Update: A ruling for the bank went against the owners of the “non-profit” school and a management company at the same address who secured a second mortgage.
December 23, 2012
By: Bob Sikes – Scathing Purple Musings
Reports South Florida Business Journal reporter Brian Bandel:
The former home of a shuttered charter school is set for auction after Great Florida Bank won a $2.24 million foreclosure judgment.
The Miami-Dade County School Board voted in April to shut down the Balere Language Academy after parents complained of house parties with alcohol and distasteful promotions.
The Miami Lakes-based bank (Pink Sheets: GFLB) won the judgment against nonprofit Balere and loan guarantors Rocka Malik and Nagib Malik over a $1.5 million mortgage, plus interest and fees. It was also awarded judgment against Strategic Empowerment for Economic Development Corp., which provided a $1.2 million second mortgage.
The 19,304-square-foot school on six acres at 10875 Quail Roost Drive in southern Miami-Dade County is set for online auction Jan. 23.
I highlighted “nonprofit” as it reveals the big scam the charter school operators – and their accomplices in the Florida legislature – are pulling over on Floridians. A non-profit charter school is set up by the same folks who own the real estate management company. In this instance, both the school and the company which provided a second mortgage are located at the same address.
Yet Florida’s governor, it’s legislature and assuredly it’s new education commissioner want more charter schools. Hiding behind the benevolence of “choice,” a blind eye continues to be turned away from fraudulent use of taxpayer money. Nevermind the incalculable loss suffered by children and their families who bought into to the scam.
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