UNFINISHED BUSINESS: Homeowners claim builder took bank draws, deposits and never finished houses

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Published 2024-07-01
We investigate why more than a dozen homes in two different Lincoln County, NC subdivisions were left unfinished, years after closing and building permits were issued. Our ‘Unfinished Business ‘ investigation uncovers the players and the companies connected to Mario Cotto.

REPORT:

www.qcnews.com/news/investigations/unfinished-busi…

All Comments (21)
  • @viv4843
    You have the book thrown at you for stealing a Snicker from Walmart but others get to walk off with $150,000 of someone else's money and face no consequences. We have some backward laws in this country.
  • @crewmax4240
    A "builder" who can't even replace the downspout on his gutters but has a Super Duty sitting in his driveway is a red flag.
  • @provoking3449
    Attorney General needs to subpoena bank records and do forensic accounting. Follow the money!
  • This is a RICO case. The bank the builder the realestate ahent and the 2 contractors. They all need to go to jail ! Why arent the prosecuters doing something !
  • the bank that released the funds without an inspection is liable to all the homeowners. it's time the banks quit getting a free ride
  • @rexmasters1541
    Just look at that man's toys around his house. We all know where the money went and it never came close to building those houses.
  • @Hanszegler35346
    That AG is crooked. Love to know his personal revenue streams
  • @TheMimiof7
    I have built 7 custom homes. My youngest son has his degree in building and construction. He has built two of our homes. Every land buyer should purchase the land and make sure there is a clear deed in hand. NEVER get a new construction loan unless you the homeowner has complete control over the money and all draws. Always check with your states licensing board to make sure that the person you hire has their general contractors license. Make sure that all materials are delivered to your homesite, and never allow a builder to communicate with your bank. Always have the builder send you a draw request and make sure what you are being billed has materials used on your property and the work has been performed. I would never sign a contract with a builder that gives you a one price fits all for building your house. Always sign a contract with a general contractor on a cost plus basis. I feel so bad for all of these people. It’s tough enough building a home but to have someone rob you is frightening. I think what Cotto did was take these peoples money to purchase new land to develop, and start the same scheme over. I also think the bank holds some responsibility for releasing funds without full inspections. The AG should have done a complete investigation and charged all the parties that were involved with this scam.
  • @danaproske1072
    Time to give Jody his own show. Been following Jody for years, he has earned it. Respect
  • @mojopeep326
    AG is a perfect example of what’s wrong with government today…
  • @CLUB-th7pp
    ATTY GENERAL NEEDS VOTED OUT OF OFFICE!! He doesn’t give 1 bucket worth of warm piss about his constituents
  • @Duganoz
    This is really simple. Cotto is a crook. There’s not question. Te bank was at a minimum, complicit.
  • Mario would be living in a tent and walking to work after his house and that ridiculous Ford SuperDuty became “useless”………absolutely disgusting!!!
  • @JR-lb4ng
    Simply file a lien on all properties owned by by this POS builder and his wife and go after any reported income. Also file a civil lawsuit against said builder and his wife.
  • @aniwack
    Why is this man not in prison??
  • @tonysolar284
    25:01 Well, just by looking at those two vehicles and the truck that's as tall as the house's first floor, I'm gonna guess that's where some of the money went.
  • @Wilddaylilies
    Have I ever gone through this, no. Do I intend to build a house and hire a contractor, no. Did I watched this whole report? Yes I did. Jody always does the best investigating reporting ever. I hope these people get justice.