Salt Lake City, UT / February 13, 2007 / Press Release / --  For a brief moment once a year the world comes together to watch the best the National Basketball Association has to offer.  That brief moment has come to be known as the NBA All-Star Weekend and this year is certain to be packed with talent from all over the world.  

Future Hall of Famers like Lebron James, Kobe Bryant, Dewayne Wade and many more will dazzle us with spectacular moves and plays that are certain to have us talking for weeks to come.  

But for some this All Star Weekend will serve as a welcome break from the mahogany wood of U.S. District Court in Atlanta Georgia.  A court room that has heard testimony from Pervis Ellison a former NBA Player and former Atlanta Falcons linebacker Jessie Tuggle who have given testimony to a jury weighing fraud, money-laundering and bribery charges against defendant Phil Hill and 11 other co-defendants. 

While it will be the job of Michael Jordan, Kobe Bryant, Dominique Wilkins, Vince Carter and Julius Erving to judge Saturday Nights All-Star slam dunk competition it will the job of a jury to decide whether former NBA Great Dominique Wilkins was involved in a mortgage fraud scheme that bilked lending institutions out of millions. 

According to testimony provided by Ellison in U.S. District Court Wilkins earned thousands of dollars by providing Phil Hill a real estate investor or people that Hill would recruit to buy real estate with short term loans.  Wilkins for his part would collect fees as high as $25,000.00 or about 16 percent per loan. 

Federal prosecutors claim that between 2001 and 2003 Hill and other defendants on trial conducted three massive mortgage fraud schemes - all of which involved numerous sales of metro Atlanta real estate, country club estates and luxury condominiums costing lenders tens of millions of dollars. 

Assistant U.S. Attorney Barbara E. Nelan identified Hill as the architect of those deals, which resulted in more than $80 million in foreclosures.  According to U.S. Attorney Nelan Hill's transactions is known as a classic "flipping" scheme. 

"In Utah and other parts of the country 'flipping' is illegal but  far too often flipping becomes the practiced norm," says Sheri Fitzpatrick CEO of Perfect Home Living.  "In most cases the property is purchased from a seller and then quickly resold at an artificially inflated price to a middleman or straw buyer.  The straw buyer mortgage is refinanced or resold with the profits split amongst the conspirators," Fitzpatrick added.  

Ellison's testimony stated Wilkins during this and other transactions made money by providing down payments to people who were buying real estate from Hill.  Once the mortgage was secured and the property had been sold  Hill would repay Wilkins principle plus interest. 

In the matter involving Ellison, Wilkins claimed not to have enough money to cover a $150,000 down payment for an estate in the prestigious community of Buckhead for a buyer named Erma Fletcher.  Erma Fletcher was allegedly arranging to purchase the property from Hill. 

After meeting with Hill, Ellison was told by Hill that he had buyers and mortgage companies but that a lot of the buyers did not have he means for a down payment.  That's when according to statements Wilkins became involved. 

Ellison was repeatedly assured by Hill that this was a routine transaction and that he [Ellison] would get his money back as soon as the sale closed. Gaining confidence and trust in the people involved with the transaction Ellison toured the proposed property located at 3575 Paces Valley Road.  Upon inspection Ellison was told by Hill the property was valued at $3.3 million. 

Despite additional concerns Ellison gave Hill the check for $150,000 as a loan to Wilkins for the property.  Within the week Hill explained to Ellison there had been complications with the transaction and that an additional $150,000 would be required.  Ellison was assured by Hill that within 30 days he would get all of his money back.

To give Ellison confidence in the transaction, Hill had Ellison sign documents that were to ensure the safety and soundness of Ellison's investment.  Ellison later discovered that the documents Hill had him initial were documents showing Ellison's $300,000 as "earnest money" to be applied to the purchase price of the home.  A home Ellison said he didn't intend to the buy. 

According to the indictment Hill funneled at least $150,000 of Ellison's money into another real estate deal that Ellison did not authorize.  To date Ellison has not received any of his loaned money back from Hill.   

About Perfect Home Living 

Perfect Home Living is a nationally recognized leader that assists in implementing programs and providing training to financial lenders as well as educating consumers and licensed professionals to red flags within today's  real estate market.   For more information or to request assistance please visit us online at:  http://www.PerfectHomeLiving.com