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Corrupt Criminals, Donald Trump and The Eleventh Circuit Gather in Florida…Here’s What’s Up

As we suggested in an earlier article when the 11th Circuit got involved in this massive ponzi scheme case in Florida, it reeks of impropriety and we’ve been proven correct at LIT again.

LIT COMMENTARY

This article should be read in conjunction with our earlier article.

Jan 14, 2021 –  President Donald Trump has commuted the 40-year sentence of Fred Davis “Dave” Clark Jr., who was convicted in 2015 of helping run a $300 million Ponzi scheme through the Florida Keys-based company Cay Clubs Resort and Marinas.

Trump Supporter Shocked Over Clemency of ‘Crook’ Who Stole His Life Savings in Ponzi Scheme

Originally Published: Jan 19, 2021 | Republished by LIT: Jan 20, 2021

71-year-old supporter of President Donald Trump was reportedly shocked when Trump recently commuted the 40-year sentence of a man who stole his life savings in a Ponzi scheme.

Kimball Pugmire, who supported the outgoing president and voted for him in 2016 and 2020, told the Tampa Bay Times that he was forced to question Trump’s honesty after learning that the president had granted clemency Wednesday to “lifetime crook” Fred Davis Clark Jr., who was sentenced to decades behind bars in 2016 after defrauding nearly 1,400 investors out of a combined $300 million.

“I had been trying to forget all this, but it makes you wonder, even being a Trump supporter, about his honesty,” Pugmire told the paper.

Clark was CEO of Cay Clubs Resorts and Marina, which offered investors the promise of steady returns by purportedly transforming old properties into luxury resorts in Florida, the Caribbean and Las Vegas. In reality, the projects were never completed and the money taken in from new investors was being used to pay off outstanding debts to old investors and to fund Clark’s lavish lifestyle.

Pugmire bought condo units in Clearwater, Florida and in Las Vegas, believing he would soon receive promised “leaseback” payments and then regular rental income. When the money never came, Pugmire’s home was forced into foreclosure and his retirement was indefinitely postponed. He believed that Clark’s lengthy prison sentence was well deserved.

“I thought well he will probably die in prison and he deserved it,” said Pugmire. “I was thinking that’s justice because now he can sit there the rest of his life contemplating what he’s done to other people.”

Instead, Trump commuted Clark’s remaining sentence on January 13. It is not clear why Clark was issued clemency. He will reportedly live in Orlando on supervised release for five years and is still legally obligated to pay $179 million in restitution despite the commutation.

“I’m more disappointed for the investor victims and the dedicated public servants across the Securities and Exchange Commission and Department of Justice who put their hearts and souls into this prosecution and had the rug pulled out from under them,” Bruce Barnes, an attorney for owners of units at one of the Florida properties, told the paper.

Florida Lawyer Charles Phoenix Receives a Two Year Suspended Sentence for His Fraudulent and Unethical Behavior. He Should Have Been Disbarred.

Phoenix was aware that [Cay Clubs’s] practices constituted a fraud on the lending institutions involved and these practices could be fairly described as mortgage fraud.

Ponzi Scheme Owner Gets 40 Years Jail. Lawyer Involved in $300M Ponzi Scheme Attempting to Stop 90 Day Florida Bar Suspension.

LIT: There’s something not right about this whole saga in Florida and when it involves real estate of this magnitude, you know somethings up!

Big Law Firms DLA Piper and Fox Rothschild Accused of Turning A Blind Eye for Easy Cash

The receiver for investment funds accused of operating as a Ponzi scheme has sued DLA Piper and Fox Rothschild for allegedly facilitating the wrongdoing.

Corrupt Criminals, Donald Trump and The Eleventh Circuit Gather in Florida…Here’s What’s Up
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Laws In Texas is a blog about the Financial Crisis and how the banks and government are colluding against the citizens and homeowners of the State of Texas and relying on a system of #FakeDocs and post-crisis legal precedents, specially created by the Court of Appeals for the Fifth Circuit to foreclose on homeowners around this great State. We are not lawyers. We do not offer legal advice. We are citizens of the State of Texas who have spent a decade in the court system in Texas and have been party to during this period to the good, the bad and the very ugly.

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