David Saks: June 2014

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Tampa Contractor Who Defrauded Hundreds of Investors Gets 4 Years

Tampa Contractor Sentenced to Four Years in

Federal Prison for Defrauding Hundreds of

Investors in Connection with Home Solutions of

America Inc. Stock

Brian Marshall Taken into Custody Immediately

Following Sentencing

U.S. Attorney’s Office June 09, 2014
  • Northern District of Texas (214) 659-8600

DALLAS—Businessman Brian Marshall, 50, of Tampa, Floriad, was sentenced today by U.S. District Judge Barbara M. G. Lynn to four years in federal prison for defrauding investors in connection with the sale of Home Solutions of America Inc. stock, announced U.S. Attorney Sarah R. Saldaña of the Northern District of Texas. Marshall was remanded immediately to custody following the sentencing hearing.

Marshall pleaded guilty on November 18, 2013, the day his trial was to begin in federal court in Dallas, to one count of securities and commodities fraud.

Marshall was a vice-president and a member of the board of Home Solutions of America Inc., a NASDAQ-traded company that was based in Dallas before it relocated to New Orleans, Louisiana, in July 2008. Home Solutions was in the business of construction and restoration, including new construction and restoration following natural disasters such as hurricanes. Home Solutions conducted some of its business through its largest subsidiary, Fireline Restoration Inc., which was based in Tampa. Marshall was the president of Fireline. Frank J. Fradella of Covington, Louisiana, who was the CEO of Home Solutions, pleaded guilty to securities fraud in the Eastern District of Louisiana and is scheduled to be sentenced on September 24, 2014.

In filed plea documents, Marshall admitted that between December 2006 and August 15, 2007, he ran a scheme to defraud public investors by fabricating false and fictitious revenue, operating income and costs in connection with a series of construction contracts in Tampa. Marshall caused Fireline to enter into construction contracts with private companies that he wholly or partially owned, including a $4 million contract for the construction of his personal residence.

Marshall admitted that he also caused Fireline to record revenue and income from the construction contracts that were false, because little, if any, work had actually been performed. Even though Marshall knew that the revenue, costs, and income on the construction projects were false, he caused Home Solutions to report it to public investors in Home Solutions’ 2Q 2007 10-Q.

Today’s announcement is part of efforts underway by President Obama’s Financial Fraud Enforcement Task Force (FFETF), which was created in November 2009 to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. With more than 20 federal agencies, 94 U.S. attorneys’ offices and state and local partners, it is the broadest coalition of law enforcement, investigatory, and regulatory agencies ever assembled to combat fraud. Since its formation, the task force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state, and local authorities; addressing discrimination in the lending and financial markets; and conducting outreach to the public, victims, financial institutions, and other organizations. For more information on the task force, visit www.stopfraud.gov.

The FBI, with substantial assistance from the Enforcement Division staff of the Securities and Exchange Commission, conducted the investigation. Assistant U.S. Attorneys J. Nicholas Bunch and Andrew Wirmani prosecuted.


David Saks

Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.


Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.





"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


  Real Estate Crimes


Click "HERE" For Today's Question



TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis



America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 2 commentsDavid Saks • June 10 2014 01:52PM
Tampa Contractor Who Defrauded Hundreds of Investors Gets 4 Years
Tampa Contractor Sentenced to Four Years in Federal Prison for Defrauding Hundreds of Investors in Connection with Home Solutions of America Inc. Stock Brian Marshall Taken into Custody Immediately Following… more
What Happens to Your Expired Listing In ActiveRain
Do you have withdrawn, inactive & expired listings posted on ActiveRain Thousands of withdrawn and expired listings reside on the servers of social and professional real… more
Businessmen Guilty of Fraud Charges Involving Elderly Victims
Two Local Businessmen Plead Guilty to Multiple Federal Fraud Charges Involving Elderly Victims in St. Louis U. S. Attorney’s Office June 06, 2014 Eastern District of Missouri &… more
Husband & Wife Guilty $3. 7 Million Advance Fee Scheme and Tax…
Husband and Wife Plead Guilty to Charges Relating to a $3. 7 Million Advance Fee Scheme and Tax Evasion Developed Relationships with Religious Groups as Part of the Scam U. S. Attorney’s Office June 06,… more
Real Estate Fraud Report for June 9, 2014
Before you even think about committing a real estate crime click the red button. real estate fraud: Alabama Real Estate Firm Hit With $500, 000 RESPA Fine - 06/09/14 11:23 AM Alabama Real Estate… more
Five Indicted on Fraud Charges
Five Indicted on Fraud Charges U. S. Attorney’s Office June 06, 2014 Northern District of Ohio (216) 622-3600 Steven M. Dettelbach, United States Attorney for… more
Alabama Real Estate Firm Hit With $500, 000 RESPA Fine
Alabama Real Estate Firm Hit With $500, 000 RESPA Fine The Consumer Financial Protection Bureau, which took over enforcement of the Real Estate Settlement Procedures Act (RESPA) from HUD several years ago, entered into a consent… more
Real Estate Practice : Lesson 2755
#2755 If you forget to renew your real estate license your violating a state law and can be fined. Is this true or false Take your time. The solution is posted below the wildlife photo. A. False Your not… more
Real Estate Practice : Lesson 2754
#2754 During a title search the attorney discovered that an heir to an estate had not properly signed a deed before the property was transferred. This defect of title could most likely be cured by a letter of estoppel. Is this… more
Real Estate Practice : Lesson 2753
#2753 A home was built several years ago and was actually constructed without a functioning heat or air conditioning system. If an appraiser were to use the cost depreciation approach he would refer to this exclusion of heat and air in… more