UPDATED June 21, 2015
The Doral Property was sold by the Arbitrator, Resolution Resources Corporation on April 30, 2003, and is contained in the Final Order (Binding Arbitration) of this court filed December 8, 2003.
Bruce Ailion sent a Fax (below) to the court appointed Arbitrator, Raye Rawls on March 17, 2003 stating that a nearly identical house (the Doral Property) one street away sold for $600,000 with a $42,000 commission within the past 45 days. Bruce Ailion indicated to the Arbitrator in the Fax on March 17, 2003, that the Doral Property would not legitimately appraise for $725,000.
Bruce Ailion states in his Fax to the Arbitrator on March 17, 2003, that the Doral Property was not worth more than $600,000 with a full real estate commission. Relying on Mr. Ailion’s March 17, 2003 Fax, the Arbitrator sold the Doral Property for $585,000 with no real estate commission on April 30, 2003.
According to the October 1, 2004 contempt hearing transcript page 66 lines 21-25, Bruce Ailion gave testimony to Judge Adele Grubbs that he has the Doral Property listed for $749,000 in August 2002. In fact on August 26, 2002, Remax agent and attorney Bruce Ailion had the Doral Property listed for $639,900. Mr. Ailion then reduced the price of the listing to $615,000 when he transferred his listing to Coldwell Banker on October 8, 2002 until February 15, 2003. The Doral Property listed for sale by Bruce Ailion's for $749.000, expired in 2001.
Raye Rawls, the Arbitrator sold the Doral Property for $585,000 with no real estate commission on April 30, 2003. She was appointed by Judge Adele Grubbs to handle the sale of the Doral Property. Bruce Ailion indicated to the Arbitrator on March 17, 2003, that the Doral Property would not legitimately appraise for $749,000(he is not a licensed appraiser). Bruce Ailion confused the court as to the value of his listing at the time he had the Doral Property listed. This led the court to believe that he was due over $100,000 more in equity. Bruce Ailion knew the Doral Property would not appraise for the $700,000 plus price (see above).. Bruce Ailion knew the Doral Property was worth around $600,000. However, I was found guilty and ordered to pay him over $132,000 towards his equity (the difference between the sales price of $585,000 and the $749,000). This was due to Bruce Ailion's false statements to Judge Adele Grubbs at the October 1, 2004, hearing, that he had the Doral Property listed for $749,000. when he really had it listed in 2002 for $615,000 and $635,000.
Why would any person pay over $100,000 more for a home after it had been on the market for approximately one year for $100,000 less? Why would someone purchase a home that would never appraise for anywhere near that value?
The Georgia Real Estate Commission (investigator Vivian Chang) investigated the fraud sale issue and found that there was nothing wrong with my involvement with the Doral Property sale. I remained an active licensed real estate broker in Georgia up until the end of 2014 when I placed my license inactive.
In the transcript below (October 1, 2004 hearing page 66 lines 21-25) Bruce Ailion is testifying to Judge Adele Grubbs that he has the Doral Property listed by himself for $749,000 in August 2002. That is not true, in fact on August 26, 2002, Remax agent and attorney Bruce Ailion had our marital home listed for sale,
Mr. Ailion testified to the court that the home was on the market for sale for $749,000 in 2002, when in fact from
This confused Judge Adele Grubbs as to the real value of the Doral Property.
Below is a copy of the contempt Order filed October 19, 2004 with regard to the Doral Property, the marital residence. Judge Adele Grubbs ordered my arrest and ordered me to pay my former husband $132,500 that he had claimed was his equity in the home.
The October 19, 2004 contempt Order above makes several allegations:
1. It states that the Doral Property was sold to a friend of Marla Ailion Wright's husband.
This is not true. Bruce Reich and Albert Wright were business men who made investments. They were not friends. I was not married to Albert Wright in 2003 when the house was sold. We married on June 26, 2004.
2. It states the Doral Property was sold for an amount grossly below market value.
Bruce Ailion, a licensed real estate broker, and a real estate attorney, was co-owner of the marital property. He manipulated the fair market value used by the courts, by listing the property himself through his own property listing at Remax and with Coldwell Banker. As a Remax real estate agent, Bruce listed the Doral Property for $639,900 and then listed it with Coldwell Banker for $615,000 (with a 6% real estate commision). After the Doral Property had been listed by Bruce Ailion for these two different amounts over the course of eleven months, it was sold after the listings expired by the court appointed arbitrator for $585,000. There was no real estate commission paid when the arbitrator sold the Doral Property.
3. It states the purchaser paid Albert Eddie Wright at least $136,000 above the purchase price.
This is untrue. Albert Eddie Wright made an investment of $130,000 on a group of investment properties owned by Bruce Reich. The investment shored up the difference of the equity Bruce Reich had available (on properties he owned for many years in Cobb County and Hawaii) to place second mortgages on the group of properties and was never a reflection of the fair market value of a single property. While Reich became aware of the availability of the Doral Property at a local roller skating rink, through me, he was referred to the Arbitrator, Raye Rawls. There was not an inappropriate business transaction. This was later verified by both the Securities Exchange Commission and the Georgia Real Estate Commission, even though Bruce Ailion made professional complaints against Reich and me.
Eleven months after the Doral Property sale Albert Eddie Wright received $136,718.45 from Bruce Reich. The amount reflects his initial investment of $130,000 plus a approximate 5.75 % return on his investment from Bruce Reich eleven months later. There was never any amount paid to Albert Wright by Bruce Reich with regards to the sale of the Doral Property. The only profit Albert Wright received was $6,718.45, the 5.75% return that he paid taxes on in accordance with U S tax laws.
Checks paid to Bruce Reich by Albert Eddie Wright - April 2003
Check paid to Albert Eddie Wright by Bruce Reich - March 19, 2004
4. It states the loans against the current Bruce Reich loans are currently $330,000 more than the house sold for.
To my knowledge I have seen no records nor evidence that justifies this statement. I do know that Bruce Reich made substantial renovations and improvements to the Doral Property after he purchased it.
5. It states that Marla Ailion Wright perpetrated a fraud upon Bruce Ailion and the court over the Doral Property sale.
This is untrue. There was no fraud on the part of Marla Ailion Wright. contrary to what this court attempted to allege. The Georgia Real Estate Commission investigated and found I committed no fraud over the Doral Property sale. Click here to see that my real estate brokers license is still active today with no disciplinary history on file. Click on Bruce Ailion to see his disciplinary history on file at the Georgia Real Estate Commission website.
6. It states that Marla Ailion Wright owes Bruce Ailion $132,500 for his true equity in the home.
When the arbitrator sold the Doral Property for $585,00 the loans against the house were approximately $525,000 had to be satisfied leaving a balance of approximately $60,000, less closing costs, taxes and deposits, which gave both Bruce and myself roughly $24,000 according to the arbitration final Order.
7. It states that Marla Ailion Wright had the ability to pay the $132,500.
This is not true. I never had the ability to pay the $132,500 and had filed a chapter 7 bankruptcy that was discharged in January 2004.
There are repetitive patterns, rather than one isolated instance where Bruce Ailion misused information. Mr. Ailion fraudulently misrepresented information he was required to disclose regarding the sale and transfer of 4488 Doral Circle (the marital property referred to as the “Doral Property”).
This was not true.
Mr. Ailion, a real estate broker and attorney, presented an expired document and mislead the court. This Multiple Listing document ( P-9) had expired on December 31, 2001, and was not active on August 26, 2002. He gave sworn testimony during the hearing that this was an active listing and that he had the Doral Property listed for sale for $749,000 on August 26, 2002
This is the active listing below showing that Bruce Ailion, the Remax real estate listing agent had the Doral Property listed for $639,900 on August 8, 2002.
The listing agreement with Coldwell Banker expired on
The HUD-1 Settlement Statement below shows Bruce Reich closed and purchased the Doral Property on April 30, 2003. The HUD-1 also shows all of the Seller’s proceeds went to the arbitrator Resolution Resources Corporation. The court appointed arbitrator, Resolution Resources Corporation, represented by Raye Rawls, sold the Doral Property and received all proceeds from the sale.
The Doral Property had been listed for $639,900 by Bruce Ailion from August 2002 until October 1, 2002 and for $615,000 by Coldwell Banker from October 1, 2002 until February 15, 2003. The last listed sales price of $615,000 (from October 1, 2002 until February 15, 2003) included a real estate commission of 6% or $36,900 with a net of $578,100. On April 30, 2003 Bruce Reich purchased the Doral Property from the Arbitrator Raye Rawls (Resolution Resources Corporation), for $585,000 with no real estate commission.
Bruce Ailion falsely testified in the Transcript on page 67 (below) lines 12-13, that he only received fifteen hundred dollars from the sale of Doral Property from the Arbitrator.
According to the Final Order below (of Binding Arbitration) filed December 8, 2003, Bruce Ailion received a net of $2,746.04 after his fees and expenses were deducted from the total amount of $24,076.04 - a $1,246.04 difference.
This is not true.
Albert Eddie Wright did not receive $130,000 at the closing. He made an investment with Bruce Reich and did not see a return on his investment for eleven months. The mutual investment involved multiple properties with an approximate 5.75% return approximately eleven months later.
*(Note: according to the free dictionary contemporaneous means originating, existing, or happening during the same period of time.)
On page 62 below lines 23-24 Bruce Ailion states "well actually a note for that, this has been subsequently satisfied in the public record". Bruce Ailion doesn't state that the notes were satisfied approximately eleven months later according to the public record, in March 2004 and filed in April 2004. Bruce Ailion is inconsistent with his earlier false testimony when he stated on page 58 above, lines 16-18, of the Transcript that Albert Eddie Wright received $130,000 contemporaneous with the closing.
The Doral Property had been listed on the market for sale by Bruce Ailion for over eleven months for $639,900 and $615,000. Bruce Reich paid $585,000 for the Doral Property with no real estate commission. This was close to the last listed sales price of $615,000 with a six percent real estate commission. Bruce Reich paid a fair and reasonable price for a property that had been listed on the market for sale for almost one year. It makes no sense that the purchaser Bruce Reich (a financial planner and Senior Vice President of National Financial Services Group, Certified Public Accountant and MBA would pay $132,500 over the last listed sales price. Albert Eddie Wright was not paid $132,500 by Bruce Reich for the Doral Property.
As a licensed real estate broker for almost thirty years, I have never seen a purchaser pay $132, 500 more than the listed selling price for any property offered for sale.