The dipstick is famous LOL


Grand Rapids Press Names

West Michigan's top newsmaker for 2008


The winner of the house might find a boat via the auction block, too. Michael Vorce made headlines for the second year in a row for alleged fraudulent titles on boats. In 2007, Vorce was arrested for securing millions of dollars in loans on high-end yachts that didn't exist or he did not own. The feds were still investigating that case when he was arrested again this past August for another boat loan that didn't float.

Atta Boy Vorce! You WERE da'man until you got caught :p

[YOUTUBE]http://www.youtube.com/watch?v=BhZpRpoYu2E[/YOUTUBE]

"I know his heart. I know he wouldn't intentionally hurt me or his family again," she said.



This is the problem and how he got away with all this, within this sentence is one simple word that says it all.

AGAIN!

So shes so stupid that this guy has done something horrible to them before, but she still doesnt beleive he will do it AGAIN!


I see this crap all the time.

This guy will have his assets siezed only 1/3 of it will be recovered.The other 2/3 will go to the right guys to make sure its not a long stay in a bad place and he will be out in no time.
Some idiot will say Oh well he was so smart, maybe he'll use it for good now that he learned his lesson and give him another nice cushy job. All while the good honest people of this country are out breaking thier balls to make a living.

Pathetic

heres a good example of what I am talking about.
http://www.indystar.com/apps/pbcs.dl...=2008811110325

Guy steals 600K and gets 16 months.
In the mean time he sold race parts to tons of guys on TTF yelow bullet pontiaczone etc. Most guys on there love this Jerk cause he saved them a few bucks. They only think of themselves.
When he gets out no doubt he'll start a new company selling race parts and do very well since EVERYONE knows him.

Just watch and see. In the mean time there are alot of honest hard working guys trying to make it in the race parts business who will get no where.

Garranteed.

This counrty is all F'd up!

WOOO HOOO!!!!!!!!!!!!!!!

Local man accused of defrauding banks in fake yacht scam returns to face federal charges

Posted by tgmiter January 21, 2009 21:06PM

GRAND RAPIDS -- A man suspected of swindling $31.4 million from banks in fake yacht deals is back in West Michigan five months after he and an associate were arrested in Chicago.

Michael Vorce
Michael Vorce, 32, was transported by U.S. Marshals from Milwaukee to Ypsilanti and then into a Grand Rapids federal courtroom today.

Vorce, who remains in custody, is charged with 15 counts of bank and wire fraud, identity theft and money laundering for cash he allegedly illegally obtained between 2002 and 2007.

While under investigation in that case, he and a friend, James Jett, 30, were caught trying to steal the identity of a Milwaukee lawyer and obtain a $391,450 loan in his name, authorities said. Jett and Vorce were detained in Milwaukee since that arrest.

Jett's case remains pending in federal court in Wisconsin, and federal prosecutors there dismissed charges against Vorce so he could face the local allegations.

Authorities in Wisconsin said the pair scammed about $3.5 million from banks and then attempted to launder it by buying and selling gold.

Vorce was described as a flight risk during today's seven-minute court appearance and he did not contest the detention.

$9 mil is better than nothing.
 

The government has recovered $9 million of the $27 million former boat broker Michael Vorce allegedly took by scamming loans from banks, Assistant U.S. Attorney Tim VerHey said today at Vorce's arraignment hearing.

The government is seeking the remaining $16 million.

Vorce, who allegedly obtained loans for boats that did not exist, lived a lavish lifestyle that included expensive vehicles, big-screen televisions and high-end furniture and appliances.
RELATED STORY

Michael Vorce remains jailed after pleading not guilty to bank fraud and other charges

The alleged victims, and initial losses, include:

• Macatawa Bank Corp.: $9.2 million
• Irwin Union Bank and Trust Co. (Irwin Financial Corp.): $8.6 million
• Lake Michigan Credit Union: $4.7 million
• LaSalle Bank (now Bank of America): $2.2 million
• Bank of America: $1.975 million
• National City Bank: $370,000
• Wachovia Bank: $250,000
• Founders Bank & Trust: $292,000
• Independent Bank: $200,135
• Michigan State University Federal Credit Union: $100,000

Vorce faces 10 charges of bank fraud, three charges of money laundering, aggravated identity theft, and wire fraud. Each bank fraud count carries the longest maximum penalty of up to 30 years in prison and $1 million in fines.

Your like a regular Magnum PI... Good work!!

Vorce to enter plea in
court Thursday
Details of plea deal available
Wednesday
Updated: Wednesday, 17 Jun 2009, 5:11 PM EDT
Published : Wednesday, 17 Jun 2009, 5:11 PM EDT

GRAND RAPIDS, Mich. (WOOD) - Details from the plea deal Michael Vorce signed with the feds became available Wednesday. He will appear in court Thursday to enter the plea.

Vorce, 31, of Grand Rapids, signed the agreement June 1 that allows the bank fraud case against him in Wisconsin to be transferred to West Michigan.

He and James Jett were accused of bank fraud in 2008 for a scheme to use false information to obtain bank loans to purchase yachts that didn't exist, and then used the proceeds to buy and sell gold to cover their involvement in the bank fraud.

The 10-page agreement allows Vorce to plead guilty to two counts of bank fraud, one of those cases from Wisconsin. He also agrees to plead guilty to money laundering and to, "...failing to file an income tax return after accruing a gross income of $11,311,491.65 for the year 2006."

Originally, he was charged with 10 counts of bank fraud, three counts of money laundering, aggravated identity theft, wire fraud and failing to file an income tax return.

He used fake names and titles of phantom boats to acquire millions of dollars in fraudulent loans from area banks.

The maximum sentence just for the bank fraud is 30 years in federal prison and a $1 million fine.

Vorce faces two of those sentences. In addition, he faces up to 10 years on the money laundering charge and one year on the failure to file an income tax return. In total, he could serve up to 71 years in federal prison.

As part of the plea agreement, all of the other charges against Vorce will be dropped and he may be eligible for a reduction in his sentence if the court agrees to it at the time of sentencing. All of this is up to the federal judge hearing the case.

His parents must be proud. I hope he gets the book tossed at him.