Bank of America deal going on with so...

Bank of America deal going on with some of the prominents?

Posted in the Kill Devil Hills Forum

Whatsnext

Angier, NC

#1 Oct 24, 2009
What do you think the outcome will be with this from the Outer Banks Sentinel lately on this subject? What a mess this has stirred up for this County.
Undecided

Angier, NC

#2 Oct 24, 2009
Every dog has their day and if you cry wolf too much, someone is bound to catch up with you.
Kitty local

Angier, NC

#3 Oct 25, 2009
Where is the story? What is your post all about?
Hereitis

Angier, NC

#4 Oct 26, 2009
Current story is in Outer Banks Sentinel. Here is a former post from last February:

BofA sues lawyer in alleged scheme to purchase land, Friday, February 20, 2009
COURT BRIEFS
Charlotte Business Journal - by John Downey
Related News
Bank of America Corp. is suing a Kitty Hawk lawyer for $42 million, accusing him of fraud and malpractice in an alleged scheme to buy property in Perquimans County.
The suit accuses Dan Merrell and his law firm, Dan L. Merrell & Associates, of participating in a 2006 conspiracy to bilk BofA’s Kitty Hawk branch of $13 million. Conspirators in the alleged scheme used that money to buy the land. The bank says the plan was aided by the branch’s manager, whom BofA fired in 2006 after the purchase.
The suit is filed in Mecklenburg Superior Court. It is similar to a case BofA filed in 2006 against the developers and others it says were involved in the conspiracy.
That case is still pending in U.S. Bankruptcy Court in North Carolina’s eastern district. The development company involved in the land purchase and one of its principals have filed for Chapter 11 protection from creditors.
The latest suit names only Merrell and his firm. They were not defendants in the original case.
The new suit says Merrell and his firm drew up the legal documents used in the alleged conspiracy. Those documents, BofA contends, enabled the conspirators to misrepresent financial transactions that allowed them to buy the property.
Essentially, BofA claims conspirators working with Merrell arranged for individuals to open certificate-of-deposit accounts at the bank that would allow the conspirators to consummate a $14 million loan from BofA to buy the property.
But BofA says it never offered such a loan. It contends the alleged conspirators, with Merrell’s help, converted the money to their own use to buy the property.
They bought the land in May 2006, using a $13,047,907.46 cashier’s check fraudulently obtained from BofA, the suit contends.
Merrell hasn’t yet filed a response to the suit. He did not respond to calls seeking comment.
Takefive

Angier, NC

#5 Oct 27, 2009
Interesting.
Is Rex Tillett

Ramseur, NC

#6 Oct 27, 2009
involved any longer?

All or most of Merrill's property is up for sale (mostly short) right now, including a commercial parcel he appears to own with a Jerry Tillett (who I believe is Judge Doogie, and a different Tillett than Rex).

Yes, I am gossiping...I mean, this IS Dare County, right?
Whatsup

Angier, NC

#7 Nov 1, 2009
Yeah but what do you think the outcome of all of this will be?
ThievesBGone

Pikeville, NC

#8 Jun 6, 2011
Does anyone know if this lawsuit is over?
Yuck

Clayton, NC

#9 Jun 6, 2011
Bank of America is the devil.
interested

AOL

#10 Jun 12, 2011
The case was settled several months ago and the results are confidential.
Joe Billy

Kill Devil Hills, NC

#11 Jun 13, 2011
Old news...I mean really old news. You see the OB Sentinel only publishes accusations. Did it ever print the story that the matter had been dismissed/settled? Nope. Not the editors M-O.If it don't sling mud, it don't get attention.

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