The Florida Office of Financial Regulation Receives A Complaint About A Shady $21.3 Million Romspen Loan Made To Caroline Weiss
International fraud investigation company, MFI-Miami has filed a complaint with the Florida Office of Financial Regulation after it reviewed the $21.3 million Romspen loan to Caroline Weiss and her Blue Lagoon properties in 2020.
MFI-Miami examiners found serious irregularities in the $21.3 million dollar loan. Irregularities that call into question the legalities of Romspen lending practices. It could also derail Romspen’s foreclosure litigation against Weiss. So in other words, the inept lender may have cost themselves over $22 million.
As a result, MFI-Miami says they have filed the complaint with the Florida Office of Financial Regulation (OFR).
MFI-Miami has also sent a copy to the presiding Miami judge handling Romspen’s foreclosure against Mrs. Weiss (Case #2023-017596-CA-01).
MFI-Miami also requested that OFR open an investigation into the Canadian lender’s business practices in Florida.
It appears Romspen may have violated Florida law with the way they originated and wrote the loan to Weiss and Blue Lagoon. Additionally, they may have crossed the line with cross-collateralizing Weiss’s house into the security instrument.
Mortgage Fraud Investigator MFI-Miami Is Asking OFR To Investigate The $21.3 Million Romspen Loan To Caroline Weiss
The state of Florida does not require licensing for commercial lenders in most cases. However, Florida law does require commercial lenders to be licensed through OFR before they can lend money to individuals. Additionally, lenders must be licensed with OFR and registered with the Florida Secretary of State if an individual property is being used for collateral.
Where Romspen May Have Crossed Line And Violated Florida Law
The Florida Office of Financial Regulation does not show a license for any Romspen entities in Florida. We know this because we looked it up. You can check it out for yourself on the OFR website here.
In April 2020, Romspen loaned Caroline Weiss $21.3 million against the three Blue Lagoon properties and her personal home. The loan paid off the previous $8 million loan held by BridgeInvest. However, Caroline Weiss is an octogenarian with no experience in commercial development. Weiss was also being sued by her eldest daughter for deed fraud.
Here Is Where Romspen May Have Violated Florida Law
Had Romspen simply loaned the money to Weiss’s Blue Lagoon properties there would be no issue. However, that’s not what Romspen did. They also loaned the money to Weiss individually. MFI-Miami discovered that Romspen filed a lien on Weiss’s home in the ritzy Coconut Grove neighborhood in Coral Gables, Florida. They admit this in their current foreclosure litigation against Weiss filed in May 2023 (Case #2023-017596-CA-01).
This is where it may have crossed the line legally. They lent money to Caroline Weiss from their non-bank tax sheltered subsidiary in the Cayman Islands named TIG Romspen US Master Mortgage LP.
In other words, Florida law requires TIG Romspen US Master Mortgage LP to licensed and registered to lend money in Florida. However, this where the problem is.
Florida OFR shows no license for TIG Romspen US Master Mortgage LP. The Florida Secretary of State also does not show TIG Romspen US Master Mortgage LP is registered to do business in Florida.
Romspen now has a serious problem. Weiss’s lawyer could make the argument that TIG Romspen US Master Mortgage LP’s loan to Weiss and Blue Lagoon was illegal and fraudulent.
Thus, this argument if made properly, it could nullify the loan. It could also be grounds to have the Romspen’s foreclosure lawsuit against Weiss tossed.
Check Out These Government Websites If You Feel You Are A Victim Of Investment Fraud By Romspen
How To File A Complaint In Canada:
Contact The Canadian Investment Regulatory Organization (CIRO) At 1.877.442.4322 For More Information. You Can Also Email Them At complaints@mfda.ca
If That Doesn’t Work, Contact Finance Minister Dominic LeBlanc:
You Can Also Contact His Office On Parliament Hill At 613-992-1020 Or His Office At His New Brunswick Office at 506-533-5700.
If All Else Fails, Contact Opposition Leader Pierre Poilievre’s Office In Ottawa:
Email: Pierre.Poilievre@parl.gc.ca
Call His Office At 613.992.2772 (Parliament Hill) or 613.692.3331.
If You Are An American Citizen. Contact These Federal Agencies:
You Can File A Complaint With The Securities And Exchange Commission By Clicking Here.
Also, You Can File A Complaint With The Federal Trade Commission By Clicking Here
In Addition, You Can File A Complaint With FINRA By Clicking Here
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