Donald R. Shields

Mortgage Broker

Current Location:      Portland, Maine

 

Indictment on Forgery charges in Lincoln County:

  • 15 September 1998       A Grand Jury indicted Donald Shields on 5 counts related to forgery. He was arraigned on 2 October 1998. A trial that was expected in December has been postponed continually upon the request of Shield's attorney, Ricky L. Brunette.
  • The Ricky L. Brunette affidavit associated with the request to postpone the trial states:

    "The trial of this matter will be significantly simplified and potentially avoided in its entirety if trial is set for a date following Mr. Shields sentencing which may occur as soon as February 1999."  [this refers to Mr. Shields sentencing relative to a guilty plea in the US District Court for mail fraud and structured currency transactions ... noted below.]
  • Does this mean that Shields can somehow avoid a penalty for alleged forgery?  Is there a deal with someone or some organization?

Legal Proceedings Against Shields Registered in United States District Court (Maine):

Donald R. Shields pleads guilty to mail fraud and structured currency transactions.
Click here to see agreement and release conditions.

 

Disclosure Hearing 1 June 1998 in the West Bath Court:

In a disclosure hearing the purpose of which was to try to locate any assets of Mr. Shields for a claimant.  Donald R. Shields claimed essentially no assets and only occasional tax work for income.   He claimed that during the last couple of years several million dollars passed through him but nothing was left.  He claimed that he had no off shore accounts.   He did say that he had made a trip to the Cayman Islands.
Yet it is later discovered:
  on 31 May 1998  (the day before the hearing) Shields faxed a list of "projects" citing huge values and commissions to another party.  This was not mentioned at the disclosure hearing. 
beginning about March 1998 Shields is associated with Tidewater Investments in a deal to broker securities from Financial Systems of America with huge returns.  This was not mentioned at the disclosure hearing.
he has stated in past conversations (not sworn testimony) that he did have off shore accounts and commented on the benefits of moving money to the Cayman Islands. 

A claimant is offering a reward for any information on any assets of Donald R. Shields.

Foreclosure:

10 July 1998   Shield's house in Edgecomb at 795 Cross Point Road was foreclosed on.
The property was bought for $185 K by Scott Lane whom Shields had previously testified that he had given $3000 to assist Lane in buying the second mortgage which was previously foreclosing. Lane after purchasing the Second mortgage, cancelled that foreclosure. Now after the foreclosure by the First mortgagee, Lane has ended up with a purchase and sales agreement on the property and the approximate 10 additional lien holders on the property (with liens totaling about $800K) are left without collateral by the foreclosure process.

Bankruptcy:

1993         declared personal bankruptcy (date approximate)
1997         considering additional bankruptcy strategies, according to his lawyer
                     in a disclosure hearing in West Bath District Court

Legal Proceedings Against Shields Registered in Lincoln County:

Note: the following is only a partial list of proceedings against Donald R. Shields
All of these are taken from public records at the Lincoln County Registry of Deeds in Wiscasset, Maine ... other sources are indicated
The "+" on dollar amounts indicates additional interest and legal expense charges
Writs of Execution against Donald R. Shields (et al in some cases):

$145,850 +         30 DEC 96         Book 2208 Page 216
$  16,181 +           5 FEB 97          Book 2216 Page 341
$  19,745 +           7 FEB 97          Book 2217 Page 225
$  35,094 +         31 MAR 97        Book 2227 Page 279
Total = $216,870 +

Judgement of Foreclosure and Order of Sale of Residence of Donald R. Shields:

$ 154,566 + per diems      8 JAN 98      Book 2236 Page 37

Additional parties-in-interest listed:

$   84,607 +         Book 1926 Page 153
$   14,985 +         Book 1954 Page 166
$   12,225 +         Book 2123 Page 185, 187
$   30,000 +         Book 2154 Page 310
$   26,121 +         Book 2176 Page 56
$   21,518 +         Book 2217 Page 225
$   19,027 +         Book 2210 Page 259
$   35,000 +         Book 2227 Page 279
$ 640,000 +         Book 2257 Page 129
$     7,413 +         Book 2270 Page 129
$   11,066 +         Book 2276 Page 189
$     5,297 +         Book 2282 Page 156

Parties-in-interest Total = $907,259 + per diems

Total liens on property = $1,061,825 + per diems.


Legal Proceedings Against Shields Registered in Penobscot County:

Note: the following is only a partial list of proceedings against Donald R. Shields
This was taken from public records at the Penobscot County Superior Court

CV-96-340    involves the "trading Program" and an unrepaid note for $ 25,000

 

Shield's Assets:

In a disclosure hearing on 3 February 1997 in West Bath District Court Donald R. Shields claimed that he has essentially no significant assets.

In a disclosure hearing on 1 June 1998 in West Bath District Court Donald R. Shields again claimed that he has essentially no significant assets.

 

Shield's Corporations (Past and Present):

Fort Hill Financial               minimal assets claimed in disclosure hearing
Fort Hill Realty Trust         no assets claimed in disclosure hearing
Rockport Financial             no assets claimed in disclosure hearing

 

Shield's Corporate Associations (Past and Present):

Flexible Mortgage               Corporation filed for bankruptcy in NH
                                                 All corporate officers filed for bankruptcy
                                                 Reportedly deceased recipient of large loan from Flex
                                                 miraculously found alive and living well.
Delta Group

Shield's Associates (Past and Present):

Armand Pelletier        President, Fort Hill Financial, Inc., left Bangor area suddenly

Ingrid Kiefer              Subject to criminal prosecution in NH for theft / fraud of $350,000
                                       Subject to criminal prosecution in MASS for theft / fraud of $266,000
                                       declared bankruptcy July, '95
                                       Contact: New Hampshire Attorney General 603-271-3658, try Chris                                         Domian