Complaint Review: SOBA Recovery Center - Malibu California
SOBA Recovery Center Malbiu Recovery Center, Clubsoba, Greg Hanley, David Kaiser Embezzelment, Fraud, Lied, Cheated, Inpatient Treatment a scam, Outpatient treatment detoxing without a license, Admissions director a drun with many DUIs, Read St. Louis Dispatch January 6, 2000 Malibu, California
*REBUTTAL Owner of company: not even a client
*Consumer Comment: HUH?
St. Louis Post-Dispatch
January 6, 2000
HEAD OF MORTGAGE FIRM IS CHARGED WITH MISUSING FUNDS
Author: Tim Bryant
Of The Post-Dispatch
Estimated printed pages: 1
The one-time head of Corporate Mortgage Services Inc., a defunct mortgage broker formerly based in Des Peres, was arrested Wednesday and faces charges that he misdirected more than $760,000 in loan money for his own use.
A federal indictment accuses David A. Kaiser, president of Corporate Mortgage Services, of wire fraud and interstate transportation of stolen property. The U.S. attorney's office unsealed an indictment Wednesday, just hours after FBI agents arrested Kaiser at his home in New York City.
Kaiser is scheduled to appear next Wednesday in U.S. District Court in St. Louis.
A grand jury here returned the indictment on Dec. 9. Its six counts allege that Kaiser, 36, carried out the fraud in late 1995 and early 1996.
Corporate Mortgage originated home loans and sold them to other financial institutions, including LaSalle Talman Home Mortgage of Norridge, Ill., the indictment states.
Typically, LaSalle! would wire money to Texas Commerce Bank in Houston to buy loans from Corporate Mortgage. But Kaiser altered the transfer instructions and had money sent to Corporate Mortgage's account at Truman Bank in St. Louis County, the indictment charges.
The money allegedly was used to pay corporate expenses, Kaiser's own debts and those of his troubled Internet provider, Basic Network Inc.
Basic Network shut down in 1996, after a merger with another Internet provider in St. Louis was called off.
Copyright 2000 St. Louis Post-Dispatch
Record Number: 0001060206
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