BB&T Bank
|
The line of Credit on
Clara's Home in Key West |
This loan was a Line of Credit for a maximum of
$250,000.00. It was set up in the names of Clara G
Fernandez, Clara G Fernandez Declaration of Trust Date
August 28, 1998 and her husband, Adalberto Jacobo
Fernandez. At the time this mortgage was put in
force, the house was owned solely by Clara G Fernandez
Declaration of Trust Date August 28, 1998.
The total advances as of
the time Clara left Key West in August of 2004, totaled
$171,480.34. Most of which were for Raul’s own use. They consisted of paying off his credit card debts and
day trading on the internet. In his petition for
temporary guardianship, Dr. Pena claimed that Al
accessed this account by way of undue influence. The
evidence shows a very different story than what he put
in the sworn statement submitted to the courts. Here are
the facts. |
| Date |
Written to
|
Purpose |
Amount |
| July
15, 2001 |
First
Union/Wachovia |
No
idea |
$44,421.09 |
|
August 1, 2002 |
Raul
Fernandez |
Supposedly to pay off Raul’s Credit
Card Debt |
$30,000.00 |
|
January 2, 2003 |
Clara |
Cash |
$1,000.00 |
|
January 2, 2003 |
First
State Bank |
To
main checking Account |
$1,000.00 |
| April
10, 2003 |
Bank
One, NA / PFG, Inc |
Private Account for Raul
(Commodities Trading) |
$50,000.00 |
| May
1, 2003 |
Fidelity Investments |
Day
Trading Money for Raul |
$10,000.00 |
|
December 9, 2003 |
American Nat. Bank / PFG. Inc. |
Private Account for Raul
(Commodities Trading) |
$20,000.00 |
| April
27, 2004 |
OCHD |
Bay
Lake Project |
$310.00 |
| April
27, 2004 |
Sullivan Surveying |
Bay
Lake Project |
$350.00 |
| April
27, 2004 |
Stephen & Davis |
Bay
Lake Project |
$2,739.25 |
| April
28, 2004 |
BOCC |
Bay
Lake Project |
$50.00 |
| June
2, 2004 |
Micro
Spinal Center |
Raul’s Personal medical Expense |
$11,610.00 |
|
$171,480.34 |
Note that
$3,449.25 was spent on the Bay Lake Project
(House Construction on lot 111) that Raul
decided not to build.
Note that $70,000.00 went into a Private
Account in Raul's name (for Commodities
Trading)
Note that $10,000.00 went to Fidelity
Investments for Raul’s Day Trading.
Note that $30,000.00 went to Raul supposedly
to pay off Raul’s Credit Card Dept.
Note that $11,610.00 went to pay Raul's
medical bill that he claims he paid from the
$25,000 he took form Clara's Merrill Lynch
Account. |
|
The letter below was written by Raul
Fernandez, webmaster of
http://elder-abuse-cyberray.blogspot.com and
http://blog.elderabusehelp.com. He is saying
that his parents Line of Credit with BB&T Bank on his
parents home was for the purpose of a foreclosure on a
mortgage, remodeling the Key West House in order to sale
and the construction of a house in Bay Lake. As you
can see, most of the money went personally to Raul for
gambling in day trading and paying off his credit card
debts. Nothing was paid out of this line of credit
for remodeled the Key West or for a foreclosure and only
$3,499.25 was spent on preparation for building the
house in Bay Lake. Considering that Clara was 85 years of age at the
time and Raul had Clara's power of attorney, and Clara
was at his mercy, I think
that having her transfer $70,000 out of her line of
credit on her homestead into a private account in his
name for gambling is unquenchable, especially
considering where the money was coming from.
After Raul got Clara back, this
account reached $245,000.
As of October 2007, the monthly
payment is over $1,500. Clara's Social Security
check would now barely covers the monthly line of
credit payment. Clara saw it coming in 2004 and
took appropriate action. Then Dr. Pena stepped in
and put Clara right back in Raul's control and this is
the result.
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Here is an
excerpt from
Raul’s website.
Raul says:
When Clara
started getting Dementia, she wanted to sign the house,
CD's, assets over to us, however we are old fashioned
and we told her "No all those assets are yours until you
die, you might need them, we are not here for that." As
her mental abilities declined a group of opportunists
saw the door swing wide enough for them to get control
and vacate her trust of anything of value, including
some unique personal jewelry, which Clara was wearing on
the day she was taken and is un accounted for.
Raul did:
Taking everything he could was exactly what he was
there for, first the line of credit on the house, and
then in
November of 2003 he had her take the house out of her
trust and deed half of it to him. Then he went
after her Merrill Lynch account after she left Key West. These are the
facts.
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