Business and Economics

Merrillville Couple Loses Appeal To Keep Their Home

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August 26, 2013 — The Indiana Court of Appeals ruled against a Merrillville man who declared himself a bank and then proceeded to issue his own money, which he then reportedly tried to use to pay off his home mortgage.

The recent appellate court decision said U.S. Bank was entitled to foreclose on Derik and Tammi Blocker’s home for failing to pay their mortgage, despite Derik’s insistence that the U.S. Treasury should do so.

The appeals court suggested that Blocker’s claims stem from the “Redemptionist Movement.” which came about after the United States stopped tying its currency to gold in 1933.

According to Wikipedia, the movement also asserts that common citizens can gain access to funds in secret accounts using obscure procedures and regulations. The FBI lists “Redemptionist” and “straw-man” financial arrangements as common fraud schemes and it warns Americans not to buy kits or services from fraudsters who claim they can access secret bank accounts.

The Blockers still can ask the Indiana Supreme Court to review the Court of Appeals ruling.

 

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