Patrick J. Mansell of Boca Raton, Florida was indicted late last week for illegally siphoning funds from government lending agencies Fannie Mae and Freddie Mac through the company Coastal State Mortgage Corporation, a press release from the United States Attorney for the Southern District of Florida indicates. It is unclear whether Mansell, 68, was jailed or, if so, whether he has qualified for a set bail bond amount. The press did not specify an attorney for Mansell.
According to reports, Mansell was once the vice president of Coastal State Mortgage Corporation in Fort Lauderdale. The corporation reportedly serviced loans for various people and businesses, including Fannie Mae and Freddie Mac, two government-sponsored agencies. According to the indictment, from a period between April 2007 and February 2012, “Coastal was a licensed mortgage brokerage whose primary business activity was the selling and servicing of mortgage loans for Freddie Mac and Fannie Mae.” Part of Coastal’s duties included processing and payments and payoffs on those loans for Freddie Mac and Fannie Mae. Sources say Coastal serviced around 21,000 loans for each of the companies, including around 14,000 loans with Fannie Mae alone.
The release claims that “Coastal failed to remit some of the mortgage loan payoffs that it received from borrowers to Freddie Mac and Fannie Mae, resulting in a loss to Freddie Mac and Fannie Mae.” According to a complaint by Fannie May, the losses it suffered from Coastal have not been completely determined, though it is suspect to be more than $28 million. A lawsuit was filed in November by the Federal National Mortgage Association, an associate of Fannie Mae, against Costal for fraud and a breach of contract. The lawsuit sets out to recover “tens of millions of dollars in mortgage loan payoffs and other borrower-remitted funds that Coastal and Mansell wrongfully and fraudulently misappropriated for their own use,” sources say.
Based on reports, the Florida Office of Financial Regulation revoked Coastal State Mortgage Corporation’s business license in August of last year after the company was revealed to be in a compromising financial position. No one from Coastal State Corp made a comment regarding the allegations. It is not clear whether anyone else at Coastal State Corp is suspected to have been involved in the alleged theft.
While some crimes are federal offenses that can mean serious jail time, others are shocking in a different way. Andrew Wilson of Sunshine Villas was arrested Wednesday after he was accused of walking around a neighborhood stark naked for about 20 minutes, news sources report. Wilson, 35, was booked into police custody on charges stemming from the incident. It is unclear whether he qualified for bail or hired legal representation.
According to reports, the incident occurred Wednesday afternoon at the Sunshine Villas community in Port Charlotte. Surveillance footage at the community showed Wilson walking around the community in the nude, beer in hand. “I saw him out my front window…just walking in the middle of the parking lot,” one witness said.
“[Wilson] turned around and started walking towards my way,” another witness reportedly said. “I told him go home and put some clothes on. The cops have been called.” Police arrived sometime later, by which time Wilson was dressed in shorts. He reportedly told police he had not realized he was naked because he had had too much to drink.