Pastor Steals Church - Another Example of Real Estate Fraud
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It is amazing the depths that some people that some people will go to steal property. There is a story from the city of Ripon in the San Joaquin Valley, California about a Reverend who stole the Church right out from under the parish, sold it, and drove around town flaunting it. The pastor who led the parish for over a decade stole the church. And the amazing part, he also convinced a fellow inmate who was in jail with him to confess to a crime, so he could use that to get an early release. Now the pastor is looking to monetize the crime with a book.
All the while, the church is tied up in lawsuits as the congregation and the buyer try to determine who is the rightful owner. There is a cold place in hell for this man.
The church was basically senior citizens, people in their 80s, 90s and close to 100,” Prater said. “He was their favorite son.”
Radic’s pulpit was in a wooden, 90-year-old chapel, and he lived in a church-owned house a few blocks away.
“This is a town with a lot of faith,” said Navid Fardanesh, president of the Ripon Chamber of Commerce. “People had a lot of trust in him, and unfortunately he took advantage of the situation.”
First, Radic faked documents giving him possession of the parsonage, and used the property to take out about $200,000 in personal loans, prosecutors said. Then he forged papers saying he had the power to sell the church, and sold it to a couple for $525,000.
After investigators began inquiring about the $102,000 BMW, Radic fled to Denver. Prosecutors coaxed him back, and he was arrested in 2005. via the AP
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Comment by Cindi Dixon on 22 February 2007:
Wow!!! and Thank you very much for the Mortgage Bubble article you published.
The mortgage fraud epidemic that plagues the US has far reaching economic ramifications which are only now starting to materialize. This effect is felt more deeply in higher valued markets, such as the OC. I spent 15 years as a QC manager for a large, So Cal based, national lender out there before moving back home to So Fla, the other mortgage fraud capital of the US.
As mortgage industry insiders, we saw this stage being set years ago, with lenders and Wall Street investors alike seeing the writing on the wall but relishing in the proceeds of these loans. “Don’t ask, don’t tell” should no longer be unwritten policy at these companies, presumably responsible for not only great economic contributions, but who are responsible for financing peoples lives and dreams, or irresponsibly destroying them for a profit.
Cindi Dixon, Director
Mela Capital Group, LLC
Mortgage Fraud Investigations and Training
866-382-7566
PO Box 670035
Coral Springs, FL 33067-0035
Cindi@MortgageFraudQC.com
http://MortgageFraudQC.com
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