The foreclosure mills have gutted our court systems and are costing taxpayers millions of dollars…and none has cost you and I more money than David J. Stern from South Florida. Where are any state or federal or Bar officials? Why is nothing being done to seize assets to help pay the public back for all this loss? It’s just a disgusting tragedy that will apparently keep costing all of us major money…..and now from the Sun Sentinel:
Two announcements last week appear to have doomed Plantation foreclosure attorney David J. Stern’s ambitions to become a national player in the repossession of homes lost by Americans during the economic downturn.
It was only a little over a year ago that Stern jumped at the opportunity to push his business and wealth to a whole new level. The underlying plan was to take the legal and financial model that had made Stern rich and successful, and reproduce it in other states.
In January 2010, the Plantation-based lawyer consummated a deal under which he took a key piece of his law firm’s operations public, with Wall Street backers agreeing to buy him out for a staggering $145 million, plus reams of stock in the newly minted corporation.
The last hopes for that grand venture appear to have vanished.
