Regions Financial review: fraud/misappropiation of funds
• Regions Bank filed two lawsuits on 12/23/2008 naming Menaker Investments I as the defendant.
o 2008-CA-0033992-O for default of $3, 880, 000.00
o 2008-CA-0033999-O for default of $2, 510, 000.00
• Regions Bank filed the lawsuit on 1/27/2009 naming Giles-Menaker as the defendant.
o 2009-CA-002547-O for default of $1, 700, 000.00
• Mitch Menaker files for Bankruptcy on 7/29/2009
• Mitch Menaker forms MMDL LLC with Donald Lake (former construction loan contact for Giles-Menaker from Regions Bank) on 6/8/2009
• Mitch Menaker is granted bankruptcy 11/5/2009
• Mitch Menaker and Donald Lake start I Scream Humour Enterprises
o ( http://iscreamhumour.com/)
ALL THE ABOVE INFORMATION IS A MATTER OF PUBLIC RECORD
Here is what I am finding hard to accept:
• How does a man default on over $8, 000, 000 in construction loans from Regions Bank, File for and get approved for bankruptcy, and in the meantime form and develop a new business with the man who was the main contact with Regions Bank for both companies?
• How does Regions Bank allow for the overdraft of a "purchase card" to reach over $140, 000 before turning it off (as laid out in lawsuit)?
Failed to mention that:
• Donald Lake was an executive with Regions bank and the position of Vice President of Private Banking.
• Donald Lake leaves his position with Regions Bank after 6 ½ years to go into business with Mitch Menaker.
Mitch Menaker opened two specialty stores in Winter Park, Reclaim The Fame and Reclaim The Past using monies from construction loans from both Regions and Mercantile banks.
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