FD tried up until 2015.
IMO, FD tried to run a business up until FIL passed away peacefully at the age of 83 in January of 2017. Primarily, FD wanted to be successful, in his own right, as a businessman. FD may have also wanted a vehicle to transfer funds to his sister for architectural services rendered, but I don't believe that FD began the business as a fraudulent scheme to divert funds. Several houses were built and sold in the Avon/Farmington area, significant lobbying was done to build a road in Farmington Valley in between protected land trusts and the 2008 modest "Home Transformation" strategy probably showed potential, which is a sane way to begin and likely had the approval of FIL. FIL would have held FD's feet to the fire for every penny of the loans that were extended and repaid while he was alive, IMO.
Photos: are they deceiving or can they tell a story?
A lovely family picture from 2015 shows the family together celebrating FD's win as Builder of the Year. This was the same event where the FORE team was photographed with the nanny/FORE key employee front and center with two children, IMO. Still scratching my head about that given the alleged history of nannies performing tasks for FD above and beyond taking care of children. But I digress. While a marriage's history can be puzzling to outsiders looking at a few pictures at a party, IMO, FD's believed he would become rich in his own right as a builder (with financing by FIL) back in 2015. FD had the support of his wife and her family in 2015, IMO. JD was front and center, an integral part of the design team on the Wayback Machine FORE website. IMO, the classy good taste ended when JD withdrew to take care of children.
FD went broke in 2017, sometime during his foray into New Canaan, his Waterloo, MOO.
And then, IMO, FD went broke, as novices dabbling in real estate in Fairfield County tend to do, particularly after private funding from FIL dried up and no local banks would back FORE building in Farmington. The July of 2017 purchase at $1.7mm sunk all of FD's own equity, IMO. The foray into New Canaan was made primarily to stalk JD, IMO, and the build was done on the cheap and with cost overruns, IMO. FD is broke or worse than broke, IMO. The only asset that creditors are looking to liquidate pronto is 61 Sturbridge Hill, New Canaan, open house today 11 am to 1 pm, IMO. The purchase mortgage holder Danbury Savings Bank wants their money back. Then the friends of FD. IMO, FD's last stand is selling 61 Sturbridge, which I believe was his nest egg, all the savings he squirreled away. I think MT was sent on wild goose chases by FD, he would never trust her with his savings. Like the tradespeople, MT and the benefactors were tricked.
Can't stop believing?
Perhaps the benefactors still believe that FD can convey the deed to 61 Sturbridge to repay outstanding loans not already represented by liens. IMO, there is no equity after the bank is repaid, with interest. FIL just wasn't good at costing his houses, despite Ernst & Young and the math degree. Property taxes, insurance, interest, landscaping can be killer. Fairfield County homebuyers are savvy and know how to nickel and dime builders. I would expect a custom build designed by a renowned architect for $4mm, not a cookie cutter McMasion, good for a tear down except the lot is way too small. Any buyer paying more than $2.3mm would be 1) insane and 2) lining the pockets of friends and benefactors of FD. FD is broke, broke, broke. How the attorneys are being paid is curious. FD is not paying them at this point, IMO.
