Friday, April 24, 2009

The Devious Ways of Moishe Alexander - Please READ

As an example of how
Alexander distorts the truth, an excerpt from one of his lengthy memos:

Moishe Writes: On July 25, 2008, in response to your client’s demand to provide evidence of the ability to fund the transaction, our attorneys provided your attorney with the enclosed letter, which included a letter from Mr. Martin Lapedus confirming our ability to fund the transactions between ourselves and our joint venture partners. (TURNS OUT THAT WHILE WE DONT KNOW THE BALANCE OF THEIR ACCOUNTS AT TD CANADA, THEY ARE NOWHERE NEAR THE $300M + IN COMMITMENTS PROVIDED BY ALEXANDER)

(This letter referenced TD Canada Trust, whom we know, is not a JV partner of Moishe Alexander and has no interest or afiliation to fund or commit funding to this transaction)

Moishe Writes: On July 29, 2008, Mr. Lapedus confirmed his meeting with TD Canada Trust. He also confirmed their commitment to fund these projects with us, provided that the client comply with the terms of the commitments. (NOT TRUE)

Moishe Writes: On July 30, 2008, Mr. Lapedus provided us with the enclosed update from his meeting with TD Canada Trust. (HE WAS SOLICITING THE DEAL TO THEM - TRYING TO GET THEM JUST TO LOOK AT THE DEAL)

Moishe Writes: Again, the TD Canada Trust reaffirms their commitment to fund these projects on a joint venture basis providing that the borrowers comply with the terms of the commitments for all 3 of the projects. (ONCE AGAIN, A PURE DISTORTION OF THE TRUTH - TD CANADA TRUST NEVER AFFIRMED ANYTHING AND NEVER HAD ANY INTEREST OR COMMITMENT TO LEND)

Does Moishe/ Sandy think anyone would believe that a major Bank like T.D. Canada Trust would enter into a Joint Venture Partnership with a 20 year convicted career criminal? A guy whose entire life was drug dealing, fraud and financial crimes. Just the kind of relationships the bank is seeking for one of Canada's largest financial institutions. A guy who has an office that is a $35. per month UPS postal box center that he advertises as a "suite". The lie is exposed and confirmed by T.D. Canada's Lawyers. Give it up Moishe, you are caught like a rat in the trap. There never was a JVP agreement. Now what is the next lie? Maybe he will go back to what he told me when I was in Canada, that the infamous wealthy Jewish Orthodox Reichman Family is his JVP.
Even someone like Donald Trump would have difficulty getting $300 Million funded in todays lending market. Moishe should have kept his ripp offs to 50K and under on smaller loan amounts. I don't think the guy who came up with $1,800,000. is going to walk away so easy. Great scam, but he got a little too greedy. I predict that Moishe is going down for the count on that one. I don't think changing his name and religion will work this time, he has already played that card. I wonder if he will be able to keep a kosher diet in the slammer?

Originally Posted by M. Alexander View Post

Anyone at all familiar with the mortgage industry will quickly realize that the so-called "scam" listed above is more one person's griping about a deal gone bad than an actual lending scam. (1) Anybody who reads the fact that over 10 different parties have confirmed that they have gone through the scenario above to the exact specification of the description is not "one" person griping about an isolated incident. (2) There are people out of Miami, West Palm Beach, Panama City, Orando, and Canada that have confirmed the same events happened to them. (3) Add this together with the 20+ years of fraud, drug dealing, extortion as a drug dealer/so called paralegal and you have a "professional con artist." (4) Add this together with the fact that we have communicated with TD Canada Trust and they have confirmed the lies as well as 2 attorneys out of Canada who were "petrified" to see how closely all the cases resemble each other. Coincidence?

Unfortunately, the author of this so-called “report” spends more time calling names, slinging mud and making accusations than he does actually making a case for any “scam.”
While I could sit her all day and list the lies and distortions, let me name a few:

1) In numerous telephone conversations, correspondence (which i have provided evidence of), and face to face, Moishe Alexander has reiterated that he is a joint venture partner of TD Canada Trust. This is a lie and is certainly a scam

2) Jan Luistermans the resident "appraisal expert" was passed off as the former head of london board of appraisers. Yet he does not have 1 hour of appraisal experience or licensing in Canada or the U.S. He comes down and "approves" the project and then "devalues" it so as not to provide funding. Noticed how he has inspected properties in his letter, not appraised them. Nor does he give any indication that he gave them value.

3) Our client was issued a commitment from Moishe Alexander for $80M, $215M, and $25M. Yet, when we relayed this information to his bank they were astonished and confused that that level of commitment was provided with what is a clear indication that Alexander doesn't have anywhere near these amounts in the bank. Not only has the banks attorney sent a letter to Alexander, we believe that any banking relationship, including the "substantial" credit line that David McKenzie wrote describing Moishe's vague relationship with TD will soon be severed if it hasnt already. I wouldnt be surprised if TD completely stops servicing bank accounts for a prior convicted up to no good on a much larger scale. This comes months after Alexander indicated over and over that his so called partners had already assembled the funds by moving money from various CD's and investments to help Moishe fund this deal. This was reiterated by Moishe nearly 4 months ago

4) What TD Canada would eventually realize is that wires from different parts of the country were coming into his accounts, a lot of times from the attorneys who were working the deal with him

Usually borrowers come to private lenders because they don't qualify for a loan at a primary financial institution. To compensate for the higher risk, private lenders are compensated through slightly higher interest rates and administration fees. There is nothing illegal or unsavoury about this.
There certainly is something illegal when you have created a criminal enterprise by committing money you dont have, taking advanced fees, and never intending to fund a deal.

Lets think about this logically...If you commit to lend money you don't have, its obvious that your only option in these dealings is to find a way to back out of the deal by pinning something to the borrower. In the absence of having the actual capital, it is obvious that a good borrower or bad borrower will always yield the same result. It doesnt matter if the borrower meets all the qualifications, Moishe doesnt have the money to lend. Put this together with his distortions, lies, and clear history of manipulation and deceit and you get a "scam."

Asking for a deposit up front is not only acceptable, but prudent. It is also completely legal as anyone who has ever conducted any business will know. What the author doesn’t explain is that these deposits are only a small portion of the overall fees that are due. More importantly, is that in most cases they are refundable if the deal doesn’t close.

If Sandy Hutchens was disclosed to us from the beginning, do you think anyone would want to do business with Moishe Alexander? Of course not. In fact, I think that the fact that Moishe got up here and wrote this weak case shows that he knows that anybody doing business with him will read the events as they have taken place and if they have 1 ounce of doubt to forward that advance fee, we would have won.

I always send out my commitments to all parties for review. It is the responsibility of all parties to ensure that they can meet the conditions of any agreement that they sign. All parties are given the opportunity to review all documents and seek legal advice before signing any commitments. In many cases, we make obtaining legal advice an actual condition of the commitment.
Why don't you explain to everyone why you don't even follow your own commitments for money you dont have? We already know you dont have the cash or the partners, why completely manipulate the commitment and choose not to follow it. In a later posting, I will site 10 different instances when Alexander fails to follow his own commitment. The commitment is not worth the value of the paper its written on, we all know that already.

If the author feels that something illegal has taken place, it is their right to pursue legal action to remedy the situation. However, to report our valid loan commitment as a scam, is both irresponsible and unprofessional. The author and his client had every opportunity to review our loan commitment before signing it. That same commitment has been reviewed and signed by hundreds of borrowers, mortgage brokers and attorneys and none of them have suggested that it is in anyway fraudulent or illegal.
I can barely believe that you have a $200,000 mortgage on a condo in West Palm. You probably paid the guy to sign a mortgage for a property he already owned free and clear, had him give you the money right back, and still kept the mortgage recorded in the records to show that you did a loan while agreeing with him on the side to keep it quiet. Somebody should reach out to that guy and find out the truth. Moishe, I could care less if you say you have hundreds of mortgages and whether or not what you say is true. The fact is that even if it were true by some miraculous event, they are small second, third, or 4th mortgages and watch out, the people better be careful that you are not deeded on their property or you took ownership in some part of their business while they were thinking they were signing closing docs, they were really signing away their business and assets.

Unfortunately, there are many people who will try to take advantage of a private lender like myself. It is important for me to protect myself, my investors, my brokers and anyone else involved in the transactions.
The best thing you can do to protect those guys is to take them off your web site and make sure that they dont associate with you in any capacity.

Anyone who has done business with me knows that when the borrower complies with all the terms of the commitment, they get full funding. Had the author bothered to read any of the letters and testimonials sent to him and which are available from numerous law firms, accounting agencies and mortgage brokers, he wouldn't make such outlandish claims.
This is what i find laughable. You place letters of recommendation on your web site from people who supposedly work for you. Hmmm...i guess this isnt biased information.

Let's see: You put a letter up by Marty Lapedus that was describing a completely different review of something that he did not approve of.

You have a letter from Jan Luistermans, the non-appraiser who is actually a realtor but is your VP of valuations

You have a letter from Barry Paulson who is supposed to be your legal counsel in Canada, also part of your staff

You had a letter on their from TD Canada Trust, which their attorney demanded yout take down because it was a misrepresentation.

You have a letter from Guiseppe strazerri who is on your staff.

I find it completely laughable that that section of the site was supposed to be recommendations from someone who actually got a loan from Moishe Alexander.

I guess it would be too difficult to provide evidence of legal recordings in the record books for mortgages you actually did close. In order to have a valid mortgage it must be recorded in the PUBLIC records. We have yet to find anything that you have funded that is over $1M

I have closed hundreds of deals and thanks to the author of this report, am now adding a page to my website with further details including pictures, articles, names and details of some of these closed transactions. (Bear in mind that due to privacy legislation in Canada, it is not possible to list the details of every deal I’ve ever done, without prior written consent).

In the case of the author, I was quite surprised to see such a diatribe from him.

To be clear, the borrower on these deals represented to me that he was the 100% owner of the project, that the project was 100% sold out and that the values were the same as what the end purchasers paid for the units. In reality, 325 of the 477 units were sold on illegal contracts. Another 83 were in fact, not sold at all. Therefore 85% were NOT SOLD. Hence, none of what was presented was true.

The borrower’s attorney then suggested that we agree to insert valid purchase and sale agreements in the closing docs to the end purchasers, without telling them that their existing agreements were invalid. This would have been fraud. When we refused, they stated that they would not comply with the balance of the commitment nor proceed with the deal. As a result, they forfeited their deposits.

In other words, the borrower breached the terms of their commitment and in fact, tried to get us to commit fraud. If anyone was being scammed, it was us.

Now this is where the real lies and misrepresentations come out. Lets tell the truth:

1) At the current moment those contracts are "valid and legal." There is a case in the state of Florida (COMPLETELY OUT OF OUR CONTROL) which is in appeals. For the sake of safety, we understand that we had to move forward assuming the worst case scenario, that our contracts would become invalid due to a decision by the court, which by the way, will not be decided until next year some time.

2) The fact that Moishe tries to get up here and list these contracts as "illegal" is a misrepresentation and a lie, which of course, nobody who is reading this is surpised to see. THIS IS THE EXACT TYPE OF DECEPTION YOU WILL GET WHEN DEALING WITH MOISHE ALEXANDER. THIS IS HOW HE DERAILS A DEAL.

3) The truth is that today, September 25, all contracts are fully valid. In the future, if the court decides a case which no attorney agrees will be upheld, they MAY become invalid. I will concede that there is the "possibility" that they could become invalid in a year or two because of the court decision.

4) The attorney never suggested slipping it by the borrower without telling them why they had to sign a new contract. Because we are dealing with 1,400 buyers in the UK, of course it would make sense to FedEx all the documents for them to sign at one time since overnight packages can cost $30-60 per borrower per package . No reason to spend $50-100K on overnights. That is ridiculous. MOISHE, IN HIS USUAL CON-MAN MODE WILL SAY THAT THIS IS FRAUD. ONCE AGAIN, HE HAS GIVEN CLEAR INSIGHT INTO HOW HE MANIPULATES A SITUATION FOR HIS BENEFIT SO THAT HE CAN KEEP HIS ADVANCED FEES AND SAY THAT YOU FORFEIT. MAKE NO MISTAKE, ANYONE WHO DEALS WITH ALEXANDER WILL GET THE SAME RESULT.

The extensive name calling and whining is inappropriate and unacceptable.

To the author: you have hurled numerous accusations at myself, my attorneys and many of the parties involved in my business. I hereby put you on notice that I will be pursuing legal actions against this online slander as will my attorneys whom you falsely accuse of corruption.

I look forward to comparing notes and witnessing the event. I can see the headlines now:

"Orthodox Jew Professional Con Man cries foul/fraud in court; Claims online ad is hurting fraud business"

Govern yourself accordingly.

As a final note, the author makes numerous accusations in his original posting. For those who are interested, I have a full response to each and every allegation, available upon request (it’s too long to post here).

Once again, I look forward to further insight showing the details on exactly how you manipulated victims of your fraud business. And if they're too long for you to post them, dont worry, I will...

1 comment:

poeangst said...

I have it from excellent sources that Sandy Hutchins- Moishe Alexander con artist and criminal has run out of his 9 lives as a career criminal. One more complaint will be his last. If you have anything to report do it now and save the world from this despicable pigs con games.