2012年7月11日 星期三

Romano used the money to buy another apartment complex

The couple who spoke to CLIFFVIEW PILOT said they’d known Romano and her father a long time and considered them good friends. The husband, a construction contractor by trade, had even been her second wedding photographer.

Five years ago,Our iwcreplicawatches sale will offer you many fashionable IWC watches. court records show, Romano approached him about serving as a general contractor for properties she was buying cheaply in Paterson, with the intent to "flip" them for significant profit.

He took on roughly a dozen projects, and said he even loaned money to Romano and her business partner to help keep their business going.

Romano, in turn, promised to repay him from the money she made on the flipped properties, the 57-year-old victim said.

Roughly a year had gone by when Romano approached him again, this time about investing with her in real estate in Oklahoma – specifically, an apartment complex that she wanted to buy.

The couple didn’t have enough liquid assets to qualify for an investment, so Romano “induced” them to “participate in a complex set of transactions” in which commercial property they owned in West Caldwell would become equity for the big deal.

A limited liability company “nominally owed by Romano’s mother but in reality controlled by Romano” bought the property for $750,000.

Romano then arranged for a $475,From Jessica Simpson Pumps to LAMB Pumpsshoespumps,000 mortgage loan, $50,000 of which was used to pay off the couple’s outstanding mortgage on the West Caldwell property.

She was supposed to use the rest of the money as the couple’s down payment on the Oklahoma development – known as the Boulder Creek Apartment complex – for which they’d get 50% ownership, federal records show.

Romano agreed that profits from Boulder Creek would then go toward the new mortgage on the West Caldwell property. It eventually would be returned to the couple, under their agreement with her.

However, Romano used the money to buy another apartment complex, while holding onto the property in West Caldwell, court papers show.

To top it off,Shop womens sandals at Macy's. Buy popular wedgeshoes and strappy sandals. Romano returned to the couple and got an addition $120,000 that was to serve as a 10% down payment on another Oklahoma apartment complex, named Greystoke.Official Chanel store with full collection of Men's and ladies'chanelwatches.

Just before the Greystoke deal was to close, records show, Romano called the couple “and claimed that the Oklahoma bank that was to provide the purchase' mortgage loan had revised its down payment requirements so that [the couple] would need to provide another $l20,000 to make the purchase possible.paneraireplicas, Panerai replica watches, replica Panerai, replica omega,

Romano used the money for a mortgage on Greystoke – only in the name of a company that she created, federal authorities said.

From 2008 through 2009, Romano wormed $890,000 from the couple for proposed investments in various real estate ventures in Oklahoma that she promised they’d own jointly.

"That money has not been returned, and Romano did not put any of the funds solicited from the [couple] to the uses for which she had solicited them," a complaint on file in U.S. District Court in Trenton says.

"The good news is that they took our case and went after her again," the husband told CLIFFVIEW PILOT. "Hopefully, this time she will be put away."

沒有留言:

張貼留言