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Fraud focus of FBI probe
Court records show Silipigno firm raid sought evidence of mortgage origination abuse

By BRENDAN J. LYONS, Senior writer
First published in print: Wednesday, August 5, 2009

SARATOGA SPRINGS -- An FBI-led investigation of now-defunct First Guarantee Mortgage is focusing on whether the business and its employees may have committed bank or loan origination fraud as the company roped in tens of thousands of customers who obtained mortgages or refinances of their properties.


Over several days in early June, federal agents armed with sealed search warrants raided the Broadway offices and several storage lockers around Saratoga County used by David B. Silipigno, a convicted felon, his business associates and their various companies.

The search warrant records were unsealed by U.S. Magistrate Judge David R. Homer in response to a request by the Times Union. The documents indicate the FBI's raids sought ''evidence of conspiracy, loan origination fraud and false statements, mail fraud, wire fraud, and bank fraud.''

The companies listed as being targeted in the raid include: First Guarantee Mortgage; Industry Partners Title; Principle Commercial Corporation; American Bank - Saratoga branch; Eagle National Bank Mortgage, Saratoga branch; InstantRefi.com; Consumer Direct Marketing; Business Outsource Services; Integrated Business Services; Secure Technology Management and Broadway Business Solutions, the court records show.
...................>>>>...................>>>>....................http://www.timesunion.com/AspStories/story.asp?storyID=827976

They are looking for a scapegoat......

BOTTOM LINE....we need to stop taking paxil/zoloft/adderall and the rest of the psych drugs and pay attention.....this is chaos and
anarchy....people are so numb from the drugs that they over spent/over purchased/over ate and now the devil has come home....

no one is to blame but the folks who weren't paying attention and were too busy keeping up with Jones and shopping until
no one would let them and the thief came to take all their goods away.......