Opinion ID: 2464762
Heading Depth: 4
Heading Rank: 5

Heading: Wells Fargo foreclosure of the Project

Text: At the end of June, Jobe turned over the Norway account to Gerard Diemer in the Credit Management Group at Wells Fargo. On June 28, 2007, Safar's bookkeeper faxed an estimate to Diemer of $446,000 to complete construction on the Project and $529,000 in outstanding payables; the total estimated overrun was $975,000. After several meetings with Bjorn-Roli, Wells Fargo decided that no reasonable work-out agreement could be reached and decided to proceed with foreclosure. Diemer visited the Project site in early July and found Safar and his team working. When Diemer discovered that Bjorn-Roli had not informed Safar that he should stop working, Diemer called Bjorn-Roli, informed him that Safar was still working, and handed the phone to Safar so that Bjorn-Roli could tell Safar to stop. Safar informed Diemer that he had a tape recording of Jobe promising him that he would be reimbursed for the money he spent on the project. Diemer conducted an extensive investigation into Safar's allegations and concluded that there was no evidence to substantiate any of Safar's claims that Jobe had promised to reimburse him. Safar later admitted to Diemer that he had no recording and that a friend had suggested he bluff about the tape to get the bank to reimburse him.