Fred Layman comes out on top againas US Southern District Court Judge, Randy Hall, found in his favor against Courtney Settle and Southwest Golf, Inc.
Layman’s complaint states that in 2009 Courtney Settle (a Dallas, Texas resident) fraudulently represented himself as a buyer for multiple properties owned by Layman’s various entities. The complaint stated that Courtney Settle contracted to purchase income producing property. Mr. Settle was to pay the mortgage bank and Layman was carrying his equity for five years.The complaint further states that Mr. Settle wrongfully negotiated modifications that brought one of the properties into foreclosure. These actions caused a series of events that Layman was unaware of and unable to cure in time. Further in the complaint it states that Layman has since paid off the debt but not after damaging his personal and business line of credit, reputation, and accumulating tens of thousands in attorney and late fees.
“I am happy Judge Hall found in our favor; however, this is only one case in a series of cases we have filed and won. Being a part of many class action suits against the big banks and people who take advantage of borrowers with their predatory lending practices has brought more attention to the need to prosecute at the executive level”. States Fred Layman. “I am grateful the Justice Department is finally recognizing the “Little People” who actually got financially ruined and I hope they will seek more justice against those who profited”. Layman continued, “I was actually one of the lucky ones. I could afford an attorney that did his homework.”
When the Justice Department decided not to prosecute Angelo Mozilo, the former chief of CountryWide, Layman began a quest to educate himself and others on the real reason the real estate market crashed,which led to an economic recession beginning in 2008. Since this time an Oscar Nominated Movie called “The Big Short”, and countless articles and lawsuits have brought the reality of the bank fraud to the public. “Only Liar Lenders Made Liar Loans”, by Bill Black Benzinga of Business Insider, received to wide acclaim, for itscommon-sense tribute to a regular person who took out loans during this time and got prosecuted.
In accordance with the court order the Judgement was granted in favor of North Augusta Management Group, LLC (owned and operated by Fred Layman) and against Defendant COURTNEY SETTLE in the amount of $288,152.50 and against Defendant SOUTHWEST GOLF GROUP, INC, in the amount of $629,019.00.