NOTICE: Many of the thousands of Unit Owners may have read
SCANDALS, PART #7B; also,
many have not; and, if you happen to have missed it entirely, --
it is repeated herein below exactly
as originally posted. Bear in mind as you read this scandal
that these two UCO officers,
Israel and
Black, UCO's
President and Treasurer (at the time) respectively, were entrusted to guard
against
the making of any illicit deals that could cause harm to Century
Village. Yet their scheme went
ahead and they executed a sophisticated con game right before your
very eyes. SCANDALS,
PART #7B reveals how this con game went down.
“So what if they steal, as long as it’s not too much.”
When Israel and Black schemed to get every nickel from
all of the UCO accounts to pay for the paving contracts, they came to realize
that they couldn’t permanently borrow enough money from these already depleted
accounts to make the paving payments.
So, what Cue-ball and Black-ball did was to go to Bank Atlantic (which
is now BB&T), and ask for a loan – IT WAS A $750,000 LINE OF CREDIT.
People were beginning to wise up to the scam, but it was
too late; the Delegates were conned into approving it. They were convinced by Israel and Black that
we would probably never really need to draw down on the line of credit because,
they said that “WE HAVE PLENTY OF MONEY.”
We didn’t have “plenty of money”; that statement was a LIE straight to
your face.
What was not told to anyone was that if you wanted to
draw down, say $100,000.00, against the Line of Credit, you needed to satisfy
the Bank’s requirement of putting up that same amount of money - $100,000.00 -
as collateral. Who in their right mind
would do that? Even the Bank advised
against it. But, that is what Israel and
Black agreed to; and Israel signed those bank documents.
But, it doesn’t end at that point, -- there were closing
costs comprised of Documentary Stamps, Loan Processing Fee, Courier Fee, IRS
Income Transcript Fees, lender’s Attorneys’ Fee and Costs, all of which were
NON-REFUNDABLE whether you borrowed any of the loan monies or not. These fees came to $6,270.00. UCO’s attorney may or may not have been paid
in addition for his services. Israel and
Black wouldn’t tell you about these bank fees because they needed to have it
kept top secret. NOW, THIS IS A SCANDAL!
Doing back-room business is the Israel/Black way of
pulling the wool over your eyes, -- and the sad, sad part about it is that they
know they can do it and nobody is going to questions what they’re doing.
As it turned out, Dorothy Tetro became the Treasurer and
was miraculously able, with professional assistance, to figure out how to make
everything work without borrowing any of the Line of Credit monies. The books are open to anyone who wants to
look at them. You should know, however,
that Israel may require you to put your request for records in writing, state
the Florida Statute under which you seek
such information, and state the reasons why you want to view this
information. These are
Cue-ball/Black/ball secrets – top secret information.
It doesn’t really
matter whether you mishandle $10.00 or $10,000.00, you can still be arrested and
incarcerated.
Cue-ball, Black-ball and No-balls want Dorothy Tetro out
of office because she is unquestionably honest and she knows much too much
about what one officer and two former office holders have done that involves
MONEY. She is following the money trail,
and she’s apparently getting very close.
The cost of the Line of Credit, $6,270.00, signed by
Israel, was just supposed to go away, -- disappear. You’ll never know anything . . . “forget about it,” as the crooks say. And, with the Israel/Black premise of all the
money in one pot, about $7,000,000.00, and you not knowing where it is going at
any one time because of concealed records, or lost records, or inconsistent
records, or you need a letter with reasons for wanting to know, -- well – use
your heads, -- use your common sense, -- the money was DISAPPEARING, and you’ll
never be able to prove what happened to it.
Crooks do this kind of thing all the time. Con jobs, a specialty. Sixty Minutes on TV picked up these kinds of
things all the time. If criminals know
that they can get away with stealing and robbing, then they’ll do it. Century Village, -- a lot of dead brains out
there who say: “so what if they steal, as long as it’s not too much.” INCREDIBLE, ABSOLUTELY INCREDIBLE.
What Israel and Black conjured up was an illegal shell
game done right before your very eyes.
Marshall just shook his head up and down. Follow the money trail . . . it’s a SCANDAL.
EDUARDO