Witnesses admit bending rules to help fraud suspect

Trial continues for Maurice Goring, indicted in alleged real-estate scam.

By PATRICK MALONE
THE PUEBLO CHIEFTAIN

Malleable mortgage professionals who should have been fail-safes in the process admitted they bent the rules to accommodate a prolific client who's now on trial for fraud.

When Maurice Goring asked a real estate closer to notarize unsigned documents, she did it more than once, she confessed. When Goring gave an appraiser a target amount for properties he was considering buying, the appraiser acquiesced, he said.

“I knew it wasn't right. You knew it wasn't right,” Denise Tucci testified Wednesday under cross-examination by Goring.

Tucci formerly worked as a closer at Land Title of Pueblo, where she processed between 10 and 20 home sales per month for Goring during a 2 year span. She admitted she notarized eight to 10 documents for Goring without the signor present. At times, she'd never even met the signor, although as a notary public she's required to witness signatures before stamping documents with her seal.

Tucci said she knew better, but thought she was helping Goring's family by engaging in the lax practice.

Goring, 41, was indicted by a Pueblo grand jury on charges of theft, fraud and forgery for allegedly violating the Colorado Organized Crime Act. He is acting as his own lawyer. Goring opted for a court trial, leaving the decision of whether he is guilty or innocent in the hands of District Judge Rosalie Vigna rather than a jury.

The Colorado Real Estate Commission revoked Goring's real estate broker's license in January because he failed to report his indictment.

Tucci testified that Goring did an incredible volume of business with the title company that employed her. He kept gobbling up properties until the mortgage payments for them added up to $100,000 a month.

“I didn't know how he slept at night,” Tucci said. “Maurice's deals were a daily thing for us.”

She said Goring told her he hoped to retire by age 40 and take care of his extended family financially.

On Tuesday, former appraiser Alvin Jack Woolford of Colorado Springs testified that he manipulated appraisals to meet target amounts set by Goring and others, in part by developing appraisals by comparing the properties he inspected with inappropriate properties in order to elevate loan amounts.

Ivor Hill, an appraiser brought in as an expert witness for the prosecution, testified that Woolford's actions were intentional, and done at Goring's behest.

“It was not just careless,” Hill said under cross-examination by Goring. “These comparables were chosen to meet the figures given by the broker, sir, and I believe that was you.”

Hill chided Woolford for acting “as an advocate, not as an independent appraiser.”

Hill said the problem with appraisers “hitting a mark” set by lenders or others is widespread.

“That has been a major problem in this state for far too long,” Hill said.

Goring is accused of enlisting acquaintances with clean credit histories to serve as the listed owners of properties he managed, then allowing the properties to lapse into foreclosure, ruining the registered owners' credit ratings.

Bruce Kaiserman, a vice-president at Credit Suisse Global, a company that financed some of the home loans for the properties Goring managed, testified by phone Wednesday from his New York office.

Kaiserman said if the lender had been provided truthful information about some of the registered owners, including their annual incomes, the company would have been unlikely to finance the property purchases.

“It's clear, unambiguous,” Kaiserman said. “We would not make that loan.”

Kaiserman also testified that no mortgage payments were made on three of the homes under Goring's management that were financed by the company.

Testimony resumes today.