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NEW ARTICLE ABOUT SWEET MICKY IN MIAMI HERALD
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MINGOLOVE



Joined: 15 Mar 2006
Posts: 2161
Location: MIAMI, Florida

 PostPosted: Mon Mar 07, 2011 7:52 am    Post subject: NEW ARTICLE ABOUT SWEET MICKY IN MIAMI HERALD Reply with quote Back to top

HERE IS AN ARTICLE PUBLISHED BY SOUTH FLORIDA'S MOST POPULAR NEWSPAPER, THE MIAMI HERALD, ABOUT PRESIDENTIAL CANDIDATE, MICHEL MARTELLY, AKA SWEET MICKY

Haiti candidate Martelly lost three S. Florida properties to foreclosureBy Frances Robles

Read more: http://www.miamiherald.com/2011/03/06/v-print/2101272/haiti-candidate-martelly-lost.html#ixzz1FuvaUmsc

A long-time entertainer who is vying to become the next president of Haiti has defaulted on more than $1 million in loans and lost three South Florida properties to foreclosure in just over a year, public records show.
Among the houses Michel “Sweet Micky” Martelly lost was the 5-bedroom 6,000-square foot Royal Palm Beach home the singer shared with his wife and four children until he returned to Haiti in 2007.

Records show he and his wife Sophia bought the brand new two-story house on Wellington View Drive in the summer of 2005 for $910,000. They took out two loans, including one for $637,000, according to Palm Beach County records. Martelly stopped paying one of the mortgages’ $3,251 payment on Nov. 1, 2008, the files show.

The bank sued, Martelly and the trustee named on the records did not respond, and a judge ordered a foreclosure. The house was sold a month ago in a bank sale, and is now listed for sale for $500,000.

The house was among three properties Martelly purchased – including two in Broward County – that banks took back for lack of payment. Those lawsuits join liens from homeowner associations and a Broward County hospital, which sued the candidate for payment of a medical bill.

The issue of Martelly’s financial acumen will likely increase scrutiny of him him on the campaign trail, where he enjoys popular support among Haiti’s youth. Anonymous bloggers are spreading the word about the real estate deals and asking: “Why Michel Martelly is running for president of Haiti while facing deep financial problems in United States?”

Campaign spokesman Damian Merlo said the candidate was victim of a tanked economy and failed investments he did not manage personally. He denied that the singer ever lived in any of the houses, although in 2007 the Miami Herald visited Martelly twice at the unfurnished Royal Palm Beach home, which included a padded recording studio.

“I don’t think it’s related to his capability to manage investments or his capability as a successful businessman,” Merlo said. “Every successful businessman has transactions that are not as successful all the time. He is one of the most successful businessmen in Haiti and is hoping to transfer those skills as president of Haiti.”

But some analysts said the revelations could have an impact on Martelly’s campaign because not much is known about his management abilities.

“Haitian voters know little about Martelly and his track record in management of institutions, resources, and people — let alone a country —given his dearth of elected or otherwise political track record,” said Trinity University Prof. Robert Maguire, a longtime Haiti observer. “The next president of Haiti will be an instrumental force not just in leading Haiti beyond the aftermath of the earthquake to a future that addresses essential issues of poverty alleviation and economic growth, but also in managing relations with the international community which, in essence, finances Haiti’s future.

“If Martelly’s past track record of resource management is flawed, Haitian voters should know about it, and he should respond.”

Martelly moved to South Florida in the 1980s and tried his hand at construction. He ultimately became a kompa music star and had a regular gig on Ocean Drive in the 1990s. In 2007, he announced his retirement from the stage – and then stopped making payments on the real estate he had purchased.

Martelly bought the houses as investments, which soured when the real estate boom crashed, Merlo said. Asked whether Martelly walked away from the steep debt because he owed more than the houses were worth, Merlo said: “He could always pay.”

Merlo stressed that the investments were managed by Martelly advisor Natacha Magloire, an event promoter and licensed real estate agent.

That’s a weak defense from someone who seeks to be president, said mortgage foreclosure expert Shari Olefson, author of “Foreclosure Nation: Mortgaging the American Dream.”

“If his treasurer steals money when he’s president, will his defense be that he didn’t know, because it was the treasurer who did it? That’s not a leader,” Olefson said. “He obviously had no ethical qualms about walking away from promises he made to banks. If you break a promise three times, why honor any campaign promises made to the poor people in his country? This seems to be a guy who saw easy money and played the game along with the worst of them.”

The “more honorable” options when under water are to short sell or negotiate with the banks, she said.

“He’s the poster child of what you are not supposed to do,” Olefson said.

But veteran political consultant Armando Gutierrez, who has no connection to Martelly’s campaign, said lots of candidates have money problems.

“All he has to say is that he, like millions of other Americans, was a victim of the U.S. economy,” Gutierrez said. “A lot of people lose everything and then make it all back again.”

Records show it did not start out so bleak for Martelly and Magloire, the real estate advisor. They purchased a Brickell Avenue condo together in 2005 for $399,190, and sold it a year later for $715,000, according to Miami-Dade County records.

A second house he lost to foreclosure also leads back to Magloire. A Pembroke Pines home she purchased in 1998 changed hands several times between friends and family until the Martellys purchased it for $435,000 in February 2006, borrowing $348,000.

The last $1,848.75 mortgage payment was made March 2008, records show. Green Point Mortgage wanted its money, as did the community association. Another $16,868 in back taxes was due, too. Records show that when the bank sued, Magloire’s relatives Serge and Daniella Magloire were also named in the suit.

By Dec. 2009, the house was sold at a bank sale.

Three months later, a Wiles Road condo in Coral Springs Martelly paid $267,990 for also foreclosed. Purchased in Aug. 2007, it was in default within six months, because nobody made the $2,037 monthly payments.

“These were investments managed by Natacha Magloire; she was totally responsible for managing these. She was the one who advised him what properties to buy,” Merlo said, noting that bankruptcy has haunted the most successful of tycoons. “Even Donald Trump went into foreclosure. It doesn’t relate to running a country.”

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Unborn_Child



Joined: 25 Jun 2007
Posts: 384
Location: In the sky(New York)

 PostPosted: Mon Mar 07, 2011 8:46 am    Post subject: Reply with quote Back to top

Hum gros sujet papa. Poor Haiti
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Gromosso



Joined: 12 Mar 2006
Posts: 10479

 PostPosted: Mon Mar 07, 2011 8:50 am    Post subject: Reply with quote Back to top

Interesting article to say the least Mingo, thanks for sharing!
 
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antre moun



Joined: 20 Apr 2010
Posts: 97
Location: Atlantic city - New Jersey

 PostPosted: Mon Mar 07, 2011 9:11 am    Post subject: Reply with quote Back to top

So whatttt!!!!! Neg la te investi lajan nan achete kay, epi economy an
Pran kou, a lot of people is facing this dillema, it affected a good portion
Of people. I'm going through it, and almost everyone I know is somehow
Affected by the economy being crashed. I'm not saying he will be a good president or anything, but I don't think people should judge him just because
Of those reasons. Everyone is aware of the the economic crisis that we are facing.
It's interesting news though, thanks for posting the article.
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MINGOLOVE



Joined: 15 Mar 2006
Posts: 2161
Location: MIAMI, Florida

 PostPosted: Mon Mar 07, 2011 9:12 am    Post subject: Reply with quote Back to top

Unborn_Child wrote:
Hum gros sujet papa. Poor Haiti


When I first read the article yesterday, I was like "humm , another article by a US newspaper to blackmail a haitian candidate in order to show that Haitian politicians or leaders are crooks and simply cannot rule the country. Then, I come to think about it. Refleksyon mwen fè mwen wè pi lyen.

The last time I checked, I had learned from a reliable source that Michel Martelly is a US allien card holder, so he has a permanent resident status in the USA. If elected president, after his term(s), he will need to travel back and forth to the USA. When he turns 65 or 70, he might need to stay in the USA more in other to follow regular medical appointments and all. E pou bagay sa yo lap bezwen yo kote pou'l rete e ansyen prezidan an pap ka rete ki nenpot kote.

So, maybe the writer is also trying to show us, in addition to the other allegations, Micky might profit of his position (as president) to accumulate a fortune and buy himself a new house in the US for his vacation or retirement.

Just my Opinion

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The views/opinions that I express on KM are strictly and solely those of MINGOLOVE, the HMEI personality, and should not be associated in any way with my membership in any other fields nor be held against me in any matter not related to entertainment.
 
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examiner



Joined: 30 Sep 2010
Posts: 226
Location: miami beach

 PostPosted: Mon Mar 07, 2011 9:30 am    Post subject: Reply with quote Back to top

Thanks for sharing Mingo but who doesnt know Michel's purpose in this election?? misye se deye ti kob pal li vini tou....... msezi pou haitien kiye nan HMI la ki pa konn Michel?? act li e kiyes li ye........ poor Haiti
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neg kfou



Joined: 17 Aug 2006
Posts: 379

 PostPosted: Mon Mar 07, 2011 10:18 am    Post subject: Reply with quote Back to top

esperons ke si'l monte li pa pral pran lajan rekontriktion an si jamais yap bay li pou'l peye dette li fe nan US la.
 
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rocketman



Joined: 12 Oct 2008
Posts: 1024
Location: New York State

 PostPosted: Mon Mar 07, 2011 10:21 am    Post subject: Reply with quote Back to top

Wow Cool thanx for sharing this piece of infos with us!
hm anyway good luck tio him. tout se menm so WHATEVER.... Arrow
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Neg2byen



Joined: 04 May 2010
Posts: 2049
Location: Long Island NY

 PostPosted: Mon Mar 07, 2011 10:22 am    Post subject: Reply with quote Back to top

Nou ka komanse konprann pouki out of the blue Micky bezwen vin'n prezidan... Aristid te vinn granneg nan yon environ de kelke mwa apre li te prezidan. Mizik pat ka ede Micky peye bill li, l'ap cheche yon job ki gen plis kob.
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G54life



Joined: 11 Mar 2006
Posts: 553
Location: somewhere in your mind in NEW YORK

 PostPosted: Mon Mar 07, 2011 10:27 am    Post subject: Reply with quote Back to top

President, Michel J. Martelly ....get use to it
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