It is confirmed that the sentencing date has been moved to April 16th.
The reason given was the defense attorney requested the postponement.
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Where will greed get you?
Jon Helgason and Thomas Balko Victims Site
Helgason ~ Balko
Where will greed get you?
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- Victim T
- We are victims of the Helgasons and Balkos. We are determined to legally fight both of them for as long as it takes.
55 comments:
neighborsteve said...
People on this discussion may be interested to know that the March 10 sentencing date has been delayed until April 16. If anyone who believes that he or she has been affected by this case would like to provide a non-anonymous, potentially publishable comment, please contact me at sbrandt@startribune.com
--Steve Brandt, star Tribune
March 9, 2009 3:45 PM
Steve, no one is un- affected by the crimes commited.No matter how small,they are partly responsible for the state we are all in.
Pretty soon there is going to be a very angry public. If these guys are not already the two most hated men in the state, they soon will be.
SENTENCE THEM TO PRISON ALREADY!!
Using dirty money to exploit our broken justice system.Someone explain what right they have to delay sentencing ? What a joke. Crime does pay????
2 who pleaded guilty in $35 million housing fraud get sentencing delay
STEVE BRANDT, Star Tribune
Some of the victims in a $35 million mortgage fraud case showed up at the federal courthouse in Minneapolis on Tuesday expecting to see the two men behind the scheme sentenced to prison.
But once again, the sentencing of Jon Helgason and Tom Balko was delayed at their request. The new date is April 16, just a day short of a year since their guilty pleas.
Their attorney told a judge that the men had had a hard time coming up with the money to retain an academic expert who is expected to bolster their claim that losses on their property dealings were exacerbated by a housing market plunge that they could not reasonably have foreseen. A federal prosecutor objected, but Judge Joan Erickson approved the continuance.
The market issue is important to their arguments that their sentences should be shorter than the ranges provided in federal sentencing guidelines, which are based in part on the monetary losses of their victims. Their attorneys said Balko, 38, of Rogers, is facing a sentence of eight to 10 years, and Helgason, 45, of Chisago City, from eight to more than 12 years unless the sentencing range is modified.
The two were co-owners of TJ Waconia and were behind a three-year scheme that involved 162 properties, the preponderance of them in north Minneapolis.
The scheme involved the purchase and rapid resale of properties for tens of thousands more dollars to investors who were told they were lending their credit to the scheme.
Terese and Troy Pingree of Apple Valley were among those investors. She said that Helgason promised to buy back the two Prior Lake houses they invested in after two years but stopped paying the mortgages on the houses and kept the rents.
"We're just very disappointed that it has taken so long for them to be sentenced. We just want closure," Terese said.
According to their attorneys, Helgason and Balko were in the business of buying, rehabbing and reselling homes in a rapidly rising market. The more houses they handled, the greater their profits, but eventually they exhausted their credit and brought in the investors as purported owners.
Their attorneys argue that in a stable or appreciating market, losses wouldn't have occurred or would have been minimal, and the men would face minimal prison time. The government hasn't responded yet to that argument.
The pair has retained University of Minnesota Prof. Edward Adams to analyze the housing market and related factors. That analysis was to have been done by late February, but in arguing for a continuance, attorneys said that Helgason and Balko underestimated the funding challenges of retaining Adams.
Steve Brandt • 612-673-4438
Just goes to show ya , enough money gets any asshole to write anything..if the victims had any money they could hire santa clause to say otherwise
Yeah... the "market" is to blame! If the "market" had not tanked then they never would have gotten caught... right?!?
OK - let's get some actual photos of Helgy and Balky (and heck, while we're at it, former "property manager" Ronnie Franklin) and get those posted where people can see them... let's finally put some faces on this never ending crime.
Perhaps now that there is blood in the water the Star Trib will do an overview/expose between now and the new sentencing date!!! Steve Brandt's article (reprinted above) could easily be expanded on... I'm sure Jim "The Wad" Watkins would love to come to the defense o' his old buddies again... only this time he could do it 'on the record'!!!
Also: anyone interested in running down a list of the civil suits against these a-holes??? I'm sure those will be in full effect now!!! Plus isnt it time that Jill "Innocent Victim" Balko should be given an opportunity to express her opinions about all of this??? I mean, now that the sentencing is upon her beloved Tom...
Anyway... it's the "market" that should be blamed in the end... not greed, stupidity and criminal behavior on the part of these upstanding citizens...
Jill, innocent, HA don't make me laugh.
Wow... this post got awfully quiet... wonder what happened to everyone defending T&J???
Maybe they have a life, unlike you.
What can their supporters say anymore?
They claimed the victims were lying and making this all up.
I guess a minimum of eight years in prison has finally hit home.
No, Jim and company probably took jobs to help pay for the professor that Jon and Tom assumed would work for free and not get paid like everyone else.
Imagine that? Not expecting to pay the people they owe. I bet their lawyers asked to be paid up front knowing their pathetic dirty history.
How are they being allowed to pay for expensive experts when they cannot even pay the judgments they currently owe?
Truly shocking.
Romack Franklin (Ronnie) home was foreclosed on. Look at the Hennepin County sherrifs foreclosures. There is a God. For sure
Let me guess , he financed the hell out of it and let it go? TJ style
Sadly "Romack S. Franklin" and "Ronnie Cook Franklin" appear to be two seperate individuals. I don't know if "Romack" had direct ties to the "TJ Waconia Bunch" but "Ronnie Cook Franklin" was all over many of the 160+ properties per the 'Rental History' on the City of Mpls Property Records...
"...but in arguing for a continuance, attorneys said that Helgason and Balko underestimated the funding challenges of retaining Adams."
You mean like ACTUALLY PAYING ADAMS CASH MONEY??? That's not how T.J. Waconia works, baby!
"You mean like ACTUALLY PAYING ADAMS CASH MONEY??? That's not how T.J. Waconia works, baby!"
Really? You appear to have a solid knowledge base of how the company "works."
Enlighten us on how they "Work." Fact over opinion.
Fact, guilty of fraud.Federal crime punishable by 8-10 yrs in prison
God, get it over with. Send them to federal pound you in the ass prison already.
Fact: The clock is ticking... tick tock all you fans of the Balko-Hellgo crew...
Charges:
The defendants agree to plead guilty to Count 1 of the Information, which charges the defendants with mail fraud, namely, a mortgage scheme, in violation of Title 18, United States Code, Section 1341.
Base Offense Level:
The parties agree that the base offense level for these offenses is 7.
Role in the Offense:
The parties agree that the offense level should be increased by 2 levels, because the defendant played a managerial role in the conspiracy. The government contends that the offense level should be increase by 2 levels, because the defendant (Helgason), a licensed real estate agent, abused apposition of private and public trust.
Facts:
From in or about 2005 through
2007,in the State of Minnesota, the defendants conspire to execute a scheme to defraud and to obtain money by means of false and fraudulent pretenses, which operated as set for the below.
From 2005 through 2007, pursuant to the scheme, Helgason and Balko, through the TJ Group, purchased approximately 162 properties throughout the metropolitan area. Helgason and Balko would resell the property within a short period of time to an “investor”. Oftentimes, the TJ Group would resell the property at a price approximately $20,000 to $60,000 higher than the price at which the TJ Group had purchased the property, after owning the property for a short period of time. The purchase price was set by Helgason and Balko and was not the product of arms-length negotiation.
“investors” were told by Helgason and Balko that the ‘investor” was simply “lending” his or her credit to the TJ Group in exchange for which the “investor” would receive a payment a the closing, typically $2,500 and the promise of an additional payment after two years when they were to re-purchase the property.
Through the scheme, the defendants perpetrated a fraud on the lenders who were led to believe that the “investors” were the actual owners of the properties, when, in fact, the “investors” ownership was in name only. During the two-year period which the “investor” owned the property, the TJ Group was responsible for all payments and maintenance on the property. Helgason and Balko, through the TJ Group, was to make payments to the “investor” equivalent to the mortgage payment on the property, such that the “investor” was to have no financial obligations for the property. Helgason and Balko also made arrangements for the seller of the property, the TJ Group, to provide some of the funds to pay the buyers portion of the property purchase price. On those transactions, the loan documentation utilized fraudulently indicated that such funds were provided by the buyer.
With regard to many of the fraudulent transactions, Helgason and Balko also worked with other individuals to provide lenders with false loan applications that would over state income to qualify people for the loans.
During the course of the scheme, Helgason and Balko used most of the funds obtained by the TJ Group to make payments to “investors” for the purpose of making mortgage payments, thereby keeping the scheme afloat, and purchasing new properties for new fraudulent transactions. Ultimately, the scheme collapsed: the TJ Group did not re-purchase the properties or continue making payments to the “investors” for making payments toward the mortgages. “Investors” were left owning properties purchased with mortgages that exceed the market value of the property.
WTF is that crap???
What is your source for what you posted for Charges, Base Offense Level and Role in the Offense??
The rest after that is merely a copy of the FBI affidavit submitted to get a search warrant. Other than the Strib, what you posted is about the oldest info there on this subject.
It is the exact information from the Guilty Plea. We have a copy of it as well.
"WTF is that crap???"
Why it's the found guilty crap all over the Tom'n'Jon show. And that show is almost all over for them as well... What a relief?
"And that show is almost all over for them as well... What a relief?"
Kinda sad, but not really that this blog will turn into a ghost blog soon.
Will you be latching onto someone else as a victim then?
Yeah...we really enjoyed being victimized.
We can blog about prison life?
"Anonymous said...
We can blog about prison life?"
Or you could get a life.
Does anyone know where they will do their time?
“Imprisonment is negative. It takes all. It gives nothing. It takes from the prisoners every interest, every ambition, every hope; it cuts away, with a course disregard for personality, all that a man did and loved, all his work and his contacts, and gives nothing in return.”
- this is just a thought from one of the greatest minds that entered the world of the criminal justice system and criminal theory, frank tannenbaum. I would just like for people to ponder upon this thought
Prisons are not suppose to give back. They are for punishment and to protect socieity from criminals.
Hearing set for Thursday, 4/16/2009
9:30 AM in Courtroom 13W, @ U.S. Courthouse, 300 South 4th Street, Minneapolis before Judge Ericksen.
People like these who intentionally , unremorsefully, do this much damage to a city (we will never know the full extent of damage) deserve prosecution to the fullest.The pain they have caused to lessor income people while watching from million dollar homes , must never be forgotten.No, the economy is not to blame , only ignorant greed.
I agree, anyone in north minneapolis who purchased a home between 05 and 07 payed way to much do the this fraudulantly beefed up market
Holly cow! Could this be what caused the recession?!! PUT THEM AWAY FOR LIFE
"Holly cow! Could this be what caused the recession?!! PUT THEM AWAY FOR LIFE"
Works for me!!!! Let them play the man card and pay for what they did.
how do you all figure that they dont feel bad for what they have done i can guarentee all of you that they look at this will the most regretful eyes in the world...god i cannot believe how closed minded and stupid so many of you people on here are...get an education and learn enough information that you are resourceful enough to criticize anybody. because quite frankly i cant even read some of the things you people write...i bet you wouldnt say these things in person to anybody because you know your an idiot.
Holly cow! Could this be what caused the recession?!! PUT THEM AWAY FOR LIFE
Are you kidding me, please don't tell me that you are really that ignorant. To the last post, you are absolutely correct, IDIOT'S. Some of you really need to go back and get a high school education.
Look at how many taxes aren't being payed causing layoffs!!!!
This is exactly the fiscal irresponsibility that caused the depression we are in, you can pay some proffesor to blow smoke up the judges ass, but that defense is a pathetic attempt to distract people from the crime commited and the never ending trickle down effect of damage and harm done to the people of Minneapolis , and all over minnesota for that matter
"Are you kidding me, please don't tell me that you are really that ignorant. To the last post, you are absolutely correct, IDIOT'S. Some of you really need to go back and get a high school education."
So you think all the victims are idiots? The city of MSP, the neighborhoods, the taxpayers, The banks, the friend interim buyers.
So you think all the victims are idiots? The city of MSP, the neighborhoods, the taxpayers, the banks, the friend interim buyers.
They are criminals and the supporters can no longer deny this. The supporters of T&J have called the victims on this blog liars and exaggerators with no credibility. That poor T&J did nothing wrong and the victims should just (and I quote) "shut up"! That you would show in the end that the victims were all wrong.
I guess you, the supporters, were the ones that had no idea what you were talking about.
Who received the "education" in the end?
Hey! How many of you Helgy-Bilkie supporters are going to turn out for this:
"Hearing set for Thursday, 4/16/2009 - 9:30 AM in Courtroom 13W, @ U.S. Courthouse, 300 South 4th Street, Minneapolis before Judge Ericksen."
Hopefully it will be a satisfying day for all!
franeHello Victim T or should I say irresponsible T!!!! or Crybaby T. I am not sure who is what or who is who but why cant people be accountable for their own actions anymore. I dont completely understand what the scheme was but who are the idiots that paid so much for these homes to begin with? Is it your regret that you have made a huge financial mistake and just need to blame someone else so you dont have to be responsible to pay this debt back. Whatever loans were put out there if you sign the dotted line you pay it not who asked you to sign. People have gotten so carried away with needing more then what they can afford and going into huge debt and then when times get tough they blame someone else. I dont believe anyone out there can get what they paid for their house right now and maybe never again but that is part of life. Move on!!!!!!
Life is what you make of it. Look at yourself not your neighbor. Plant your own f@#$#$@ garden and get a life. LET IT GO!!!!! You screwed up and stop blaming Tom and John for out smarting you!!!! Idiot!!!!! Pay your F@W#$@#$@# mortgages and shut up!!!!!
People who play the victim card with every part of their life make me sick. Everyone jsut wants a hangout and for someone else to pay for this problem. Let the fed deal with them and instead of writing in the blog everyday GET A JOB!!!!!!!!
Now that is the most pathetic response in favor of tj yet .How was one to know the north mpls market was artificially inflated by crooks (who pled guilty to fraud by the way) all of the comps in that area were bogus. You can defend those who plea guilty, it just sounds really, really stupid.
I agree the be responsible speal is very ignoant. This person has no Idea what transpired. But , ignorance is bliss!
"You screwed up and stop blaming Tom and John for out smarting you!!!!"
Wow. On the day of sentencing these two losers (yep... they are guilty and that = they lost everything they ever worked for) a comment like this really puts a giant question mark over my head for all to see... I wonder if this brilliant person meant "out smarting" to mean "defraud"... hmm.
I say "continue to blame" them for what they pled guity to... and continue to persue them as long as it takes to recover!
"GO T AND J!!!" (to jail!)
You are next Jim Watson!! Hide under your rock because you are NEXT !!!
His name is spelled Watkins.
So here's the breaking news:
96 months for Helgason, 84 months for Balko. It just seemed right to post the info on this blog before my own blog.
Nobody won here today.
Nobody "won" but there was "justice" in those sentences! My first question: Did anyone get photographs of those two convicted and sentenced assholes???
Wow. Yes, WIN. The justice system (Honorable Joan N. Ericksen) understood the game that was played by the TJ Waconia team. The prosecution (Joe Dixon and Team) were un-stoppable with the compiling information and the true fact’s that came out in court today.
A clear message for the Helgason and Belko camp maybe you should look up the word. “Sociopath”
Any of you fools that where dumb enough to fall for such an obvious scheme deserve to loose your money and your credit. There is no easy way to make money fast and you suckers learned it the hard way. So stop whining about it. They approached me with there straw buyer program and after about 3 minutes of them explaing it to me I laughed and said good luck with that one. I guess driving a truck for a living has taught me some common sense. By the way Tom and John will most likely wind up at the Federal Prison Camp in Duluth Minnesota so you can all get on the visiting list and go see them on the weekends. The little retaurant on the road in has pretty decent coneys. You know us truck drivers always know where the best food is.
Last time I got a loan for a mortgage all of my personal information that is on the application needs to be verified and signed by me. Also if I am getting a loan for a large amount of money for something such as a mortgage I know what I can afford and if someone can get me a loan for an amount I cant afford but I am willing to take the loan because its an investment then that is the investors problem.
my point is that all the investors that took advantage of the investment opportunity that did not pan out are just as guilty as them, you would not be complaining if things paned out the way they intended. and I highly doubt that they caused the depression we are in and if they are so talented to cause such an event across the country then they should not be in our prisons shit they should be the president, b/c that is talent and I would love to meet these two someday.
Maybe you can meet them in jail. Today (May 28th 2009) they are supposed to report to prison and begin their sentences.
Victim T how do I contact you? My name is incorrectly listed on your blog and I would like it removed.
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