American Escrow: Illinois attorney general probing missing money

Indy Girl wrote:

<quoted text>How about a stampede of wild angry elephants? But wait, a stampede of wild angry customers could do just as much damage!I am calling Chicago Monday to inquire about my compensation I filed with the IDFPR.

I tried the IDFPR web site as written in one of the June news Items....doesn't work. Anyone know the proper web address or is this another runaround

WHY WHY WHY IS THE F.B.I NOT INVOLVED.
In a million years I will never understand how we are getting ripped off and NOTHING I MEAN NOTHING is being done..

If this wasin a foreign country they would of been hung or shot or dragged by wild horses, even cained..

WHY WHY WHY FBI ARE YOU NOT STEPPING IN?????????

Larry Mc wrote:

<quoted text>
I tried the IDFPR web site as written in one of the June news Items....doesn't work. Anyone know the proper web address or is this another runaround

I hope that you formally filed with the AG in Michigan via certified mail.The people in Illinois will be reimbursed first from what I understand and IF there is any money left from the TOMA fund they have in Illinois they will start reimbursing others .Personally, I don't think they will reimburse any out of state victims.You can always mail them snail mail--certified---did you not see the web site they put up and the forms to fill out?Oh , and um," Accredited Mortgage Company" filed Chapter 11 from what I understand and in my opinion they were crooks also!

My family have known the Luries for several years, they were crooks tnen and now there true colors come thru, I cant beleive all I am reading about them, Derrick Lurie was a con man when he was in H,S.
The mother has a store in Highland PK called ENAZ and the word is she is opening a second store in Northbrook Ill.
So thats where all there money is going, this really sucks.

It is disgusting that they continue to go on vacations and open businesses. I had to cancel my family's vacation to use the vacation fund to pay my taxes, because the Lurie's stole it.

Has anyone heard anything from the Illinois AG other than the postcard acknowledging they received our initial paperwork? How about that law firm from Chicago that was going to maybe file a class action lawsuit? Anyone heard from them after submitting all your paperwork?

Heidi wrote:

Has anyone heard anything from the Illinois AG other than the postcard acknowledging they received our initial paperwork? How about that law firm from Chicago that was going to maybe file a class action lawsuit? Anyone heard from them after submitting all your paperwork?

Have not heard from either of them , but have had questions from my AG here in Indiana , but of course they only have questions for me , they have given no information out about their filing.I wondered if you were making any progress in California? This is such crap.If someone stole less money from a bank the police would go on a rampant chase after them and potentially kill innocent people in the process!I am beginning to detest capitalism, I never thought I would feel this way about that!How are you in California?

Also, the contact I have in Chicago has not received any compensation from the IDPFR yet either.

Nobody has taken any action at the State level in California. It was one of those refer you to someone else things. My local tax authority waived late fees and penalties. That is the only good thing so far. Someday we will all probably get a class action check for a five bucks to "compensate" us.

Well we checked the F.B.I site and there is absolutely nothing new. The AG's office here is Pa. is silent as is the AG in Illinois. I really don't think we are going to hear anything for a very long time.

Heidi wrote:

Nobody has taken any action at the State level in California. It was one of those refer you to someone else things. My local tax authority waived late fees and penalties. That is the only good thing so far. Someday we will all probably get a class action check for a five bucks to "compensate" us.

I know you are probaly right but what is concerning to me is that all of our tax authoritise are waiving the late fees but the Lurie guy and his Dad worry free! Should not the feds be breathing down their backs for not paying the taxes? Did you write "Arnold" about this ?I think that the more government officials who know the better.Something smells like a rat in all of this and maybe hopefully some honest politician will call everyone out.

I never in all my 45 years will understand that not a g d t is being done about MR. AND MR. thief.
What is happening in our country that the hard working man or women can get ripped off and NOTHING seems to be done about.

This is just as bad as MURDER.

I've just received information that the IL Atty. General has settled with the owners of American Escrow, but do not have any detail. Has anybody received any details?

Two Cents wrote:

I've just received information that the IL Atty. General has settled with the owners of American Escrow, but do not have any detail. Has anybody received any details?

have not heard a word,not going to hold my breath,the only thing i want to hear is how much jail time they got.PLEASE let us kmow if you hear any more,THANKS

Karen from Cincinnati wrote:

It is disgusting that they continue to go on vacations and open businesses. I had to cancel my family's vacation to use the vacation fund to pay my taxes, because the Lurie's stole it.

I have met the family only a few times, and I knew they were awful right away. They are completely arrogant, and disgusting, not mention they drive the most expensive cars they can get there hands on. Who in the world buys there idiot son a company when he is in his 20s. The dad, mom and son Luire should all be in jail and there assets should be sold off. Thats what should happen when you use other people's money to buy condos, expensive cars and go on lavish vacations. Also, Derek Lurie was on vacation 80% of the time that he was "managing" his company. The fact that his CFO stole $1MM isn't suprising, thats why you actually need to be at the office. I hate this family and love that they are in the media spotlight now so people can see what and who they are.

Lindsey wrote:

<quoted text>
I have met the family only a few times, and I knew they were awful right away. They are completely arrogant, and disgusting, not mention they drive the most expensive cars they can get there hands on. Who in the world buys there idiot son a company when he is in his 20s. The dad, mom and son Luire should all be in jail and there assets should be sold off. Thats what should happen when you use other people's money to buy condos, expensive cars and go on lavish vacations. Also, Derek Lurie was on vacation 80% of the time that he was "managing" his company. The fact that his CFO stole $1MM isn't suprising, thats why you actually need to be at the office. I hate this family and love that they are in the media spotlight now so people can see what and who they are.

Yes and did you read the post from the older lady Philadelphia who is having trouble buying her meds for her myasthenia gravis because of these crooks! It truly is disgusting. I am glad I do not live in Highland Park near these awful people!

If we the victims were wealthy, like the people who invested with Bernie Madoff, there would be more of an outcry. The papers have forgotten about us just like everyone else. If you are from out of state the AG of Illinois certainly isn't interested in any of us. Do me a favor. If you are from the Chicago area and there is something in the paper put it on this blog. Tell us what paper and what date, so we can look it up.
Thanks

Looks like the Illinois folks are getting their money...too many of the affected people are not from Illinois. Still, file a claim if you haven't already. You never know...

This is an 11/17 press release from the State of Illinois Department of Financial & Professional Regulation.

State pays nearly $78,000 to Illinois homeowners hurt by American Escrow closure
Consumer protection fund reimburses residents after Chicago-based company fails to pay escrow obligations

CHICAGO – Thirty-four Illinois homeowners were made whole this month when the Illinois Department of Financial and Professional Regulation (IDFPR) repaid all the money lost from their escrow funds earlier this year. The homeowners were in default for taxes and insurance coverage after Chicago-based American Escrow, LLC went out of business without making the obligatory property tax and insurance payments from their escrow accounts.

Checks with a combined total of $77,912.73 were mailed during the past few weeks to homeowners throughout Illinois, some of whom were in danger of losing their homes due to unpaid property taxes. American Escrow was in the business of collecting property tax and insurance payments for homeowners whose lenders did not offer escrow services. After the company failed to make payments, IDFPR tapped its Transmitters of Money Act (TOMA) Consumer Protection Fund to help Illinois customers—who were among thousands nationwide—that were hurt by the company’s failure.

“It was like a hit in the gut when I got a letter from Cook County that my home was up for sale due to back taxes,” said Maizelle Archie of south suburban Flossmoor, who stayed in close contact with IDFPR and Attorney General Lisa Madigan’s office during the ordeal.“But, I breathed a sigh of relief when we received a check for full amount of the outstanding property taxes.”

“It is rewarding to be able to use this fund in the way it was intended. Homeowners in Illinois should know that the Department works for them and that we will do everything in our power to protect them from harm,” said Brent E. Adams, Secretary of IDFPR.

IDFPR last summer cited American Escrow and its owners, Derek Lurie and his father, Steven Lurie, the unlicensed practice of transmitting funds electronically. At the same time, Illinois Attorney

General Lisa Madigan filed a lawsuit alleging that American Escrow violated the State’s Consumer Fraud and Deceptive Business Practices Act when the company unexpectedly closed in March 2009.

IDFPR expects to pay an additional $27,000 in the coming weeks. Each claim was handled on a first-come, first served basis.

IDFPR’s action also demanded that American Escrow make a payment to the TOMA fund at four times the amount of money for all transactions conducted by the company during the time in which it operated without the required license.

American Escrow victims can access the TOMA Consumer Protection claim form at http://www.idfpr.com/dfi/default2.asp

Jen, thanks for the info. I was right. The people from Ill. would get their money. The other states are not fighting for us.

WE in VA have not received any information. I guess IL takes care of the people. WE filed with Il AG, with Penn lawyer office and with VA AG...heard nothing!