Monday, April 19, 2010

Good-ish news?

Today is a big day.  Today, the sentencing date has been set Mark Kellogg over 100 counts of criminal fraud in the case of the foreclosure crisis in Slavic village.  I haven't been able to find the results of his sentencing, but I'll be updating as soon as I do.  This is exciting because it's new.  Mark Kellogg, along with his co-defendant Beverly Cody and others, made fraudulent purchases and sales of 78 homes in Slavic village and defrauding people and companies of a total of $5.8 million dollars.  Mark Kellogg was the mortgage broker in this scam, and Beverly Cody acted as the buyer, and five other defendants- other phony buyers involved- plead guilty in November.  Kellogg plead guilty to all counts of money laundering and theft by deception and other charges, as did Cody. 

As far as anyone can tell, these are the first cases in which criminal fraud charges have been brought that include harm done to other home owners in Slavic village that were damaged because of the consequences of Kellogg, Cody, et al.s fraudulent activity.  Consequences that include nearly all of the homes in Slavic village currently being in foreclosure thanks in large part to sub-prime mortgages and under-water mortgage loans.  Kellogg is eligible for a maximum of 106 years in prison and $6.6 million in fines and restitution.  I'll be happy to see this man get put away.  He helped to orchestrate the devastation of a neighborhood.  The message that feeding off of others is morally abhorrent must be sent across the wires post haste, and loud and clear.  The message that dollars matter significantly less than people must be heard.  The message that predatory actions upon the least among us is not acceptable.  Excuse me, NOT acceptable.  I don't normally like to shout, but that one needs shouted.  It is my hope that this case is just the beginning of a deluge. 

On a tangential note, this same stand-up human being, Mark Kellogg, is also being charged with breaking and entering a home in order to steal the copper piping.  Yep, prize-winner, he.

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