Stone Property Management Arrests
wv party

Lynn, MA

#86 Oct 25, 2012
looks like fraudulent conveyance
Just Passing Thru

United States

#87 Oct 25, 2012
TS Owner wrote:
Didn't sell the assets. Looks like they gave the attorney mortgages against the business and Bill's residence to secure payment of the legal fees, in the amount of $265k.
wv party

Lynn, MA

#88 Oct 25, 2012
Good thing bill found the problem and alerted the police. Are you kidding me.
wv party

Lynn, MA

#89 Oct 25, 2012
And if fraud is found that will be reversed. You cant sell or transfer.
TS Owner

United States

#90 Oct 25, 2012
Just Passing Thru wrote:
<quoted text>
Didn't sell the assets. Looks like they gave the attorney mortgages against the business and Bill's residence to secure payment of the legal fees, in the amount of $265k.
Thank you for clarifying.
what a mess

Portsmouth, NH

#91 Oct 25, 2012
wv party wrote:
And if fraud is found that will be reversed. You cant sell or transfer.
will this take precedence over any potential claims brought by condo associations?
Just Passing Thru

United States

#92 Oct 25, 2012
what a mess wrote:
<quoted text>
will this take precedence over any potential claims brought by condo associations?
Secured creditors (mortgagees and lienholders) will be paid first.
local yocal

Manchester, CT

#93 Oct 25, 2012
Mortgagees and lienholders that are not insiders I agree. This is an insider transaction. It will be reversed.
Just Passing Thru

East Haven, CT

#94 Oct 25, 2012
local yocal wrote:
Mortgagees and lienholders that are not insiders I agree. This is an insider transaction. It will be reversed.
It is not an insider transaction. Nothing has been transferred. The attorney has been granted mortgages against two pieces of real estate in order to secure payment for his legal services. The recorded documents say exactly that. The mortgagors did not shield their assets through a fraudulent transfer. It appears that they encumbered their real estate assets, to which they appear to still hold legal title, through a validly executed and duly recorded security instrument.

The attorney put protections in place to reduce his risk of not getting paid for his services. It is done for the attorney's benefit and protection, not the clients'.
MS WV

United States

#95 Oct 25, 2012
Just Passing Thru wrote:
<quoted text>
Secured creditors (mortgagees and lienholders) will be paid first.
A couple of earlier posts had mentioned that the family had tax liens, as well. If there are existing tax liens, would they come before this arrangement with the attorney? Would it depend on the type of taxes? I do know that federal/ IRS are less likely to place a lien against a home (more likely to garnish wages or tax returns), but the town might place a lien on their properties if the property taxes had not been paid. If there is a lien on the home for unpaid property taxes I would think that this would have prevented the arrangement for the legal fees. I am not familiar with the order of liquidity for private companies or the assets of individual estates. Does anyone have any idea?
Another question- has anyone heard from the AGs office yet? If the Stone's have an attorney jumping right in for them, I would hope that someone from the AGs office would be on this, trying to protect any remaining assets for restitution that will eventually be owed to the victims. I am surprised at the lack of official information/ communication that has been given at this point.
Waterville Skier

Mountain View, CA

#96 Oct 25, 2012
MS WV wrote:
<quoted text>
A couple of earlier posts had mentioned that the family had tax liens, as well. If there are existing tax liens, would they come before this arrangement with the attorney? Would it depend on the type of taxes? I do know that federal/ IRS are less likely to place a lien against a home (more likely to garnish wages or tax returns), but the town might place a lien on their properties if the property taxes had not been paid. If there is a lien on the home for unpaid property taxes I would think that this would have prevented the arrangement for the legal fees. I am not familiar with the order of liquidity for private companies or the assets of individual estates. Does anyone have any idea?
Another question- has anyone heard from the AGs office yet? If the Stone's have an attorney jumping right in for them, I would hope that someone from the AGs office would be on this, trying to protect any remaining assets for restitution that will eventually be owed to the victims. I am surprised at the lack of official information/ communication that has been given at this point.
I agree...it seems to be eerily quiet - 17 condos have come forward stating money has been stolen from their bank account, and the only person(s) having access to those accounts is Courtney and her band of merry men Bill and Sean - and many (all?) of these condos have filed criminal complaints and files and computers seized...but nothing else has occurred relative to them being arrested, etc.?
WV Res

York, ME

#97 Oct 25, 2012
The FBI has taken over the case. I am looking into the reason it has jumped from a State case to a Federal. Any thoughts besides potential dollar amounts involved?? Dropped out of law school...
WV Res reply

United States

#98 Oct 25, 2012
WV Res wrote:
The FBI has taken over the case. I am looking into the reason it has jumped from a State case to a Federal. Any thoughts besides potential dollar amounts involved?? Dropped out of law school...
I am no lawyer but here is my best guess. Case now extends out side of state of NH. Someone is missing.
LV NH

Saco, ME

#99 Oct 25, 2012
WVFan have to say well put .. But its such a shame to hear or read this.But WHY?? is the only question ..
HighCountry

Palatka, FL

#100 Oct 25, 2012
Gross Tom wrote:
<quoted text>
You're nuts....
Speak Tommy!!
Another WV owner

Newburyport, MA

#101 Oct 25, 2012
The FBI has taken over the case. I am looking into the reason it has jumped from a State case to a Federal. Any thoughts besides potential dollar amounts involved?? Dropped out of law school...If you make fraudulant bank statements,put them in an envelope, place a stamp on it ,put in the US MAIL, it becomes what ???
Another WV owner

Newburyport, MA

#102 Oct 25, 2012
meant to be a response to.... WV RES
Chip Roper Roper RE

Jay, ME

#103 Oct 25, 2012
Thought everyone should know, Meredith Village Savings Bank is going to finance property in Waterville Valley with portfolio loans. They are going to look at each development on a case by case basis. They are looking for a plan to recoup funds and agreements with management companies to move forward. I checked their rates today and a 30 year fixed portfolio mortgage is a little over 4% which is pretty good. They are 60-90 days out from time of application to closing because of current refinance boom. Way to step up MVSB!(This is not an advertisement for either agency or bank, just wanted to share)
Fred

Meriden, CT

#104 Oct 25, 2012
Does anyone know whether individual condo owner's home owner's insurance covers losses from theft like this? If so we could all submit claims for the our payments that are missing.
eliot ness

Haverhill, MA

#105 Oct 25, 2012
Wire Fraud:: Thus FBI
Removing funds via the electronic medium.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Waterville Valley Discussions

Title Updated Last By Comments
Murder in Campton (Feb '06) Mar 23 camp david 102
Ice Rink debacle Mar 4 pto 5
A plea for information - Do you know what happ... (Sep '16) Jan '17 Bvc 6
News Police Officer Bruce McKay Laid To Rest (Jun '07) Dec '16 WVF 64
News Support Sununu for governor (Oct '15) Dec '16 jls 40
NEW coffee shop Dec '16 Dogman 3
hockey program terminated???? Nov '16 Gordie Howe 2

Waterville Valley Jobs

More from around the web

Personal Finance

Waterville Valley Mortgages