“Devastated Still With No Hope. . .”: Another 1031 Tax Group Victim Needs Your Help!

The 1031 Tax Group victim’s list continues to get longer and more compelling with the following comment-letter I received this past week. Like Elizabeth and the other victims of the Okun owned 1031 Tax Group, Rudy Lozano is a victim with the type of story we all should be alarmed about hearing.

Even worse, Rudy is a Real Estate Broker which proves that this type of scam can happen to anybody at anytime!

If any of my reputable QI’s, attorneys, CPA,s, journalists, or qualified investment professional readers can and will help Rudy, please comment or better yet contact Rudy Lozano. Together maybe we can find answers or a resource that Mr. Lozano may utilize in his efforts to get help:

“My name is Rudy Lozano and I am a first generation Mexican American and proud owner of a REMAX Franchise in San Antonio. On the advice of a my fee attorney in San Antonio DBA Lawyer’s Title I was recommended this national exchange service.

I am NO attorney but on the advice and opinion of this attorney I took his advice and deposited my 1031 exchange $$$.

My question is do I have any recourse against this fee attorney?

I am not sure if a kick back was involved from recommending the service but the attorney could have nonetheless referred me to the state insured and nationally recognized 1031 exchange that Lawyers Title has in place rather than one that was not regulated and had nothing to do with his parent company and or firm.

This attorney is a millionaire and I am penny-less!!!!!

I cannot understand if Okun has over 700k million in assets why the BK Court is not pushing to sell all assets NOW to satisfy all pending claims that are under 300k million?

Can someone explain this to me as if I were a 3 year old.?????

My parents who are 70 years old sold this property so that I could expand my business and take care of them like a good son does. NOW I have no money and a $1500 debt monthly that I pledged to my parents to ensure they did not have to rely on SSI. My obligation is pending to my parents who could no longer handle this rental property due to their age-on money I never even have seen, used or might never even get back. Till this day they do not know the money is missing or what happened in fear their health will diminish.

If there is a GOD or JUSTICE in this world OKUN needs to dispose of all his assets to satisfy those of innocent hard working people.

He needs to be reported to any and all reporting agencies that have to do with securing a loan, job or passing securities and exchange clearances. I have filed a postal criminal claim against this sub-human being.

Devastated Still with NO hope in San Antonio, TEXAS.

Why does the government and the IRS wish NOT to be involved?

We must learn from our past mistakes and ensure that capitalism continues to reign in this free world but we must go after unethical people with a passion for JUSTICE.

For all of you that are suffering GREAT financial emotional,spiritual and physical stress, GOD Bless YOU!

YOu are NOT alone.”

Sincerely,

Rudy Lozano,
Broker of Record
RE/MAX Fidelity Realty

http://www.fidelityrealtysatx.com
http://www.mysatxmortgage.com

210/641-1400 main
210/559-8888 cell

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9 thoughts on ““Devastated Still With No Hope. . .”: Another 1031 Tax Group Victim Needs Your Help!

  1. Rudy

    You relied upon your attorney in your decision to use this exchange company.

    Your attorney owed you a fiduciary duty and is therefore required to exercise reasonable care in recommending other professionals to you.

    I do not know Texas law, but in CA, you would have the basis for a cause of action against him.

    I strongly recommend you seek the advice of a Texas attorney experienced in legal malpractice claims.

    The facts concerning what your attorney should have known or what investigation by him was necessary before he recommended this company to you may or may not be sufficient for you to prevail in this claim but you need to find an expert in San Antonio who can properly advise you.

  2. Rudy, I was one of the owners of one of the companies purchased by the 1031 Tax Group as well as a friend and colleague of Bill Bennet. He is, as were we, very reputable, well established and very capable as intermediaries. The majority of our business referrals were from attorneys who had affiliations with title companies who owned or were affiliated with their own QI firms, however they chose to refer to independents because of our specialized knowledge, our availability to consult with as well as our high degree of professionalism. We were bonded, as well as insured. I suggest to you that you determine which of the E & O carriers National Exchange Services was insured through and contact them. You can probably get a list of the potential Insurance carriers through the Federation of Exchange Accomodators (FEA). They have been very helpful to others in your situation.
    We have been interviewed (as witnesses) by the IRS Criminal Investigation Division as well as the Federal Attorney General in charge of this horror. Their hope (and mine) is that Mr. Okun will be living in a much larger house in the near future, and we hope he will have a room mate namede “Bubba”.
    Good luck to you – and by the way, Okun still owes us a huge sum of money from the purchase of our business. We can recoup nada, zip, nothing from the destruction of our reputation and good name.

  3. John,

    Although the media has taken it’s eye off the ball, I will continue to move forward until some type of settlement is made public.

    In the meantime, I receive at least one letter like this per month. It both breaks my heart and angers me to think of the shit we allow to go on in this country yet nothing is being done.

    Without being too jaded, it is about how much money you have, how much money you can use to change your outcome, and it is about those people who are willing to sell their soul to get what they want at the life threatening expense of others.

    Thanks for chiming in John. I continue to point out http://theharperteam.com as a template for all Realtors to follow in their efforts to step into Web 2.0 and survive this market.

    Keep up the solid work!

    dean

  4. Pingback: - 1031 Exchange Expose - San Ramon Danville Dublin CA Real Estate

  5. Not that it will make you feel any better, Rudy, but Lawyers Title is owned by LandAmerica Title and their Exchange Company was LES. They just came up $200 million dollars short. They were not insured by the state. No such insurance exists. You might have just as easily lost your nest egg there as well.

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