Once upon a time there was a frame, 2-story home located at 350 Abbott Rd. in South Buffalo, NY. It was built around 1920, like all the other frame structures that line Abbott Rd. on both sides for miles.
The home was built well, had good owners for years, but fell into the hands of fraudsters and scammers. It became a victim of white collar crime.
Why was this structure demolished? Why is there only a vacant lot there now? 350 Abbott Rd. never had a chance once Kathleen Martin, A.K.A. Kathleen Flynn, got her hands on it.
According to Erie County property records, 350 Abbott Rd. was purchased by the Lackemier family in 1974. It was well maintained, landscaped well and fit in perfectly along this middle-class, blue collar neighborhood.
In 1981 it was purchased by the Clarke family, once again, it was maintained, repairs made as needed and the mortgage always paid on time.
Then in 1989, it was purchased by Kathleen Martin, A.K.A. Kathleen Flynn, a vice-president of the mortgage department of M & T Bank in downtown Buffalo. It was the beginning of the end for 350 Abbott Rd.
Martin enjoyed the house, during the 1990′s, but soon began to dislike the area and decided to move to Orchard ark about 1993. Martin, then turned the long-time owner occupied property into a rental property. Martin then purchased a condo in Largo Florida and rented the Abbott Rd. property, often re-financing to suck out the available equity and never really reducing the principal balance. By 2003, Martin grew weary of maintaining the property and tried to sell it. After a year, with no bites, Martin decided to refinance the home once more, this time, turning to a rival lender! Martin had a mortgage with M&T, but as her employer, they had recourse on her if she stiffed them and stopped paying the mortgage. So, Martin, well versed in the business of mortgage, re-financed through Charter One Bank and Wells Fargo.
Martin paid off M & T and stiffed the rival lender, never making even 1 payment! Some call this mortgage fraud, some say white collar crime, some simply wink and nod at Martins corruption!
After the Martin fraud, the home was foreclosed and now bought by East Coast Capital Company. This time, scammers, Joshua and Jessica Douchette bought the property and began their own mortgage scams, Ponzi schemes.
In May 2007 word of these scams was brought to the attention of then-Attorney General, Andrew Cuomo. Cuomo prosecuted the Douchettes and the property sat vacant until 2010. Finally, after mortgage fraud by Martin, and house scamming by Douchette, 350 Abbott Rd. was purchased by a dentist, who privately tore down the structure, way before its time.
All that remains now is a vacant lot. The Douchettes were punished but ironically Martin is still employed at M & T Bank and continues working in the mortgage industry untouched by her fraud and financial misconduct.
Justice or business as usual for M & T Bank? They got their money in the Martin re-fi, so they wink and nod at Martin’s corruption!