Rosemary Sauter

Update: Read a message reportedly from the Board of Realtors advising people not to deposit funds for property management, purchases, rentals, etc. Seems to be a real deal.

Pamela

That message was not to deposit into Remax, Dream Properties. Did not name Rosemary.

:-oSomtimes it's best to mind your own business! this is one of those times*-)

I received the same message from the Board of Realtors also. Unfortunately, I have funds in the ReMax escrow account. . . .

Check out this link: http://www.facebook.com/notes/st-thomas-blog-caribbean-beach-travel-us-virgin-islands-restaurants/breaking-news-rosemary-sauter-of-remax-makes-off-with-millions/285912752046

We have a property managed by ReMax Dream Properties, and we were specifically told NOT to deposit into the Remax account...The office over Banco by the Hospital and Fruit Bowl had Crime Scene tape and orange notices posted all over it I don't personally know Rosemary, but I do know that I have a stake in this game too.

Lizard are you aware of the Arrest Warrant?

http://stthomassource.com/content/news/local-news/2010/02/05/arrest-warrant-issued-fugitive-realtor

Tippi,
Yes, the arrest warrant that was issued after the original posting. Are you aware of what the defense attorney stated in open court about Rosemary Sauter. Read the St Thomas Source about the trial of the three convicted VIPD's (Murder for Hire)! Again somethings are best left alone. Do you know what anyone is capable of doing?:S

Lizard et al,

I admit the same thing has run through my mind. Oddly enough the Witness Protection program - too much TV.

But the lesson of the day is that the US Virgins need to come up to speed on escrow accounts. I was a REALTOR in the states for many years. The escrow accounts there could almost literally not be touched without some machinations at the highest level involving several people. Title companies, etc. were licensed and bonded. Your money was safe. Checks do not bounce when written on escrow accounts.

Trust accounts, as we use them in the Virgins, are not the same. Yes, they may require two signatures but there is no one involved who is insured and bonded and responsible for the money. At least to the best of my knowledge. Some attorneys may hold escrow funds and comply with state side regulations.

All of that said, we need to take that lesson away with us. When giving large amounts of money (whatever that means to you) to someone, request to see the legal documents insuring your money is safe.

If Rosemary is in other trouble I know we all hope she returns to us safe.

Pamela

Pamela

I feel for the people who lost money. Whether it be property owners, people purchasing, those in the lotto of the house, people coming on vacation. Her actions far exceed escrow accounting.

SB Lizard - Yes, I've read it.

Pamela,
It wasn't the convicted VIPD's accused of Murder for Hire!

Regarding Trust and Escrow Accounts There is no Federal Law Which requires Insurance and Bonding in the upper 50 States. That is not to say some States may have a license requirement for the Licensed RE Broker to maintain a Trust or Rental escrow account as a fiduciary to be insured and or bonded, however it is not a universal practice by all the States. Most States require that Trust and escrow account be deposited in a FDIC Bank (that's why the FBI is involved in the RE/MAX Dream Properties Case).*-)

Any updates?

We were told yesterday, from our Realtor at Remax, that she is really not even sure if our "last and security deposit" is in the escrow account.

I doubt anyone knows what is the "escrow" account at this point. Sure it will all come out once an audit is performed. I don't believe you, Cheryl, can be penalized if funds are not there.

Pamela

I would get a copy of the check to see exactly who endorsed it and what account it went into.

I admit I am slow on this one but what does R, Sauter have to do with the police corruption charges? This would have been a great topic for Free Speach Radio.

Any updates?

Tippi, there are no updates - only rumors. Everybody is "so shocked" that she wold do something like this and disappear without a trace leaving her family behind. I'm going to re-watch "Body Heat," because this situation made me think of that movie.

I am really not sure why people are so shocked......it happens all the time..................greed breeds contempt..........

Any news? She is our former realtor and I'd be shocked if there wasn't more to this... Hope she's okay...

You hope she's okay? What are you, nuts? The woman is crocked through and through for crying out loud! And you hope the poor thing is okay? I hope you're not losing too much sleep over it. How about hoping the people she robbed of their life savings are okay? I personally hope she's little more than a source of food for the fish. No, sorry, that's not fair to the fish.

Mr Dover -- Pleasant 1st post -- welcome to a helpful forum.

@ben dover: she has a family, was a witness for the prosecution in a corrupt system. But, as I see it ( and i lived in the VI for years)... there may be a bit more to this...

Mr. Ben Dover, we would like to know what happened. No way to know as of yet. But for now, let's keep our focus on facts.