There is no jail term since the bank didn’t own the home yet....proceedings hadn’t gone through .....He will have civil proceedings filed against him that I expect he will cure with Bankruptcy....
Based on his IRS position and other financial problems I doubt that any profit over the $170K amount would have been relinquished to him.
Interesting......At least it wasn’t arson which would have placed firefighters at risk and may have been illegal....
I’m not an attorney, but, was just wondering since he owed on the home, didn’t the bank technically own it before it was bulldozed? He didn’t have a clear deed.
The home was legal collaterol for the loan, his destruction of the home is an act of fraud, he even admits it is to cheat the bank out of it’s money owed...
They're not foreclosing on the structure, they're foreclosing on the loan, which no amount of bulldozing is going to erase.
What he did here, is destroy real property that the bank still owns.
He's going to jail. And deservedly so.