Chabad Loses Appeal On Bid For $18 Million From Arnall Estate

A California appeals court has upheld in full a lower court’s ruling that denied Chabad of California Inc.’s claim that $18 million had been promised to it by Ambassador Roland Arnall, founder of Ameriquest Mortgage. Arnall, who died in 2008, served as US Ambassador to The Netherlands from March of 2006 until he resigned in February of 2008, just weeks before his death.

Roland Arnall

Chabad Loses Appeal On Bid For $18 Million From Arnall Estate
Shmarya Rosenberg • FailedMessiah.com

A California appeals court has upheld in full a lower court’s ruling that denied Chabad of California Inc.’s claim that $18 million had been promised to it by Ambassador Roland Arnall, founder of Ameriquest Mortgage, the Jewish Journal reported. Arnall, who died in 2008, served as US Ambassador to The Netherlands from March of 2006 until he resigned in February of 2008, just weeks before his death.

Arnall originated the so-called stated income loan, which allowed borrowers to stare their income on loan applications but not provide any verification to that lender.

In 2006, Ameriquest announced a $325 million settlement with attorneys general, law enforcement agencies, and financial regulators in 49 states and the District of Columbia who had accused Ameriquest of misrepresenting loan terms and also of failing to disclose them. They also accused Ameriquest of inflating appraisals to qualify borrowers for loans and of charging excessive loan origination fees.

Ameriquest's predatory lending practices played a significant role in the worldwide economic collapse in 2008. Arnall sold Ameriquest to Citigroup in 2007.

The unanimous ruling against Chabad by the Second District Court of Appeal was issued on January 25.

Chabad claimed that Arnall made an oral pledge to give at least $18 million to Chabad in 2004.

Arnall gave Chabad three $180,000 donations before he died of cancer in March 2008. Chabad then claimed that Arnall had promised $18 million, and the that the $540,000 given it so far had been payments made on that pledge.

Arnall’s widow Dawn denied the existence of an $18 million dollar pledge. Chabad sued.

In 2011, Chabad lost that lawsuit. The judge ruled in part that Chabad had “failed to prove by a preponderance of evidence” that a pledge had actually been made by Roland Arnall. The appeals court ruling last month upheld that ruling in full.

Chabad can still choose appeal to the California Supreme Court.

Chabad’s attorney Marshall Grossman told the Jewish Journal that it was  “regrettable” that Chabad had to sue to try to collect the pledge when Roland Arnall – whom Grossman called “a generous supporter of Chabad” and other causes – often made such oral pledges “on a handshake.” Arnall fulfilled all of those pledges during his lifetime, Grossman reportedly said.

“In any event, the many charities which Roland supported in life will remain indebted to him and cherish his memory for years to come,” Grossman reportedly noted in a statement.

Neither Dawn Arnall or he attorney commented publicly on the court’s decision.

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Comments

[purple cherries]

De dan natzach!
This calls for a double shot of vodka and mountain dew.

[danny]

If I had a kid in college, I'd be much more afraid of them getting involved in Chabad than the Hare Krishnas... although I would put Chabad above Scientology).

[Outcast Yid]

Arnall was also survived by two adult children, now approaching middle age. The son, Daniel, has been battling cancer and the after-effects of treatment for several years, and I hope that he and his wife, who must use a wheelchair due to her own health issues, as well as their bar-mitzvah-age son, will continue to live in reasonable comfort. Whenever I see this small family walking in the neighborhood, the boy pushing his mother's wheelchair, and Daniel struggling to keep pace, I wonder if Chabad knows that they are sticking their hands in the pockets of these dignified souls.

[balderdash]

if its not childmolestation its after the money. THAT IS THE ESSENTIAL CHABAD. chabad is the bed bugs of our jewish nation. they spend their time scheming and plotting and sending out emissaries to gain controlof the monies of the druggies they meet and try to reform.. without going into the blood suckers issue,chabad are MONEY SUCKERS that come out of the hot vents that spue up ftom under the ocean;s hotspots. they are strange organisims this scneerson worshiping bunch. but oh to have rubashkin;s mink on these so cold nights in elizabeth.

[Satmar Rebbe]

What money grubbing scum suckers. Live the Arnall family alone. Be GRATEFUL for the generosity which he DID extend to you during his lifetime.

[chaim36]

Blood suckers father and son. Get a 9-5 job and WORK.

[Outcast Yid]

Chaim36, I don't think the son can work in his current condition. Even prior to his illness, he was nearly blind.

True, it's very likely that he's living off the family money, and he does have a nice house in a not-so-ritzy part of Beverly Hills. But he is not responsible for what his father did. Someone even write a book about Roland Arnall and his ilk:

http://www.amazon.com/Monster-Predatory-Lenders-Bankers-America--/dp/0805090460/ref=sr_1_1?s=books&ie=UTF8&qid=1360332305&sr=1-1&keywords=monster+arnallondition. Even before

[Outcast Yid]

Sorry, here's the link:

http://www.amazon.com/Monster-Predatory-Lenders-Bankers-America--/dp/0805090460/ref=sr_1_1?s=books&ie=UTF8&qid=1360332305&sr=1-1&keywords=monster+arnall

[EDIT!]

borrowers to stare their income

Should be "state" their income.

[agenda]

typo
Neither Dawn Arnall or HE attorney commented publicly on the court’s decision.

should say HER

[David]

1) Why don't the frumma ever get anything in writing? It would avoid disputes of this nature.

2) Why do antisemites associate Jews with greed, heartlessness and money?

[ruthie]

orshiping bunch. but oh to have rubashkin;s mink on these so cold nights in elizabeth.

Posted by: balderdash | February 07, 2013 at 11:28 PM

Elizabeth????
JEC?
Teitz?
HUGE money from NJ donors there.
is there chabad in Elizabeth now????
what?
what?
wow...please explain or tell me...Elizabeth???

[R. Wisler]

This Arnell was quite a dirtbag. Glad the world's rid of him. Cunin, his minions, and Arnell deserve each other.

[restaurant loans]

i am genuinely glad to glance at this website posts which consists of lots of useful
facts, thanks for providing such data

[turning point]

bed bugs bed bugs bed bugs of our jewish nation. so well put.A lechihim at their next drunken brawl that they have have on their satanic type, all glassy eyed shabbat congregation.