There could be something here folks; the word (well, 2 words) I heard from my brother in law is "Ponzi scheme"
We know a little bit about an Aquatera related subpoena on the appraiser, Fruitcher Lowery. I found this forum by searching some of the key words here; basically using the developer's name. I don't know the other names on the subpoena list as read to me but it looked like several law firms, banks and brokers like Johnny Earls and Connie Carlsberg
I searched the developper on the Federal lawsuit database, and turned up a Florida case failing to pay the marketing people on Aquatera and Seagrove; and a mortgage company default case in NY- both open
The appraiser in Florida definately got a US Attorney grand jury subpoena on this deal; apparently the case deals with the land purchase and resale as designed to get 200% financing. Apparently this developer buys lots of projects but never really develops anything? It ties to many other deals.
Apparently the developer owns the real estate development company, the contractor who builds, the brokers who sell the product, the mortgage company that makes the loansto buy the insurance company that does the homeowner's insurance, the title insurance compnay, the law firm that closes, the management companythat rents it for you-maybe a bit too stem to stern to pass muster
I agree those posts from the arab don't read very clearly but maybe he or she is on a restricted computer like in a school or institution?
I just think these forums are great for tossing around ideas- time will tell what's what