Bonder's empire melting away
Web Posted: 03/16/2007 01:19 AM CDT
Jennifer Hiller
Express-News Business Writer
Emerson Vance, once one of San Antonio's most successful bail bondsmen, was no stranger to legal wranglings. In addition to his job, he had several run-ins with police — and even a SWAT team — at his home.
When his license was not renewed, Vance even filed lawsuits accusing the Bexar County Bail Bond Board of racism.
But the latest chapter in his story might be the strangest.
Starting in April, portions of the vast real estate portfolio he used as collateral to issue bonds to criminal defendants will be put up for bid in the monthly foreclosure auction.
"This is a little bit different because it's Emerson Vance," said First Assistant District Attorney Cliff Herberg. "He was a constant source of controversy."
Vance owes the county $3.7 million for people who jumped bail.
(Photos by Helen L. Montoya/Express-News)
This Emerson Vance property at 500 N. Zarzamora is listed as one of those that will go to foreclosure auction in April.
Among the vast Bexar County real estate holdings of Emerson Vance, who is believed to be living in California, is this property at 2922 E. Houston St. that's scheduled for foreclosure auction.
When defendants skip bail, the bondsman owes the Bail Bond Board. Because Vance used his properties as collateral for these bonds, and did not pay all his debts to the board, the board has the right to foreclose, Herberg said.
Vance, now believed to be living in California, held a bail bond license for only six years, but in that time owned one of San Antonio's dominant bonding companies. He grew his business rapidly by offering to bail people out of jail for just 1 percent of their bail in cash, compared with the standard 10 percent.
He was also well-known to the Castle Hills police, who responded to a variety of calls to his upscale home.
In 2002, he was shot and robbed, and his housekeeper was tied up, gagged and beaten.
Also that year, the Special Weapons and Tactics team went to his house because a 22-year-old woman claimed she was being held there against her will.
More than 30 of Vance's properties are posted for the April 3 foreclosure auction on the steps of the Bexar County Courthouse, according to data from Real Estate Foreclosures, a San Antonio foreclosure listing service. They include vacant lots, commercial property, multifamily units and single-family homes.
Hundreds of additional properties will be foreclosed on in the coming months, Herberg said.
"We may have to spread some of this out," he said. "It's not possible to do them all in one day."
At one point, Vance's company had the ability to issue $36 million in bonds at any given time. But because bondsmen can post bail for 10 times the property amount, at best, the real estate Vance put on the line would have been worth $3.6 million.
Herberg believes it's unlikely the real estate will fetch the full amount through the auctions. Proceeds from the foreclosure sales will go into Bexar County's general fund, Auditor Tommy Tompkins said.
Vance's troubles started in 2004, when the county bail bond administrator received two formal complaints from former clients of Emerson Bail Bonds.
One man said his bond was yanked and he spent two nights in jail based on false information Vance gave the sheriff's department. Another said a company staffer treated him rudely and that a clerk repeatedly called him a "wetback."
After an investigation, the board found that Vance had violated statutes governing bail bond companies. In 2005, the Bexar County Bail Bond Board voted not to renew the company's license.
An African American, Vance accused the board of racism and filed lawsuits. But Herberg said those legal controversies have ended.
The foreclosure on so much property by the Bail Bond Board is unusual. At an auction typically dominated by single-family homes going into foreclosure, it's also unusual to have such a large portfolio appear at once.
County Clerk Gerry Rickoff, a member of the board, said the foreclosures remind him of when Mel Spillman's property went to auction in 2003.
Spillman was the former Bexar County probate clerk accused of defrauding more than 120 estates out of an estimated $4.9 million in cash, real estate and valuables. Spillman had bought five Ferraris, and the auction of those and other seized items yielded around $1 million.
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jhiller@express-news.net
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