Who Helped Dare?


By DIA, Section News
Posted on Fri Nov 17, 2006 at 05:24:24 AM EST

Fred Lebrun chimes in on the Aaron Dare scam. Obviously Dare belongs in jail. But as Lebrun points out, and anyone with a brain knows, there is no way Dare should've gotten his second round of big funding. So who helped Dare get the $8 million? People at HUD? The bank? The Mayor? Because you know that if an $8 million deal was going down in the city of Albany using HUD money, the Mayor knew all about it. Look forward to learning these details.

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Who Helped Dare? | 3 comments (3 topical, 0 hidden)
I dont think that is how it works. (none / 0) (#1)
by alfrednewman on Fri Nov 17, 2006 at 05:56:17 AM EST
Just about any real estate loan in excess of a million dollars is pretty much passed onto HUD automatically. The banks actually borrow the money for the loan...

I believe that the actual lending organization at the time was Key Bank.  I didn't go back and check (not going to pay the Times Union $2.00).

The question should be how did Dare get the Bank to lend him the money. Wonder if there wasnt a little pressure by a state agency involved.  I wonder if Key Bank didnt fire the loan officer.

Here is the problem with chasing this one down. The head of HUD at the time was Andrew Coumo and the people that are in a position to check this are either friends of Dare, friends of former state officials whose offices may have been involved, or friends of Coumo.

Nothing will be done.

My prediction is that they look at the end of the scam and ignore how it really started.

How did Aaron Dare get the money to start with?  The Hinckle Brewery  http://www.rentersguidealbany.com/index.cfm?page=details&listingid=70
and the Pastures
  http://www.rentersguidealbany.com/index.cfm?page=details&listingid=71
are NOT low income, they were and are prime rental properties.

 
"What? Me worry? " "whatmeworry.alfred@gmail.com"

Save $2 ... (none / 0) (#2)
by 1894 on Fri Nov 17, 2006 at 06:25:37 AM EST

FYI, if you have a library card you can go to the APL website and search the T-U archives for free. No need to pay the $2 per story.

hMMMM (none / 0) (#3)
by alfrednewman on Fri Nov 17, 2006 at 07:09:56 AM EST
No library card.

Can I borow yours, sell it DIA and then have you forclose to get it back.
"What? Me worry? " "whatmeworry.alfred@gmail.com"
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Who Helped Dare? | 3 comments (3 topical, 0 hidden)
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