Part 2: Kings March On . . . Early Returns
Research into the King brothers’ HUD-FHA scam & sentencing on Sept. 24 raises troubling concerns. Charles & Wm. King launched a HUD-FHA scam using the W. Side Buffalo address 296 Baynes. (Illegally non-resident City Hearing Officer Greg Fina, Esq. held the mortgage on Baynes, his last city address, until they sold it in 1996. (Kenmore resident Fina, VP of WS Neigh.Hous. Serv. may have helped launch a housing scamfrom his fromer home). HUD foreclosed Baynes in 1999 ($103,000) & resold it ($8,001), resulting in HUD’s biggest loss ($95,000) on any of many impending foreclosures of King scam sales. They were sentenced for lying on govern-ment documents on merely 5 of dozens of scam sales, which will likely eventually cost HUD $1 million in foreclosure costs. The houses charged in guilty plea agreement (for illegally gifting cash for closing costs & lied on HUD forms) are: Address Closing date Cash ‘Gift” Unpaid loan Balance
97 Floss (sold) 2/28/97 $2,000 $64,000?
455 Lisbon 6/27/97 $3,000 $63,635
142 Hagen 10/20/98 $3,400 $47,235
35 Hazelwood 8/3/98 $2,000 $50,497
68 Peace 9/7/98 $2,200 $58,393
Court-ordered Restitution to HUD (less sale proceeds after foreclosed) $273,517
Never mentioned is a troubling King partnership with an early ‘victim’ John F. Early. Charles King (using the Baynes address) sold Early (then allegedly living at 184 Freund) 244 Brinkman in 1994 with an FHA-insured mortgage. Basic data is: 244 Brinkman to Steven M. Turner 11/1/93 $15,000
Turner (partner?) to Charles King 11/9/93 $1
King to John F. Early 4/15/94 $47,900
Foreclosed to 1st Nationwide Mortgage 4/16/01 $50,611
Yet to be resold by HUD (FHA loan #372-2398532-79) likely under $20,000 HUD loss: $30,000?
Despite Early’s problems with his 244 Brinkman purchase from King, Early & King are now very close. John Early has 2 phones listed . . . one at King’s home (45 Mahogany, 636-5416) & 422 Teakwood (565-0542) where he apparently lives with his wife Grecia Madera-Early. He apparently never lived at Brinkman (listing 422 Teakwood, 2020 Northwood Dr., 1345 N Forest, all in Wmsville & 184 Freund on voting records instead).
Troublingly, Charles & Wm King filed 8 new business names in July & August, 2000, merely 3 months after their April guilty plea. John Early also filed DBA’s (‘doing business as’): Web Tech Interiors (6/29/00),
Suriel Development Corp. (9/28/00), & Custom Home & Finance (11/30/00).
Clearly, Suriel Development, which has no business listing nor phone, is the progeny of Charles King, not John Early. Suriel acquired its first house on 10/27/00 & sold it a month later for over three times what they paid:
155 LaSalle Greenwich Cap. Financial Products Inc to Suriel 10/27/00 $16,100
Suriel to Robert Cormack 11/30/00 $55,000 Mark-up $39,900
Mark-up on their last two sales (both are court-ordered sales) are similar:
67 Rounds, M& T to Suriel 6/5/01 $23,000; to Imogene Rice 10/1/01 $64,900 MARKUP $41,900
105 Eller, Keybank to Suriel 7/25/01 $17,000 . . to Nicole Evans 10/1/01 $61,900 MARKUP $44,900
SURIEL has sold 20 houses since November 30, 2000. That is an average of two sales per month. The lowest markup was $30,100. Highest Markup was $53,900. Average markup on 20 sales was over $41,000.
Another distressing discovery is Charles King’s January 8, 2001 filing of another business name Frontier Capital Corp. Its address, 2762 Ridgeway Ave, Rochester 14626 (phone 510-5716) is King’s former home address on his voting card (2/2/98) changing his address to 45 Mahogany, Williamsville.
It appears that the court was given misleading, or outright dishonest, testimony. The Kings seem to be as busy selling real estate as ever, at prices far above typical neighborhood values. The Kings appear to be neither unable to work & poor . . nor repentant.
MORE TO COME
Richard Kern, MSW, 882-2388, Oct 3, 2001
WEBSITE: www.kernwatch.com email: Kernwatch@AOL.com
