In the alleged scheme, a troubled homeowner transfers the title of the home to so-called rescuers, who then take out a new mortgage and pocket the equity. “What they ended up doing is stripping out somewhere between $90,000 to $120,000 of equity, quit paying the loan and now the people are facing foreclosure again,” said Vallee [ attorney for the plaintiffs].

Normally, we would condemn such behavior, if true. But this is Anwar Phillips we’re talking about here. In 2002 a Penn State tribunal suspended Phillips from school for two semesters after he “accepted responsibility” for his role in a sexual assault. Phillips was later acquitted by a jury in a criminal trial arising out of the same incident.

For Phillips to graduate from alleged campus rape-o to alleged white-collar bankroller is a sign that his life is headed in the right direction. Keep living the dream, Anwar!