Dear First Capital S&L Clients,
It has now been a little more than 5 weeks since my last update went out. I did promise to have an update to you after 4 weeks of time, so I am a bit late.
I have been extremely busy with getting this Titanic of a business turned around and going back into the right direction. There is still a lot of work for me to do, but I am back on track and heading the right way.
The first thing that you should know is that I have cut out all other projects and side-tangents so that I can completely devote my time to getting FCSL back to the way it once was. We have 4 great years behind us and I won't see that all go to waste.
I am working to get all of our clients their principal paid back or at least back on track with monthly payments. I say it that way because I have received many, many emails over the last couple of months from clients who do not want us to stop our monthly payment program. They would prefer that we try to pick up from where we left off, if at all possible. I intend to repay/or get monthly payments going again, for all clients, before the January 5th date, if at all possible.
In regards to either paying back all of your principal or starting monthly payments again to our clients; I would like to take a short survey from each one of you to find out what you are thinking. To sort through all of your emails will mean a lot of work for me and my team.
However, I really would like to find out what you are thinking in regards to FCSL returning your principal, verses that of starting monthly payments again. Please watch for a separate email to come to you in regards to that survey. It will be self-explanatory.
Last week, I was ready to send out an update to everyone. Honestly, I would not have had much to say except for the fact that I am still right here in Panama and that I am steadily working towards getting back on track. It was due to be a simple communication to let you know that I am here and that I am doing what it takes to make things right with you.
As for the few investors out there who have been working with my advisor, I assure you that I will make every attempt to return your funds before January 5, 2009 and for the rest of you look forward to the 5th. I will at that time take the steps necessary to return your principal. Once completed, I will send your interest, in full, as soon as is possible.
Thank you for your extreme patience. I just want you to know that I am working 200% to get us back on track again!
Sincerely,
Jeff Lowrance
First Capital S&L
Dear, Jeff Lowrance. You are a liar.
15 years ago
17 comments:
Survey, what is that and why? Is this his way of taking more time and then saying that the majority rules and this is the way I am proceeding forward. The wishes of each and every investor needs to get met.
We do need to go private and have a plan. I agree with one poster who said to get Mack involved. I have emailed Mack and told him it was ok to give my email to the creator of this blog. It is still my feeling that Mack and that creator, who ever you are, started this together, so now both of them can take us to the next step.
It really bothers me that "the few investors out there who have been working with my advisor, I assure you that I will make every attempt to return your funds before January 5, 2009 and for the rest of you look forward to the 5th" get preferential treatment from Mr. Jeff Lowrance. These people who are "in the know" seem to have leverage to get their money back from Jeff sooner than the rest of us. I protest!
Second thing--I can tell by Jeff's Update that he continues to lie to us. He continues to tell us "that I have cut out all other projects and side-tangents." In his own "USA Tomorrow Update" he told us that he is working hard to 1) launch the newspaper, 2) build a subscriber base, and 3) build a distributor network.
Jeff is lying to us. He hides behind Christianity to steal from us.
OK - I never got this update. I know two others that did get it yesterday. Anybody else not get this update?
To the person that did not get this update i have one question
Did you receive payments?
I said in another post that I felt the only ones getting updates are theinvestors that received payments or requested all of their money back. The investors that have been just compounding are none the wiser about what is happening.
Then second question for all of you is this:
What does Jeff mean by principle?
Does he mean original investment? If so a lot of you have already been paid back or have had a good protion of your original investment paid back so he owes you very little or nothing. Think about this play with words.
As for the survey i could care less about what someone else wants to do with his or her money, I am the only one that counts when it comes to my money.
Also has anyone niticed that the website is updated with trades through Oct 2008. If he played the canadian dollar or the euro he would have made a killing also, Jeff primary trade is the GPD, which is curious, but Jeff is the xpert and knows what he is doing
If bloggers were willing, perhaps those in communication with Jeff could offer to take the blog private in exchange for more frequent communication and disclosure of how much money is left and what is happening with it.
I would exchange the blog for more frequent updates. We are only speculating on the blog. Some honest facts from Jeff would be more settling.
I think keeping the blog keeps Jeff honest. It does slow down his ability a little. During the last 6 months, Jeff has not come good on any commitment he has promised. Verify it by looking at his past emails. I believe if it were not for the blog, he would have not sent out his most recent update.
However, I propose the following:
When Jeff decides to start paying interest payments again, we shutdown the blog until he stops paying again. If Jeff is really serious about his last email, he will start interest payments immediately (November).
This is the only proposal I would accept on taking down the blog. The blog should stay public until then. It called checks and balances.
As an "outsider", I am very glad I found this site as there is very little information available on FCSL and the actions Jeff takes here have a lot of weight on future investors which I would think encourage him to get things resolved to satisfaction for all of you.
I have a number of other people who expressed interest, amounting to many hundreds of thousands of FRNs looking for a good investment and I have been spearheading the due diligence effort. If it wasn't for your blog, I would not have invested. Because of your blog, I now have a vehicle to help me decide my own strategy.
Even the best intent sometimes falls short of expectations. If Jeff is upright, he will make amends to you all and this too would help the rest of us make our decisions. Right now, his actions will determine future investment in FCSL. I believe he will make good on his commitments to you and this is his opportunity to prove it to you and everyone else.
I did not get the last 2 updated from Jeff and I was recieving payments... if I didnt know about the blog I would still be left in the dark, the last communication I had with jeff wia a personal email was back in july..
Jeff's other site swissprovidence.com is blank on all pages... what do you thing that means?
I think it would be great if Jeff would initiate monthly payments immediately but it is not going to happen people! He does not have access to the money to do this. They are brining in money through the advertised investment but that is, and always has been, a separate investment and account. We who were receiving interest based on the old program were supposed to have been moved into the new investment a long time ago.
They will not be dipping into the other investment to make payments to us as that would be illegal and unethical. It sounds funny to say that but in a way it makes me feel better that they are trying to play by the rules.
As much as this hurts, I am completely confident of 2 things:
1. We will not see a dime until Jan. 5th.
2. We will receive all our money back including interest.
So leaving this blog up is not unethical as the investment they are running is separate from ours. And the importance of that investment is to keep the overall business afloat... not to get our money to us.
So we absolutely need to remove this blog while communicating offline in a private venue.
I will not cite sources on this but suffice it to say they are near the top!
i would love to know who the sources 'near the top' are. I know people near the top and no one REALLY knows anything except Jeff, and he is not handing over information.
If we are not going to see anything until jan 5th, which has been said over and over, then i agree with the last post. this blog should come down. it is counterproductive. it can always go back up.
Like many of you I have not seen the last two updates either. If not for the Blog I also would be in the dark. I have sent private e-mails to Jeff and had NO response from him at all. I use to get updates, but for the last two I some how got over looked. Thank you for this blog to keep us upto date. Please don't take it down until Jeff takes care of this mess.
to the last post.... PLEASE>. email the administrator and ask to be put on the private blog. We can all stay in touch much better that way, share real information, and allow Jeff to actually take care of this mess by taking our conversations private. This blog is hurting Jeff's chances of keeping FCSL solvent, hurting our chances of getting our money, and needs to be taken private. We can put it back up (and do much more) if Jan 5th rolls around and nothing is happening.
The survey will help Jeff know how much money will be needed to reach his January goal. Which is to pay back the investors that want their money in full. If Jeff can keep the majority of us in the fund, start paying interest payments again, I'm sure his ability to earn in the FOREX will stay strong. As difficult as it is, we all need to stay positive and be patient. Just my opinion mind you.
Has anyone received the survey? Just cheking, I have not...
I didn't receive the past 2 updates, any payments or survey.
According to the blog, there are some member already hired a lawyer or report to authority. May we know the status?
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