The High Price I Had To Pay Lehman Brothers: Victim or Victimizer?

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"Small Fry" Real Estate Investor Does Big Time And Bank Executives Escape Unpunished.


Recently, during a committee hearing of the U.S. Senate Banking, Housing and Urban Affairs Committee, U.S. Senator Elizabeth Warren (D-MA) asked a panel of regulators, "has any banker gone to prison for their role in what happened with the financial collapse of 2008?" The panelist struggled to answer her question.

Well Jamila T. Davis, author of The High Price I Had To Pay is serving a 12 1/2 year sentence for bank fraud as a result of a $22M mortgage scheme that she was involved in with financial giant, Lehman Brothers Bank. The only problem is, Davis is not a banker. She was a 25 year-old real estate investor who alleges that she was instructed by Lehman senior associates on exactly what to do to get the loans approved through the bank's underwriting department.

In her book, The High Price I Had To Pay Davis explains in detail what happened!

"I guarantee that anyone who reads my book will be asking the same questions as Senator Warren," said Davis. "All I know is that I'm sitting in federal prison serving a 12 1/2 year sentence, and the senior bankers from Lehman Brothers who told me what to do are sitting on the beach somewhere, for all I know," Davis alleges.

"Fifty nine days after I was sentenced to 151 months, Lehman Brothers Bank collapsed due to what the world soon discovered was a massive system wide practice of overstating property values and doctoring loan documents," says Davis. "Before the collapse, Lehman Brothers Bank attorneys convinced my judge that the bank was a victim and I was a 25 year old mastermind victimizer," Davis alleges.

"My story will captivate and most likely infuriate you, says Davis. "Yes I am no angel, but I accepted full responsibility for what I did. I have from the very beginning. There is no way in a just society that I should be serving 12 1/2 years for my role in the scheme. And, the bankers who gave the instructions on how to meet the banks guideline criteria, and sent the documents back until I got them right, walked away claiming to be victims," Davis alleges.

"All I know is that when the dust settled, I ended up with a sentence nearly 7 times greater than the 24 month sentences that the seasoned lawyer who distributed the funds and the mortgage broker who admittedly told me what to do got, Davis alleges. Is that justice?" Davis stated.
Case Information:

  • United States District Court of New Jersey, Criminal No. 05-482 (JLL)
  • Superior Court of New Jersey, Chancery Division: Essex County, Civil Case No. ESX-C-103-03

Attribution- Lehman Brothers Bank Collapse and Fraud Findings

  • William Black, "Public Policy Issues Raised by the Report of the Lehman Bankruptcy Examiner," prepared for the U.S. House Committee on Financial Services, April 2010.

  • The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the U.S., January 2011.
  • Wall Street and the Financial Crisis: Anatomy of a Financial Collapse," prepared by the Permanent Subcommittee on Investigations of the U.S. Senate, April 2011

Testimony Reference:

  • United States District Court of New Jersey, Criminal No. 05-482 (JLL)

Transcript of Proceedings Volume 2. 09/06/07
re: Instructions given to Davis by Lehman associates on what to do to get each loan approved through Lehman's     underwriting department.
T. 3.150-3.162
T. 4.21- 4.43

For more information about author Jamila T. Davis and to check out her memoir The High Price I Had To Pay visit or

Click here to download your free copy of The High Price I Had To Pay

Click here to purchase the hardcopy of The High Price I Had To Pay on

To access recent articles written by Jamila T. Davis ( /media room)


To access Jamila T. Davis' interview about The High Price I Had To Pay ( media room)

Interview Questions. The High Price I Had To Pay
To access photo of author Jamila T. Davis ( media room)

Contact: Jose Francisco
Tel: (305)242-0770
Email: josefrancisco(at)research2255(dot)com

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