his first scam, and it won't be his last, unless somebody puts a stop to him. He doesn't know how NOT to steal, lie, cheat, or threaten with his big, nasty fatness.