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Alleged Flipper Dies, Associates Sued
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March 23, 2009
A bank is suing appraisers and attorneys they say helped a now-deceased man accused of flipping at least a dozen condos.
Patrick R. Newman died in 2006 while FBI authorities were investigating his role in a multimillion-dollar mortgage fraud scheme. Authorities said the loans taken out on the properties Newman flipped totaled $14 million, funded by National City Bank.
National City is now suing Newman's associates for helping him in the fraud. They include: Attorneys Charles A. Schillinger and Christopher J. Coleman, appraisers Mary K. Gibson and Douglas E. Lightcap, and the Atlantic Hotel Condominium Association where Newman was a board member. All the defendants deny the allegations.
Read story at The Sun Sentinel
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