Loan scammer turns to medical marijuana, opens Cobra Medical

Local News | Lender seizes desperate borrowers' homes | Seattle Times Newspaper

an excerpt..."Following Kandi's instructions, Marsh signed a promissory note for $170,000, even though he was getting only $17,000. Kandi later said he inserted the tenfold figure to protect himself financially and to pay for any future legal costs.

Kandi also had Marsh sign over his rights to the property using what is known as a quitclaim deed. According to the terms of the loan, if Marsh missed repaying any amount, Kandi could take possession of the house immediately, using the deed. This maneuver enabled Kandi to take the home without going through foreclosure, which includes a 190-day waiting period and several consumer protections.

Deb Bortner is director of Consumer Services for the state Department of Financial Institutions, which regulates banking and mortgage lending. She said making a borrower sign a quitclaim deed for a loan to save his house is a red flag. "That's a scam," she said.

It was common practice for Kandi to have borrowers sign quitclaim deeds...

...There are several unpaid judgments against Kandi, including nearly $1 million to the IRS."

His name is Emiel Kandi and according to the article, he started Cobra Medical Group in Tacoma.

Looks like just the kind of person we don't need in the movement. Keep getting the word out so that everyone avoids him. He's in it for the money only so he would turn on you in a second.

he might also be doing it for the snitch reward.

what he's getting with a dispensary is peanuts for his loan sharking. :wtf:

Quote:

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Originally Posted by gypski

what he's getting with a dispensary is peanuts for his loan sharking. :wtf:

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I dunno, his modus operandi in the loan sharking was to get people's property.

someone with lots of scammed properties would be able to setup a lot of grows.

he claims they have 800 members, if he's got several grow houses going from all the houses he's scammed off people, he could easily meet their needs.

he might be pulling way more from the dispensary.

and he also would be attracting a lot less attention from the IRS in an all cash game that people are less likely to sue you over.

Quote:

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Originally Posted by justpics

I dunno, his modus operandi in the loan sharking was to get people's property.

someone with lots of scammed properties would be able to setup a lot of grows.

he claims they have 800 members, if he's got several grow houses going from all the houses he's scammed off people, he could easily meet their needs.

he might be pulling way more from the dispensary.

and he also would be attracting a lot less attention from the IRS in an all cash game that people are less likely to sue you over.

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He is right about one thing, the law is a train wreck waiting to happen and there is usually one a day with a patient. :wtf: It just needs for the plant to be freed and let the market work itself out after removing people like this, just like the banksters and mortgage bandits want it to be. Home gardens will pop up like mushrooms with true legalization!! :D

Quote:

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Originally Posted by gypski

Home gardens will pop up like mushrooms with true legalization!! :D

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And some will do well and others will not make it. There will be those that grow stuff that just knocks your socks off and those that grow good stuff. Each will earn a reputation for their specific good stuff and probably do well.

At least that is MY dream. :stoned:

Thats the way a free market system is supposed to work. Thats why I've always been against patents. If you have a good product people will buy it.

justpics, nuglover,killerweed420 what are you doing for the movement?

Media sensationalism at its best..
If I told you that cannabis is pure evil, would you believe it?
If I told you that Bush was our greatest leader, would you praise him?
If I told you that .��?

Well this story is one sided brought to you by a vicious lawyer who coincidentally had a friend at the Seattle times whose only interest in writing this article was to discredit a foe before taking his clients to the courtroom and like sheep, others with a stroke of a pen lavished in this attack, Iâ??m not saying Emiel isnâ??t arrogantly selfish because that he is, and he is defiantly a wolf but a wolf doesnâ??t just prey on victims he also protects what he has. Its easy to shorten the story and leave out facts that express the big picture but the fact is these few people were looking for a last chance to save what they were loosing, took a hard money loan, missed there payments and lost their collateral. I hate to see it happen but thatâ??s how it works. Heâ??s not a crook, heâ??s just a person who sticks to his rules. Now what the article doesnâ??t say is all the people who, through a hard money loan from Emiel were able to buy or save their homes, started businesses, buy cars and enrich their lives. He does far more good than is given credit for.
As for cobra, itâ??s a business and yes money would be the bottom line but Emiel has struggled and worked diligently to help bring dignity and legitimacy to the cannabis co-ops and dispensaries in Tacoma. The staff at cobra are by the book, friendly and professional and are the leaders in what a dispensary should be. He has led the fight and was willing to be a media target to allow people safe access to the medicine they deserve.
Emiel and I may not see eye to eye on our morals and beliefs and to call him a friend would be stretching it but our beliefs to the cause are true and we are able to sit at a table together and fight for proper medical cannabis laws for the greater good of the patients.

Below are a few articles showing the side that has been left out.

Spew Blog - Weekly Volcano - The alternative newsweekly for Tacoma and Olympia

Tacoma backs down from threat to shut down medical cannabis clubs | Cannabis Defense Coalition

I love the rebuttal that because someone appears less-than-savory due to their actions doesn't necessarily means that the things they do are less-than-savory.. That argument seems to be a common tactic of the media, and the rebuttal trashes media sensationalism... Be careful my friends, too many paradoxical arguments like this might just rip a hole in the fabric of reality. :D

Quote:

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Originally Posted by ksnowmon

but the fact is these few people were looking for a last chance to save what they were loosing, took a hard money loan, missed there payments and lost their collateral

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Wrong.

Kandi tried to use a commercial loan (which lacks consumer protection) to lend money to someone to save their MORTGAGE. That's, ILLEGAL, as if you are lending someone money for their MORTGAGE, different rules apply.

That's why he owes that gentleman from the article over 200,000 dollars.

That's why he has more judgments against him in the court adding up to over a million dollars.

He should pay back the people he legally owes money to.

This is the world of capitalism that we live in. The end justifies the means. How ever you make the money is ok. Its a mindset. And it is usually caused by a disease called sociopathy. Its the ability to not care about anyone else. Its not that sociopaths don't have feelings, they do. Its just that sociopaths only have feelings about things that directly relate to themselves and so empathy is lacking. Money and power is usually there god and because of that everything else comes second.

Here is a bit more to the untold story...

...the 17,000 was to pay outstanding property taxes, then it was for a buisness venture that was never started. there is a large grey area of information that wasn't told

beachbum79 says:
November 18, 2010 at 12:41 pm
The Seattle Times article does not even begin to tell the whole story. I know Kandi, and I am also the person who referred Jeff Marsh to Kandi. I did not receive nor ask for a referral fee from Kandi. Marsh worked for some people I know, I heard about his issue with the Tax Man. Marsh was ready to get a loan with another hard money lender but I spoke with Emile and he agreed to give Marsh a loan for 5% less than what he was going to get from the other guy. I told Jeff that this was his last chance and not to miss a payment, others did as well. Jeff missed a payment and cried foul when his house was taken away. As for Provost, (the single mother) she signed her documents at Ticor title. It took her 2.5 hours to sign them. She also made changes to the contract that she did not feel comfortable with. She also asked and received 2 extensions from Emile. The news paper also "forgot" to mention that she sued Emile 2 days before her contract was even due and that she walked away from the signing with a $24,000 check that she was to use to remodel the house in question. My question is why is this not in the paper and why is the News Tribune not asking these questions. Oh, by the way, I have copies of the documents (that I got from Emile) if anybody at the TNT wants to do their job...

And justpicsâ?¦ Iâ??m affiliated with some of the employees as well as Emiel .(like I already said, It would be a stretch to call him a friend and I have no reason to protect him but I would like the real story to come out) I know personally that the cannabis that is donated comes from patience! These insinuations about scamming houses for grow ops are off the wall. Perhaps you should apply for the Seattle Times!

The judge(s) handing out judgments disagreed with your assesment apparently.

I don't know where Kandi gets his meds from. Someone asked why anyone would move from commerial loan sharking to mmj and I explained how it could be more profitable.

I seriously doubt someone with millions in legal judgments against including from the IRS is being wholly honest about their books in their mmj dispensary but that's just speculation.

Been to Cobra and Northend 420 and Cobra was quite a bit cheaper with just as good quality.....