Category: Fraud

As with other properties and victims, Williams urged the potential buyers of the Wynspire property to falsely claim owner-occupancy.

Williams forged an already fraudulent Verification of Rent by altering the amount by putting a “1,” in front of the $300 on the VOR that VICTIM 2s mother had earlier produced. Williams changed that document from $300 per month, to $1,300 per month. When the result looked obviously forged, Williams asked the buyer to obtain a new, false VOR to indicate $1,300 a month rent paid, to fraudulently qualify for a $500,000 mortgage.

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 6, 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 1’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 1 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 1 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.