Wednesday, June 06, 2012

EOM Investigative Report: Lynda Bell's Husband's Mortgage ties to John DuBois's Business Partner. By Geniusofdespair

The question in my mind after writing this:  Why would a guy form a mortgage corporation a few days before a closing, write just one mortgage, that mortgage to Lynda Bell's husband...What would be a reasonable explanation?

Miami Dade County Commissioner Lynda Bell's husband Mark, bought a historical hotel in Homestead at 5 South Flagler Avenue. Wendy Lobos (a former Homestead Commissioner) registered a corporation for him on February 16th to buy it. A minister told me he thought the deal was his. He had plans drawn up and was checking with government entities when he heard Mark Bell got the Hotel. The Minister gave Bell the plans he had drawn up. He was disappointed.  Bell quickly got a balloon mortgage from Redinn Mortgage, LLC February 23rd. The mortgage was for $225,000, Bell put 10% down on the $250,000 hotel. The details of the financing ARE NOT in the mortgage papers. The interest rate is in a note that is not included in filed papers. In theory, the Bells could be paying 3%, 9% or even 0% interest. The Bells could have a very favorable deal with Redinn, even a sweetheart deal. This does involve the husband of County Commissioner Lynda Bell. Some Realtors I spoke with said that giving a mortgage for 10% down on a commercial property was a very good deal in itself.

Clause I found in the mortgage written by Reddin. Is this common in today's market?

I looked at the Mortgage Company. It was formed Feb. 15, 2012 the day before Mark Bell formed his corporation. That was only 8 days BEFORE the mortgage was written! WHAT?? The thought crossed my mind: Was this mortgage company formed only to write Lynda Bell's husband's mortgage? I looked for other mortgages written by this mortgage company and found none.  I looked up the mortgage company.

The only name associated with the mortgage company, Redinn, was Suhail Nanji. I looked up other corporations associated with Suhail Nanji and found the name John DuBois with Nanji on a couple of corporations, including a second mortgage company. That mortgage company, J&S 8360 Mortgage LLC, had DuBois's name (unlike Redinn that didn't). More on that later.*

This second mortgage company also appeared to write only one mortgage.

Eyecast executive team: John DuBois and Suhail Nanji (who is on Bell's Mortgage documents).

DuBois's Letter
I looked up John DuBois's Corporation, Eyecast. I was surprised to find this photo of he and Suhail Nanji on Eyecast's website.

John DuBois, running for Vice Mayor in Palmetto Bay, held Lynda Bell's victory party at his palatial Bayfront home and is a big supporter of Bell. He, and coincidentally, Lynda too, are in a battle with the County environmental department (formerly known as DERM). Lynda Bell held a town hall meeting about DERM March 3, 2011 and John DuBois was the main speaker at the hearing bashing DERM (see letter for his beef).

Lynda Bell also appointed John DuBois to the county International Trade Advisory Board October 2011. Bell's campaign manager Jose Luis-Castillo (Seijas supporter) is running John DuBois' campaign for Vice Mayor in Palmetto Bay. Castillo also is Vice Chair of the International Trade Advisory Board, the same board Lynda put DuBois on.

Bell's Chief of Staff approached Assistant County Mayor Osterholt the end of January 2012 to discuss John DuBois' problems. A meeting was set up and held March 1st with DERM. This is all going on around the time of the Bell mortgage.

Below is photo of John DuBois and Lynda Bell at a Christian Family Coalition (anti-gay group) event that he hosted at his home.  Did I mention that John DuBois is extremely wealthy? Most of his beef with DERM started about rules he faced building his waterfront home in Palmetto Bay.  He then got involved in his neighbor's problems. There was illegal wetland filling suspected on the property of the 90 year old neighbor (who is/was represented pro-bono by John Shubin).  Why would a man 90 years old be doing filling?

John DuBois and Commissioner Lynda Bell in his Palmetto Bay home.

*Remember that second mortgage company,  J&S 8360 Mortgage LLC, linked to Dubois (Mgr.) and Nanji (Registering Agent) that also curiously wrote only one mortgage that I mentioned? The one mortgage written by this other mortgage company was for an office building in Broward. It appears that both DuBois and Nanji are officers in a Corporation that also owns this office building.

DuBois' Mortgage Company wrote the mortgage for a building in Broward


Corporation that owns building in Broward.
Going in a giant loop, the address of Lynda Bell's Husband's mortgage company - Reddin (that might/might not have given Bell a sweetheart deal on his financing) - is the building in Broward owned by John DuBois and Suhail Nanji. You remember the name Suhail Nanji by now I hope. 

  Hit read more for Lynda Bell's Most Recent Financial Disclosure Report.