Discussion of various forms of Advance Fee Fraud, including application fees for loans that never materialize, self-liquidating loan scams, as well as mortgage elimination scams and related debt elimination scams [Nigerian-type scams should go in the Nigerian 4-1-9 forum]
Judge Roy Bean
- Judge for the District of Quatloosia
- Posts: 3566
- Joined: Tue May 17, 2005 7:04 pm
- Location: West of the Pecos
The perpetrator of the "Gateway" program has been sentenced to 25 years.
(Original conviction PR: http://www.fbi.gov/losangeles/press-releases/2011/la012411.htm
McGrue and the others falsely told homeowners that, if they paid an enrollment fee and monthly rent and signed over title of their homes to Gateway, McGrue would use “bonded promissory notes” purportedly drawn on a U.S. Treasury Department account to pay off their mortgages, thereby stopping foreclosure proceedings. The homeowners were falsely told that lenders were legally required to accept the notes, that they would be able to buy their homes back from Gateway International at a discount, and that they would receive up to $25,000, even if they chose not to re-purchase their houses.
Compared to this guy, Johnson and Heineman got off easy.
The Honorable Judge Roy Bean
The world is a car and you're a crash-test dummy.
The Devil Makes Three
I'm not too sure if I would agree with Johnson and Heineman getting off easy. They got 25 and 21 years respectively. Only being able to exit prison after their 65th birthdays.
Who did, in my opinion, get off easy was McGrue co-conspirators: Gerald Guidry and Ronald Morgan. Guidry pleaded guilty to conspiracy and making false statements and faced a maximum statutory sentence of 10 years and Morgan pleaded guilty to conspiracy, facing a maximum statutory sentence of 5 years.
Thanks for the post,
Mod redacts commercial link. No commercials, please.
Last edited by wserra on Thu Dec 08, 2011 12:08 pm, edited 1 time in total.
Reason: Redact commercial link.
I would like to comment on all the messages going back and forth regarding Bonded Promissory Notes. First I think everyone is getting confused about Bonds in general. There are several types of Bonds and each one has its own purpose. It was further part of the conspiracy that the conspirators would and did keep the total price of the purchase of the books under $10,000 so that the process of purchasing the books would not have to go through the bid process,” the indictment stated.
signature line removed for advertising
Last edited by wserra on Thu Dec 08, 2011 12:06 pm, edited 1 time in total.