Thursday, May 30, 2019

The Porn Is Not The Problem

An attorney convicted of bank fraud and conspiracy to commit bank fraud has been suspended by the Michigan Attorney Discipline Board pending further proceedings.

MFI Miami reported on the charges

Porn Lawyer Paul Nicoletti is in trouble with the law. He has been accused of bank fraud. Paul Nicoletti oversees a network of porn lawyers in several states. Nicoletti regularly sues thousands of Internet users for downloading his clients’ pornographic movies.

Nicoletti’s main client Malibu Media has filed more than 4,300 lawsuits since 2009 according to a report by Lex Machina.

Porn Lawyer Paul Nicoletti was indicted on four charges of bank fraud stemming from real estate deal he was a part of in 2005. The charges were unsealed three weeks ago and were published on Saturday by the blog Fight Copyright Trolls.

The indictment alleges that the Porn Lawyer arranged several construction bank loans from Fifth Third Bank. Prosecutors also say the Porn Lawyer and several co-conspirators used “straw buyers” to arrange for construction loans. The straw buyers were paid a fee for use of their names and credit histories. The straw buyers also allegedly wrote false information on the loan applications to qualify.

The feds allege Porn Lawyer Nicoletti was involved with two fraudulent loans. Two loans were for $2.66 million each and another loan for $3.57 million according to the indictment.

Nicoletti Claims Fifth/Third Pressured The Feds

The porn lawyer claims he is innocent of any wrongdoing. He plans on fighting the charges. He claims the allegations stem from a title company he ran ten years ago.

Nicoletti’s claims Fifth Third Bank pressured the feds to indict him. He also alleges Fifth/Third sued everyone in Oakland County in 2005 and lost a lawsuit against his underwriter, First American. 

Nicoletti said:

Their only hope is to convict me of a felony. So they’re putting pressure on the US Attorney’s office.

The charges were made just months before the 10-year statute of limitations for Nicoletti’s alleged crimes.

Nicoletti told Ars Techina:

Two years ago they asked me if I was interested in plea bargaining, and I said ‘hell no. My plan is to defend the case on the basis of the truth. I had no idea these loan applications were false. My job was to close the loans, not to process or approve them.

Nicoletti also claims Fifth/Third was processing the loans with a fast and loose attitude. They also failed to verify the information. He also claims he closed thousands of loans for the bank but only several of those are said by the feds to be fraudulent.

(Mike Frisch)

https://lawprofessors.typepad.com/legal_profession/2019/05/an-attorney-convicted-of-fraud-has-been-suspended-by-the-michigan-attorney-discipline-board-mfi-miami-reported-on-the-charge.html

Bar Discipline & Process | Permalink

Comments

When is sentencing for nicoletti?

Posted by: Jeff | Sep 1, 2019 4:38:00 PM

Post a comment