UNFINISHED BUSINESS: Homeowners claim builder took bank draws, deposits and never finished houses
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- เผยแพร่เมื่อ 30 มิ.ย. 2024
- We investigate why more than a dozen homes in two different Lincoln County, NC subdivisions were left unfinished, years after closing and building permits were issued. Our ‘Unfinished Business ‘ investigation uncovers the players and the companies connected to Mario Cotto.
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ATTY GENERAL NEEDS VOTED OUT OF OFFICE!! He doesn’t give 1 bucket worth of warm piss about his constituents
A.G. is a disgrace
AG should be investigated as an accomplice
One complaint wasn't enough, neither was 16,000. He's trash.
Attorney general deserves life imprisonment
You can vote out a republican but a Democrat is really difficult
You have the book thrown at you for stealing a Snicker from Walmart but others get to walk off with $150,000 of someone else's money and face no consequences. We have some backward laws in this country.
They only go after easy pickin’s
The message seems to be, If you're gonna steal, make it big. The Clinton's can show you how it's done.
Whats backwards? Don't steal.
That’s the Republican way😮
Now this is the comment
America needs more reporters like Jody
YT refuses to post comments
AG is a perfect example of what’s wrong with government today…
And WHO IS TO SAY. ...HES NOT PART OF THIS????????
the AG??????????????
how about the thief builder?????????????
If I said anymore on this subject youtube will ban me for another 24 hours, but I'll give you a hint and the corruption always seems to surround these people, and Kanye spoke about them. Nuff said
@@bryanpinto4051 the thief gets away when people refuse to prosecute them .
He sounds to have some interest in it@@marybourgeois5235
the bank that released the funds without an inspection is liable to all the homeowners. it's time the banks quit getting a free ride
Look again at the story the homeowner is responsible
@@fishydubsfishing6516 yeah it’s like these people really don’t watch for details at all.
@@fishydubsfishing6516it’s never the home owners fault when they get screwed by a crooked contractor.
@@irepairofpc31familykartrac51agreed. But, there is a lesson in this. Before handing over 6 figures on a home that isn’t built yet, verify they’re a licensed GC at the very least.
They got draws from banks with no inspections. They have liens and lawsuits from vendors. Sorry it's not her fault
Attorney General needs to subpoena bank records and do forensic accounting. Follow the money!
AG's too busy with his makeup.
True
This is a RICO case. The bank the builder the realestate ahent and the 2 contractors. They all need to go to jail ! Why arent the prosecuters doing something !
Just look at that man's toys around his house. We all know where the money went and it never came close to building those houses.
The big truck and ATVs and he has a lot of balls to be even talking to a reporter take away his toys and he won’t have anything.
Bet he has a Rolex and some hidden cash . He’s not trying to hide anything he is a walking duck . Surprised he didn’t have a sports car .
Screams insecurity.
The truck is obscene! Follow the money...
I noticed to the same thing. HIGH DOLLAR TOYS!!!!
Parmesan
Time to give Jody his own show. Been following Jody for years, he has earned it. Respect
Thanks for the props 👍🏻
Any time. You do great work for people in need
Couldn’t agree more, we need hard hitting investigative journalists like Jody to do a lot. But he’s only one man, he should at least have his own platform for a broader audience.
I have built 7 custom homes. My youngest son has his degree in building and construction. He has built two of our homes. Every land buyer should purchase the land and make sure there is a clear deed in hand. NEVER get a new construction loan unless you the homeowner has complete control over the money and all draws. Always check with your states licensing board to make sure that the person you hire has their general contractors license. Make sure that all materials are delivered to your homesite, and never allow a builder to communicate with your bank. Always have the builder send you a draw request and make sure what you are being billed has materials used on your property and the work has been performed. I would never sign a contract with a builder that gives you a one price fits all for building your house. Always sign a contract with a general contractor on a cost plus basis. I feel so bad for all of these people. It’s tough enough building a home but to have someone rob you is frightening. I think what Cotto did was take these peoples money to purchase new land to develop, and start the same scheme over. I also think the bank holds some responsibility for releasing funds without full inspections. The AG should have done a complete investigation and charged all the parties that were involved with this scam.
95% of ppl do not want to be involved and builders know it and abuse it. im finishing my current build end of this month. it took me months to find a builder who didnt just want a blank check and "they handle all". they hate me because their profit margins on this are low but they took the project because business was slow. its been a very hostile process. thats why im there whenever work is done. id literally park and sit there the whole damn time watching and talking to the actual ppl doing the work to make sure it isnt fucked up. yes i caught things contrary to agreed....... it started with the foundation and garage pad. i said rebar mesh. they come there and throw 1\2" rods at random.. im like wtf are you doing. you build the mesh and tie em together before you pour. they said thats what they were told (by my builder) to do. i tell them to fuck to town and get a truckload of rebar and do it right. i'll write them a check for it and pay them the extra labor... first overage of the project right off the bat! argued with the builder over it and got somewhat reimbursed elsewhere but point is, they tried to swindle from the get go. just pour concrete over clay and that shit will crack in a year... sigh.
@@johndonovan7018 when I built my house a few years ago it was very painless because I only chose a builder that had an established local reputation.
@@johndonovan7018I did the SAME!!! They didn't like a female breathing down their neck. I paid cash n owned the property. I worked hard for that money n watched like a hawk.
Other buyers ended up like these people, only my builder TOOK THEIR MONEY N RAN!!!!!
@@johndonovan7018 I am happy for you that you are at the end of your building. Yes, you have to have all eyes on everything that’s going on. Happy 4th 🇺🇸⭐️
Some states don't require a license to be a general contractor. That's why illegal immigrants have literally taken over the construction industry in the South!
That AG is crooked. Love to know his personal revenue streams
The bank's oversight is to blame too. They are ALL CROOKS.
Jody, take a look bud. Sure you'll be busy for a looong time.
Follow the money..I bet it flows directly to him as well!
This is really simple. Cotto is a crook. There’s not question. Te bank was at a minimum, complicit.
These people belong in prison.
Under it
Under the prison
Only given bread and water until those victims are made whole
@@courtneesdad lol , have u ate jail food? I have n KNOW I PREFER the bread n water. 🤷♂️🤣🤣
They do, but they just file BK and start over and rob people all over again.
Mario would be living in a tent and walking to work after his house and that ridiculous Ford SuperDuty became “useless”………absolutely disgusting!!!
He wouldn’t be able to walk if it was my house. I probably would be in jail.
Why is this man not in prison??
Corruption and incompetence.
Guy is lucky to be breathing.
Or in the ground.
Did this happen in Florida??? That would kinda explain why not in prison. This is common place in Florida. Fly by night contractors everywhere
Because no one enforces mortgage/housing fraud.
@@gregorylyon1004 North Carolina
Simply file a lien on all properties owned by by this POS builder and his wife and go after any reported income.
Also file a civil lawsuit against said builder and his wife.
I promise you that will only push them to file bankruptcy, which then makes them all but untouchable.
Tried this tactic when a similar scenario happened to us. The builder promptly filed bankruptcy and walked away, not paying us one red cent of what an arbitrater deemed he owed us $100,000. We had to hire another contractor to fiinsh the house out of our own pocket. Completely unfair and unethical. Just glad to say that our marriage survived intact under such stressful and lengthy situations.
@JR The 750000 judgment will be first in line, and it likely will never be paid, so everyone else is likely sick out of luck.
Have I ever gone through this, no. Do I intend to build a house and hire a contractor, no. Did I watched this whole report? Yes I did. Jody always does the best investigating reporting ever. I hope these people get justice.
They'll get justice but they'll never get their money which hurts more then Justice
as a builder of 30 years this is good AND bad for the honest guy contractors. Try to hire guys that have been used by your friends in the past THAT HAVE COMPLETED JOBS. The Cotto guy leaves all the good people in his thieving path. The poor Mr. Blackmon who probably needed work and got tangled up with this fraudster who cant even get a contractors license.
There’s over 200k just in his driveway. The missing money is in plain sight.
Great reporting. You thoroughly exposed the Cottos bad practices. They found loop holes and used it for financial gain. I hope the Cottos lose everything. That 700k hotel deal in Puerto Rico is the kicker. This guy, Mario and his wife, are crooks.
25:01 Well, just by looking at those two vehicles and the truck that's as tall as the house's first floor, I'm gonna guess that's where some of the money went.
And I bet this builder's name is not listed on any of it. Crooked business 101 no assets to be attached. Maybe time to have a PI check for holdings before signing, cause if they own nothing to very little it's a red flag.
@@Dilberts_Dogbert this info here is GOLDEN!!!!
The bank knows this was happening and kept doing loans, under despective measures.
Almost certainly not. Don’t attribute to malice that which can be explained by incompetence. It is certainly not in the banks interest to make shoddy home loans because they lose their collateral.
The loan officer is being paid under the table. She moved banks because she knew she would be investigated if she stayed
Were I ripped off for hundreds of thousands dollars, Jody wouldn't be able to interview the thief.....
He would need a shovel
Well, it looks like crime pays.
This is a racket.
Since that AG isn't going to do anything, the criminal acts continues, making him complicit.
How close is the governor to the AG? Has anyone tried to put pressure on governor to put pressure on the AG?
Jody you're doing what the AGs office should have done years ago... you gotta a hornets nest there in NC Bubba be careful... The AG should be charged .... seriously and the builder contractor and bank and real estate folks all need to be sued and criminally charged.
I was surprised when AG Stein told me that they couldn’t be bothered by a single complaint with anything reported to them by potential victims. My first thought was why they didn’t put in the legwork to go find the rest of the homeowners like I did.
@@JodyBarrInvestigates oh you know they catch every ballgame, picnic and golfing ect
This is depressingly impressive and complex criminal racket.
realestate isn't a racket?
Jeez...... Jody Barr is an amazing investigative Journalist and, sadly there's a never ending stories for him to report on. 😁👍
Texas misses him. I don't even live in NC
Sad this man Mario and his wife Joy are harming so many people and the AG does nothing. 😖
Great reporting. This is the role we need journalists to play.
Thanks, Shane. 👍🏻
Extremely disappointing to see people who are not held accountable for their actions.
One day Jody will have a tv series doing his INVESTIGATIVE REPORTING AND RESEARCH!! Top notch !!
Agreed he is the best. Been following Jody for years. Works hard for justice. Respect
Lion Real Estate…? I believe that is actually LYING Real Estate!!!
WTF... Vote that ATTY General out of office... Absolutely worthless...
Yeah he's almost as worthless as voting😮
Politicians are cut from the same cloth as Cotto.
Sounds like an inside fraud job at the bank. I built homes for many years and when a buyer used a construction loan I paid the bills, got a release of lien from the sub contractors and submitted papers to the bank. They would send an inspector to confirm that work was done before I ever got a dime. NC has very tough rules to get a builders license, but it looks like this clown isn't licensed so the court should kick his ass.
The fact he hid the papers from both GCs, says everything
Cotto must have a step ladder to get in that truck😂😂
We need to remove all these reporters that constantly carry water for a political party and replace them with real reporters like Jody! 🏆🇺🇲👍
After Obama repealed the SMITH-MUNDT ACT of 1948 in 2012 good luck finding any true journalists that would be hired to work on any MSM, Print, Rado and TV,or most of Social Media. It legalized the Govt including the Intel Agencies, Pentagon, State Department, political parties, politicians, FDA, CDC, DHS, HHS, etc. to use psychological operations-psyops-, propaganda, covert disinformation campaigns and lies on the American people. The CIA and Pentagon told Obama they needed to be able to use these Weapons against us to 'Affect National Behaviors, and National Will ' so that THEY can command in a credible way. Obama agreed to it and was inserted in the NDAA that year.
So now, every MSM channels and most of Social Media are used by Govt to condition, engineer the way we think, act, react.
Until we get a new SMITH-MUNDT ACT on the books, with TEETH, heavy penalties, that criminalizes any Govt employees for using these Weapons on us it's gong to get worse.
After WW2 our Govt made it ILLEGAL to use Psyops, Propaganda, Covert Disinformation Campaigns and Lies on the American people because Hitler used these Weapons in Germany to effectively turn a entire country against the Jewish people. It showed the effectiveness of these Weapons and back then, when our Govt actually represented the American people, they never wanted the US Govt to ever do this to us.
Between President Clinton's Telecommunication Act which allowed the now 5 or 6 Corporations to own all of our media, and Obama allowing the Fairness Doctrine to expire and Obama repealing the SMITH-MUNDT ACT, and now the censorship by the Govt of anyone that counters their narratives, news sources here in the US are nothing but Weapons used by the Govt against us.
We're in deep deep trouble.
Whatever happened to fraud and embezzlement being crimes?
Its now how business is done. Texas and Florida touts there states as being "Business Friendly". When you own money nothing can happen to you. That's why OJ never paid a dime to his victims family.
The Mafia is running the show?
They want your guns and your freedom of speech. Everything else is secondary. Makes sense, right? After all, lose the first two and the rest is in the bag.
@@TrevinoTrevino-wb4sq Who is they? My family are law enforcement and the last thing they will so id take my guns or rights. So who are you referring too?
@@kasarnfla they will follow orders of the supervisors or be fired
Honestly I don't believe this guy, they should take his house his vehicles and all his stuff and sell it and give the money to the people who have unfinished houses.
But steal a 30pk from a convenience store and law enforcement is all over it
I bet somebody at that bank and credit union was on the inside job getting kickbacks
Im surprised the this guy is still breathing, people have that much money missing. Typically end up another way
Unless it affects them personally or professionally, politicians don't care for those they say they want to protect!
Pure corruption…life in prison is desrved for all criminals
Attorney general, "sorry, I'm too busy to do my job".
I work for a bank that employes me to make sure the work done being told to the bank is finished before they can make a draw. Furthermore, why are people giving them this much cash?
The real crime is her filtered photo on that real estate sign compared to what she really looks like. That says everything about the dishonesty of the whole family.
AG states they need a larger body of complaints and then uses the large number of complaints as the reason they can’t follow up.
This is why no one trusts politicians.
Sat there with a str8 face and said the most ignorant ish, ever.
Keep up the great work exposing corruption Jody.
That district attorney guy seems shady as fk. Also, if cotto did this to me I promise you I'd be in prison right now.
LOCK MARIO COTTO UP 😡😡😡
You can't tell it's a good old boy system
Should be criminally charged for fraud.
This could have easily been solved if the home owners would have told the banks "Do not allow draws unless I sign off"....
Or.. people should not be expected to know every tiny little trick and loophole to not get scammed in a contract.
How would that have helped? She clearly stated she wired him 150k for the lot & down payment to begin building so I'm unsure how that would've been helpful? Genuinely asking ❤😅
Oh shucks I literally just got to that part in the video - my apologies! Lol❤
That was my same exact thought.
Guys, never build with a contractor until you see their audited financials and run a complete background check on them. So many of them are scum bags it's scary. They do exactly what Jody points out here and then just claim BK and start over. The guy who built our last house had 25 million in free cash, zero long term debt and had never claimed a BK in his life. I trusted him completely and he delivered. It cost me a grand or so to do my due diligence but saved me hundreds of thousands. I'm sorry this happens to people, but come on guys, you're spending HUGE money on these homes. Do your homework first PLEASE. Jody, you're awesome...sub'd from Chicago.
Who do you hire to do the investigation
@@MiteshDamania There are all kinds of investigation agencies out there that do background checks. Heck, you can even just pay a flat fee on the net and get a good look at someone's life through public records. Bankruptcies, criminal records, etc. Also, if a builder won't give you their audited financials, run Forest run. That's just me thoygh
Why cant the homeowners put leans on the business owners and sue them? Also the wife/ realtor was acting as a dual agent and even if it's allowed in some states, it is very frowned upon.
You can put liens. But they will just file for bankruptcy and start over. Thanks Trump
Amazing JOURNALISM Jody!!! This is the type of deep dive that simply can't be bought! Getting to the truth and taking it personally is the defining trait of a great investigative journalist!! Bravo to you and your team from South Louisiana.
One thing you NEVER want to see is Mr Barr and a camera crew walking up to your house 😂 😂 But if you do honest business, you probably won't get that type of visit from Mr Barr.
These types of guys make it hard on real contractors who worked incredibly hard through covid to keep building. It wasn't easy but it did happen, and I saw it firsthand.
@ Jody Barr Well done brother!
Next step would be recall AG and open investigation into bank that released the funds if work wasn't being completed. Builder should also be living in a shed and be forced to use a 1940s jalopy for transportation.
“You need to dive deeper but I won’t tell you cuz I’m full of shit”
Jody you are the only investigative reporter that actually works to help people with fraud, police, and local government!
*If you looked up synonyms for Mario Cotto in the dictionary, you’d find words like “thief”, “conman”, “scammer”, “misappropriation of funds”, “swindler”, “liar”, “immoral”, and “charlatan”.*
Jody let me give you a lil advise. When you are confronting someone that could possibly become hostile don’t put your hands in your pockets. That’s some great work for uncovering so much corruption!
Bring equipment from the second amendment?
@@trythis2821 absolutely
I can't stand construction scammers! 😠🤬
Mario's days are numbered..... Jody is like the Arkansas State Police and like them Jody will never stop until he gives you a TVI
Recently retired loan officer here. The bank absolutely should NOT have allowed a draw without an inspection. And the windows should have been reimbursed…not advanced. It’s the contractor’s responsibility to have enough working capital to operate without using the bank draws. In my opinion, a strong case can be made against the lending institution AND the individual lender involved.
Please keep on exposing this type of racket. As a victim of theses type of fraud , I can tell you that the state don’t do anything. I file complaint after complaint with the municipality, and the state , but didn’t anywhere.
i've worked a lot of construction. this sort of thing makes me absolutely livid.
Great works as always
This guy has a hooked up slingshot and pickup, something tells me these people are freaking shady as shit!
If it wasn't so pitiful it would be funny. They wouldn't respond so we gotta let them go. Imagine Josh Stein as Governor, South Carolina took all our money and now won't answer the phone sorry North Carolina
Jody Barr I absolutely love the work you do. Its journalist like you that still gives me some hope for main street media. I pray you get the help these people deserve. I find it appropriate that this lying cheating crook has a real estate group called "Lion". Cause that seems to be all he knows how to do. Get in touch with NC Lieutenant Governor. You might get somewhere with him.
Thank you, Jamie. That means a lot 👍🏻
I have no hope in mainstream media. Good old investigative journalism for me. Great work Jody! I didn’t want it to end. New subscriber.
@@moniquebaskett338 Dang, glad to hear that…high praise!
I think it is pretty obvious what kind of people the Cotto family and Mr. Mohanan are. It is unfortunate that the State can't be bothered to protect or bring justice to the victims. Unfortunately, the victims here apparently signed contracts that were written by the builder/seller and, as such, those contracts heavily favor the builder by not including specific performance objectives (including dates, % complete, etc.) and the banks released cash on construction loans w/o verifying the work. It sure seems like the Cotto family and the banks sure know how to work the system. Their likelihood of being prosecuted is small and, at the end of the day, the Cotto family can just dissolve the business and then start a new business doing the same thing.
Looking forward to the follow up to all of this. Great report
Sounds like organized crime involving everyone from realtor to city permit division if they kept issuing permits without work completed on jobs already permitted by a contractor. AG office covering for city and banks
Nope. Just general negligence and incompetence.
It's OC, they screwed over two GCs
WHAT A MESS AND TOTAL CRIME COMMITTED AGAINST ALL THESE PEOPLE. WE SEE MARIO, IN THIS VIDEO SO HOW IS IT THAT AG CANT FIND HIM ?
This is one of the most thorough investigations that I’ve ever seen. You have earned yourself a new subscriber keep up the good work.
No wonder why I was already subscribed to the channel. Hearing that 20K complaints are filed each year with the Attorney General makes me open my eyes to both the AG office and new home construction. I would not want to have dealings with either and hope ignorant future players plan accordingly.
Same thing happened to a church in New Mexico
They gave the builder the ability to withdraw $$$
He got part of the structure up and there was no more $$$
Nothing they could do about it as they allowed access
There's a lot of fraud somewhere
Wow! I've heard of guys like this. I've heard of a case like one of these a time or two, but nothing like this.
It's a wonder Mario is still walking around.
Dang Jody, back at it again with the investigative journalism!
This is obviously an organized scam.
RICO charges should be looked at.
I had a construction loan and I had to sign off before each payment was issued to the GC. If payments were released without homeowner's signature I would think the bank should be on the hook to some extent.
He is saying that the bank was in on it..
Cotto is right but cotto is defintly no angel
You and Rob Wolchek from Michigan are 2 of my favorite youtube channels, for exposing corruption and contractors who screw over their customers. Thank you for all yall do.
Wow, this is top notch investigative journalism. Super impressive and I wish this level of dedication and professionalism was the norm.
I wouldn’t wire anyone that kind of money to buy something on my behalf. I realize some people are not able to be there in person, but there are other safer methods to purchase things, especially property.
Hey Jodi, i live in cincy and ran across your video. You do good work and you seem to be one of the good guys!! Keep up the good work! I will be watching all of yoir stories!!
Let Me Tell Ya...
Those Crooked MoFo's Better Be GLAD I'm Not Comic-Accurate *Dead-Pool.* 😠
All those people for years agreeing to the expansion of government because the government should handle this or that, this is your bloated government doing nothing. The AG essentially said that he can't do his job for each victim. The citizens should rise up and hold him accountable. I will never comprehend that apathy of people.
ML from Oregon. Big fan of your journalism - rock solid. Hope you can get your own show soon!
Good video, it puts things into relief about which companies and people you should not get involved with - and even if the companies change names, it is always the person gallery that you have to remember and look for.
The Loan Officer and Bank is in on it . The draw has to be approved . File a lawsuit against the Bank and file a complaint with the FTC and FBI. Contact the Consumer Financial Protection Bureau and report the Banks actions . They can suspend their licenses quick
Jody you are a great investigator! Your persistent represent who you are. Keep up your hard work my man. Thank you for helping this people out! It's hard breaking to see this happen! How can we have a broken system in the U.S.? WOW. Unfortunately we do! So sad. Is not about politics! It's about justice!
The lender and state contractors and real estate board all need to be involved as well as county planning for inspections of permits. Disgusting
Excellent report 👍👍👍👍👍
WOW people need to post this Junk every where this is so messed up ‼️‼️‼️
Cotto has a huge truck!
And a little……………
Thanks Jody for doing what your doing.
@25:31 mark, kinda hilarious to see the suspected-criminal contractor point up to the sky and say “he’s the only one who can judge me.”
Actually, magistrates, judges, and juries can (& will) judge him someday…hopefully soon. And they all actually exist…
Bums like that Cotto go untouched and the A.G. need to be fired too!