Monday, August 10, 2009

oh the drama of defalcation...

"Anytime you're talking about $10 million, you're not talking about a drop in the bucket. It's a major defalcation," said Larry Saichek, the court-appointed receiver in charge of Flagler's case.

Flagler Title's underwriters already have paid about $5 million in claims. Other claims still are being investigated, while a few have been denied. These claims are from people who had deposit money held by Flagler or people who were supposed to have mortgages paid by Flagler. Also making claims are real estate agents owed commission checks on sales.

And where in the world is Roger Gamblin? "Hell if I know," Saichek said.

None of the lawyers contacted said they know where he is.

Read more in the Palm Beach Post.

1 comment:

Michael L. Rubin said...

Nothing hits our industry harder than a defalcation shrouded in mystery and theft. I can't believe that we are so far into this correction and still weeding out title agents like this. I was hoping we would have moved past this point.

Michael Rubin