Wednesday, March 7, 2012

Engelmann in prison

Marc R. Engelmann, a Davenport, Iowa real estate attorney, is now incarcerated. According to the Federal Bureau of Prisons website, he is at the Terra Haute FCI, prisoner number 12846-030. His incarceration apparently began yesterday afternoon.

Engelmann has hired a new attorney and appealed his conviction, still claiming that he acted in "good faith" in his role in this mortgage fraud scheme. This, even though the government put up a veritable parade of witnesses testifying that he was fully aware his actions were illegal, and that he made documented efforts to hide the fraud from the lender and closing agent. If nothing else, he was the self-professed real estate law expert of the Quad Cities, so how could he not know these transactions were fraudulent? Either he knew his actions were illegal, or he is far, far from an expert.

There were actually about a dozen attorneys who represented individuals who sold property to Darryl Hanneken and Robert Herdrich. Herdrich and Hanneken, who along with their real estate agent, Mary Pat Harper (aka Mary Pat Lord), were the center of this large fraud scheme, which involved dual contracts and under the table kickbacks from the sellers back to the buyers in the tens of thousands of dollars per transaction. I would imagine there are about a dozen attorneys in the Quad Cities who are breathing sighs of relief as the statutes of limitations expire on these transactions.