According to capenews in a report from eastern Mass., a modular home builder in Marstons Mills, Donald B. Shulman, has been accused of essentially running a Ponzi scheme, with sufficient complaints to have generated a blog entitled “RDA (Realty Development Associates) Donald Shulman Victims.” Monthly meetings are attended by people who have purportedly given him money for modular homes and have received little or nothing. When one indignant couple threatened to sue, Shulman transferred the deed to his own home to the couple. The day before they were scheduled to foreclose on his property, he filed for Chapter 13 bankruptcy protection. The major complaint is Shulman repeatedly asked his customers for advances on their projects and did not deliver the homes when promised, if at all, and bilked them out of one to two million dollars. The bankruptcy petition, as MHProNews has learned, takes precedence over other legal action, and is set for a hearing April 19 at which time he will argue the legitimacy of his bankruptcy claim.
(Photo credit: D. Cutler/PRWeb CTP–Cape Cod, MA modular)