Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Wednesday, May 11, 2016
Lawsuit: Attorney Fleeced His 82-Year Old Dad Out Of $80K In Proceeds From Sale Of Long Island Condo While Representing Him At Closing
In New York City, the New York Post reports:
A former parking-violations judge once accused of swindling the city also victimized his own father, the dad claims in a lawsuit.
A decade ago Allan J. Patricof landed a sweetheart gig as the city’s highest-paid Parking Violations Bureau judge, raking in $110,472 in 2006 and $84,687 in 2007.
At the same time, he was billing the city for hours he didn’t work, investigators charged. Patricof — whose wife, Rochelle, was a deputy at the city Finance Department, which oversees parking judges — was asked to return $8,645.
Now his dad, Jules Patricof, 89, says Allan, 54, also stole $80,000 from him.
Jules, who lives in Florida, asked his lawyer son to oversee the sale of a Long Island condo Jules wanted to unload.
All Allan Patricof did was show up at the April 2014 closing for the Valley Stream property, which had no mortgage and should have netted Jules the $129,000 sale price.
Instead, Allan sent his pop a check for just $32,632 without “explanation as to why the check was $96,368 less than the $129,000 sale price,” according to court papers.
Allan charged a whopping $7,500 for “legal fees,” paid $6,450 to a real-estate agent and shelled out $2,677 for maintenance and stock transfer fees, but “a total of $79,741 is completely unaccounted for,” Jules claims in the Manhattan federal court suit against his son.
When his dad asked for his cash, Allan Patricof allegedly “only provided non-specific, undocumented and false claims of renovation expenses. In reality, [he] has wrongfully and illegally pocketed the money, which was deposited into his attorney escrow account.”
Jules Patricof is seeking $1.5 million in damages from Allan and hints in court papers his son has caused additional harm with “wide ranging” fraud that the dad doesn’t detail.
Allan Patricof, who denied wrongdoing as a parking judge, declined comment. The Finance Department absolved him of wrongdoing but reassigned him when the allegations resurfaced in 2009, according to reports.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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