Medoff

Has anyone seen a list of the investors in the latest Ponzi money scam? I read where William Parente, the New York Lawyer that killed himself and his family at a Towson hotel last week, did it to avoid being charged with scamming investors for 20 million dollars. I am hoping Loren Williams or his Company Annapolis Land & Property LTD. of Annapolis Maryland is one of the newest losers. I heard he lost 3 million in the Bernard Madoff Ponzi scheme (see article below), and figure he may have had some money with Parente.

Williams seems to have money in all types of things. I know he has 50 thousand dollars of money he made when he sold a house he bought from me. He didn't even own it for 2 years when he flipped it. This was a house I was forced to sell to avoid foreclosure. How does he figure he is entitled to make that kind of money for doing nothing but being at the right place at the right time? If I had known my home was going to be worth that much more money in 20 months I would never have sold it. I hate him and hope he loses all of his money.

They say what goes around, comes around, and nowhere is that more accurate than in the revelation of the latest loser in Bernard Madoff’s alleged Ponzi scheme. Nestled among the famous Hollywood stars and big name billionaires on Bernard Madoff’s recently released list clients was one relatively unknown real estate investor named Loren J. Williams. Williams, a mere multi-millionaire, is the infamous owner of Annapolis Land & Property, of Anne Arundel County, Maryland. Going at times by Loren John Williams, John Loren Williams, and Loren J. Williams, he is also known as an aggressive player in the real estate market of Annapolis, MD. Williams is rumored to have had over $2.9 million invested with Madoff though the myriad of multiple real estate Trusts he owned and controlled.

.Exact figures are impossible to determine due to Williams refusal to comment on which trusts he owns and controls, but one thing is certain, he stands to lose all he has invested in the fraud. Bernard Madoff’s 50 Billion dollar Ponzi scam has impacted people from wealthy Hollywood personalities like Steven Speilburg and Zha Zha Gabor, to simple Florida retirees, many who had their entire life savings invested with Madoff. Officials estimate that even if Williams loses the entire $2.9 Million, he will still be far from poor. Williams made the lion’s share of his wealth with his ultra aggressive real estate programs that critics claim capitalized on the unsophisticated and often uneducated owners in foreclosure.

Many of these individuals who were forced to sell their homes to Williams at significant discounts when in foreclosure expressed their pleasure in hearing Williams was losing some of what they feel was ill gained money. I’m glad to see Loren John Williams or John Loren Williams, -whatever name he uses- lose some of his money in a scam. It shows there is always someone smarter than those who know it all, stated one unhappy individual who sold his home to Williams and rented it back rather than lose it to the bank. The seller, who wishes to remain anonymous, claims he had over $75,000 in equity when he found himself behind in payments and in foreclosure. Faced with few options, and no other buyers, he sold his house to one of the many Trusts Williams owns, for little more than what was owed. Neither Loren J. Williams nor Bernard Madoff would comment on the loss, and we may never know how much either lost or stole.