Defrauding America: Encyclopedia of Secret Operations by the CIA, DEA, and Other Covert Agencies, Vol. One (Book # 2 of 30 in Defrauding America series.)

by Rodney Stich

A major segment of the HUD fraud was centered in the Denver area and committed by a group of closely related people and companies, who had close ties to the Reagan and Bush administrations. Numerous HUD officials left government to work for the Denver group that defrauded the American people of billions of dollars, much of which is hidden away in either offshore financial institutions or in secret locations throughout the United States. Philip Winn was one of the kingpins in the Denver group. He was a former HUD Assistant Secretary who joined the MDC group in Denver and became a key player in the HUD and savings and loan scandals. Numerous HUD officials left government service and received high paying jobs with an interrelated group in Denver. This group included, among others: MDC Holdings; Richmond Homes; Silverado Bank Savings & Loan; Aurora Bank; M & L Business Machines; Leonard Millman; Larry Mizel; David Mandarich (president of MDC Holdings); Ken Good; Bill Walters; Neil Bush; Silverado’s President Michael Wise; James Metz, major stockholder in Silverado; and dozens of subsidiaries and related companies, limited partnerships, trusts. It was learned that Leonard Millman, Larry Mizel, and Philip Winn, all members of the ADL, were partners in these schemes, as was Philip Abrams, former HUD under-secretaries. Federal regulators involved in the HUD scam included HUD Secretary Samuel Pierce, former Assistant Secretary Thomas Demery; Deborah Gore Dean and Lance Wilson, form...