Disclosure to Buyer Documents regarding receipt of HOA Bylaws were signed by the buyer at the direction of Williams, even though no such bylaws were given to the buyer, and over the ensuing months, the buyer repeatedly requested his Realtor, who was also claiming to be the president of the HOA, to provide a copy of the bylaws.
Excerpt of closing documents for the purchase of a Yosemite Street Condominium unit, orchestrated by Williams: Disclosure to Buyer Documents, page 4 of 7, Section 8. a. (1) indicates, “Brokerage Firm shall be paid as follows: (a) Amount. A fee equal to 3 % of the purchase price…”
It appears however, according to a Closing Statement that includes Summary of Borrower’s Transaction, at “Division of Commission (line 700) follows:” that there was a $10,628 commission paid on this $79,950 sale, which represents a 13.2% commission split equally between Williams and the realty company with which Williams worked at the time.
Williams successfully urged his client (VICTIM 2) to obtain a fraudulent Verification of Rent affidavit related to the purchase of a property located on Downing Street in Denver, CO. The buyer acknowledges guilt in this instance of fraud, while other criminal behaviors he learned of only after the fact, analyzing the documents that had been prepared for him by Williams. In a later effort to qualify this same buyer for a $480,000 property, Williams himself added a “1,” in front of the already fraudulent $300 a month, in an attempt to turn this document into a verification of rent for $1,300 a month.
Williams added his client’s name to William’s own business checking account, and then included statements from that account with the mortgage application to mislead the lender into believing that the deposits in William’s own checking account actually represented the buyer’s income. Mortgage Broker Javier Sandoval with Equity Financial Resources adamantly claimed to a group of buyers and others that this practice was legal and also acceptable within the industry. This incident related to the purchase of property located on Downing Street in Denver, CO; VICTIM 2.
Williams prepared and filed buyer’s mortgage application (VICTIM 1), and further exaggerated the buyer’s income, from the inflated $3,000 a month claimed for the previous Unit 11 (@ Yosemite Street Condominiums), to now, falsely claiming the buyer earned $5,000 a month. The buyer acknowledges guilt in some of the fraud, and other fraud he learned of only after the closing, reviewing the documents that had been prepared for him by Williams.
Williams either was, or represented himself as, the HOA president of the two condominium buildings (20 units). The buyer asked Williams, “Is the former president of the HOA available?” Williams answered, “No,” even though the former president Jewel Martin still lived on the premises.
Williams signed the Warranty Deed, falsely indicating that the buyer’s legal address was that of the unit being purchased at Yosemite Street Condominiums. Williams had instructed the buyer to take a photo of himself at the property in a bathrobe to prove he had lived there. The buyer adamantly indicated that he would not lie about the address of his residence and also that he would not agree to apply for an owner-occupied mortgage.
Yosemite Street Condominiums
Williams failed to disclose in closing documents the missing electric meters; outstanding lien by Excel Energy (for an unpaid $10,700 utility bill); nor that drug dealers lived on the premises; etc., etc.
Williams never disclosed to the buyer VICTIM 1, neither prior to, nor during, closing, the many severe problems which were well known to the realtor.
Yosemite Stree Condominiums
Williams gave the buyer the earnest money needed as a down payment for VICTIM 1 to obtain his mortgage approval and subsequent financing.
Williams assembled the buyer’s fraudulent mortgage application, arranging with the buyer to repay the loan from Williams immediately after closing out of the fraudulently-obtained cash back funds.
Williams misrepresented the value of the unit to his own client (one of many Yosemite Street Condominium deals), informing VICTIM 3 that they were worth $80,000-90,000 currently (including assurances of 10-25% appreciation over the next year). Williams has bragged to other buyers and witnesses that he had recently purchased this unit for $12,000.