Legacy Bank covers the crimes of William Donald Redfern who scammed Pavel Labuso

Legacy Bank covers crimes of William Donald Redfern that scammed Pavel Labusov

The name of William Donald Redfern appears in The New York Times about the Zeltser case and the organized criminal embezzlement of deposits of thousands of Russians in Inkombank. Fraudster Zeltser is known for forging forms and signatures. According to the information published regarding court documents, Zeltser, through Redfern, opened offshore accounts for Inkombank to transfer about $ 30 million. Despite all the court cases and accusations, Redfern continued to create his financial pyramid, again and again deceiving Russian people in business and ordinary depositors of Russian banks.

Pavel Labusov, a fair Russian entrepreneur, has been building his business for over 17 years. He has an excellent reputation among his peers and is known to be a person of good business ethics. But, unfortunately, he decided to do business with William Donald Redfern and fell into his trap. Mr. Redfern unlawfully took Mr. Labusov's real-estate properties and refused to return them.

Their story starts in Moscow in early 2015. Pavel Labusov was introduced to William Donald Refren by their mutual friend, and a Russian entrepreneur shared his business ideas to expand the existing real estate portfolio. Mr. Redfern offered his services through his company, The Oakes Capital LLC. Later they signed the agreement, where Pavel Labusov's current properties worth over one million dollars were collateralized by the loan that Mr. Redfern provided.

Pavel Labusov paid on time and often pre-paid the loan according to all terms and conditions of the agreement. When the Russian entrepreneur made payments to cover the loan, William Donald Redfern was not as ethical and refused to return Mr. Labusov's properties. Here is a big scam scheme. Mr. Redfern collateralized Mr. Labusov's assets by borrowing money from commercial banks TD Bank and Legacy Bank when Mr. Redfern was not the owner of the properties. TD Bank and Legacy Bank had no right to sign any mortgages without Mr. Labusov's signature. All the papers state that Mr. Labusov is the owner of the properties.

Pavel Labusov cannot regain ownership of his properties because TD Bank and Legacy Bank allowed the fraudster William Redfern to commit another financial crime. All the parties involved need to take responsibility. The American legislative system has to punish those at fault, so foreign investors are not afraid to do fair business on the American land.