Tuesday, May 27, 2008
Defendants Plead Guilty in Land Investment Scheme
Rodney Fielding, 50, and Lisa Fielding, 46, Tempe, Arizone, pleaded guilty in a land investment fraud scheme that cost investors more than $1.87 million. Rodney Fielding pleaded guilty to two counts of fraud, and Lisa Fielding pleaded guilty to two counts of illegal control of an enterprise.
Between 2005 and 2007, Rodney Fielding managed a limited partnership that planned to buy 56 acres of land in Casa Grande, Arizona with the intention of selling it promptly for a profit. The Fieldings promised investors that the partnership would own the land, and the land would be collateral for their investment.
The defendants purchased the Casa Grande land but did not transfer title to the victims’ limited partnership as promised. Rather, the Fieldings held the land in the name of a limited partnership owned Lisa Fielding. With no notice to or consent from the investors, they mortgaged the Casa Grande property and used the resulting loan proceeds to buy 160 acres in Eloy, Arizona.
The Fieldings also obtained about $720,000 from people who invested in the Eloy, Arizona acreage and promised the second group of investors that their limited partnership would own the land. Instead, the Fieldings bought the land in the name of Lisa Fielding‘s limited partnership and borrowed against it for their own purposes, without notice to or consent from the investors.
About two years later, the investors learned that they did not own the land in which they had invested and had no recorded interest in that land. They also learned the Fieldings mortgaged the land for more than its current market value, and because of the amounts owed on the land, even if it were sold, all proceeds would go to pay off the mortgages.
Rodney Fielding faces up to 12.5 years in prison, and Lisa Fielding faces up to 12 months in prison. The State is also seeking restitution for the victims in this case. They will be sentenced June 20, 2008 by Maricopa County Superior Court Judge Maria Del Mar Verdin.
mortgage fraud
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
