The Get-Rich Pitch, Then the Letdown

Maryland records show that at least 27 people working for Lee's organization applied for originator licenses indicating that Key Financial, which is in Clearwater, Fla., was their employer. Information received by the state, however, indicates that Key Financial is not the employer or prospective employer of these applicants, said Sarah Bloom Raskin, Maryland's commissioner of financial regulation. Bloom Raskin said she personally called Key Financial to tell the company of Lee's operation and possible actions to circumvent state law.

Under Maryland Law, people seeking a mortgage-originator license must be employees or prospectively employed by a mortgage lender licensed in the state.

"Mr. Lee's attempts to license his associates in Maryland by using misleading tactics are not welcome in Maryland," Raskin said.

After I began reporting on Lee and his company, I received an anonymous e-mail questioning my commitment to the black community, as if reporting on the shady practices of a company that is black-owned made me a puppet for the white establishment.

"How could U not want black America 2 learn how 2 (build) wealth the same way as white America," the e-mail said. "Shame on U."

Shame on me?

What I found was a suspect company pushing loans with unjustified high fees that put African Americans deeper in debt while making only a few select black folks wealthy.

Building wealth in the black community, or any community, should come with integrity. It should come without harming anyone. It should come by being straight up with people.

It should come by following the law.

I don't see race in this story. It's about the color red.

This series has been about how people, whatever their color, shouldn't ignore red flags because they're too focused on green lucre.

What's shameful is Lee's behavior -- and those who go along with him.

¿ On the air: Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and online athttp://www.npr.org.She also has a new personal finance call-in show that airs Sundays on XM Satellite Radio, Channel 169 "The Power," at 8 to 10 p.m.

¿ By mail: Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

¿ By e-mail:singletarym@washpost.com.

Comments and questions are welcome, but because of the volume of mail, personal responses are not always possible. Please note that comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated.