Financial Resources Mortgage fraud case

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Financial Resources Mortgage fraud case

Photo by Max Bittle / Monitor staff

From left: Trudi and Cliff Mulherin, their daughter Gale Wales and her husband, Robert Wales. Before getting involved with Financial Resources Mortgage, the Mulherins' investments were limited to a simple savings account, the contents of which came from decades spent working blue-collar jobs: Trudi, 79, as a shoe store cashier and a supermarket meat wrapper, and Cliff, 84, as a truck driver and logger. Over time, the extended family invested more than $1 million. Purchase photo reprints at PhotoExtra »

Opinion

My Turn

State must get to the bottom of FRM debacle

Gov. John Lynch finally had to face up to the complete ineptitude of Banking Commissioner Peter Hildreth and ask for his resignation. Hildreth, of course, refused to step down. He knows his days are numbered, but he also surely knows how… 2

June 23, 2010

Monitor editorial

Bank commissioner should step down

For New Hampshire to prosper, investors and lenders must have confidence in the state's ability to use its regulatory powers to protect their interests. That confidence was shaken, if not destroyed, by the revelation that an alleged… 3

June 4, 2010

My Turn

Public deserves the truth on Ponzi case

Nearly two weeks ago, I resigned my position as state director of securities. My primary reason was to pressure the attorney general and the Banking Department to disclose all facts regarding Financial Resources Mortgage, the alleged Meredith-based… 8

May 29, 2010

My Turn

Poor performance from banking chief

Last Friday, Securities Director Mark Connolly and Banking Commissioner Peter Hildreth testified at a legislative hearing regarding the Financial Resources Mortgage Ponzi case. Following is a summary of my observations. Connolly and his… 2

May 18, 2010

My Turn

So which was I, greedy or naive?

I live in Washington state and unfortunately am involved in the Financial Resources Mortgage mess. I have used the Monitor to follow developments and have particularly appreciated the articles by Daniel Barrick. I was disappointed to read… 7

April 25, 2010

Our Turn

12 to 15 percent returns? You bet

Are hard money loans that yield 12 to 15 percent interest rates realistic? Yes. Private, hard money loans, also known as bridge loans, are essential to the successful functioning of both individuals and business. Why? There are innumerable… 1

April 25, 2010

Editorial

Promise of riches resulted in ruin

The financial firms that Lakes Region businessmen Scott Farah and Donald Dodge ran appear to have been run-of-the-mill Ponzi schemes that promised investors unbelievably high earnings. Like all such scams, which rely on recruiting new investors… 4

April 18, 2010