… I had similar ideas about this story Bill. 8 years? … The word on this place never got out “on the street”?. Didn’t the banks where the real construction companies banked think something unusual with their commercial accounts. You can’t tell me that there isn’t software that would notice that all of these legit construction companies were cutting many checks to this fake company run by Mom and Son. Wouldn’t it seem strange that this “fake construction” company never pulled any permits for any actual construction? I could go on … Come now!
Of course the banks are complicit. I’m telling you Giza Folks we have got to figure out some way to get in on these gravy trains before it’s too late!
Maybe several regular folks like us should send an email or two to this paper and ask them your great question: When can we expect to see The Miami Herald do the follow up investigation into exactly how this was able to continue for 8 years. They could start with the question of whether or not Banking Rules were followed, or does this show we need new Banking Rules for just such situations.
My prediction … in this case there are too many large construction companies (notice there was no mention of the names of the construction companies) with political connections and the Bank I’m sure has already lawyered up … No one did anything, no one will be prosecuted and no one will spend a single day in jail. At most the Mom might get a slap on the wrist. Also looked around and didn’t see any mention of these construction companies suddenly having a “labor shortage”. That tells me it is business as usual.
