Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Off and on, I've been trying to track $125 million that appeared to have been sent to Bermuda by Tom Basmajian a few years ago. I wonder if it ended up being washed through Pelatis Insurance Limited down there...

For those interested, the list comes from the Bermuda Registrar of Companies. Long list...Lot of names on it...
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Lot of Capital Z corps. offshore too...

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But it was formed after Basmajian was already gone.

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Cap Z existed long before Basmajian was gone. Bermuda registrations alone go back to at least 1998..

And Pelatis was only a name change - much like Fairbanks changed to SPS to distance the company from the bad press of USA/Curry v. Fairbanks.

Pelatis was previously named Fairbanks Insurance Agency Corp. Fairbanks Insurance was registered with UT SoS as of 2000. Basmajian wasn't bounced until '03. Interestingly enough, the name change happened in September of '04 - only a few months after USA/Curry v. Fairbanks settled.
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Mike check the Cayman Islands, I think their maybe a link between the two.

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Good call, Gary. Thank you.

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