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Michael Vorce...he is at it again!!!!!!!!

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Old 11-06-2008, 02:00 PM
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From today's news:

Vorce may forfeit confiscated boats, trailers
Tuesday, November 04, 2008 The Grand Rapids PressGrand Rapids Press


GRAND RAPIDS -- Federal prosecutors are seeking forfeiture of a 42-foot speedboat, a 54-foot yacht and a boat trailer -- with a cumulative value of about $1 million -- seized from troubled local boat broker Michael Vorce, U.S. District Court records show.

The boats were purchased by Vorce in an "ongoing scheme" of identity theft used to obtain the vessels and defraud banks, prosecutors wrote in records filed Monday.

Authorities seized the yachts from Vorce on Sept. 3 and Sept. 4, days after the 31-year-old and an associate, James Jett, 29, were taken into federal custody in Chicago.

The pair are charged with stealing the identity of a Milwaukee lawyer while trying to secure a $391,450 loan to buy a 48-foot Sea Ray, authorities said. Each man remains in custody without bond while awaiting trial in that case.

Assistant U.S. Attorney Matthew Borgula wrote the 42-foot Fountain, the 54-foot Cruiser and a Myco trailer are eligible for forfeiture because "they represent the proceeds or traceable proceeds of fraudulent activities on the part of Michael Vorce and his business partners and entities."

Vorce used the loans to buy boats, which then were used as collateral to buy other boats, records show.

Some of the high-end yachts did not exist or did not belong to Vorce, a Press investigation found last year.

Vorce has yet to be charged criminally in Michigan despite an FBI raid on his offices in Bridgewater Place.
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Old 11-06-2008, 03:27 PM
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This just in


West Michigan boat broker Michael Vorce indicted on bank fraud by federal grand jury
by Chris Knape | The Grand Rapids Press
Thursday November 06, 2008, 2:27 PM
Michael Vorce
GRAND RAPIDS -- West Michigan boat broker Michael Vorce was indicted by a federal grand jury this afternoon on 15 counts ranging from bank fraud to using a false identity to open bank accounts.
The 24-page indictment alleges Vorce fraudulently obtained more than $27 million from 10 lenders, most in the Grand Rapids area.
The indictment marks the first time Vorce, 32, has faced criminal charges related to loans taken out at the banks using bogus collateral and fraudulent title work.
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Read the indictment against Michael Vorce
The alleged fraud touched many West Michigan financial institutions.
The largest loans were $9.2 million by Holland-based Macatawa Bank, $8.6 million by the Grandville branch of Irwin Union Financial and $4.7 million by Lake Michigan Credit Union, based in Grand Rapids.
Vorce has been locked in a Milwaukee jail since late August when he and friend James Jett, a Byron Township resident, were arrested near Chicago. They are charged with attempting to defraud a bank and stealing the identity of a Milwaukee-area attorney as part of another apparent boat loan scheme.
A Press investigation in 2007 found a trail of paperwork showing how Vorce used bogus paperwork to secure titles for boats he didn't own or that did not exist. He used those titles as collateral to borrow millions of dollars from banks.
Vorce apologized to the banks which had seized and auctioned his assets. Many sued him in civil court, but he was not charged criminally in West Michigan until today. He was living in a gated mansion in Alpine Township until his Chicago arrest.
The arrest occurred despite Vorce's apparent cooperation with law enforcement in the West Michigan case. Court records in Milwaukee indicate the case that led to his arrest was part of a larger, multi-state fraud case.
That arrest occurred despite Vorce knowing he was being watched by law enforcement officers in West Michigan as their investigation into his loan activity here dragged on.
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Old 11-06-2008, 03:35 PM
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Click this to read indictment information


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Old 11-06-2008, 10:06 PM
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Finally charged: $27 million in fraud, 10 counts of bank fraud and facing 30 years on original charges.
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Old 11-08-2008, 07:05 PM
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Quote:
Originally Posted by Rookie View Post
Finally charged: $27 million in fraud, 10 counts of bank fraud and facing 30 years on original charges.
Yipeeee!!!

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Old 12-18-2008, 07:20 AM
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Latest Update


Michael Vorce will return to Michigan to face fraud charges
by Nate Reens | The Grand Rapids Press
Wednesday December 17, 2008, 10:45 PM

Michael Vorce

James JettMILWAUKEE — A fan of yachts, Michael Vorce and his associate, James Jett, apparently also saw value in pure gold.

Federal prosecutors in Wisconsin allege the West Michigan friends bought and sold the metal to launder about $3.5 million in cash they fraudulently obtained while applying for loans tied to purported boat purchases.

In a criminal information filed Wednesday against Jett, authorities accuse the 30-year-old Byron Township man of participating in a scheme with Vorce to steal the identity of people "likely to qualify for large loans and to engage in large financial transactions."

Authorities filed the information, which typically leads to a guilty plea without an indictment, against Jett on the same day they dismissed pending criminal allegations against Vorce, 32.

Vorce, upon a judge's approval, will return to Michigan to face charges here that allege he swindled up to $27 million from 15 banks between 2002 and 2007. The Milwaukee-based accusations against Vorce can be refiled at a later date, prosecutors said.




Court documents offer a glimpse of the web of fraud allegedly spun by Vorce, even as the Alpine Township man was under investigation locally and his possessions were auctioned off to repay millions lost by banks in bad loans to him.

Prosecutors say Jett, who will remain jailed in Wisconsin, and Vorce used an online service to obtain credit files and then open bank accounts in victims' names. The pair also purchased cell phones and set up e-mail addresses in those names so they could communicate with lenders, records show.

Records allege the suspects then applied for nearly $5 million in loans for yacht purchases using the various victims as both the buyer and the seller.

One of the alleged bad loans was for $391,450 in the name of Michael Berzowski, a Milwaukee lawyer. Jett and Vorce were arrested in August outside a Chicago bank where they allegedly arranged to pick up loan documents from Bank of the West.

"(They) typically used the loan proceeds to buy gold. They typically sold the gold immediately upon obtaining it," court records show. "The purpose of the gold transactions was to conceal (Vorce) and Jett's ownership and control of the loan proceeds."

Among the banks the men allegedly duped was Wachovia Bank, which agreed to loan the suspects $885,000 about the same time the institution was obtaining a judgment against Vorce for an unpaid loan for $294,000.

Authorities in both Wisconsin and Michigan have described the cases as incredibly complex.

It took local prosecutors nearly two years to unravel 80 loans Vorce allegedly illegally obtained. He faces 10 counts of financial institution fraud, three charges of money laundering, one count of wire fraud and one count of aggravated identity theft here.

Jett has not been implicated in the local allegations, but Vorce was trying to sell Jett his Alpine Township house when Bank of America foreclosed on the residence.
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Old 12-18-2008, 10:03 AM
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On the first day of Christmas, my prison lover gave to me
A stolen Drivers License Making Machine!

On the second day of Christmas, my prison lover gave to me
Two fake boat titles and
A stolen Drivers License Making Machine!

On the third day of Christmas, my prison lover gave to me
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!

On the fourth day of Christmas, my prison lover gave to me
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!

On the fifth day of Christmas, my prison lover gave to me
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!

On the sixth day of Christmas, my prison lover gave to me
Six bubbas in the next cell playing,
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!

On the seventh day of Christmas, my prison lover gave to me
Seven lawyers lying
Six bubbas in the next cell playing,
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!

On the eighth day of Christmas, my prison lover gave to me
Eight prison guards beating
Seven lawyers lying
Six bubbas in the next cell playing,
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!


On the ninth day of Christmas, my prison lover gave to me
Nine transvestite prisoners dancing
Eight prison guards beating
Seven lawyers lying
Six bubbas in the next cell playing,
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!


On the tenth day of Christmas, my prison lover gave to me
Ten prisoners with shanks they are making
Nine transvestite prisoners dancing
Eight prison guards beating
Seven lawyers lying
Six bubbas in the next cell playing,
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!

On the eleventh day of Christmas, my prison lover gave to me
Eleven cell mates smoking crack pipes
Ten prisoners with shanks they are making
Nine transvestite prisoners dancing
Eight prison guards beating
Seven lawyers lying
Six bubbas in the next cell playing
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!



On the twelfth day of Christmas, my prison lover gave to me
Twelve prisoners giving hummers
Eleven cell mates smoking crack pipes
Ten prisoners with shanks they are making
Nine transvestite prisoners dancing
Eight prison guards beating
Seven lawyers lying
Six bubbas in the next cell playing
Five stolen rings,
Four hot credit cards
Three forged tax returns
Two fake boat titles and
A stolen Drivers License Making Machine!
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Old 12-18-2008, 10:41 AM
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now that is funny
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Old 12-28-2008, 09:37 AM
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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.
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Old 12-28-2008, 10:02 AM
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Atta Boy Vorce! You WERE da'man until you got caught
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