SA's version of Bernie Madoff (San Antonio, Horseshoe Bay: foreclosure, consignment, house)

[wCat]

Monte Vista manor in need of lord or lady (http://www.mysanantonio.com/news/local_news/Monte_Vista_manor_in_need_of_lord_or_lady.html - broken link)

I'm curious to know if this is the same Andrew Maxwell Parker that owns the huge estate on Wildwood in Olmos Park. Sure sounds very similar....unless it's dad....but I my research doesn't point to that. That's about another 3 mil in property value they could collect toward his debt....however it is his homestead, so can they not touch it? I'm not sure what the law is if you're convicted of such a crime.....sounds like liquidation city to me. What does a bachelor need with a 13000sq ft house when he owes 10 million for restitution?

Interesting story in our midst....a no one has mentioned it. He was convicted in September??

[smitty12]

Originally Posted by wCat

Monte Vista manor in need of lord or lady (http://www.mysanantonio.com/news/local_news/Monte_Vista_manor_in_need_of_lord_or_lady.html - broken link)

I'm curious to know if this is the same Andrew Maxwell Parker that owns the huge estate on Wildwood in Olmos Park. Sure sounds very similar....unless it's dad....but I my research doesn't point to that. That's about another 3 mil in property value they could collect toward his debt....however it is his homestead, so can they not touch it? I'm not sure what the law is if you're convicted of such a crime.....sounds like liquidation city to me. What does a bachelor need with a 13000sq ft house when he owes 10 million for restitution?

Interesting story in our midst....a no one has mentioned it. He was convicted in September??

You can get a judgment to attach a lien against a homestead for debts other than a mortgage. It is just that foreclosure can not happen. The lien will get you your money when the owner chooses to sell the property.

[GoTexan]

wow, I would fwd link to national news, perhaps there is more to this story? Interesting, no doubt.

[wCat]

Originally Posted by smitty12

You can get a judgment to attach a lien against a homestead for debts other than a mortgage. It is just that foreclosure can not happen. The lien will get you your money when the owner chooses to sell the property.

I thought it might be something like that. It's a huge estate...Bentley parked in front and all.....at least last year. Can't imagine how he could manage upkeep on it while serving 10 years in prison. Maybe some of those assets are offshore or in a Swiss bank.

[Eleanor Rigby]

He does indeed own the house on Wildwood. Or, at least he did - the banks have foreclosed on all of his properties, and the contents are going to be sold to offset what he owes in restitution.

wow, I would fwd link to national news, perhaps there is more to this story? Interesting, no doubt.

It did get quite a lot of play a few months ago - first when he was indicted, then when he was convicted. It was a front page story in the E-N.

[wCat]

Originally Posted by Eleanor Rigby

He does indeed own the house on Wildwood. Or, at least he did - the banks have foreclosed on all of his properties, and the contents are going to be sold to offset what he owes in restitution.

It did get quite a lot of play a few months ago - first when he was indicted, then when he was convicted. It was a front page story in the E-N.

Eleanor....I don't take the paper anymore, and I scan MySA.com randomly, so I missed this first round. BCAD shows his W Craig Place has changed hands, but the Wildwood property is still in his name. I know there's a bit of lag time with BCAD....but I wonder if there is more red tape with that being his homestead.

It's an unbelievably gorgeous estate.....two huge Mastiff Great Danes used to roam the property......but it always seems deserted.....dark no lights...not activity cept the Bentley waiting outside.

[mpd33]

Here's the first round for those of us who missed it (myself included)
S.A. exporter indicted for fraud (http://www.mysanantonio.com/news/MYSA050108_montevista_EN_ba4c635e_html4269.html - broken link)

[mpd33]

And, maybe I am doing something wrong but it looks like the house sold 9/19/2008 for $880,000: Home Valuation for 238 W Craig Pl, San Antonio, TX 78212

[Eleanor Rigby]

Eleanor....I don't take the paper anymore, and I scan MySA.com randomly, so I missed this first round. BCAD shows his W Craig Place has changed hands, but the Wildwood property is still in his name. I know there's a bit of lag time with BCAD....but I wonder if there is more red tape with that being his homestead.

Ah, I see - it was big, big news in Olmos Park, obviously, so I was constantly having my parents and other neighbors forwarding me the articles.

The Feds have totally taken over the Wildwood house. They came last summer with a flatbed truck and hauled away the Bentley, the Italian race car, and the SUVs. It's on the market, but due to its infamy and to its price, it's not been publicly listed and to get in to view it, you have to have some real bona fides behind you, or be buddies with the broker. All of this info comes from my parents, who live on Wildwood and are keyed in to the OP gossip circles.

Random fun fact: all of the windows were replaced with bulletproof glass. I guess that's what happens when your "business partners" are buddies with the Mexican Mafia.

Another random fun fact: Mr. Parker purchased that house from Douglas Jaffe. The Jaffes developed Central Park Mall, Horseshoe Bay and Applehead Island, and many other residential and commercial developments in San Antonio.

And, maybe I am doing something wrong but it looks like the house sold 9/19/2008 for $880,000

That's probably when the foreclosure went through. The bank owns that house now, according to the article.

[wCat]

Originally Posted by Eleanor Rigby

Ah, I see - it was big, big news in Olmos Park, obviously, so I was constantly having my parents and other neighbors forwarding me the articles.

The Feds have totally taken over the Wildwood house. They came last summer with a flatbed truck and hauled away the Bentley, the Italian race car, and the SUVs. It's on the market, but due to its infamy and to its price, it's not been publicly listed and to get in to view it, you have to have some real bona fides behind you, or be buddies with the broker. All of this info comes from my parents, who live on Wildwood and are keyed in to the OP gossip circles.

Random fun fact: all of the windows were replaced with bulletproof glass. I guess that's what happens when your "business partners" are buddies with the Mexican Mafia.

Another random fun fact: Mr. Parker purchased that house from Douglas Jaffe. The Jaffes developed Central Park Mall, Horseshoe Bay and Applehead Island, and many other residential and commercial developments in San Antonio.



That's probably when the foreclosure went through. The bank owns that house now, according to the article.

Eleanor....I had the opportunity to check the deed records and he still owns the Wildwood property. At least for now....it has a judgement and several liens against it.....one being Samuels Glass, who apparently didn't get paid for all that bulletproof glass! The other is the IRS. He really only owns it in name for now.....it's of no value to him whether he sells it or keeps it!

I was surprised that they valued his personal belonging at a consignment location at only $76K. It will be interesting how they liquidate all of that in the end.