Central Florida developer caught.....
A central Florida developer is out on bond
because the FDLE says his company defrauded
investors and would be home owners of over
$24 million dollars in deposits.
- David N. Weiker said that many things
contributed to his companies bankruptcy.
(I would LOVE to hear some of his "reasons"). - Money that was supposed to be in escrow
was "used" to pay for contractors that never
finished and in some cases NEVER even started
the process of constructing homes to be built. - Over 580 people lost money on these deals
ranging from locations as far away as Great
Britan, Norway, Scotland and Belgium. In the
United States -- Massachusetts and Florida
residents were stung among others. - FDLE officials said they have not found the
missing money (It SHOULD be in escrow
accounts, properly accounted for, shouldn't it?). - David Weikers past was found to be the
evidence that will likely put him behind bars
for a LONG long time. Eight or nine homes
were to be built by another company Mr. Weiker
owned and operated back in 2001. Home buyers
had to finish building the homes they payed
Mr. Weikers company to build, causing the would
be owners back then to lose many thousands of
dollars in the process. - Escrow money was disbursed to Weikers adult children
to pay for their rent, money was used to purchase
a spa for the Weikers home, and to pay for
medicines and medical treatments. As far as I
know, according to Florida real estate laws and
practices, NONE of that money is to be used for
ANYTHING other than the building of, or financing
(down payments for mortgages) of the homes that
were to be built.
I for one am GLAD the Florida Dept. of Law Enforcement is on the job....
That is part of the duty of that Dept. of our government.