Charlotte Beach real estate transactions involving Michael Malik haven't been impacted by any so-called "cloud" over title

Over and over again, Members of Congress and others who’ve testified before Congressional Committees relative to the Bay Mills Indians’ Charlotte Beach land claims have suggested they've been told that "clouded" title over Charlotte Beach property has resulted in across the board hardships for current property owners including loss of property values, inability to secure mortgage financing and an inability to obtain title insurance.

CONGRESSMAN NICK RAHALL
Chairman of the House Natural Resources Committee:

"Currently, some 100 non-Indians reside in this area under a clouded title to the land…"

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CONGRESSMAN BART STUPAK
Author of H.R. 2176 (a bill to grant by Act of Congress approval for the Bay Mills tribe to locate a casino off-reservation in Port Huron, MI):

"With a cloud on their title, the Charlotte Beach property owners have been sued, have had a difficult time trying to secure real estate loans, cannot get title insurance, have experienced lost real estate values as well as significantly lower property values…"

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ATTORNEY LANCE BOLDREY
Former Deputy Legal Counsel for Michigan Governor John Engler and Attorney at Dykema Gossett PLLC:

"Today, the families who own land in the area known as Charlotte Beach have a cloud on their title and are unable to obtain title insurance or mortgages…"

REALLY?

But Property Values Have Increased; Ask Michael Malik

Over the last decade the sale of Charlotte Beach lands involving Bay Mills Casino promoter Michael J. Malik, Sr. would suggest something different than what these other officials have reported. Perhaps Michael J. Malik should set the record straight with these folks and everyone else.

In October 1996, James F. Hadley of Columbus, OH, acquired what would later be resold as two parcels in the Charlotte Beach subdivision for $200,000 total from Linton V. Schopp of Detour, Michigan and members of the Mosher Family.

Eight years later, Mr. Hadley’s estate sold the property in two separate transactions of equal value on the same day (November 9, 2004) to:

(1) Michael J. Malik (MJM Charlotte Beach, L.L.C.) and

(2) Malik’s one-time business partner Tom Celani (Luna Properties Charlotte Beach LLC) for a combined total of $242,602.78.

The Hadley Estate realized a 21.3% increase in value on its eight year Charlotte Beach property investment.

One year later, Tom Celani sold the property he previously acquired from the Hadley Estate for the sum of $121,309.39 to: John D. Castagne & Lannie K. Castagne, and Eugene G. Castagne & Catherine Castagne of Sault Ste. Marie for the sum of $190,000.

Celani realized a 56.6% increase in value on his one year investment.

In January 2006, Michael J. Malik sold the property he previously acquired form the Hadley Estate for the sum of $121,309.39 to: James M. Reed and Beth E. Reed of Tulsa, OK but he requested that the sales price be kept confidential.

TIMELINE