Mortgages Limited
Jan 01, 2013OUTCOME: Muti-Million Dollar Settlement
We filed a lawsuit in Maricopa County Superior Court on June 1, 2010, against the national law firm of Greenberg Traurig, the national accounting firm of Mayer Hoffman McCann and others on behalf of ou ... r client Victims Recovery, LLC, a group of 18 investors who lost $52.3 million as part of the one billion dollar Mortgages Ltd. debacle. These 18 investors, who have joined forces under the banner of Victims Recovery, LLC, the Plaintiff, believe and have alleged in the Complaint that Mortgages Ltd. (“MLtd”), an Arizona mortgage banker, and its solely owned subsidiary, Mortgages Ltd. Securities, LLC (“MLS”), who perpetrated a massive fraud on investors between 2004 and 2008, could not have done so without the participation and complicity of their officers, lawyers, accountants and auditors. The Complaint paraphrases that nursery rhyme of old: “MLtd sat on a wall [in this case a proverbial ‘Chinese Wall’]; MLtd had a great fall! All the Company’s accountants and all the Company’s lawyers and auditors couldn’t put MLtd back together again!” In fact, as alleged in the Complaint, the Company’s lawyers (Greenberg Traurig), accountants and auditors (Mayer Hoffman), and the company’s CFO and other officers “made sure that MLtd would fall, leaving investors “holding the bag” of worthless paper. The case is entitled, Victims Recovery, LLC v. Greenberg Traurig, et al. (Maricopa Superior Court No. CV 2010-052188). For more details, click here or on the “More Investors Sue Greenberg Traurig and Mayer Hoffman” post. Significant pleadings in the case will be posted below. Here are pdf’s of the significant pleadings over the last seven months! We have killed a few trees, but justice is prevailing! The case settled in the summer of 2012. Mr. Miller’s clients received an excellent settlement. http://www.abajournal.com/news/article/greenberg_traurig_quarles_to_pay_88m_to_settle_suit
