A Tax Day rally targets Wells Fargo
Denver Business Journal - by Heather Draper
Date: Monday, April 18, 2011, 6:09pm MDT
Heather Draper Reporter
- Email: hdraper@bizjournals.com
That was the gist of a protest outside 1700 Broadway on Monday afternoon, where a group of 50 to 75 sign-wielding protesters braved the wind to protest what they call the “Deadbeat Dozen” — the 12 largest U.S. corporations that they claim don’t pay their fair share of taxes.
The Tax Day event was part of a nationwide campaign called “Make Them Pay,” sponsored by MoveOn.org and several other progressive organizations. Their deadbeat dozen list includes General Electric, Boeing, BP, FedEx, Google, Citigroup, Amazon, JPMorgan Chase, Goldman Sachs, ExxonMobil, Bank of America and Wells Fargo.
Their downtown Denver target was Wells, which operates at 1700 Broadway and in adjacent Wells Fargo Center.
They say the San Francisco-based bank, Colorado’s largest by deposits, has 77 offshore tax havens and should have paid $5.14 billion in taxes last year — “If they paid their fair share.” They didn’t offer documentation on how much Wells Fargo did pay last year.
“On the day when taxes are due, wealthy individuals and corporations are paying virtually nothing in taxes,” said Phil Hayes, political and legislative director of the Colorado AFL-CIO. “It’s time for those people to pay their fair share.”
Several drivers going by on Broadway honked in support as the protesters chanted and waved signs that said, “Wells Fargo Pay Your Taxes” and “We Pay Taxes. Do you?”
Wells Fargo spokeswoman Cristie Drumm said Wells Fargo paid billions in taxes last year.
“Over the last 10 years, Wells Fargo (including Wachovia) has paid more than $30 billion in income taxes to federal and state governments,” Drumm said. “In addition, we’ve paid billions in real estate, property and payroll taxes.”
Jay Espinoza, a student at Metropolitan State College of Denver, joined the protest Monday because, he said, “banks should be paying their fair share ... to help get our country out of our massive debt.”
Espinoza said he moved his money from Wells Fargo to a credit union more than two years ago after the bank accepted TARP (Troubled Asset Relief Program) funds.
Other Make Them Pay Tax Day protests in Colorado were held at the intersection of South University and Dry Creek Road, GE Analytical Instruments in Boulder, Bank of America in Boulder, Wells Fargo in Fort Collins and at Riverside Park in Salida.
http://www.wellsfargomortgagefraud.com/
Hold Wells Fargo Accountable Save the American Dream
Hold Wells Fargo Accountable. Please sign the Petition at:
http://www.change.org/petitions/view/tell_obama_to_stop_wells_fargos_predatory_mortgage_lending_practices.
In the past, if you rip off the rich, you go to jail. Bernard Madoff is the perfect example. If you rip off the poor and the working middle class, you get bail out. Now, we DEMAND if you rip off the poor and the working middle class, you will go to jail too. Rallies Attorneys General to hold banks accountable in Washington D.C. March 7th, 2011.
When Wells Fargo was defrauded like us, Wells Fargo screamed foul, demanded to rescind the loans, when refused, Wells Fargo sued like we did. In its lawsuit, Wells Fargo referred loans as to which inaccurate or untrue representations or warranties were made as the "Ineligible Loans" (inasmuch as those loans were not eligible to be sold to Wells Fargo in the first place.) Click on the following link to see case: Wells Fargo Bank, N.A. vs. Quiken Loans Inc.
Here is how Wells Fargo defrauded us!
Facts:
In the past, if you rip off the rich, you go to jail. Bernard Madoff is the perfect example. If you rip off the poor and the working middle class, you get bail out. Now, we DEMAND if you rip off the poor and the working middle class, you will go to jail too. When Wells Fargo was , Wells Fargo screamed foul, demanded to rescind the loans, when refused, Wells Fargo sued like we did. In its lawsuit, Wells Fargo referred loans as to which inaccurate or untrue representations or warranties were made as the "Ineligible Loans" (inasmuch as those loans were not eligible to be sold to Wells Fargo in the first place
http://www.change.org/petitions/view/tell_obama_to_stop_wells_fargos_predatory_mortgage_lending_practices.
In the past, if you rip off the rich, you go to jail. Bernard Madoff is the perfect example. If you rip off the poor and the working middle class, you get bail out. Now, we DEMAND if you rip off the poor and the working middle class, you will go to jail too. Rallies Attorneys General to hold banks accountable in Washington D.C. March 7th, 2011.
When Wells Fargo was defrauded like us, Wells Fargo screamed foul, demanded to rescind the loans, when refused, Wells Fargo sued like we did. In its lawsuit, Wells Fargo referred loans as to which inaccurate or untrue representations or warranties were made as the "Ineligible Loans" (inasmuch as those loans were not eligible to be sold to Wells Fargo in the first place.) Click on the following link to see case: Wells Fargo Bank, N.A. vs. Quiken Loans Inc.
Here is how Wells Fargo defrauded us!
Facts:
In the past, if you rip off the rich, you go to jail. Bernard Madoff is the perfect example. If you rip off the poor and the working middle class, you get bail out. Now, we DEMAND if you rip off the poor and the working middle class, you will go to jail too. When Wells Fargo was , Wells Fargo screamed foul, demanded to rescind the loans, when refused, Wells Fargo sued like we did. In its lawsuit, Wells Fargo referred loans as to which inaccurate or untrue representations or warranties were made as the "Ineligible Loans" (inasmuch as those loans were not eligible to be sold to Wells Fargo in the first place
In August, 2005, Wells Fargo bank made a mortgage loan to us based on fraudulent and hugely inflated appraisal.
- Wells Fargo’s fraudulent appraisal valued our home for $718,000. Click on the link to view: Fraudulent Appraisal.
- Wells Fargo’s review appraisal valued our home for $475,000. Click on the link to view: Review Appraisal
- Notice of Sale, Wells Fargo is auctioning our home on June 15, 2010, based on fraudulent appraisal and mortgage loan: Click on the link to view: Notice of Sale.
- We put $151,000 downpayment. Between 2005 and 2009 we paid Wells Fargo around $350,000.
- On June 15, 2010, Wells Fargo still foreclosed our home, knowing that it is a Category C felony to make a mortgage loan and foreclose our home based on a fraudulent appraisal.
- Wells Fargo received a total of $25 billion bailout, but refused to carry out its promise to us and rescind its fraudulent loan.
Promises:
In July, 2006, Wells Fargo Bank promised us that after its investigation, if proven the appraisal was fraudulent, it would help us to rescind the contract and help us to recover all our financial losses.
Result:
In August, 2006, Wells Fargo Bank completed its investigation. Its own review appraisal valued our home for $475,000. My home was inflated by $243,000.
Wells Fargo Bank initiated massive cover-up scheme and refused to carry out its promises to rescind the contract and help us to recover all our financial losses. Wells Fargo wrote us letters stating that "WFHM underwriting reviewed the (fraudulent) appraisal and it was found acceptable for our lending purposes." Basically, Wells Fargo is telling us that it is "legal" to make mortgage loans based on fraudulent and hugely inflated appraisals. However, based on Nevada State Statute NRS 205.372 Crime against Property, it is a Category C felony.
In March, 2007, we filed lawsuit against Wells Fargo bank for violation of Federal Truth-in-Lending, NRS 205.372 Crime against Property, Breach of Contract, Breach of Fiduciary Duty, Breach of Warranty, Fraud and Misrepresentation, Bad Faith, Punitive Damages and Negligence and Other Relief.
In June, 2008, after two years into the investigation, the Attorney General’s office ruled that Wells Fargo’s appraisal was fraudulent and suspended the appraiser’s license for committing appraisal fraud on our home. Complete Attorney General’s ruling and Wells Fargo Bank's and Rels Evaluation’s written lies can also be found under the Attorney General’s Ruling tab or the following link: Click to see Attorney General’s ruling.
Almost 2-years into our lawsuit, with the following clear evidences, there was no judgment:
- Bank’s fraudulent appraisal - valued our home for $718,000.
- Bank’s own review appraisal - valued our home for $475,000.
- Based on the Attorney General’s ruling, the appraisal used by Wells Fargo bank for our mortgage loan transaction was fraudulent and suspended the appraiser’s license.
During our first settlement conference, Chief Judge Connie Steinheimer told us that “there are NO LAWS in United States governing the appraisal and mortgage fraud situation we are in.” We immediately requested the Chief Judge Connie Steinheimer to record the conversation. However, she refused. We then clearly expressed to Chief Judge Connie Steinheimer that we believed that there are State and Federal laws governing appraisal and mortgage fraud situations we are in. If not, we would contact all government entities relevant to making laws to ensure that homeowners are protected from appraisal and mortgage fraud. We interpreted Chief Judge Connie Steinheimer's position as misleading and an abuse of her judicial power.
Shortly after, just weeks before Chief Judge Connie Steinheimer’s scheduled summary judgment ruling, she transferred the case to Judge Robert Perry, citing work overload.
In March, 2009, 2 months 3 days after Judge Robert Perry received our case, despite of the material facts, he dismissed our lawsuit on the ground of no merits. He made his summary judgment ruling in favor of Wells Fargo bank, Rels Evaluation and the appraiser T. J. Magee, who lost his license for the fraudulent appraisal he did on our home. Most erroneously, Judge Robert Perry also awarded and allowed the convicted appraisal collect $4,718.56 attorney fee from us, the direct victims of his actual appraisal fraud.
District Court Chief Judge Connie Steinheimer and Judge Robert Perry never addressed our complaints that it is illegal for Wells Fargo to make mortgage loan to us based on fraudulent and hugely inflated appraisal.
In April, 2009, we filed notice of appeal with Supreme Court
January, 12th, 2010, Wells Fargo Bank filed notice of default against our home based on fraudulent appraisal and mortgage loan.
February 18th, 2010, we filed motion for stay pending Supreme Court appeal with the District Court.
March 9th, 2010, Wells Fargo Bank filed opposition to our motion for stay. In its opposition, it quoted Chief Judge’s statement “there are no laws in United States governing the appraisal and mortgage fraud situation we are in.” as grounds of its defense and the reason for denying our motion for stay.
March 22nd, 2010, we filed a reply to Defendants’ opposition with District Court.
March 25th, 2010, District Court Judge Robert Perry denied our motion on the grounds that he has no jurisdiction. It’s an erroneous ruling and pure tactics to aid Wells Fargo bank in abusing the judicial system and encouraging Wells Fargo Bank further to victimize us.
April 1st, 2010, we filed motion for stay pending appeal with Supreme Court.
April 8th, 2010, Supreme Court denied our motion for stay. Supreme Court never addressed our statements listed in the motion for stay:
(a) It is illegal for Wells Fargo to make mortgage loan to us based on fraudulent appraisal.
(b) It is illegal for Wells Fargo to foreclose our home based on fraudulent appraisal and mortgage loan.
(a) It is illegal for Wells Fargo to make mortgage loan to us based on fraudulent appraisal.
(b) It is illegal for Wells Fargo to foreclose our home based on fraudulent appraisal and mortgage loan.
April 19th, 2010, we filed the Opening Statement with the Supreme Court. We are waiting for Supreme Court’s ruling.
June 1st, 2010, we filed Motion to Enlarge Time to File Reconsideration and Emergency Motion for Reconsideration. Nevada Supreme Court denied our motion to save our home.
June 15th, 2010 we filed the Lis Pendens with Nevada Supreme Court, alerting everyone that there is litigation on our home. However, November 3, 2010, Wells Fargo instructed its attorneys to file with Nevada Second Judicial District Court to dismiss our Lis Pendens and demand us to appear in front of the Judge to show cause why Wells Fargo can't foreclose our home based on fraudulent appraisal and fraudulent mortgage loan. Here is our response: Motion to Dismiss Expunge of Lis Pendens.
This is how Wells Fargo's counsels address our Motion to Dismiss Expunge of Lis Pendens . Wells Fargo Counsels non-defense defense. Most obviously, Wells Fargo's counsels made no defense or explanation on how its client Wells Fargo can legally under Nevada State Law to
- originate mortgage loan based on huely inflated and fraudulent appraisal.
- knowingly record Notice of Default and Notice of Sale based on fraudulent appraisal and fraudulent mortgage loan.
- knowingly, wrongfully foreclose home based on fraudulent appraisal and fraudulent mortgage loan.
It took substantial time for Washoe County Second Judicial Court to deny Wells Fargo's frivolous Motion to Expunge our Lis Pendens, citing no jurisdiction. Court's Ruling Denying Wells Motion to Expunge Lis Pendens. We have to file Motion and challenge the Court's jurisdiction to facilitate Wells Fargo's counsels to abuse judicial process and commit Fraud on the Court.
Almost a year ago, Wells Fargo's counsels didn't even have to responde to our Motion for Stay before Washoe County Second Judicial Court to deny our Motion for Stay, citing no jurisdiction. It also took considerable less time for the Court to make its ruling.
It's been a 6-year battle and almost 4 of them in Nevada Courts fighting against Wells Fargo's loan origination fraud, wrongful foreclosure and fraud on the court. We will fight until justice prevails.
Here is our Motion for Sanction for Frivolous Motion.
We hope that our determination in holding Wells Fargo accountable will inspire you to join the fight. The bottom line is that same laws shall also apply to big banks like Wells Fargo. If Wells Fargo and its counsels committ the fraud on the court, they should be held accountable.
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