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Indicted Weld developer missing

Rocky Mountain News

Published May 6, 2008 at 7:48 a.m.
Updated May 6, 2008 at 1:12 p.m.

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The FBI and Weld County Sheriff's Office are searching for a man they fear fled to Mexico to avoid standing trial for drafting phony loan documents and causing home foreclosures in a major mortgage fraud case in Greeley.

Mark Strodtman, 50, was facing a March indictment by a Weld County grand jury for allegedly conning homeowners into buying new homes they couldn't afford and then falsifying the loan application to secure mortgages.

The result was a rash of foreclosures and plummeting property values near the Gateway Lakes subdivision in southwest Greeley.

Weld County Undersheriff Margie Martinez said the office has enlisted the help of the FBI to track down Strodtman. He was supposed to turn himself in after the indictment.

Strodtman also has a pending application for a controversial housing subdivision near Grand Junction to construct 30 to 40 homes on 17 acres. The city will consider annexing the property, next to the Old Spanish Trail, next month.

The indictment against Strodtman included 11 counts of theft, 11 counts of forgery and one count of racketeering.

For related Daily Sentinel story, click here.

The Grand Junction Daily Sentinel and Greeley Tribune contributed to this report.

Comments

  • May 6, 2008

    8:53 a.m.

    Suggest removal

    Darling writes:

    What a devastating loss to those homeowners. Just goes to show - if a deal sounds too good, it is.

    I feel truly sorry for all those people who've lost their homes over this.

  • May 6, 2008

    9:58 a.m.

    Suggest removal

    blacksho89 writes:

    Outrider:
    I don't believe you.

  • May 6, 2008

    10:30 a.m.

    Suggest removal

    holekeeper writes:

    This guy was the one who falsified the loan documents. If he had not done that the people would not be in this position. Not thier fault.

  • May 6, 2008

    12:30 p.m.

    Suggest removal

    4gColoNative writes:

    "You" also deserve as nice a vehicle as somebody making 10x what you do! How about an Escalade or a Lexus?! ... seem to be the vehicles of choice for the minimum wage earner.

    People living beyond their means deserve what happens to them when the bubble bursts! Whether they're at low income level or middle managers buying mcmansions and all the toys. NO sympathy.

  • May 6, 2008

    1:22 p.m.

    Suggest removal

    medina88 writes:

    I don't think anyone who has lost their home over these documents should be to blame. Sure maybe some of them didn't understand what they were getting into, but they trusted this idiot that ended up screwing them. There are so many Americans in the US that don't understand the fine print and are taken for a ride everyday. And it don't say in the article that these are all hispanics. Even if some of them are Mexican, Strodtman knew exactly what he was doing and took advantage of it. People are homeless because of him. He talked them in to something they knew nothing about..they trusted him. What a creep.

  • May 6, 2008

    1:35 p.m.

    Suggest removal

    Darling writes:

    This man falsified loan paperwork, true, to qualify these homeowners for the bank loan.

    However, he also had the homeowners write their checks to him with the idea that he would pay the bank, but he never sent a check to the bank. This is a nightmare for ANYONE who is making their payments to a mortgage broker to buy their home (Countrywide anyone? - to name just one).

    The larger issue is that these people are homeless because they made their payments to a mortgage broker who neglected to pay their bank for their home.

  • May 6, 2008

    1:50 p.m.

    Suggest removal

    vudumom writes:

    I know most people don't like attorney's but in Maryland home closings and re-fi's are handled by attorney's. The buyer has their's and the seller or bank officer or whoever has their's. Not much problems to deal with because an attorney can lose their license if they fail to fully represent and explain to their client what every paper means. He also goes over all closing documents to make sure the numbers are correct and handles all closing funds to be disbursed. The fee for the attorney back in the 80's was $250. When we sold our home in 1998 the fee was $300 for the attorney. People spend that much on a home inspector. Why not a real estate attorney to look after your interest's or if you don't understand what your signing?

  • May 6, 2008

    5:01 p.m.

    Suggest removal

    Ashley writes:

    How about a little human compassion and decency? Or has that fallen out of fashion as xenophobia and close-mindedness has risen? Gimme a break. This man is a criminial and a thief, and these people were victims. Is it a crime to be trusting anymore? You people are disgusting.

  • May 6, 2008

    5:27 p.m.

    Suggest removal

    Alive writes:

    Mexico. Hiding US criminals for 150 years. Vacation Mexico!

  • May 6, 2008

    5:35 p.m.

    Suggest removal

    dlwr writes:

    mortage loans are not written to be understandable by an average person. they are written so that lenders make money. but in this
    case it is straight up fraud. the loan documents wouldn't have been something that any indivdiual could have figured out. that's why there were so many victims.

  • May 6, 2008

    6:53 p.m.

    Suggest removal

    happymike44 writes:

    Well if he is not in mexico I bet the people he conned are looking for him right now.When and if they catch up with him.Wil make for a very interesting for the scumbag.But then again we do not know someone has already to take a dirt nap.If this is what happened to bad for him.Remember what the bible said you reap what you sow.My feeling is I would persue a civil suit against him till the world came to a end to get my money back.

  • May 6, 2008

    9:28 p.m.

    Suggest removal

    medina88 writes:

    I'll have to agree with the american dream being a nightmare. People come here from other countries thinking that this is the best place to be and all their problems will go away. boy do they get a wake up call when they get here. Getting ahead in this country is hard work. No more stay at home mom's to give these kids the attension they need so they don't turn to crime. Mom's and dad's are working over time and two jobs just to make ends meet. It sad that some jerk will just come along and take it all away from you. Everything you worked for. Creep!!!

    I commned those who can honestly work 9-5 and make enough money to make it comfortably. You are some of the few. Congrats.

  • May 7, 2008

    6:55 a.m.

    Suggest removal

    CaptainObvious writes:

    I heard Mexico is nice this time of year. And, given the number of Mexicans here, it's probably not too crowded.

  • May 8, 2008

    5:47 p.m.

    Suggest removal

    crashbandit writes:

    WATCH OUT GRAND JUNCTION! This guy is a con artist!

  • May 8, 2008

    8:54 p.m.

    Suggest removal

    crashbandit writes:

    I know there is a lot of people homeless because of this guy but on the bright side the crime has gone down in our neighborhood when these families moved out!