Legal Question in Legal Ethics in Mississippi

I invested in 52 properties. I lost them all in forclosure in 2003,2004,2005,2006 and 2007. I later found out that the banker appraiser and seller were all in a conspiracy. The seller has pleaded guilty to consiparcy and bank fraud and is now serving a 21 year sentence. Is it too late for me to try and sue the bank to recoup my losses and damages or is there a statute of limitations on such crimes?


Asked on 5/24/10, 1:18 pm

1 Answer from Attorneys

Wayne Woodall Wayne Woodall Attorney

There is a statute of limitations but where fraud is involved the statute is sometimes extended. You probably can do something if you act at once - and what you can do will depend on how the fraud caused you direct damages. Just because they entered a plea won't "justify" you in filing a lawsuit unless what they did directly affected your ability to pay for the property or to redeem the property. If one of the co-conspirators ended up buying your property in foreclosure your case would seem to be much stronger. If the action they undertook had nothing to do with you or your properties you may be out of luck. You need to consult counsel without delay (immediately!)

Read more
Answered on 6/05/10, 5:11 pm


Related Questions & Answers

More Legal Ethics & Professional Responsibility questions and answers in Mississippi