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Catering Conundrum
Jenifer McAndrews A Warning for Baby Boomers Thinking of Starting a Business
February 19, 2013
By: Jenifer McAndrews


If starting a new business late in life means spending large chunks of your savings to finance, it may require some extra thought.

John Sanders and his wife Gloria, a caterer by trade, dreamed of converting an old church into a party venue. Catering big events would be the couple's next big adventure.

But first, the Sanders would need a mortgage to purchase the $1.6 million dollar property. They asked their real estate agent for help finding a mortgage broker.

The mortgage broker, Ann Ursiny, promised to help the Sanders get the financing they needed.

Ursiny strung the Sanders along with phony feed and permits that cost more and more money, until they ran through their savings.

Over 4 years the Sanders lost about a million dollars. Draining their savings, checking and 401K retirement funds.

Postal Inspectors say only work with people you know well, especially when large amounts of money are involved.

As for Ann Ursiny- she eventually confessed to the scheme, is serving a six year prison sentence, and was ordered to pay restitution to the Sanders’ but the couple is not optimistic they will get their money back.


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