I too have been scammed by Mike Cade and Prime Realtors Property Management.
I am holding a bad check for $5600 for several months. I have it up for collection at his bank but, his secretary or office person deposits the income daily. I figured there would be enough monies in there in the first week of the month to get it paid. It included my tenants security deposits. My maintance deposits, and rents for Jan 2010 and some of the Feb. rents.
I have determined that he takes the money out the day after it is deposited so no one can grab it. I knew the trust account was cleaned out as soon as a $1,458 check bounced from it. He probably has a savings account at that bank to cover any funds he takes out the next day to cover the bank in case any of the deposits bounce.
Out here in California, if you bounce several checks the bank cancels your account and other banks won’t take you if you have any outstanding checks you haven’t made good on.
I filed with TREC but they have a 90-120 day backlog. I figure he is setting up his retirement account and will live in style once he is out of jail at our expense. I went to the DA and they sent me to the Arlington police to file a complaint and if they find he has committed a crime they fill refer it back to the DA for prosecution.
I have been in touch with Dave D. but you can also put me on your list of “the screwed”
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HI, i called TREC today (july 30th) and they do NOT show any complaints. And, his license is still active.