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More Dirt Dredged Up Against Greene in Florida

Down in Florida, the St. Petersburg Times has launched yet another rocket at billionaire and Democratic U.S. Senate candidate Jeff Greene: At a project called

Jul 31, 2020
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Down in Florida, the St. Petersburg Times has launched yet another rocketat billionaire and Democratic U.S. Senate candidate Jeff Greene:
At a project called La Mirage, Greene converted 1950s-era military housing from apartments to 300 condos. In the summer of 2006, just** **as he was starting to make his bets against the sub-prime housing market, records show that Greene’s company unloaded the units, some for as much as $165,000. The buyers turned out to be people who never intended to own the properties or pay back the loans. [...]
Within 18 months, all of the La Mirage buyers defaulted on their loans and every condo was in foreclosure. Low-income tenants, still paying rent and unaware their apartments had been sold, found themselves on the street. Lenders recouped about $25,000 per unit when the properties went up for auction. Banks — and ultimately U.S. taxpayers who bailed out the banks — were left holding the bag on nearly $34 million of worthless paper.
Now James Delbert McConville, Greene’s counterpart** **in the transaction, is in jail facing criminal charges of conspiracy and money laundering stemming in part from the La Mirage transaction. The assistant U.S. attorney says the FBI is still trying to put a dollar figure on McConville’s alleged fraud, and is ramping up its investigation of the La Mirage deal.
Greene is unlikely to be legally implicated in the criminal charges facing McConville, but the article argues that his actions — signing blank deeds and sending them to his escrow company — helped enable the fraud to take place. In either case, his response to the charges is unlikely to endear him to voters:
“I’m always signing blank deeds. That’s how an escrow company works,” Greene said. “If he (McConville) put the deeds in other people’s names, that’s his business. All I care about is that I get my money.”
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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