(Investigation by Denver Police and Arvada Police, APD Case #07-2553, Williams was picked up for a mental health hold by Douglas County)
Regarding Williams repeated attempted sale of the “Wynspire property” located in Highlands Ranch, CO.
VICTIM E.H, employed as a master plumber with a well-established Plumbing company, realized the mortgage fraud that Williams was committing “supposedly on my behalf,” and to purchase this property for 50% over its reasonably estimated value. Two days before closing, VICTIM E.H backed out of the deal. Williams began to berate VICTIM E.H, and informed the victim that Williams had purchased a gun the day before (which he actually had purchased). Williams indicated that he had put $4,000 of his own money as down payment toward the purchase of this house, and if VICTIM E.H backed out, the victim would be robbing Williams of that $4,000. [Williams also makes other related financial claims against VICTIM E.H] VICTIM E.H claims that at this point Williams threatened to kill both VICTIM E.H and VICTIM E.H’s spouse. Local law enforcement picked up Williams for other death threats that Williams made in statements to VICTIM B.S, and VICTIM A.S.
Williams planned to quickly sell this $320,000 house for $480,000 house to friends or family by committing mortgage fraud, including disguising $80,000 cash back to the buyer as bona fide remodeling funds. Williams offered to sell the Wynspire house to VICTIM E.H, then VICTIM B.J, and eventually VICTIM J.E promising $80,000 cash back.
Williams purchased a $320,000 Highlands Ranch home by mortgage fraud, immediately after he bought his residential loft at Downing Street, Denver CO. Williams essentially copied the mortgage application he used to buy his Downing Street loft, and submitted the copy of that application to qualify for the Wynspire purchase. He withheld from the lender the fact that he had just increased his debt load by more than $300,000 with the purchase of that Downing Street loft. Williams accurately calculated that the Wynspire closing was so soon after the loft closing that it would not show up on any credit check, etc., so that he could purchase two properties even if he only qualified for one.
As recorded here and here, Williams systematically urged his buyers to falsely claim owner-occupancy. For example, he did this in early 2005 with VICTIM C.S, urging her to apply for an owner-occupancy mortgage for a townhouse at Parkington Lane, Highlands Ranch, CO, when in actuality she lived with her husband at Coors Way, Arvada CO.
Same as recorded elsewhere on this website, during the sale of a Yosemite Street Condominium unit owned by Williams, Williams signed the Special Warranty Deed, falsely indicating that the buyer’s legal address was that of the unit being purchased. Williams had instructed the buyer to take a photo of himself at the property in a bathrobe to prove he had lived there (something Williams made a habit of advising). The buyer adamantly indicated that he would not lie about the address of his residence and also that he would not agree to William’s frequent urging to apply for an owner-occupied mortgage.
However, the Disclosure Notices document, “Affidavit of Occupancy” is marked correctly, as “Investment Property.”
Williams stated on VICTIM J.E’s mortgage application for purchase of a unit in the Yosemite Street Condominium complex, $5,000 monthly income which was a gross exaggeration, thousands of dollars higher than actual.
“Gross Rental Income” listed as a combined $2,000 for the two previous condo units sold to VICTIM J.E by Williams in the Yosemite Street Condominium complex, whereas these distressed properties had no tenants, and therefore no rent fees at all had been collected.
VICTIM J.E on the mortgage application for the a Yosemite Street Condominium unit“Is any part amount of the down payment borrowed?”
Williams check marked: “No.” However, he architected this and the previous deals, and knew that the entire down payment was borrowed via fraudulent “cash back” schemes and would need to be repaid.
In assembling the buyer’s (VICTIM J.E) mortgage application, Williams knowingly misrepresented buyer’s assets. Williams indicated Net Worth (“a” minus “b”) assets of $46,978, which amount did not represent assets, but actually, the liability of funds borrowed in “cash back” schemes of two previous condo units at the Yosemite Street Condominium complex.
On the same page of the same form, Total Liabilities list the buyer’s combined three mortgages as $303,757, which is about $20,000 less than they actually total.
On the application filled out by Williams for the sale of a unit in the Yosemite Street Condominium complex: “Line 8. Is this transaction among related parties? Indicate whether the buyer or seller are related.”
Williams falsely checked the box that indicates “No.”
Williams committed this fraud to conceal existing and planned extensive fraud that he had devised, using his ignorant cousins VICTIM J.E & VICTIM B.J, who now admit partial complicity, to quickly create hundreds of thousands of dollars of “profit” on distressed, long-vacant buildings.