Williams was assembling the buyer’s mortgage application, and urged the buyer to make a five percent down payment, however buyer insisted on putting ten percent down to get a better mortgage rate. At closing, the buyer found out that Williams had instructed the mortgage broker, Andy Inhelder, to prepare the loan with the five percent down payment that Williams had insisted upon, against the buyer’s direct instruction. Williams explained that his motivation was to get more cash back to the buyer, to use those funds to apply for additional units, as he repeatedly claimed, he was putting his clients on “the fast track,” to make them rich quickly.
HUD-1 Disguised Cash Back as HOA Assessment
After closing, Williams retained the buyer’s ““cash back”” toward future transactions. The buyer later learned that his “cash back” had been disguised on the closing documents as an HOA Assessment Fee.
Possibly Misrepresented Commission
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.
Realtor Stole $800 of Skilled Labor from his Client
Williams, as Realtor and possible HOA president, hired the buyer (VICTIM 1) to work on William’s owned condominium units, promising to pay buyer for 40 hours of skilled labor (buyer has been employed as a contractor and plumber), payment for work to be made in credits to the HOA. Williams took the labor, and never paid the HOA as agreed, nor his client directly.
Misuse of Power of Attorney
VICTIM 3 had signed a Power of Attorney form to give Williams authority to rent out his condo. After a dispute with his own client, a third-party witness, VICTIM 2, testifies that Williams claimed that the Power of Attorney gave him virtually unlimited authority over the property, and Williams then smashed the door of the unit to gain entry, trashed and gutted the apartment, removing the kitchen cabinets, kitchen countertops, stove, refrigerator, toilet, and bathroom vanity. When VICTIM 3 discovered the damage and theft, he revoked William’s Power of Attorney and publicly posted that revocation at the unit.