Southwest Florida Builder, Brokers Named Again In Another Lawsuit Alleging Real Estate Fraud
A Lehigh Acres, Florida couple alleges in a real estate fraud lawsuit that the value of eight properties they bought from First Home Builders was falsely inflated by three real estate appraisers in Lee County to support a construction loan, according to a report in The News-Press of Southwest Florida. The purchases were reportedly made in connection with a real estate investment program formerly operated by D'Alessandro & Woodyard Commercial Realtors.
Named in the suit are First Home Builders of Florida, First Mortgage Lenders of Florida LLC, real estate brokerage D'Alessandro & Woodyard, its broker Frank D'Alessandro and real estate agent Samir Cabrera, Gary Ouellette, Honora Kreitner, real estate appraisers Gary Neese, William Meador and Gulf Coast Appraisal and Associates, Primary Mortgage Funding Inc., Norlarco Credit Union, and First Home Title, Inc. D'Alessandro is a weekly real estate columnist for the The News-Press.
The allegations contained in the lawsuit include (1) fraud in the inducement, (2) civil conspiracy, (3) breach of contract, (4) negligent misrepresention, (5) recission, (6) misleading advertising, and (7) violation of the Florida Deceptive and Unfair Practices Act.
Representing the plaintiff is attorney Gary F. Ritter, with Thompson Law Firm, Bonita Springs, Florida.
First Home Builders, the real estate brokerage, and Cabrera are currently defendants in another lawsuit brought by a Broward County, Florida couple that also reportedly involved the investment program that was operated by D'Alessandro & Woodyard.
Buried in an April 28 article by The News-Press (which reports that Cabrera is a defendant in a $13+ million foreclosure action filed by an entity controlled by D'Alessandro), Cabrera and D’Alessandro are reportedly named as defendants in six lawsuits alleging securities fraud, mortgage fraud and breach of contract in connection with sales to investors of homes built by First Home Builders in Cape Coral and Lehigh Acres in 2005 and 2006 (see Suit filed against broker’s agent - Lenders seek foreclosure action).
For the copy of the Lehigh Acres couple's lawsuit, see Schmidt vs. D'Alessandro & Woodyard Commercial Realtors, First Home Builders, et al.
For the current article on the Lehigh Acres couple's lawsuit, see Lawsuit alleges appraisals inflated.
For the previous article on the Broward County couple's lawsuit, see First Home Builders dispute could lead to class-action lawsuit (Broward couple claim fraud in loans for three First Home properties in Lee).
For other posts on First Home Builders, see Securities / Mortgage Fraud Suit Filed Against Florida Builder, Bank, Broker.
For a prior post on the ongoing real estate flipping in Southwest Florida involving allegedly inflated appraisals, see Flipping Deals Running Rampant In Southwest Florida.
(this is an updated post - originally posted 5/3/07 - 1:55 pm)
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Named in the suit are First Home Builders of Florida, First Mortgage Lenders of Florida LLC, real estate brokerage D'Alessandro & Woodyard, its broker Frank D'Alessandro and real estate agent Samir Cabrera, Gary Ouellette, Honora Kreitner, real estate appraisers Gary Neese, William Meador and Gulf Coast Appraisal and Associates, Primary Mortgage Funding Inc., Norlarco Credit Union, and First Home Title, Inc. D'Alessandro is a weekly real estate columnist for the The News-Press.
The allegations contained in the lawsuit include (1) fraud in the inducement, (2) civil conspiracy, (3) breach of contract, (4) negligent misrepresention, (5) recission, (6) misleading advertising, and (7) violation of the Florida Deceptive and Unfair Practices Act.
Representing the plaintiff is attorney Gary F. Ritter, with Thompson Law Firm, Bonita Springs, Florida.
First Home Builders, the real estate brokerage, and Cabrera are currently defendants in another lawsuit brought by a Broward County, Florida couple that also reportedly involved the investment program that was operated by D'Alessandro & Woodyard.
Buried in an April 28 article by The News-Press (which reports that Cabrera is a defendant in a $13+ million foreclosure action filed by an entity controlled by D'Alessandro), Cabrera and D’Alessandro are reportedly named as defendants in six lawsuits alleging securities fraud, mortgage fraud and breach of contract in connection with sales to investors of homes built by First Home Builders in Cape Coral and Lehigh Acres in 2005 and 2006 (see Suit filed against broker’s agent - Lenders seek foreclosure action).
For the copy of the Lehigh Acres couple's lawsuit, see Schmidt vs. D'Alessandro & Woodyard Commercial Realtors, First Home Builders, et al.
For the current article on the Lehigh Acres couple's lawsuit, see Lawsuit alleges appraisals inflated.
For the previous article on the Broward County couple's lawsuit, see First Home Builders dispute could lead to class-action lawsuit (Broward couple claim fraud in loans for three First Home properties in Lee).
For other posts on First Home Builders, see Securities / Mortgage Fraud Suit Filed Against Florida Builder, Bank, Broker.
For a prior post on the ongoing real estate flipping in Southwest Florida involving allegedly inflated appraisals, see Flipping Deals Running Rampant In Southwest Florida.
(this is an updated post - originally posted 5/3/07 - 1:55 pm)
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posted by Home Equity Theft Reporter at 3:17 PM
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