ATM LEASEBACK SCHEMES-- any insight?

Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc. Includes the Jim Norman Project and the Michael Dotson Project and similar HYIP scams.
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webhick
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Re: ATM LEASEBACK SCHEMES-- any insight?

Postby webhick » Wed Dec 06, 2017 9:54 pm

Yeah. CNB is still in mediation. But then there's more lawsuits against CNB.

I don't know. I don't think I'd feel right about joining a suit when there's a Receiver already doing the heavy lifting on pretty much the same thing. Since the Receiver (and his lawyers) now have to work with more and more lawyers, his billings will go up, which means that the piece of the pie that the victims can get from his work will be smaller than if those lawsuits didn't exist.

The Receiver keeps reporting to the court that his site is effective. Maybe it is, but by whose standards? I keep hearing from victims that my blog is their primary source of information because his site site sucks. His FAQ page is out-of-date, jumbled together and the last question isn't even answered. He uses off-site forms for his questionnaires. He uploads court documents sporadically. Most of that can be fixed with free plugins which also take a lot of the work out of it. I also don't understand why he can't have plain English updates. Not many read the court documents, so a lot of people just need a quick summary to feel like they're informed. Zeek Rewards Receivership site does it.
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notorial dissent
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Re: ATM LEASEBACK SCHEMES-- any insight?

Postby notorial dissent » Thu Dec 07, 2017 6:36 am

I agree with you on the site, it is just flat out awful. I went there a couple of times looking for information, couldn't find anything useful and gave up, and what I did eventually find was of no real use, and I thought quite dated.
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webhick
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Re: ATM LEASEBACK SCHEMES-- any insight?

Postby webhick » Fri Dec 08, 2017 2:14 am

Found it! Joel's wife ran the LA division of the Cystic Fibrosis charity. That implies that she made decent-to-good money of her own.
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Re: ATM LEASEBACK SCHEMES-- any insight?

Postby Gregg » Mon Dec 25, 2017 3:17 pm

webhick wrote:I don't know. I don't think I'd feel right about joining a suit when there's a Receiver already doing the heavy lifting on pretty much the same thing. Since the Receiver (and his lawyers) now have to work with more and more lawyers, his billings will go up, which means that the piece of the pie that the victims can get from his work will be smaller than if those lawsuits didn't exist.



Is their a reason why these suits are not halted by a court order when the receiver was appointed? Almost always there is a clause to the appointment that puts any other litigation on hold until the receivership completes restitution.
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Re: ATM LEASEBACK SCHEMES-- any insight?

Postby Gregg » Mon Dec 25, 2017 3:34 pm

I just checked, they are in the order enjoined from suing on behalf of themselves outside the receivership...

Case 2:14-cv-07249-SJO-FFM Document 42 Filed 10/29/14 Page 12 of 15 Page ID #:866
12 wrote:
IT IS FURTHER ORDERED that, except by leave of this Court, during the
pendency of this receivership, all clients, investors, trust beneficiaries, note holders,
creditors, claimants, lessors and all other persons or entities seeking relief of any
kind, in law or in equity, from Defendant Nationwide Automated Systems, Inc., or its
subsidiaries or affiliates, and all persons acting on behalf of any such investor, trust
beneficiary, note holder, creditor, claimant, lessor, consultant group or other person,
including sheriffs, marshals, servants, agents, employees and attorneys, are hereby
restrained and enjoined from, directly or indirectly, with respect to these persons and
entities:

A. commencing, prosecuting, continuing or enforcing any suit or
proceeding (other than the present action by the SEC or any other action
by the government) against any of them;

B. using self-help or executing or issuing or causing the execution or
issuance of any court attachment, subpoena, replevin, execution or other
process for the purpose of impounding or taking possession of or
interfering with or creating or enforcing a lien upon any property or
property interests owned by or in the possession of Defendant
Nationwide Automated Systems, Inc.,

and

C. doing any act or thing whatsoever to interfere with taking control,
possession or management by the receiver appointed hereunder of the
property and assets owned, controlled or managed by or in the
possession of Defendant Nationwide Automated Systems, Inc., or in any
way to interfere with or harass the receiver or his or her attorneys,
accountants, employees, or agents or to interfere in any manner with the
discharge of the receiver’s duties and responsibilities hereunder.
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webhick
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Re: ATM LEASEBACK SCHEMES-- any insight?

Postby webhick » Mon Dec 25, 2017 7:22 pm

This one in particular seems damning.
to interfere in any manner with the discharge of the receiver’s duties and responsibilities hereunder.

Except that the mediation seems to include all the suits at the same time, which I guess means that it's not interfering?

Most of the class actions are against Fitwilliam and CNB. I did have one case that sued Ed & Joel, Fitzwilliam, and Saleh. It was voluntarily dismissed.
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