Search found 221 matches

by worried
Thu May 25, 2017 8:28 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

New fee application reports out on the receiver site. The Allen Matkins fee app report has just a hint of some fun drama associated with Mark Soffa (that guy really thinks he's a slippery snake) who is acting as his own lawyer. The receiver fee app has this about the CNB cases: In the Receiver's cas...
by worried
Thu May 11, 2017 12:35 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

New Receiver report out on the receivership website: http://www.nasi-receivership.com/wp-content/uploads/2014/11/NASI-Receivers-11th-Report-Q1-2017-filed-05-04-17.pdf The most interesting new info: ... as the pursuit of Clawback Claims winds down (which is expected to occur toward the end of the sec...
by worried
Fri Apr 14, 2017 9:53 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

... if I was the single, sole owner of CNB, and if I thought I could get away with letting my people rip people off while I reaped the profits from the fees and all I ever had to do was at worst, give some ill-gotten money back, or at best keep the money and watch my employees take the fall, I guar...
by worried
Tue Apr 11, 2017 2:19 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

There a new complaint filed: https://media.wix.com/ugd/f30c02_97d17fe59c6642f180ce4243269f4bc1.pdf (on the website: https://www.nasi-lawsuit.com/case-documents ) I read through it rather quickly, going slower on any part mentioning CNB. It looks like a slightly different version of the same complain...
by worried
Fri Apr 07, 2017 1:38 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

Thank you for providing information!! I'm a bit surprised that the Receiver case got dismissed. Not because I know anything about this stuff, I would have assumed that the Receiver just kinda knows what he's doing and wouldn't bring a case if it wasn't a GOOD case. Everything he does is approved by ...
by worried
Mon Apr 03, 2017 8:45 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

I don't think the CNB lawsuit and settlement is going well for the victims. At https://www.nasi-lawsuit.com/case-documents at the bottom of the page there is a new doc: https://media.wix.com/ugd/f30c02_57db709261dc4d26b930529fe47b630d.pdf That is a "Notice of Appeal". Apparently several of...
by worried
Tue Feb 28, 2017 7:48 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

I've been tracking a website: https://www.nasi-lawsuit.com/case-documents If you haven't seen the docs on this site, you may find them interesting. The latest doc on that site has a couple teasers but leaves us hanging: https://media.wix.com/ugd/f30c02_07be29d55ef140c2a5f5eb0aad55a2bb.pdf I particul...
by worried
Mon Nov 07, 2016 11:47 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

New receiver report is out... more of the same relatively good news on clawbacks, nearing 20 cents on the dollar (after taking out receiver's fees)... As to the CNB suit, there is this statement: Special Counsel has continued to work closely and coordinate efforts with Class Counsel in the matters o...
by worried
Wed Oct 12, 2016 11:46 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

... the banks are too big and too focused on squeezing all they can out of tight profit margins? ... It's worse than you think: http://www.foxnews.com/us/2016/09/13/wells-fargo-exec-who-headed-unit-involved-in-scandal-due-125-million-in-retirement.html Impunity has its rewards. Yeah, I've been foll...
by worried
Tue Sep 13, 2016 12:46 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

The Wells Fargo scandal seems kind of relevant here, and scary knowing what we know about what was going on with CNB... http://money.cnn.com/2016/09/12/investing/wells-fargo-hearing-senate-ceo-testify-elizabeth-warren/index.html Warren, a longtime proponent of breaking up big banks, expressed skepti...
by worried
Mon Aug 22, 2016 2:20 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

... NAS just happened to find a person within the banking system that apparently wanted to get in on the ground level and walk away with some easy bucks. ... I think it's possibly the other way 'round. As you stated, most Ponzi scammers go to great pains to not be too obvious to the banker. They sp...
by worried
Mon Aug 22, 2016 1:55 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

To be fair to Ted, I think you're referring to me when you talk about somebody suspecting/imagining ways that Joel/Ed (and now the banker) could have hidden money... I don't see anything wrong with using imagination to try and solve a problem (Einstein is popularly credited with the saying "ima...
by worried
Fri Aug 19, 2016 1:59 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

There are new fee applications on the nasi-receivership.com site. In the receiver's fee app he mentions the possibility of CNB settling through mediation in "August or September". Hopefully that really happens soon and they're able to get a significant amount to help out the hardest hit vi...
by worried
Fri Jul 29, 2016 8:48 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

Great news all around... the 8th receiver report is on the receiver's website (nasi-receivership.com). He's collected over $20M(!!) now with 60 demand letters still outstanding... The CNB story is very satisfying, so far, we'll see how it pans out, but there may be some substantial relief for some o...
by worried
Mon May 09, 2016 6:29 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

It's going to take forever to get more information on the case against CNB. Many of the posters here seem to have some bank experience. So, according to the complaint, over $300M of NASI money flowed through CNB. So, how much money would CNB have actually MADE as a result of that flow? I assume that...
by worried
Fri May 06, 2016 7:12 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

A new Receiver report is out at: http://www.nasi-receivership.com/court-documents/ Also, the Receiver is going after CNB! The Receiver has collected $14M with another $4M in the pipeline, that's approaching 15%. He got ~$400k (net) from the sale of Gillis' house (apparently this was ordered as resti...
by worried
Fri Apr 22, 2016 7:26 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

I think there's already a case where a bank was held responsible, cited somewhere above. Madoff, maybe? This was pretty recent, Sept of last year: http://www.bizjournals.com/columbus/news/2015/09/29/huntington-increasing-legal-reserves-by-45m-as.html The headline: Huntington on hook for $72M as fed...
by worried
Wed Apr 20, 2016 8:16 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

We amended our complaint in the ATM case. You can find it here: http://www.hbsb.com/wp-content/uploads/2016/04/Amended-Complaint-with-Exs-1-26.pdf The complaint is 57 pages, the exhibits are 187 pages, so it may take a while to download. On page 7/57, there are some conflicting statements you might...
by worried
Thu Apr 14, 2016 2:47 am
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

I love seeing all the theories... You all have good points... I keep going back to the fact that I don't remember seeing payments TO Joel/Ed FROM Fuel Doctor in the lengthy documentation of debits/credits from NASI and/or Joel/Ed's accts. Maybe I didn't notice or forgot seeing them... But, another t...
by worried
Fri Apr 08, 2016 11:30 pm
Forum: THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance
Topic: ATM LEASEBACK SCHEMES-- any insight?
Replies: 2422
Views: 381005

Re: ATM LEASEBACK SCHEMES-- any insight?

I finally noticed on page 10 of the 'march complaint' (linked to on the previous page): http://www.hbsb.com/wp-content/uploads/2016/03/1.-Complaint-3.18.16-1.pdf, Fuel Doctor had an account at CNB which was monitored by Fitzwilliam, who knew NASI transferred stolen funds to Fuel Doctor. Fitzwilliam ...

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