Monday, April 12, 2010

Mortgage Holders' Lawyers Say Alleged N. Texas Rent Skimming Operator "Has Siphoned Rents From The Properties ... To Fund An Extravagant Lifestyle …"

In Dallas, Texas, continues its coverage on the probe into an alleged rent skimming racket that left would-be home sellers facing foreclosure:
  • CBS 11 is learning more about the alleged business practices of [] North Texas man [Matthew Misczak,] accused of cheating dozens of clients across the country. He's accused of taking tens of thousands of dollars and people's homes. Angry customers say the business man is living the good life, and they're paying for it.


  • Misczak filed for bankruptcy.(1) Court papers reveal lawyers for the mortgage holders found Misczak 'has siphoned rents from the properties... To fund an extravagant lifestyle…'


  • Adria Allen worked for Misczak for four months before leaving. She remembers when Misczak suddenly moved out of his office in a Watauga strip mall. "I asked 'why did we move?' They said they were embarrassed with the way it looked." The next thing she knew, Misczak's new office was inside a Farmers Branch chiropractor's clinic.

For more, see: Customers: We Paid For Extravagant Lifestyle.

(1) See Experts: Taxpayers May Have Paid Forclosure Losses:

  • Records show when Misczak filed for bankruptcy in 2008 he had more than 100 houses. Former employees claim he still has about 60 houses in his name, though it's still unclear how many of them have been foreclosed on and how many of those had taxpayer-backed loans.