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MMA |OT2| - Thread of Athletes, Fighters, Personalities, and Sports Entertainment

A

agrajag

Banned
I can't believe everyone loves Chael so much with his corny lines. Then again, most of y'all are pro wrasslin' fans, so it makes sense.
 
Brian Fellows

Brian Fellows

Pete Carroll Owns Me
I'd rather just listen to static than listen to Sonnen's forced bullshit. He's about as quick witted and funny as a retarded 10 year old. He's like the 2 and Half Men of MMA. Caters to the lowest common denominator.
 
A

AiTM

Banned
parrotbeak said:
Pretty much. There is some entertainment value in what he says, but money laundering in real life takes kayfabe a little too far.
Click to expand...

I would like to read the particulars of the case...I have a feeling its more along the lines of he sold a house and didnt pay all of the money in taxes, and was accused for laundering it. But whatever I guess we can only assume.

And all of you who hate on Chael clearly didnt read Yacos OP.
 
P

parrotbeak

Member
AiTM said:
I would like to read the particulars of the case...I have a feeling its more along the lines of he sold a house and didnt pay all of the money in taxes, and was accused for laundering it. But whatever I guess we can only assume.

And all of you who hate on Chael clearly didnt read Yacos OP.
Click to expand...

http://activerain.com/blogsview/206...to-money-laundering-related-to-mortgage-fraud

U.S. Attorney's Office, District of Oregon

PRESS RELEASE

Chael Sonnen Pleads Guilty to Money Laundering Related to Mortgage Fraud

January 03, 2011

PORTLAND, Ore. - Chael Sonnen, 33, of West Linn, Oregon, plead guilty today to one count of money laundering in federal court before the Honorable Michael Mosman. Sentencing is scheduled on March 28, 2011 at 11:30 a.m.

Sonnen, a licensed realtor in the State of Oregon, admitted that a financial transaction he conducted was designed to conceal or disguise the ownership and control of the proceeds of wire fraud. The scheme involved Joel Rosabal and Chadwick Amsden, employees of Crown Point Enterprises, dba Lighthouse Financial Group (Lighthouse), a mortgage brokerage service based principally in Vancouver, Washington, with operations in Oregon and elsewhere. Rosabal and Amsden submitted a materially false loan application on the buyer's behalf to Decision One Mortgage, a subprime lending institution that is now defunct, for the purchase of residential property located at 11249 SE Rolling Hills Lane, Portland, Oregon. Sonnen acted as the realtor for the transaction. Sonnen submitted a false letter and Sales Agreement Addendum instructing the title company to pay loan proceeds to a plumbing company for repairs to the home. In fact, Sonnen knew and had negotiated with Rosabal that no repairs would be performed on the home and the funds designated to the plumbing company would instead be paid to the buyer as a cash incentive to purchase the home. This agreement was not disclosed to Decision One Mortgage. Once the loan was funded, the title company paid over $69,000 to the plumbing company and the plumbing company, in turn and at Sonnen's direction, paid $65,000 to the buyer of the home.

"This office will continue to aggressively prosecute real estate professionals who committed the mortgage fraud that contributed to this country's economic downturn and wreaked havoc on our community's housing market. We entrusted these professionals to honestly broker real estate transactions and instead, they defrauded lending institutions throughout the country and left financial ruin in their wake, said Dwight Holton, U. S. Attorney for the District of Oregon.

Marcus Williams, the Special Agent in Charge of IRS Criminal Investigations for the Pacific Northwest said, "West Linn residents, and other residents throughout the Portland/Vancouver area, can rest assured knowing that federal law enforcement agencies take mortgage fraud very seriously because it played a major role in almost crippling this nation's banking system just a few years ago."

Money Laundering carries a maximum sentence of up to 20 years in prison and a $500,000 fine.

There are currently two other cases related to Lighthouse pending in the United States District Court of Oregon, United States v. Joel Rosabal et al., USDC Case No. 10-CR-00195 and United States v. Chadwick Amsden, et al., USDC Case No. 10-CR-00196. In addition, three other defendants have pled guilty and have been sentenced to charges related to Lighthouse as well: United States v. Kamau Herndon, USDC Case No. 09-CR-00068, United States v. Marty Folwick, USDC Case No. 08-CR-00280, United States v. Kristen Buse, Case No. 08-CR-00283.

This investigation was conducted by the Internal Revenue Service - Criminal Investigation and the United States Postal Inspection Service. The case against Chael Sonnen is being prosecuted by Assistant U. S. Attorney Michelle Holman Kerin. The pending cases involving Lighthouse are being prosecuted by Assistant U. S. Attorneys Michelle Holman Kerin and Allan Garten.
Click to expand...
 
H

Heel

Member
"Phil looks like Arsenio Hall and John Sally had a baby." - Rashad

iDut2cHyI99Ag.gif
 
B

Balehead

Member
Rashad's really threatened by Sonnen taking over these press events since he has to grab onto anything Davis says in order to get some attention.
 
H

Heel

Member
Balehead said:
Rashad's really threatened by Sonnen taking over these press events since he has to grab onto anything Davis says in order to get some attention.
Click to expand...

Yeah, I think Rashad was trying to get into Phil's head but it definitely backfired. Way too desperate and obvious.
 
P

parrotbeak

Member
AiTM said:
So to sweeten the deal, Sonnen told them there was funds available to fix the plumbing, and to take them even if the guy didnt want to fix the plumbing?
Click to expand...
I don't know, the process of buying is so convoluted and full of middle people. Who knows what the buyer was actually told. The article says the loan company was told the loan would include repair funds. They paid this to the plumbing company, who took a cut and gave the funds to the buyer. All through Sonnen and other middle people, who I'm sure took cuts.

Sounds like the buyer essentially got a "cash incentive" that really was just added on to their loan. So it sweetened everyone's cut while adding unnecessarily to the buyer's loan. That's my take anyway.
 
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