Boulder City Bank Fraud
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Local bank fraud; largest in Boulder City history, takes elderly widow's $7M life savings. BDCU Chief, Eric Estes' foreclosure scheme may cost members millions.
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Elderly Widow Loses $7.1M In Fraud!
Eric Estes' (1) convinced Victim her $3.5M loan had become immediately due, (2) despite knowing first-hand Victim had 14years to repay the loan, (3) intending to induce Victim to stop making installments, and (4) taking $7M+ property claiming Victim failed to pay installments.
For 2 years beginning July 1, 2014; while anyone looking in wondered why Victim stopped making payments on a 2% interest rate loan, Victim believed she must immediately pay the Bank $3.5M to stop foreclosure. Victim believed payment of $3.5M due because Bank President, Eric Estes told her so at their July 1, 2014 meeting after repeatedly telling Victim her 20year loan signed in 2008 resumed when a 2011 interest modification expired June 10, 2014.
While Estes caused Victim to stop making payments, Carol Lelles began foreclosure on Victim's property claiming Victim stopped making modified interest rate payments. Co-conspirator Pat Butler files the Bank's affidavit swearing Lelles' phony demand notice to be true and correct, ending any chance Victim had to sell property to pay the Bank's demand.
Estes used the expiring 2011 modification to dupe Victim into believing it replaced the 20 year loan signed in 2008. During the ensuing coverup, Victim noted Bank had no collateral securing 2011 modification if it replaced the 2008 loan causing Estes to change his sworn declaration to the Court; no longer did 2011 modification replace the original loan, now Estes again claimed the 2011 agreement modified Victim's 20year loan. Finally, following fireside sale of Victim's property, trustee settles Victim's claim with Bank and Estes changes sworn declaration to Court back to modification replacing original loan.
