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.
Monday, March 06, 2017
Dad's $200K Restitution Payment Buys Out Jail Time For Thieving Real Estate Agent/Son Who Fleeced Couple Out Of $150K; Prosecutor Reduces Potential Felony Conviction To Misdemeanor
In Fenton, Michigan, the Tri-County Times reports:
Since he paid restitution of $200,000 to his victims, Thomas (Tommy) Tubbs, 45, of Grand Blanc has fulfilled the conditions of his plea agreement.
According to the agreement, made in August of last year, the Genesee County prosecutor agreed to reduce the charge to a misdemeanor of larceny $200 to $1,000.
Investigators with the Genesee County Sheriff’s Office claimed Tubbs collected $150,000 from an Atlas Township couple for a real estate transaction, but kept the money for himself.
Tubbs, who worked for a Fenton real estate firm, was charged with taking money under false pretenses, according to Genesee County court records. He was originally arrested on Aug. 26, 2015.
On Aug. 19, 2016, during a pre-trial hearing, Tubbs entered into a plea agreement. He pleaded no contest as charged and requested a deferred sentence in order to allow him to pay restitution in full.
Sentencing was originally set for Jan. 9, and then adjourned to Jan. 26.
On Jan. 26, Tubbs was led from the courtroom in handcuffs, according to Fox 66 News. He remained there until he came up with the money. At the time, Tubbs said his father, Jim Tubbs, also a real estate agent, would sell some property to come up with the money.
During his Feb. 10 sentencing, Tubbs was ordered to have no contact with the victims. According to Feb. 10 court records, “The restitution has been paid in full and the charge is hereby amended.”
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)
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