Tuesday, July 3, 2012

Why would a Savvy Wall Street Trader (Marin) Take Out an Interest Only Loan With A Balloon Payment at nine Percent Interest Rate in 2008?


























"Here's the unvarnished version from the horse's mouth," Marin told New Times in the living room of his other home, a more humble place in Gilbert.

He spoke directly, measuring each word like the Wall Street trader and attorney he once was, maintaining eye contact even when he got weepy.


"One, you don't set fire to something that you're in and then go trap yourself upstairs to make a more dramatic exit," he said of the July 5 blaze. "The second thing, if you bore into my finances, this was the worst thing that could have happened to me. Not only did I not have any incentive personally, I totally had a counter-incentive. The Phoenix Fire Department people will figure out what they figure out."
Unfortunately for Marin, what arson investigators say they have figured out is this:
Michael J. Marin "committed arson of an occupied structure by starting multiple fires inside his home. Michael was the only person home at the time of this fire and escaped using a portable ladder from the second-story balcony while wearing a diving mask, buoyancy compensator, and breathing air from a scuba tank."
The report by fire Captain Jeff Peabodycontinues, "The scuba setup was in a ready state when he found it next to his portable ladder stored in his upstairs master bedroom closet. During my investigation, I discovered multiple and separate points of origin [of the fire], located both downstairs and upstairs."
Marin is facing a charge of committing arson of an occupied (by him) structure, the equivalent under Arizona law to that of second-degree murder.
If convicted, the Yale Law School-educated attorney, ex-Wall Street trader, high-level executive in Japan, artist and art collector, author, erstwhile philanthropist, small-plane pilot, devotee of the annual Burning Man Festival (irony noted) in Idaho, and, yes, scuba diver could be sent to prison for years.
(Yale and Wall Street Backlash)

"There's no doubt to me they'll find out the cause of that fire, and I assure you that Mike will be cleared of it," said Jana Bru, a longtime girlfriend and ex-business associate of Marin's who lives in Chandler.


One of his four children, 22-year-old Schuyler, chuckled at the very notion of his father as an arsonist.
"If he ever was going to do something like that, which he wouldn't do, he would have figured out how to be out of the country or whatever," said Schuyler, a U.S. Marine who served a tour of duty in Iraq.
(That does make sense, but the first rule of crime committing is to DIY so there are no witnesses.)
He said shortly before his arrest that the stock market tumble, along with poor investments, had taken a huge chunk out of his portfolio.
Marin added that "feeding the kitty month after month" — staggering $17,000-plus interest-only payments on the Biltmore home to private moneylenders
(maybe it was the private moneylenders)
plus a mortgage at the Gilbert residence — was eating him alive financially.
And looming over Marin like an ugly storm cloud was a $2.3 million balloon mortgage payment on the Biltmore home, due in the coming month.



If Marin doesn't pay up, his lenders could foreclose on the property or offer to renegotiate the terms for a higher interest-only rate than the 9 percent he already was paying.
(That's a shitty interest rate for a millionaire! I thought he was smart.)
But Marin told investigators last month that he has less than $100,000 in liquid assets. That's not a lot for someone who purchased original Picasso etchings a decade ago and, more important, bought the Biltmore house for $2.55 million on September 4, 2008.
(Not smart.)
Whatever his net worth, Marin clearly was running out of money — and fast — at the time of the fire.
(He's probably not the only one. Will there be a Heathers like rash of Millionaire Suicides? Like during the Crash before the depression? Why is it so hard to feel bad for these guys? Meanwhile, normal struggling people have struggled all their lives and manage to deal with it. It just goes to show you what they really think of us. When faced with our lives, they'd rather be dead.)

"To hammer that point home about my finances," Marin told New Times, "the biggest thing in front of me was the one-year, interest-only balloon payment. I had a $2.3 million bill to pay. So I refinance or sell or I am totally screwed. If I were to burn it, that's slitting my own throat. I lose everything."

But Marin insisted that, at the time of the fire, he wasn't planning to sell. Refinancing or just walking away from the home — taking a $450,000 hit (down payment and what he'd already paid in interest) and trying to pull himself together financially — seemed his immediate options.
Scott Gould, a veteran Valley moneylender who structured the Biltmore deal on behalf of a group of private lenders, says it is common to renegotiate terms with financially strapped borrowers.
"We wouldn't have wanted to kick him out," Gould says shortly before Marin's arrest. "We had gotten his monthly [interest] payment on time since September. There was no reason not to work with him."

As for the State Farm insurance policy on the house, land, and contents, the lender, not Marin, stood to collect more than $2 million for the damage to the structure and the home's "built-ins" — entertainment centers, wall cabinets, and other pre-existing items.

Michael Marin could have collected up to $1 million in insurance for the contents. But surprisingly, he didn't have nearly that much of value at 71 Biltmore Estates when it burned.
He told New Times that he had moved over a computer, furniture, a new bed, some of his own artwork, and other odds and ends.
(Moving's a bitch.)
Fire investigators found the odds and ends in packing boxes lined up on the ground floor near the home's spiral staircase. Telling to investigators, several of those boxes were filled with junk items whose price tags — usually $3.99 or less — were still attached.
The investigators also found 28 charred Valley phone books in the rubble, all of them in two piles near the packing boxes. The arson report suggests that Marin had attempted to use the phone books as kindling.
(Why didn't the house have a sprinkler system? 28 phone books? Where do you GET 28 phone books?)
What wasn't at 71 Biltmore Estates when it went up in flames also piqued the curiosity of investigators.
Safely back at Mike Marin's home in Gilbert were his beloved blue-and-gold macaw Sunshine and a pretty cat he has been caring for. Also in Gilbert were his precious works of art, including the Picassos and a beautiful rubbing from the ancient Cambodian temple ofAngkor Wat.
(It sounds like Mike got involved with the wrong crowd and then he couldn't tell the truth in order to defend himself, so he took poison. If he took poison, where did he get that?)

A defense attorney could pose this question: If Marin was committing arson, why wouldn't he at least burn a valuable piece of art for the insurance?

His parents were members of the Church of Jesus Christ of Latter-day Saints, and Marin dutifully went on his two-year mission in 1978.
He was sent to Japan, a baby-faced 19-year-old who, years later, would sell derivative securities to the Japanese for a living. (He says he no longer considers himself of the Mormon faith.)
After returning home from his mission, Marin graduated from Brigham Young Universitywith honors. He then enrolled at Yale Law School, where he excelled academically and was an editor of the Yale Law Review.
Marin's then-wife Tammy gave birth to the second of their four children while he was in law school. Soon after that, he was a fledgling attorney at a large New York firm specializing in transactional law.
(So how did he get such a bad deal on his house? Even the most naive buyer knows not to get an interest only loan with balloon payments. There must be more to this story.)
"I had an art, music, and literature background," he says, "but here I was on Wall Street developing cold-blooded, reptilian trading instincts."
From the mid-1980s until the late-1990s, his ride included stints as head of the legal department for Salomon Brothers in Asia (after the 1991 bond-trading scandal), head of derivative finance for Lehman Brothers in Asia, and a director of Merrill Lynch in Tokyo.
During that time, he self-published a book, Fluctuations, which he described as "the inside story of how Wall Street eff'd Asia without a kiss."
In it, Marin warns potential litigants: "The bulk of my personal net worth is now safely hidden in a geometrically complex series of offshore trusts that would make the Clinton Whitewater arrangements seem simple by comparison."
(So he probably wasn't paying any taxes. Jerk.)
But Marin needn't have worried about getting sued. Unlike Michael Lewis, whose classicLiar's Poker covers much of the same subject matter and time frame as Fluctuations — and did name names — Marin instead gave pseudonyms to his main antagonists, occasionally in a clever way.
Marin's book also provides insight to his personal life. In one poignant passage, he describes how his wife divorced him, allegedly unexpectedly, in 1993 after she and the couple's four young children had moved to Arizona. Marin writes (and his son Schuyler confirms) that he subsequently traveled back and forth from Japan once a month to spend time with his kids.
He notes in the book, "You know you're in trouble when you come to the realization that all you've ever really known — all you've ever really been capable of feeling — is abandonment, rejection, betrayal, pain, shame, guilt, and depression."
Marin's last job in the finance industry was with Lehman Brothers, which fired him in 1997 after, according to what he says, was a massive changing of the guard.
Michael Marin says he first viewed the Biltmore Estates home as "pure math," a business deal.

He claims it was a straight-up investment and that he originally planned to try to sell it quickly at a tidy profit after buying it for $2.55 million in September 2004.

The home at 71 Biltmore Estates Drive is a story itself, tucked amid the small enclave of other multimillion-dollar residences near 24th Street and Missouri Avenue.
(exclusive gated community)

The unique home "had to have been built by a very egotistical male," says Jana Bru, Marin's longtime girlfriend. Actually, it was an architectural fantasy of Bob Lutz, a well-heeled business executive.
When it was finished in the late 1980s, the home was the ultimate bachelor pad. It had a distinct hipster feel: expansive movie room, sauna and Jacuzzi, manicured putting green, and a master bedroom overlooking the Biltmore (Adobe) Golf Course and with a walk-in closet big enough to sleep in comfortably.

The Lutzes, who lived there for nearly two decades, became renowned for throwing the best parties around.

The couple decided to put it on the market in late 2006, just as housing prices were about to spiral downward.
Their asking price was $4 million, and county records show that East Valley real estate broker Greg Bensen bought it from the Lutzes in May 2007 for $2.8 million.
(Here we go)






Bensen also inked an interest-only, balloon-mortgage deal with the same private lenders with whom Marin did business at the same location in September 2008.
Greg Bensen's name is important in this narrative: He and Marin were partners in the early 2000s in a real estate/financial firm called Once Again, and county records also show several personal financial transactions between the two in recent years.


Mcallen, TXMugica Diego
(REGISTERED BUSINESS OWNER)

  • Delta Gamma Construction Properties Llc
  • Delta Gamma Construction & Properties Llc
  • Delta Gamma Construction & Properties Llc
  • Delta Gamma Construction & Properties Llc
  • Gonzalez Medical Equipment
  • Outdoor Walls Inc
  • 123 Homes Inc
  • Dimu Enterprises Inc
  • Outdoor Walls Inc
  • Outdoor Walls Inc
  • 3-2-1 Homes
  • Monarch Import And Export Co Llc
  • Monarch Import And Export Co Llc
  • Outdoor Walls Inc
  • Outdoor Walls Inc
  • American Compass Builders Llc
  • Rural Texas Homes Llc
  • Monarch Import And Export Co Llc




2.
Once Llc

AvailableTempe, AZGregory Bensen
(AGENT)
  • Home At Once Llc
Little rock, AR

  • Comstock Bio-fuels Inc
  • Metropolitan Title Closing Services Inc
  • Metropolitan Title Closing Services Inc
  • Metropolitan Title Company Inc
  • Metropolitan Title Company Inc
  • Metropolitan Title Company Inc
  • Gz-gkb Development Group Llc
  • 1013 Investments Llc
  • I C Soccer Club Inc
  • Albany Hills Holding Llc
  • Ride Leasing Associates Llc
  • Miller Spectacular Shows Inc
  • Stephens Insurance Llc
  • Joneseduction Llc
  • Sobba Holdings Llc
  • Eah Sleepy Hollow Development Gp Llc
  • Eah Sleepy Hollow Development Limited Partnership
  • Edgewater Terry Lane Llc
  • Terry Lane Limited Partnership













4.Once Llc

AvailableHollywood, FLJose Bensoussan
(MANAGER) 
Eric Derei
(MANAGER)
  • Family Clinic Holding Company Inc
  • A To Z Real Estate Investment Inc
  • Jad Enterprises Usa Llc
  • Deby Debo Llc
  • Tonal Llc
  • Angeloni Miami Motors Llc
  • Isramart Llc
  • Kosherland Llc
  • Stargate Pc Incorporated
  • Trj Development Group Llc
  • Delarue Holding Llc
  • French Designs International Llc
  • Gj Collins Invest Llc
  • J Family Llc
  • 1550 Meridian 55 Llc
  • Holistic Wellness Partners Llc
  • Samda Llc
  • Coffee Roasters International Inc
  • Assist 2sell Metro Team Realt

5.
Once Llc

AvailableLas vegas, NV
Tempe, AZ
Gregory Bensen
(MEMBER) 
Gregory Bensen
(MANAGER) 
Gregory Bensen
(STATUTORY AGENT)
  • Vici
  • Veni
  • Vidi
  • Once Mortgage Llc
  • Home At Once, Llc

PersonPhoneAddressCity, StatePossible Employers / Business Afilliations
1.Gregory Bensen


Tempe, AZ
Once Llc
Home At Once, Llc
Once Llc
2.Gregory Dr Bensen
Available
Chandler, AZ
Tempe, AZ
Phoenix, AZ
Las Vegas, NV
Gilbert, AZ
Los Angeles, CA
Beverly Hills, CA
Organization Of New Credit Experience Inc
Organization Of New Credit Experience Inc
Organization Of New Credit Experience Inc
3.Gregory Bensen


Tempe, AZ
Organization Of New Credit Experience Inc
4.Gregory Bensen


Tempe, AZ
Once Llc
Once Llc

Bensen also inked an interest-only, balloon-mortgage deal with the same private lenders with whom Marin did business at the same location in September 2008.
Greg Bensen's name is important in this narrative: He and Marin were partners in the early 2000s in a real estate/financial firm called Once Again, and county records also show several personal financial transactions between the two in recent years.
In 2007 and into early 2008, Bensen apparently was living at his cool, new Biltmore pad. But in April 2008, the private lenders filed foreclosure proceedings against him because he had not been current with his substantial monthly interest payments.

An auction that August put the home back in the lenders' hands for a price of $2.5 million, and their point-man, Scott Gould, looked for a buyer by taping informational fliers to front doors around the neighborhood.
(?)

ome had come in at $3.5 million. But he was "willing to sell this home at a bargain price of $2.55 million. I can do short-term financing for the first buyer that can come in with $200,000 down."
His rationale was sound: August 2008 was a dismal time in the Valley housing market, even for luxury sellers.
The Web site PhoenixMarketTrends.com wrote at the time, "There is simply a tremendous amount of inventory out there, giving the few [luxury] buyers an amazing amount of leverage and choice . . . Prices for many homes are dropping tremendously. Prices in areas such as Paradise Valley are becoming affordable. It's a buyer's market."
That lends credence to what longtime Valley agent Russell Shaw tells New Times about the importance (or lack thereof) of appraisals involving high-end homes.
"You can't really use appraisals in areas such as the Biltmore Estates as the gospel," Shaw says, speaking generally, "because there just aren't many sales there to draw a legitimate comparison from. It all depends on how badly a buyer wants something and how badly a seller wants to sell."
Scott Gould says he quickly identified two potential buyers willing to buy the house for $2.55 million. One was Michael Marin, who says his foreclosed pal Greg Bensen told him about the deal.
"It came together quickly," Marin says. "The market had fallen as low as it was going to go, I thought, and this was a screaming deal. My idea was to capture some equity, sell it quickly, and move along. It was all good."
(So he was just really stupid? I can never figure this out: dumb, or faking it?)
On September 4, 2008, Maricopa County recorded two documents concerning the property at 71 Biltmore Estates.
The first was Michael Marin's $2.3 million balloon-payment deal (plus about $200,000 in interest over a year's time) with the private lenders.
The second was a curious financial arrangement between Marin and Biltmore Estates Inc., a firm registered with the Nevada Corporation Commission.
sinesses
1.Biltmore Estates, Inc

Available
Chas R Byrd
(INCORPORATORS)
Virginia S Byrd
(INCORPORATORS)
Paul H Goodson
(INCORPORATORS)

2.Biltmore Estates, Inc

AvailableMiami, FLSusan Lkahn Drody
(DIRECTOR) 
S Lawrence Kahn
(DIRECTOR)
  • Kahn Investments, Llc
  • Bhsf Real Estate Foundation, Inc
  • Lowell At Farmington Estates, Inc
  • Oakmont At The Fountains, Inc
  • Marbella Cove At Waterstone, Inc
3.Biltmore Estates, Inc

AvailableBeverly hills, CA
Los angeles, CA
Janice A Lazarof
(REGISTERED AGENT) 
Barry H Taper
(PRESIDENT)
  • Site Development Corporation
  • Biltmore Management, Inc

Marin promised to repay $950,000 to the entity and listed his new home as collateral in second position after the primary lenders got their $2.3 million. Biltmore Estates Inc. had nothing to do with Marin's private lenders — it was a completely separate deal.
The $950,000 "loan" — if that's what it was — raised the official sales price of Marin's home (with the $250,000 down payment) in the county Assessor's Office and in other real estate documents to $3.5 million, which was far more than what he actually paid for it.
(so he committed mortgage fraud, right?)

tives
1.Jana Marie Bru
54AvailableAvailableChandler, AZ
Gilbert, AZ
Tempe, AZ
Mesa, AZ
Phoenix, AZ
Fred F Bruggeman (Age 73)
Pamela N Bruggeman (Age 66)

Possible Roommates / Associates:
Jim Bru
But just a month later, in October 2008, Jana Bru — listed as vice president of Biltmore Estates Inc. — signed a notarized document that forgave the $950,000 debt.
Bru, Marin's girlfriend, says she is a longtime friend of Greg Bensen's. The latter is the wheeler-dealer who had lost the Biltmore house to foreclosure. Also, the president of Biltmore Estates Inc. turned out to be Bensen, who is now in parts unknown.

2.
Gregory Bensen


Las Vegas, NV
Americas Relocation Company
Americas Relocation Company
Americas Relocation Company
Americas Relocation Company
Americas Relocation Company
Americas Relocation Company
(He's going to be tough to find. IMO.)
So why would Mike Marin have signed nearly a $1 million promissory note to Bensen's firm at the same time he inked a potentially risky $2.55 million deal on a home that Bensen just had lost to foreclosure?
One answer is that the paper deal between Marin and Bensen (no money apparently changed hands) made it seem as if the Biltmore home had sold for $3.5 million ($2.3 million owed to Gould's group, the $250,000 down payment, and the artificial, but legally documented, $950,000 "loan").
The financial machinations came into play early this year, when Michael Marin joined forces with a East Valley children's crisis center in an effort to sell his new home, a place that already was threatening to become a financial albatross around his neck.

Recent news stories around the nation have told how more than a few people in these troubled economic times try to sell their homes to non-profits (usually charities).
In turn, the non-profits seek to raffle off the house after selling enough tickets to make the deal work. But if the non-profit cannot sell enough tickets to buy the home and make money, the raffle is canceled and the ticket money refunded.
Gambling regulations in most states, including Arizona, don't allow private raffles unless the homeowners become partners with a non-profit. Such homeowners are not supposed to make more money in the deal than the appraised value of their home (which, for better or worse, may not be the actual market value).
"I knew about the great work of the Child Crisis Center in Mesa," he says, "and that they had lost a bunch of their funding from the state [of Arizona] in the budget crunch.
ciated Businesses
1.Child Crisis Center

AvailableMesa, AZ
Phoenix, AZ
Scottsdale, AZ
Tempe, AZ
Paula Adkins
(SECRETARY) 
Donald O Fuller
(STATUTORY AGENT) 
Dennis Kavanaugh
(SECRETARY) 
Dennis Kavanaugh
(VICE PRESIDENT) 
Kent Nicholas
(PRESIDENT / CEO) 
Kent Nicholas
(STATUTORY AGENT) 
Laura Palmer Noone
(SECRETARY) 
Diane Rutherford
(PRESIDENT / CEO) 
Philip R Shumway
(PRESIDENT) 
Pat Temple
(SECRETARY)
  • Vine Investments, Inc
  • Kennedy Restaurant & Bar Management, Inc
  • Jkvk Restaurant Enterprises, Inc
  • 6110 Corp, Inc
  • Mcgillips Enterprises, Inc
  • Child Crisis Center Foundation

4.
Child Crisis Center Of El Paso Foundation

AvailableEl paso, TXRodrigo Flores
(TREASURER) 
James Johnson
(DIRECTOR) 
Victor Nevarez
(PRESIDENT) 
Mary Russell
(DIRECTOR) 
Mary Russell
(REGISTERED AGENT) 
Elizabeth Smith
(SECRETARY) 
Alfonso V Velarde
(DIRECTOR)
  • El Paso Archaeological Society, Inc
  • Sunturians, Inc
  • Child Crisis Center Of El Paso
  • Texas Bankers Foundation
  • Cfs Financial Corporation



Marin's rules dictated that he would sell his home to the Crisis Center only after 176,000 tickets were sold at $25 per ticket. That added up to $4 million worth of tickets, a tall order.
That would have left about $2.7 million for Marin to divvy up with the raffle winners after he paid off his short-sale lenders the $2.3 million he owed them:
"The Owner further reserves the right to sell the Arizona Dream House, if in consultation with the [Crisis Center], it does appear likely that ticket sales will reach 176,000 prior to the expiration of the Entry Period."
In other words, Marin was hedging his bets from the start and wanted — make that needed — another plan in case the raffle failed.
Marin says he planned to pitch himself to the news media as a rich businessman-cum-artist-cum-mountain-climber with a heart for "kids."
He had been training hard for a two-month climbing expedition he planned to take with a mostly Russian team in Nepal, the goal being to reach the summit of Mount Everest sometime in early May.



"I understand local TV — if it bleeds, it leads," Marin says. "But this was a feel-good story with a nice hook: a major-league mountain climber working closely with a charity by putting up his house in the Biltmore for $25."
Marin claims he was staying at the Biltmore home "about 25 percent" of the time in the weeks and months before he left the States for Nepal. He hosted a memorable Super Bowl party there during that stretch, says his son, Schuyler.
...a neighbor later told investigators that he never knew anyone was living there after Greg Bensen lost the house to foreclosure in the spring of 2008.

Though the raffle seemed good to go, the Arizona Department of Gaming had expressed serious reservations to the Children's Crisis Center as early as March 24.
Christine Scarpati, who is the center's chief executive officer, wrote in a June 15 letter to the state agency that she had tried to answer those concerns but didn't get an official response until late April.
"During this time," Scarpati wrote to Gaming Deputy Director Rudy Casillas, "we lost the opportunity of national exposure as two of the major networks were geared up and ready to follow Mr. Marin as he summited Mount Everest, which would have ensured the success of the [raffle]."
She reiterated that her board of directors and the center's lawyers believed the raffle would have been legal.
But Casillas concluded that the raffle was illegal in that "the Child Crisis Center, Michael Marin, and the person who wins the home could all potentially knowingly benefit from gambling."


Marin says he knew he was going to have to do "one of two things: refinance or sell. The mortgage eats you alive. I could have lost a lot of sleep over it. The fire was the worst thing that could have possibly happened to me financially because it took away those two options. You can't refinance a piece of ash, and if you think there was going to be any insurance payout anytime in the next year, you're kidding yourself."
But Marin didn't put his home up for sale in the aftermath of the raffle disaster. To the contrary, he says, "There was a tipping point, and I started to spend more time there. It went to about 60 percent there and 40 percent in Gilbert. Finally — in June, I guess — I made my decision that I might as well live [in Biltmore Estates], and I started to move over there, piece by piece. I was up to my ears in packing boxes."
(This makes no sense.)
Marin says he moved over many of those boxes on the July 4 weekend. He says he spent the afternoon before the July 5 fire at Jana Bru's home in Chandler (she confirms this) eating pizza and hanging out.
He says he later drove across the Valley, alone, to the Biltmore house and watched a little television before retiring to the master bedroom on the second floor. He says he'd planned to hike nearby Camelback Mountain, as usual, the following morning.
Condensed but in context, here is what Mike Marin says happened next:
"The next thing I know is getting awakened by some faint, electronic beeping — beepbeep,beep — that I hear through my earplugs. That's what wakes me up. I immediately smell smoke. I hit the button to turn on the light above the bed. Smoke is pouring in from every crack.


"Being a guy, I don't hang things up. I throw on my shorts, T-shirt, shoes, and head for the door, which is the only way and leads down the spiral staircase.
(No wonder he didn't get a lot of takers on Match.com. "I'm a guy, so I'm a slob. Sue me." That's just insulting to guys, period.)

"I knew I had to make a 911 call, and I had to breathe through this [scuba] apparatus, I had to get the window open, and I had to deploy the ladder. The scuba worked fine if I put it on my back, though I had to bend down to breathe into it. Time kind of slows down for me when I get into these situations.
(These situations?)
At 4:46 a.m., the Phoenix Fire Department took a 911 call from a coughing man. The female 911 operator asks where he is. Sounding very calm, he gives her the address, saying it's his house.
(He hadn't much there that he cared about, so why freak out?)

The report of the initial scene-investigation notes that the two garbage cans at 71 Biltmore Estates — recycle and regular — were almost empty and connected by spider webs, "indicating that they have not been moved for a while."
(He's a guy, with money, so he probably eats out a lot. Even guys with no money are often money-wasters in situations such as this: Bachelorhood.))
That finding, among others, caused the investigators to pause, especially after Marin told them in an interview that he had been living there "70 percent" of the time.
Their first of two interviews with Marin took place July 7 at his home in Gilbert, two days after the fire. Marin described his mortgage, pointing out that he was insured with State Farm as a package deal from his lenders.
Marin told the investigators that he had bought the house for $3.5 million (not true), and owed $2.3 million (true).
(Lying to police-a felony?)
According to the investigative report, Marin said he had "hundreds of thousands [of dollars] in liquid assets," though in a second interview he apparently claimed to have only $100,000 or so in liquid assets.
(What about that book claiming his assets are all hidden?)
Marin's Picasso prints still were hanging on the dining-room wall at his Gilbert home at that point, and Captain Peabody asked him how much they were worth.
"Seven figures," the investigator quoted Marin as saying.
Remarkably, Marin claimed not to have insurance on his extremely valuable artwork, because could not afford it.
(Why not sell it? If it's a picture of something that grabs you so hard, shit, take a picture of it. Buy a print. What's the freaking difference? This is why normal people think rich people are idiots.)
He told the investigators that he had been planning on moving into the Biltmore house full time and gifting the Gilbert home to his children. How he was going to pay the $2.3 million he soon owed remained unclear.
On the day of the fire, Marin said, he had been working on his artwork on the ground floor of the Biltmore home, noting that he kept highly flammable cans of fiberglass resin, acetone, and peroxide on hand.
He also said the home had nagging and well-documented electrical problems. 
(Could that be true?)
Captain Peabody had started his "origin and cause" investigation soon after he arrived at the still-burning home shortly before 5 a.m. on July 5.
"This fire was in an advanced stage of burning when the first fire units arrived," he wrote later. "My observations of this size house and the amount of fire damage was suspicious, being that an occupant was home at the time."
Peabody wrote that he observed several points of possible origin (of the fire), and that "these low points of origin on the second floor and the severity of burn downstairs gave me reason to believe that this fire was intentionally set in different areas both downstairs and upstairs."
On July 9, Peabody and Willie Nelson started digging through the smoldering debris and ashes.
With them was Captain Fred Andes, who handles the fire department's chocolate Labrador, Sadie. The dog is trained to point out fire accelerants.
Fire officials say Sadie has proved more sensitive to the presence of accelerants than the crime laboratory itself.
The investigators noted the long line of boxes leading up the spiral staircase, the ones with junk in them. Some of the boxes had deeper charring on them than others, which to Peabody indicated "an attempted area of ignition."
Along that line of boxes in two locations, Peabody counted all the phone books. Some dated back to 2005.
Sadie picked up the scent of accelerants in several locations, including upstairs in the master bedroom.
In all, Peabody concluded, "I discovered four points of origin where Michael intentionally set fire to burn his house, and three additional areas of interest that showed inconsistent burn patterns with the surrounding area."
Michael Marin's girlfriend, Jana Bru, says longtime Phoenix attorney Richard Gierloff has agreed to represent him. Marin was still in custody as of noon on Tuesday, August 25.
(Why was he on match.com if he has a longtime girlfriend?)


ployers / Business Afilliations
1.Jana Bru
Available
Chandler, AZ
Suilema Enterprises
2.Jana Bru


Gilbert, AZ
Quo Vadis Corporation
3.Jana Marie Bru
Available
Chandler, AZ
Gilbert, AZ
Tempe, AZ
Mesa, AZ
Phoenix, AZ
Desiderata Llc
Desiderata Llc
Js Alternatives, Inc
Quo Vadis Corporation
Quo Vadis Corporation
Quo Vadis Corporation








yers / Business Afilliations
1.Michael James Marin
Available
Gilbert, AZ
Northbrook, IL
Mesa, AZ
New York, NY
Chicago, IL
Maplewood, NJ
Desiderata Llc
Macaw Publishing Llc
White Rolls Limousine Llc
Desiderata Llc
Desiderata Llc
Desiderata Llc
Macaw Publishing Llc
Macaw Publishing Llc
Quo Vadis Corporation
Quo Vadis Corporation
Quo Vadis Corporation
White Rolls Limousine Llc
White Rolls Limousine Llc

yers / Business Afilliations
1.Scott A Robert
Associated names:
Scott A Gould
Available
Phoenix, AZ
Scottsdale, AZ
Mesa, AZ
Paradise Vly, AZ
Hermosa Beach, CA
Paradise Valley, AZ
Sun Lakes, AZ
Tempe, AZ
Kyrene Manor Llc
2.Scott Gould
Available
Lake Havasu City, AZ
Phoenix, AZ
Salt Lake City, UT
Manzanillo Bay Vista, Limited Liability Company
3.Scott A Gould


Phoenix, AZ
Young Entrepreneur Program, Llc
Young Entrepreneur Program, Llc
4.Scott A Gould


Scottsdale, AZ
Madelines Meticulous Llc







Thanks for the suggestion earlier and now.i bought almost 50000 shares at lower level.want to hold for at least one year.expecting it will touch new high.



New Member
0 Follower
I was lucky bought 50000 at lower level.thanks for suggestion.my reading for this company is it will touch new high in this year.it is in totally intrigrated steel plant.it has induction furnace ,rolling mill , sponge iron ,power.came to know that their iron ore mines has also stared in madhya pradesh.waiting for the company to take over the alloy steel plant in Gujarat.
11.02 PM Feb 21st   |         |  Rated by


mployers / Business Afilliations
1.Jana Bru
Available
Chandler, AZ
Suilema Enterprises
2.Jana Bru


Gilbert, AZ
Quo Vadis Corporation
3.Jana Marie Bru
Available
Chandler, AZ
Gilbert, AZ
Tempe, AZ
Mesa, AZ
Phoenix, AZ
Desiderata Llc
Desiderata Llc
Js Alternatives, Inc
Quo Vadis Corporation
Quo Vadis Corporation
Quo Vadis Corporation



N/AN/AGulf Shores, AL

12.Jana Bru

N/AAvailableChandler, AZ

13.Jana Bru

N/AN/AScottsdale, AZ

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