Romspen Just Got Spanked By The 3rd DCA In Weiss Fraud Case. This Is Going To Hurt The Canadian Lender In More Ways Than One!
Yes, you read that right. Romspen just got spanked hard by the Florida 3rd DCA in Miami in the Caroline Weiss fraud case. Now, Romspen and their investors are out $21 million. This is also going to hurt them in more ways than one.
Namely, Romspen will have to deal with pissed off investors gave them money. Investors are going to be demanding answers from Romspen about why they threw $21 million at an inexperienced geriatric real estate investor. An investor who was in the middle of a lawsuit from her daughter accusing her of real estate fraud.
Seriously, who throws $21 million at an inexperienced geriatric real estate investor being sued for fraud?
This is going to hurt Romspen almost as bad as when they loaned $54 million to trio of Colorado stoners to finance a cannabis business. Only for the stoners to default on the loan and disappear.
A Florida Court Finally Realizes Caroline Weiss Committed Fraud
After 7 years, a Florida court finally saw the obvious real estate fraud committed by Caroline Weiss against her daughters. The 3rd DCA in Miami finally saw the fraud. The appellate court reversed the trial court’s summary judgment ruling in favor of lenders.
The 3rd DCA reversed a Miami trial court’s summary judgment ruling in favor of Romspen in favor of Weiss’s daughter Adeena.
This ruling means Canadian lender Romspen got bitch slapped and bitch slapped hard. As a result, this means Romspen’s lien on the contested properties is now void and they could very well just lost $21 million.
The 3rd DCA ruled that it was obvious Caroline Weiss committed fraud to obtain the properties. The appellate court also stated that the lenders who loaned Weiss money should have known Weiss committed real estate fraud before giving her the money. This, of course, includes Romspen.
The three judge from 3rd DCA wrote in their order:
Under Florida law, a deed procured by fraud in the execution is void. Equally axiomatic is that a forged mortgage is a legal nullity. Consequently, “[a] forged deed provides no protection to those claiming under it.” Against these principles, we conclude the dueling summary judgment allegations created material and triable factual issues. Accordingly, we reverse and remand the orders under review for further proceedings not inconsistent herewith.
Romspen now finds themselves in a dire predicament in more ways than one! So, grab the popcorn because Wesley Roitman’s job is now on the line!
This Article Originally Appeared on MFI-Miami.
Read More About Romspen On MFI-Miami:
Check Out These Government Websites If You Feel You Are A Victim Of Investment Fraud By Romspen.
Filing A Complaint In Canada:
Contact The Canadian Investment Regulatory Organization (CIRO) At 1.877.442.4322 For More Information. You Can Also Email Them At firstname.lastname@example.org
If That Doesn’t Work, Contact Deputy Prime Minister And Finance Minister Chrystia Freeland:
If You Are An American Citizen. Contact These Federal Agencies:
You Can File A Complaint With The Securities And Exchange Commission By Clicking Here.
Also, You Can File A Complaint With The Federal Trade Commission By Clicking Here
In Addition, You Can File A Complaint With FINRA By Clicking Here
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