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by Tednewsom
Tue Jan 31, 2017 1:40 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

-- apparently not. I'd suggest cruising the semi-official boards which update the case. I'm pretty sure there are comment sections written by victims.
by Tednewsom
Mon Jan 23, 2017 1:31 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

And that person who continued to hold that door open claimed that there was a good chance for most if not everyone to be made whole by the clawbacks. I don't think anyone here ever wrote that. I don't applaud people who don't know what they are talking about, who promise what cannot be delivered, w...
by Tednewsom
Wed Jan 18, 2017 11:32 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

No high horse involved. One person (not me) continued to keep the conversational door open saying there could indeed be some sort of recovery; everyone else snorted that he was a naive idiot, and if the receiver got 1% back, it'd be a miracle. Twenty cents on the dollar is still an 80% loss, but it'...
by Tednewsom
Sat Jan 14, 2017 10:03 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Well, the most jaded among you insisted that the net losers would be lucky if 1% of the swag was ever recovered (a penny on the dollar was the most frequent description), and it's apparently turned out to be closer to 20%. Takes some of the sting out of being a chump. OK, it leaves 80% of the sting,...
by Tednewsom
Fri Jan 13, 2017 1:06 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

The last little bits of financial fluff are settling down. Late last year, my friend, the one person in this drama who I cared about, responded to the "net winners" demand with a quite true "I don't have it. I used it to live." And the clawback guys said, "Yep. Don't worry a...
by Tednewsom
Mon Aug 22, 2016 3:58 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Worried came closest, I think. I certainly meant no nose tweak. The Third Act bank plot twist is a fairy tale, a deus ex machina in this little drama. No one saw this coming, certainly not me. Who would have thought it? And yet, it's perfectly logical and has a precedent. It's vaguely similar to my ...
by Tednewsom
Fri Aug 19, 2016 11:53 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

To all those seriously, genuinely intelligent investment & scam experts here who, all along, have said the Ponzi victims might as well write it all off, because the best you'll ever get is a penny on the dollar... Fairy ta-a-a-ales... Can come tru-u-u-ue... It can happen to you-u-u-u... When you...
by Tednewsom
Fri Apr 22, 2016 4:43 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

I think there's already a case where a bank was held responsible, cited somewhere above. Madoff, maybe? If it's settled, it won't establish a precedent, just a nasty habit (nasty, if you're a banker). And this one is more clear-cut, possibly not even precedent-setting. Here, the bank (via its chief ...
by Tednewsom
Mon Apr 18, 2016 10:53 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

A lot of work. I like the theory. City National Bank's not going to be happy about it, and I expect they'll take the fast track and, after their initial requests for dismissal get shot down, they'll offer to settle just to stop the bad press and tarnish to their reputation. Y'know, it might just be ...
by Tednewsom
Mon Apr 18, 2016 3:14 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Joel, believe it or not sold machines to his Father in law. In the end of this scheme he was having to issue his Father in-law $20,000 + thousand a month based on the number of machines his Father in-law had purchased The "sale" of ATM contracts to the father-in-law... I suspect this was ...
by Tednewsom
Mon Apr 18, 2016 3:05 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

If it will keep domestic discord and the lawyers away, I won't refer to Amway as a transparent con game with soap.
by Tednewsom
Sat Apr 16, 2016 7:19 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

I don't think I said Amway doesn't sell stuff, or that there IS no stuff. Of course there's Stuff. What I meant was that the Stuff is unimportant in the big scheme of things. It's a cosmic version of the old Cloverine Brand Salve schtick which used to run their ads in every comic book in the world. ...
by Tednewsom
Sat Apr 16, 2016 4:19 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Well, Ob... unless you're privy to what the NASI boys told the prosecutors and the investigators, I'd say (ahem) the jury is still out on whether they went belly-up and were given a heavy sentence without negotiating. It's a "life sentence" only because of their age. They ought to have got...
by Tednewsom
Fri Apr 15, 2016 9:58 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

What indication is there that Joel Gillis and Ed Wishner ever put a dime into "Fuel Doctor," much less got snookered? This is from an annual report of FD, which was pretty prompt and verbose about their ups and downs: Notes 6 through 8 Related parties Related parties with whom the Company ...
by Tednewsom
Fri Apr 15, 2016 5:54 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Well, Gregg... excellent point about Whitacre (if it's true. Actually, it's poetically terrific if it's true. IF.) But bear in mind: his being duped into an idiotic Nigerian scam predated his scamming of his employer for millions while simultaneously blowing the whistle on others' corruption. Also.....
by Tednewsom
Thu Apr 14, 2016 5:42 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Your opinion is absolutely, 100% valid. OK, sure, it makes no sense to me regarding basic human behavior, the Boyz' previous 20 years of informed psychological manipulation of thousands of suckers, and their clear knowledge of how to avoid a suckers' suspicion of a scam... but, uhhh... yeah, sure, t...
by Tednewsom
Thu Apr 14, 2016 5:49 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

They would rather Ed and Joel participate as distributors and buy their product for the purpose of resale. Then... why... is there... no... indication... that they were... ever... "distributors"? Consider worried's musings, above. Too many anomalies to explain away as coincidence, too int...
by Tednewsom
Wed Apr 13, 2016 7:50 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Awww, c'mon, fellas. Amway makes money on selling dealerships to the rubes (partnerships, dealerships, franchises, permission to become a salesman, whatever you want to call it.), who then move to their next level and sell more to dealerships to their idiot friends, and so on. They MUST pay for thei...
by Tednewsom
Tue Apr 12, 2016 11:57 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Yessss.... but--- It wasn't set up like an Amway scam. The FD boys were (are?) were selling product, not sales franchises. And there's no indication the ATM boys ever considered going into the Fake Auto Parts business. Ergo, the arrangement was something else. And there's no indication thus far that...
by Tednewsom
Tue Apr 12, 2016 7:39 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2417
Views: 380185

Re: ATM LEASEBACK SCHEMES-- any insight?

Well, ge'mmen, we part intellectual company on this sub-subject. I see Fuel Doctor as a prime example of the time-honored world of ballyhoo thievery. Sure, it does nothing, but with the right pitch aimed directly at fear in the human heart and desire to be one step up on the other guy, it's boffo. A...

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