Anybody hear anything about this?
Driving by the place with all the big houses and ponds on rt. 391 this morning there was a SWAT style armored van outside along with a couple hamburg cops and some people milling about. The news is reporting that the FBI has been gathering stuff all day. Not saying much else so far.
Posh Hamburg homes
raided
FBI agents receive “sealed search
warrant”
Updated: Wednesday, 01 Jul 2009, 4:55 PM EDT
Published : Wednesday, 01 Jul 2009, 2:28 PM EDT
* Michele McClintick
* Posted by Emma Orn
HAMBURG, N.Y. (WIVB) - Two homes that made news for being some of the most expensive in Erie County, are in the spotlight for a much different reason.
FBI agents spent the whole day going in and taking boxes out of two massive homes on Boston State Road in Hamburg.
Agents won’t say why they’re raiding the homes, but only confiming that they received a “sealed search warrant” to do so.
If the mega-properties look familiar, that’s because they made headlines as being the most expensive homes purchased in Erie County, at $3 million and $3.3 million.
They were reportedly purchased last year by Phantom Holdings, Inc., a Cleveland investment company.
The company is owned by a Michael Wilson, a hedge fund trader in his early 20s. The previous owner of the property is John Russo.
His attorney, Bruce Zeftel tells News 4 that Wilson failed to make a mortgage payment of $1 million dollars on the two properties in May, so they took foreclosure action against Wilson.
He had no idea why FBI agents swarmed the Hamburg property Wednesday.
The Nest Interiors owner said, “He has no conscience.”
The owner of Nest Interiors, who didn’t want to be identified is out around $96,000 dollars.
She says she did interior decorating for the two homes and admits, she was suspicious of a 21-year-old millionaire, “At first I was a little and then I thought ‘oh, he must have hit it right in the stock market,’ but then I became a little suspicious, and that’s when I stepped away.”
FBI agents are swarming a pair or properties on Boston State Road.
The homes, which were purchased for more than $6 million, are owned by Phantom One Holdings LLC. That company is reportedly managed by 22-year-old Cleveland hedge fund trader, Michael Wilson, who lives on the property.
FBI spokesman Earl Gould confirms that agents executed a search warrant at the properties but would not disclose anything further about the investigation.
A local interior designer spoke to News 4 about Wilson, saying he owes her $ 96,000 for work she did on the property. The designer , who chose not to be identified, has since put two liens on the property in an effort to recover some of their losses.
Copyright WIVB.com
Double post fail
Posh Hamburg homes
raided
FBI agents receive “sealed search
warrant”
Updated: Wednesday, 01 Jul 2009, 4:55 PM EDT
Published : Wednesday, 01 Jul 2009, 2:28 PM EDT
- Michele McClintick
- Posted by Emma Orn
HAMBURG, N.Y. (WIVB) - Two homes that made news for being some of the most expensive in Erie County, are in the spotlight for a much different reason.
FBI agents spent the whole day going in and taking boxes out of two massive homes on Boston State Road in Hamburg.
Agents won’t say why they’re raiding the homes, but only confiming that they received a “sealed search warrant” to do so.
If the mega-properties look familiar, that’s because they made headlines as being the most expensive homes purchased in Erie County, at $3 million and $3.3 million.
They were reportedly purchased last year by Phantom Holdings, Inc., a Cleveland investment company.
The company is owned by a Michael Wilson, a hedge fund trader in his early 20s. The previous owner of the property is John Russo.
His attorney, Bruce Zeftel tells News 4 that Wilson failed to make a mortgage payment of $1 million dollars on the two properties in May, so they took foreclosure action against Wilson.
He had no idea why FBI agents swarmed the Hamburg property Wednesday.
The Nest Interiors owner said, “He has no conscience.”
The owner of Nest Interiors, who didn’t want to be identified is out around $96,000 dollars.
She says she did interior decorating for the two homes and admits, she was suspicious of a 21-year-old millionaire, “At first I was a little and then I thought ‘oh, he must have hit it right in the stock market,’ but then I became a little suspicious, and that’s when I stepped away.”
FBI agents are swarming a pair or properties on Boston State Road.
The homes, which were purchased for more than $6 million, are owned by Phantom One Holdings LLC. That company is reportedly managed by 22-year-old Cleveland hedge fund trader, Michael Wilson, who lives on the property.
FBI spokesman Earl Gould confirms that agents executed a search warrant at the properties but would not disclose anything further about the investigation.
A local interior designer spoke to News 4 about Wilson, saying he owes her $ 96,000 for work she did on the property. The designer , who chose not to be identified, has since put two liens on the property in an effort to recover some of their losses.
Copyright WIVB.com
How the fuck is his Mortgage payment $1,000,000? Thats 1/6 the cost of the homes?
Unless it was a 6 month mortgage? LULZ
it may have been some wierd mortgage for a jumbo… they do exist…
He spent some serious bank on a friday night at PURE The dude has some serious bank.
Really nice guy too. :tup: to his success
Strange. Oh well. :gotme:
Sorry guys, I’ll explain later.
:shrug:
doesnt look like its going to last much longer if the FBI is raiding your house with a sealed warrant… (usually indicating they are looking for something BIG)
so there may be fraud involved etc…
I’m just curious how @ 22 in that short of a span you make that much money? I understand Hedge funds and how they work, but @ 22? I’m thinking he had a ton of money (family) to turn into even more money.
He be fucked
Quantcast
F.B.I. agents are going through the home at 6523 Boston State Road in Hamburg. The SWAT team was on scene around 7 a.m. Wednesday morning.
A source close to the investigation tells Two On Your Side, no arrests are expected on Wednesday. The search warrant is part of an effort to build a financial fraud case. Typically, agents look for computers, receipts and bank record
The home was sold last year for $3 million, making it one of the highest prices ever paid for a residence in Erie County history.
Two On Your Side has also obtained documents from the Erie County Clerk’s office that show the former owner of the property at 6523 Boston State Road began the foreclosure process on June 15, 2009.
An attorney for the former owner, John A. Russo, says Russo financed part of the mortgage and a payment due to him in May was not made.
A Real Property Transfer Report lists Phantom Holdings One, LLC as the buyer of the home. The report, however, was signed by Michael Wilson.
Wilson and Phantom Holdings One are both named in the foreclosure documents filed in June.
Damn dude needs to pay his bank note if he wants to keep warm.
I guess he was a millionaire at 16. had no life has been trading his parents money around since like 14 … from the sounds of it… he bought his parents the house… and he just made their retirement for them.
…Russo financed part of the mortgage…
Wow.
If the FBI is involved there might some be some isses with securities fraud. There was no mentioned of the SEC being there though.
Akuma
Going with a Ponzi scheme…only because everyone else is doing it!
im going with ponzi scheme as well. there were words of this from the news, but we all know how the news blows things out of proportion
He also owes a Buffalo interior design company $96,000 for furniture.
I bet it was a ponzi scheme…