Showing posts with label cnn. Show all posts
Showing posts with label cnn. Show all posts

Monday, March 7, 2016

DONALD TRUMP AND TRUMP UNIVERSITY SUED NATIONWIDE, ROBERT PAISOLA REPORTS (Actual Lawsuits .pdf)

UPDATE: 3-2016  TO THE NATIONAL MEDIA: YOU KEEP CALLING OUR USA OFFICES ABOUT OUR INVOLVEMENT WITH TRUMP UNIVERSITY. WE WERE THE NATIONAL BACKBONE FOR THE ORGANIZATION. WE WERE BASED IN PROVO, UTAH .  WE DID THE COACHING AND MENTORING AND WORKED WITH BILL ZANKER AT THE LEARNING ANNEX. WE PAID TRUMP 1 MILLION DOLLARS "Per Appearance" . And, YES, THERE WERE LAWSUITS FILED... HERE IS OUR ORIGINAL STATEMENT from 2014  Robert Paisola, CEO


DONALD TRUMP AND TRUMP UNIVERSITY SUED NATIONWIDE, ROBERT PAISOLA REPORTS


DONALD TRUMP AND TRUMP UNIVERSITY SUED NATIONWIDE, ROBERT PAISOLA REPORTS


MORE LAWSUITS OUT OF UTAH! DONALD TRUMP SUED. ALL FULFILLMENT WAS DONE OUT OF THE SALT LAKE CITY AND PROVO UTAH AREAS. I WAS THERE.  IF YOU HAVE A COPY OF THE LAWSUIT PLEASE EMAIL TO ROBERT@ROBERTPAISOLA.COM  WHO IS BILL ZANKER WITH THE LEARNING ANNEX  LETS LOOK AT JOHN SWALLOW?   (Do your research America)

CLASS ACTION 1

CLASS ACTION 2

Michael Cohen told the Associated Press on Saturday that Schneiderman's lawsuit was filled with falsehoods. Cohen said Trump and his university never defrauded anyone.  LOL

The New York State attorney general’s office filed a civil lawsuit on Saturday accusing Trump University, Donald J. Trump’s for-profit investment school, of engaging in illegal business practices.
The lawsuit, which seeks restitution of at least $40 million, accused Mr. Trump, the Trump Organization and others involved with the school of running it as an unlicensed educational institution from 2005 to 2011 and making false claims about its classes in what was described as “an elaborate bait-and-switch.”
In a statement, Eric T. Schneiderman, the attorney general, said Mr. Trump appeared in advertisements for the school making “false promises” to persuade more than 5,000 people around the country — including 600 New Yorkers — “to spend tens of thousands of dollars they couldn’t afford for lessons they never got.”
The advertisements claimed, for instance, that Mr. Trump had handpicked instructors to teach students “a systematic method for investing in real estate.” But according to the lawsuit, Mr. Trump had not chosen even a single instructor at the school and had not created the curriculums for any of its courses.
“No one, no matter how rich or famous they are, has a right to scam hardworking New Yorkers,” Mr. Schneiderman said in the statement. “Anyone who does should expect to be held accountable.”
The inquiry into Trump University came to light in May 2011 after dozens of people had complained to the authorities in New York, Texas, Florida and Illinois about the institution, which attracted prospective students with the promise of a free 90-minute seminar about real estate investing that, according to the lawsuit, “served as a sales pitch for a three-day seminar costing $1,495.” This three-day seminar was itself “an upsell,” the lawsuit said, for increasingly costly “Trump Elite” packages that included so-called personal mentorship programs at $35,000 a course.
On Saturday evening, Michael Cohen, a lawyer for Mr. Trump, denied the accusations in the lawsuit and said the school had received 11,000 evaluations, 98 percent of which rated students as “extremely satisfied.”
George Sorial, another lawyer for Mr. Trump, called the lawsuit politically motivated. He said that Mr. Schneiderman had asked Mr. Trump and his family for campaign contributions and grew angry when denied.
“This is tantamount to extortion,” Mr. Sorial said.
Andrew Friedman, a spokesman for the attorney general’s office, said that although Mr. Schneiderman had accepted a contribution from Mr. Trump in the past, “the fact that he’s still brave enough to follow the investigation wherever it may lead speaks to Mr. Schneiderman’s character.”

NY AG Sues Trump, 'Trump University,' Claims Fraud

New York's attorney general sued Donald Trump for $40 million Saturday, saying the real estate mogul helped run a phony "Trump University" that promised to make students rich but instead steered them into expensive and mostly useless seminars, and even failed to deliver promised apprenticeships.
Trump shot back that the Democrat's lawsuit is false and politically motivated.
Attorney General Eric Schneiderman says many of the 5,000 students who paid up to $35,000 thought they would at least meet Trump but instead all they got was their picture taken in front of a life-size picture of "The Apprentice" TV star.
"Trump University engaged in deception at every stage of consumers' advancement through costly programs and caused real financial harm," Schneiderman said. "Trump University, with Donald Trump's knowledge and participation, relied on Trump's name recognition and celebrity status to take advantage of consumers who believed in the Trump brand."
But Trump's attorney accused Schneiderman of trying to extort campaign contributions from the real estate mogul through his investigation of Trump. Attorney Michael D. Cohen told The Associated Press on Saturday that Schneiderman's lawsuit was filled with falsehoods. Cohen said Trump and his university never defrauded anyone.
He said Trump University provided nearly 11,000 testimonials to Schneiderman from students praising the program and said 98 percent of students in a survey termed the program "excellent."
"The attorney general has been angry because he felt that Mr. Trump and his various companies should have done much more for him in terms of fundraising," Cohen said. "This entire investigation is politically motivated and it is a tremendous waste of taxpayers' money."
State Board of Elections records show Trump has spent more than $136,000 on New York campaigns since 2010. He contributed $12,500 to Schneiderman in October 2010, when Schneiderman was running for attorney general, records show. An outspoken conservative, Trump himself flirted with a presidential run last year.
"Donald Trump will not sit back and be extorted by anyone, including the attorney general," Cohen said.
The lawsuit says many of the wannabe moguls were unable to land even one real estate deal and were left far worse off than before the lessons, facing thousands of dollars in debt for the seminar program once billed as a top quality university with Trump's "hand-picked" instructors.
Schneiderman is suing the program, Trump as the university chairman, and the former president of the university in a case to be handled in state Supreme Court in Manhattan. He accuses them of engaging in persistent fraud, illegal and deceptive conduct and violating federal consumer protection law. The $40 million he seeks is mostly to pay restitution to consumers.
He dismissed Trump's claim of a political motive.
"The fact that he's still brave enough to follow the investigation wherever it may lead speaks to Mr. Schneiderman's character," Schneiderman spokesman Andrew Friedman told AP.
State Education Department officials had told Trump to change the name of his enterprise years ago, saying it lacked a license and didn't meet the legal definitions of a university. In 2011 it was renamed the Trump Entrepreneur Institute, but it has been dogged since by complaints from consumers and a few isolated civil lawsuits claiming it didn't fulfill its advertised claims.
Schneiderman's lawsuit covers complaints dating to 2005 through 2011. Students paid between $1,495 and $35,000 to learn from the Manhattan mogul who wrote the best seller, "Art of the Deal" a decade ago followed by "How to Get Rich" and "Think Like a Billionaire."
Scheiderman said the three-day seminars didn't, as promised, teach consumers everything they needed to know about real estate. The Trump University manual tells instructors not to let consumers "think three days will be enough to make them successful," Schneiderman said.
At the seminars, consumers were told about "Trump Elite" mentorships that cost $10,000 to $35,000. Students were promised individual instruction until they made their first deal. Schneiderman said participants were urged to extend the limit on their credit cards for real estate deals, but then used the credit to pay for the Trump Elite programs. The attorney general said the program also failed to promptly cancel memberships as promised.
———
Consumers may file complaints at:
www.ag.ny.gov/bureaus/consumer—frauds/filing—a—consumer—complaint.html.

Donald Trump sued by attorney general for $40M over 'Trump University'

New York's attorney general sued Donald Trump for $40 million Saturday, saying the real estate mogul helped run a phony "Trump University" that promised to make students rich but instead steered them into expensive and mostly useless seminars, and even failed to deliver promised apprenticeships.
Trump shot back that the Democrat's lawsuit is false and politically motivated.
Attorney General Eric Schneiderman says many of the 5,000 students who paid up to $35,000 thought they would at least meet Trump but instead all they got was their picture taken in front of a life-size picture of "The Apprentice" TV star.
"Trump University engaged in deception at every stage of consumers' advancement through costly programs and caused real financial harm," Schneiderman said. "Trump University, with Donald Trump's knowledge and participation, relied on Trump's name recognition and celebrity status to take advantage of consumers who believed in the Trump brand."
But Trump's attorney accused Schneiderman of trying to extort campaign contributions from the real estate mogul through his investigation of Trump. Attorney Michael D. Cohen told The Associated Press on Saturday that Schneiderman's lawsuit was filled with falsehoods. Cohen said Trump and his university never defrauded anyone.
He said Trump University provided nearly 11,000 testimonials to Schneiderman from students praising the program and said 98 percent of students in a survey termed the program "excellent."
"The attorney general has been angry because he felt that Mr. Trump and his various companies should have done much more for him in terms of fundraising," Cohen said. "This entire investigation is politically motivated and it is a tremendous waste of taxpayers' money."
State Board of Elections records show Trump has spent more than $136,000 on New York campaigns since 2010. He contributed $12,500 to Schneiderman in October 2010, when Schneiderman was running for attorney general, records show. An outspoken conservative, Trump himself flirted with a presidential run last year.
"Donald Trump will not sit back and be extorted by anyone, including the attorney general," Cohen said.
The lawsuit says many of the wannabe moguls were unable to land even one real estate deal and were left far worse off than before the lessons, facing thousands of dollars in debt for the seminar program once billed as a top quality university with Trump's "hand-picked" instructors.
Schneiderman is suing the program, Trump as the university chairman, and the former president of the university in a case to be handled in state Supreme Court in Manhattan. He accuses them of engaging in persistent fraud, illegal and deceptive conduct and violating federal consumer protection law. The $40 million he seeks is mostly to pay restitution to consumers.
He dismissed Trump's claim of a political motive.
"The fact that he's still brave enough to follow the investigation wherever it may lead speaks to Mr. Schneiderman's character," Schneiderman spokesman Andrew Friedman told AP.
State Education Department officials had told Trump to change the name of his enterprise years ago, saying it lacked a license and didn't meet the legal definitions of a university. In 2011 it was renamed the Trump Entrepreneur Institute, but it has been dogged since by complaints from consumers and a few isolated civil lawsuits claiming it didn't fulfill its advertised claims.
Schneiderman's lawsuit covers complaints dating to 2005 through 2011. Students paid between $1,495 and $35,000 to learn from the Manhattan mogul who wrote the best seller, "Art of the Deal" a decade ago followed by "How to Get Rich" and "Think Like a Billionaire."
Scheiderman said the three-day seminars didn't, as promised, teach consumers everything they needed to know about real estate. The Trump University manual tells instructors not to let consumers "think three days will be enough to make them successful," Schneiderman said.
At the seminars, consumers were told about "Trump Elite" mentorships that cost $10,000 to $35,000. Students were promised individual instruction until they made their first deal. Schneiderman said participants were urged to extend the limit on their credit cards for real estate deals, but then used the credit to pay for the Trump Elite programs. The attorney general said the program also failed to promptly cancel memberships as promised.

Donald Trump investment school sued by New York attorney general: report


(Reuters) - The New York state attorney general filed a $40 million lawsuit on Saturday against Donald Trump's for-profit investment school, Trump University, accusing it of engaging in illegal business practices, according to the New York Times.

The newspaper reported that New York Attorney General Eric Schneiderman alleged that the real estate mogul, his Trump Organization company and others made false claims about classes at the school, including that Trump handpicked instructors.

Representatives for the New York attorney general's office and Trump were not available for comment late on Saturday.

But Trump said in a post on Twitter, "Light weight NYS Attorney General Eric Schneiderman is trying to extort me with a civil law suit."

The tweet linked to a website about Trump University, which says the school has a 98 percent approval rating from students.

The New York attorney general's lawsuit seeks restitution of at least $40 million, the Times said, and it alleges that Trump University was run as an unlicensed educational institution from 2005 to 2011 and that Trump did not create the curriculum for any of the school's courses.

(Reporting by Mary Wisniewski in Chicago; Editing by Alex Dobuzinskis and Peter Cooney)

New York Attorney General Is Investigating Trump’s For-Profit School



The New York State attorney general’s office is investigating whether a for-profit school founded by Donald J. Trump, which charges students up to $35,000 a course, has engaged in illegal business practices, according to people briefed on the inquiry.
Richard Drew/Associated Press
Donald J. Trump says students at his school want him to be more involved. A representative defended the school.
no credit
Dozens of students have complained about the quality of Trump University, which charged up to $35,000 per course.
The investigation was prompted by about a dozen complaints concerning the Trump school that the attorney general, Eric T. Schneiderman, has found to be “credible” and “serious,” these people said, speaking on the condition of anonymity because the investigation was not yet public.
The inquiry is part of a broader examination of the for-profit education industry by Mr. Schneiderman’s office, which is opening investigations into at least five education companies that operate or have students in the state, according to the people speaking on the condition of anonymity.
The investigation is the latest problem for a six-year-old company, known until last year as Trump University, that already faces a string of consumer complaints, reprimands from state regulators and a lawsuit from dissatisfied former students.
George Sorial, a managing director of the Trump Organization, confirmed that the company had received a subpoena from the attorney general’s office, and said, “We look forward to resolving this matter and intend to fully cooperate with their inquiry.”
Mr. Schneiderman is looking into whether the schools and their recruiters misrepresent their ability to find students jobs, the quality of instruction, the cost of attending, and their programs accreditation, among other things. Such activities could constitute deceptive trade practices or fraud.
The four other companies are the Career Education Corporation, which runs the Sanford-Brown Institute, Briarcliffe College and American InterContintental University;Corinthian Colleges, the parent company of Everest Institute, WyoTech and Heald Colleges; Lincoln Educational Services, the owner of Lincoln Technical and Lincoln Colleges Online; and Bridgepoint Education, the operator of Ashford University.
Spokesmen for Lincoln Educational Services, Bridgeport Education and Corinthian Colleges each said the companies had been sent requests for information by the attorney general’s office and would comply with them.
A representative of Career Education Corporation declined to comment.
For-profit schools have become big business in the United States, especially as the unemployed seek a way back into the work force. Some of those schools, however, have been accused of creating as much economic harm as help: students have reported falling deep into debt to pay for classes that they said had failed to deliver what they had promised.
Mr. Trump’s institution is unique among for-profit schools: it is built almost entirely around the prestige and prominence of a single individual. Mr. Trump said he created the university in 2005 to impart decades’ worth of his business acumen to the general public. He aggressively marketed the school, telling students that his handpicked instructors would “teach you better than the best business school,” according to a transcript of a Web video.
The school has charged premium prices because of the Trump name, with the cost of the courses ranging from $1,500 to $35,000 each.
But, as The New York Times reported last week, dozens of students have complained about the quality of the program to the attorneys general of New York, Texas, Florida and Illinois. The Better Business Bureau gave the school a D-minus for 2010, its second-lowest grade, after receiving 23 complaints. Over the last three years, New York and Maryland have told the company to drop the word “university” from its title, saying that using it violated state education laws. (The school was renamed the Trump Entrepreneur Initiative in 2010.)
Four former students filed a suit against Trump University last year in a federal court in California, seeking class-action status. They contended that the school used high-pressure sales tactics to enroll students in the costly classes, promised extensive one-on-one instruction that did not materialize and employed “mentors” who at times recommended investments from which they stood to profit.
Mr. Sorial of the Trump Organization, which oversees Mr. Trump’s businesses, forcefully disputed those claims. He said on Thursday that 95 percent of the school’s students in New York had rated their courses as “excellent” on evaluation forms. The school’s national average is even higher, he said.
“Our customer satisfaction surveys speak for themselves,” he said.
As its troubles have mounted, the school has suspended new classes and begun overhauling its curriculum, executives said. One priority is finding a way to inject more of Mr. Trump into the program.
“The one thing is that they really wanted me involved, instead of the teachers,” Mr. Trump said in an interview last week.
In interviews, several former students said they felt betrayed by the real estate mogul and his school, especially after investing tens of thousands of dollars in what they thought was to be a comprehensive education.
“They lure you in with false promises,” said Patricia Murphy, 57, of the Bronx, who is among the former students suing Mr. Trump, whose suit makes similar claims. She said she had spent about $12,000 on Trump University classes, much of it paid with credit cards, in the hope of escaping her career as a part-time teacher and becoming a real estate investor.
Her instructors said they would introduce her to banks, help her secure loans and walk her, step by step, through deals, she recalled. “They did none of that,” she said. “I was scammed.”
Mr. Sorial said the school was looking into Ms. Murphy’s claims.
Carmen Mendez, 59, a public school teacher in Brooklyn, wrote to the Better Business Bureau in 2009 about her disappointment with the school — and with Mr. Trump. She said she had dipped into her retirement savings to pay nearly $35,000 for the classes, because “Mr. Trump is a very respectable person, and I thought that Trump University was a real institution,” she said in the letter to the Better Business Bureau.
An instructor promised her, she wrote, that the school guaranteed financial assistance to buy e real estate. But once she had enrolled, Ms. Mendez wrote, she was refused such assistance. Because her credit cards were loaded with debt to pay for the classes, mortgage brokers told her she was ineligible for a loan, she said.
“I am writing because I want people to be aware that Trump University is not a real educational institution,” she told the Better Business Bureau. “Please advise other people so they do not lose their savings in these difficult days.”
Mr. Sorial said that the school tried to offer Ms. Mendez a full refund more than six months ago. “She failed to return our numerous calls and e-mails,” he said.

Tuesday, March 25, 2008

Live from First Business Morning News, Mortgage Brokers Gone Wild, Posted by Robert Paisola




"Refi-Bust: Mortgage Brokers Gone Wild" ex-mortgage broker David Lawrence Mortgage Fraud, investigations, David Lawrence, First Business Morning News



http://link.brightcove.com/services/link/bcpid464121043/bclid1243715034/bctid1467274188

Rick Koerber and Franklin Squires Refuse to Be Interviewed LIVE by Fox News in New York, Robert Paisola Reports


To Our Readers Around the World,

Today, we received a call from a Private Investigator named Steve Maxfield. Steve is a person who has gone to battle in the past and is currently in litigation with Rick Koerber due to losses that his clients have faced.

We are very sympathetic to the victims of Rick Koerber, and this is why we are stepping up to the plate to continue to help you.

As many of you are aware, Fox News in New York City is doing a story on C. Rick Koerber and Franklin Squires. Until today, we were not aware of Steve Maxfields involvement with Franklin Squires.

As a result of the story that appeared in the Salt Lake City Weekly, as well as information on this and many other forums around the world, including FranklinSquiresLawsuit.com The National Media is swarming to see the details of this story.

So, during our conversations with Mr. Maxfield, we are told that the only way to get Rick Koerber on the phone is to call his attorney. So that is what we did. We called an attorney in Utah named Blake T. Ostler. His office number is 801-575-5000 and his cell phone is 801-573-9756.

During the call we stated that we wanted to get Koerber and Gabe Joseph in line for the New York shoot, This attorney, who is supposed to represent Koerber was a complete ASS. He stated that there would be no interview with Koerber on Fox and hung up. Well, thank God you have us to spread your voice!

We relayed this to FOX and they are going to run the story without Koerbers input.

To this, we ask the Free Capitalist, "What in the hell do you have to hide?" Well, we are going to start to post all of the documents that we have received as a result of the investigation by Steve Maxfield.

Here is an interesting email that was just sent to us by a Koerber supporter that we have agreed to not name, as he is providing us with a plethora of information, and in in Koerbers Circle:

Date: Tue, 25 Mar 2008 13:34:29 -0400
To:
From: rkoerber@freecapitalist.com
Subject: Are you available to help?

March 25, 2008

I am working on a project today of very high importance. I am hoping
you'd be interested in helping make this an enormous success. Here's
what's going on.

Tonight at 7pm is when Republicans and Democrats in Utah will be holding
caucus meetings where delegates are elected in local precincts to attend
the County and State conventions. I am trying to get an extremely large
number of 'freedom and prosperity' minded individuals to

1) attend their caucus meeting and

2) get elected as a *State* delegate.

I cannot explain how important these positions are and sadly, many
Utahans just take local government for granted.

This is where real people and real politics meet. This is a simple yet
vital way to contribute to our community and to advance the agenda of
freedom and prosperity.

It is NOT difficult to do this, the hardest part is to get over the
anxiety of having not done it before. Here is how it works.

1. You identify the voting precinct where you live and where your caucus
will meet - look here.


For Utah County Caucuses.

For Salt Lake County Caucuses.

For other counties check with your County Clerk.

2. Work for the rest of the day today to bring as many friends and
supports as possible (even if its just family and friends in the
neighborhood) who live in the same precinct who will VOTE for you.
Remember you are RUNNING FOR OFFICE as a state delegate.

3. Prepare a short 2 to 3 minutes 'persuasive speech' to deliver at the
caucus meeting. The speech should be a summary of your views -
specifically related to the US Constitution, Freedom, Limited
Government, Prosperity etc.

4. Start right now calling everyone you know in your neighborhood,
inviting them to come.

5. Arrive at the caucus meeting early - say at least 6:30p.

6. When the time comes have someone nominate you (this should be
arranged in advance so the opportunity is not missed, generally you are
not allowed to nominate yourself).

7. Give your speech, when recognized, stand up and be calm, deliver your
message and be confident that by doing so you will get enough votes to
become a state DELEGATE.

8. *Email me* and let me know what happened and tell me briefly about
your success.

So, that's it. It is NOT difficult. BUT this is not something most
people do.

THIS IS FAR MORE IMPORTANT than just casting a ballot this November.
Like minded people have an opportunity to REALLY AFFECT their government
and their community.

We have an AMAZING opportunity and its TONIGHT!

*Will you help?* If you are willing to help, here is what I'm asking for.

1. Will you run as a delegate and do steps 1-8 above? (The only excuse
for not doing so is if there is someone else in your precinct who you
support as like minded and very capable).
2. Will you recruit others to come to your precinct meeting and vote for
you or the person you support?
3. Will you help me spread the word and get friends and like minded
associates in other PRECINCTS to do the same. This means using email,
making telephone calls and MAKING THIS A PRIORITY right now!
4. Will you keep me informed via email so I can track our progress and
in turn keep you informed.

Let's make a HUGE difference. Let's do something that matters.

Let me know if 'YOU'RE IN' by emailing me back and confirming your
intentions tonight.

I look forward to hearing back from you immediately.


Sincerely,

C. Rick Koerber
CEO/Founder
Free Capitalist Project

So as you can see, C. Rick Koerber, the CEO and FOUNDER of Free Capitalist Project / Free Capitalist Foundation and Free Capitalist Enterprises, LLC is attempting to use the legislative system to hide the wrongs of the money that he stole. Hell, lets just have all of my followers run as delegates! I will even tell them what to say "Prepare a short 2 to 3 minutes 'persuasive speech' to deliver at the caucus meeting. The speech should be a summary of your views -specifically related to the US Constitution, Freedom, Limited Government, Prosperity etc" Drink the Cool Aid My Sheep!

We also just received information that Rick Koerber is re branding "Prosperity Quest" as the new Franklin Squires.

As many of you know, our servers are co-located around the world, including here in Mexico and all over in 21 different countries, so take this post and feel free to repost this around the world.

Finally, we want to again thank the many people who have provided us the information and data to essentially close Franklin Squires. Look at the photos at www.FranklinSquiresLawsuit.com .... Oh, we mean "scale back" LOL

So, keep sending the information to investigations@FranklinSquiresLawsuit.com and if you are a member of the media, please respond to mediarelations@robertpaisola.com and one of our representatives will contact you shortly.

Oh, and do our readers really believe that the message from the First Presidency of the Church of Jesus Christ of Latter Day Saints that was read from the pulpit around the United States was a mere coincidence? Be real people, and as Rick Koerber himself says...

Turn on your brain, and look at the facts!

From Mexico with Love,

Robert Paisola
CEO
The Western Capital Foundation

Monday, February 25, 2008

United First Financial- The Next Franklin Squres-Posted by Robert Paisola









Mr. Paisola,

I could not believe what I was reading but I found this company based in UTAH. Another Franklin Squires Scam!

this is just gearing up and already people are signing up. $3500 plus $500 gets you the software.

The new scam from Utah! Ron legrand just endorsed it.

http://www.u1stfinancial.com/Default.aspx?tabid=312



United First Financial hosts regular seminars around the country to discuss the power of the Money Merge Account. The informational MMA seminars are designed to give you a robust introduction to our software and our expert financial agents. Our expert financial team will demonstrate how the proprietary online software will work for you, answer any questions you may have, and get you on the path to financial freedom as quickly as possible.

The Money Merge Account consists of three major components:

1. Your Existing Primary mortgage

The existing mortgage on your home is the foundation for the Money Merge Account.

2. An Advanced Line of Credit (ALOC)

The Money Merge Account program uses an advanced equity line of credit as a vehicle or a tool to drive the program. The equity line of credit must have the capacity to operate similarly to a primary checking account and be set up with an open-end interest calculation (rather than a closed-end interest calculation). Combined with the Money Merge Account's web-based system, this creates a formula in which the money in your line of credit account generates an interest cancellation on your primary mortgage.

3. MMA software

The online Money Merge Account system makes a virtual connection between your bank account, the advanced line of credit, and your primary mortgage. Each time you transfer income into your account, it registers as a decrease to your mortgage balance. By decreasing your mortgage balance, you now lower the balance on which interest accrues. By decreasing the balance on which interest accrues, you increase the portion of your monthly payment which is credited toward your principal pay down. The algorithms in the proprietary Money Merge Account system are systematically programmed to create the highest interest savings possible in the least amount of time under this system.

Five Easy Steps to Becoming Mortgage Free:

1. Fill out the Money Merge Account work sheet

2. Activate your Money Merge Account

3. Deposit Your Paycheck
Deposit your paycheck into your current checking and/or savings account. As soon as the funds clear, the amount you designate is transferred from your checking and/or savings account into your Money Merge Account managed line of credit. Because the line of credit is connected to your home, the money transferred from your checking and/or savings accounts decreases your mortgage balance, thus reducing the balance in which interest builds.

4. Pay Your Bills
Throughout the month, you pay your bills using your Money Merge Account managed line of credit. With this account, money is immediately available through checks, debit cards, and ATMs*. The amount left after bills have been paid remains against the balance of your mortgage until you need it, keeping your mortgage balance as low as possible, further reducing mortgage interest charges.

5. Follow the system
Follow the promptings of the online Money Merge Account system to maximize your savings and pay your mortgage off as quickly as possible.*

We encourage homeowners to do their homework and to get the facts in deciding if the Money Merge Account is right for you. *Please keep in mind that not all banks provide the same terms and services with their lines of credit. Please inquire with your bank as to what services they provide with their lines of credit. United First Financial does not provide financial or investment advice

Thursday, February 7, 2008

How Mortgage Fraud Works: From CNN- Posted by Robert Paisola

This video is from the show Open House on CNN. This video briefly explains how a flipping scam works and what to look out for so you are not another victim!


Wednesday, February 6, 2008

Mortgage Fraud 101 in Spanish, Posted by Roberto Paisola

Val E. Southwick Prosecution : Posted by Robert Paisola


Val E. Southwick, a smooth-talking businessman who sometimes used his LDS faith to persuade potential investors to part with their money, was charged Wednesday with nine felonies in what federal and state authorities describe as a massive Ponzi scheme that bilked about 800 investors out of as much as $180 million.

Criminal charges filed in state court and a federal civil complaint say the Ogden businessman used a spider web of 150 or so interconnected companies to raise $445 million over 17 years of operation from banks and professional and unsophisticated investors. The latter included at least several elderly investors who, on promises of high returns and that their money was safe, invested their entire life savings with Southwick at a time when his companies were broke.

"Mr. Southwick had such enormous personal appeal that they all believed him," said Wayne Klein, the director of the state Division of Securities.

The massive fraud may be the largest in Utah history. Among creditors are several hundred Utahns and investors from 29 other states and three foreign countries.

The criminal charges and a civil complaint filed in federal court by the U.S. Securities and Exchange Commission were filed after negotiations, said Max Wheeler, Southwick's attorney. Southwick has agreed to plead guilty in the state case and reach an agreement with the SEC over the civil
complaint, though details are still pending, Wheeler said.

"Val is prepared to acknowledge mistakes were made and has agreed to cooperate with both the state and federal governments to try to get to the bottom of what happened and to make an attempt to minimize the negative impact on investors," said Wheeler. The attorney added that Southwick had been advised not to speak publicly.

Several investors said Wednesday they were happy to see the charges but were critical that it had taken state and federal regulators so long to prosecute Southwick.

"Here's one of the biggest criminals that has ever been in the history of Utah and they're treating him like he's a VIP or something," said Jonathan Horne, who invested $2.1 million after meeting personally with Southwick in January 2005.

Said Brad Hatch, of Spanish Fork, who invested $125,000 in 2002 after getting a sales pitch from Southwick: "There's a bunch of us who feel like if they hadn't been dragging their feet we wouldn't be out of our life savings."

Klein said the state has been investigating Southwick since October 2006 but has been hampered by the complexity of the case, the lack of financial records and audits of the companies, and by investors who did not cooperate. Of 817 letters sent to investors seeking information, only about a quarter responded. The majority apparently believed Southwick's promises to repay them and heeded his warning that cooperation with regulators might slow the return of their money.

Southwick lured investors with promises of high returns, competent management and promises that their money was safe, according to an investigative summary released by the Division of Securities. He also relied on his membership in the LDS Church, according to investigators and several investors.

"Southwick emphasized his membership and ecclesiastical roles in The Church of Jesus Christ of Latter-day Saints during solicitation meetings with investors," the investigative summary says. "Southwick showed his LDS Temple Recommend, or mentioned its existence, to several investors, and his office contains LDS 'memorabilia,' all of which appeared designed to breed a sense of trust between Southwick and investors."

Instead of Southwick secure investments paying as much as 24 percent a year, he "operated a massive Ponzi scheme, paying existing noteholders with funds from new investors," the SEC complaint says. The millions of dollars, much of which is not accounted for, often was used to repay earlier investors and cover living expenses for Southwick and his family.

Southwick, 62, faces up to 15 years in prison on each state felony count. The SEC is seeking unspecified fines, a return of monies obtained through fraud and to enjoin Southwick and associates from engaging in future fraudulent behavior.

Southwick filed for bankruptcy in federal court in Utah through one of his companies, VesCor Capital Inc., in May 2007, about a year after he stopped paying investors promised interest. Other related companies are in bankruptcy court in Nevada.

The state investigation is continuing and could lead to criminal, civil and administrative actions against people who sold millions of dollars worth of securities on behalf of Southwick, said Klein, who recently said he would resign his position after questions arose about the operation of the Division of State Securities and his management style.

tharvey@sltrib.com