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interest in a specific mortgage, that she would receive monthly
interest payments of approximately 16 percent, and that her
principal would be returned after about 1 year. By letters on
CEA stationery dated May 9 and August 12, 1986, petitioner
confirmed to Lawrence that she had purchased interests in three
mortgages issued by borrowers named Guyre, Farber, and Small,
that she would receive monthly interest payments at 16 or 19
percent, and that mortgage assignment documents would be sent to
her "in a few days" or "in about two weeks".
A check drawn on CEA's account representing the initial
interest payment for the first of Lawrence's three advances was
sent to her on time. The second and third scheduled interest
payments from CEA also may have been punctual. After she had
given petitioner the third and final check in July, interest
payments were few and sporadic, all checks sent to her were
written on petitioner's personal accounts, and many of the checks
bounced. Despite Lawrence's repeated requests, petitioner never
sent her the mortgage assignment documents as he had promised.
In April 1991, after Lawrence had threatened legal action against
him, petitioner sent her an instrument purporting to evidence the
assignment to her of a mortgage in the principal amount of
$14,953 from one Frank Di Domenico. Noticing that petitioner had
notarized the instrument and recognizing the signature of Frank
Di Domenico to be in petitioner's handwriting, Lawrence filed a
complaint against petitioner with law enforcement authorities.
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