Egads, I thought white collar organized crime figures averaged at least 18 months in prison. Now I’m the one who looks totally stupid. My deepest apologies to those of you I unintentionally deceived.
But Federal Judge Mahan in Las Vegas keeps handing down kindergarten sentences to the organized crime figures who stole millions and millions of dollars from Las Vegas homeowners. Kindergarten sentences: You know, “Go stand in the corner for ten minutes, Billie. You’re a bad, bad boy!”
Officially, these criminals stole only 7 million dollars in their HOA scam. Ultimately, history will tell you they stole more than 100 million dollars. And the Las Vegas housing market may never recover. In fact, with the recent Nevada Supreme Court decision that HOA liens are super-priority liens which can cancel the original mortgage loan, the lending market is refusing to lend ANY money to a home in a homeowners association. That means thousands, maybe tens of thousands of Nevada homes are sitting empty. They’re unsalable. The ongoing crime is the one committed by this federal judge!
Some of the worst criminals are being sentenced to one year and one day, like this cop:
Others are being sentenced to a few months of home detention. (Gosh, I’m at home taking care of an ill wife. That’s home detention and I didn’t steal anything!)
Meanwhile, the Las Vegas housing market is in a free fall.