Jeff has asked us to stop trying to contact Carlos Olmos and Dito in accounting, that they did not have any answers. He said he would send out an update as soon as it was ready.
All wires are pending approval by Jeff.
He was working on distributing his new paper last week.
http://newswithviews.com/Devvy/kidd387.htm
Ben Greenwood reigned.
We still have not heard of anyone pursuing legal action. No one wants it to come to that. From many of your e-mails it is apparent that some of you still give Jeff the benefit of the doubt. I personally believe we need to stay positive. Hopefully Jeff will contact the blog personally and allow us at the blog to contact him by phone once a week. That way we can give updates to all.
Please view the new comments on the other posts.
Please notice the new question posted to the right.
According to Jeff, he still has all the principle money in the account and has not been touched.
First Capital Savings and Loan Client
Dear, Jeff Lowrance. You are a liar.
15 years ago
6 comments:
Did someone actually speak with Jeff to get this information? If so, did he say anything else?
If all the principle money is still in the account then it should not be a problem returning it. How many of you know Jeff personally?
The most dangerous scenario right now is to have a "run on the bank". If the current investment program has run its course, an orderly close out is the only solution. It should be obvious to Jeff and probably is. His failure to communicate is contributing enormously to the problem. Let's look for some remarks from First Capital to keep all investors comfortable that there is still a viable operation and that there is a coherent plan for going forward.
According to another investor who still receives FCSL trades they are still activly trading and most of the time making money. Is anyone else still receiving their trades? If they're making money what is the hold up with paying everyone? What is the hold up with paying us our money period?
I cannot believe this optimism I am reading. There is in all probability a serious problem here. If this were running its course, then we would be getting something in dividends or showing negative for losses. After 3 months somebody would be getting checks. Has anybody got a dime in last 3 months. Regarding trades, those are just points on chart anybody can pick after fact. Has anybody seen brokerage or transaction number on any trade? We are at point that Ponzi scheme will run dry (3 years). If you do not believe me, then call FBI and ask them. When considering profit made converting dollars to euros, and those that did not take dividends right away, this is just about time the money runs dry. That is, minus vast real estate holdings Jeff now has in Panama? Hopefully, he will liquidate some of it to give our money back. What we need to do is focus on our collective actions (legal, criminal and civil) if this continues. If Jeff comes thru with giving us our money or some reasonable part of it, then OK. If not, we need to be ready to step up to plate. It would not surprise me if Jeff set up this site to test the resistance and he would love what he is reading.
I am sure he would love to not have to deal with FCSL, but he has to. If he returned all the money, his whole operation would cease, his paper, his call center, everything he has been building. He is probably hoping the newspaper takes off on its own, and then he would not need FCLS's funds to work with. His problem going forward is he has basically destroyed his own credibility by taking the funds' money and using it for personal endeavors, unless he comes up with something good very soon. Every day that goes by is more evidence that he CANNOT live up to his promises. If he is able to return funds, I am sure he wants to slowly give it back so he can stay afloat. It would be great if he could open his books, show an intelligent, honest person what is going on, reach settlements, and have them run the operation so he can do his own personal projects. Yes, let's do look for some remarks from First Capital. Everyday that goes by without, they look worse and worse.
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