Here is a link to a copy of the judgement:
https://docs.google.com/fileview?id=0B_qQVoTL5SsSNDc1MjM0YjctODM3YS00ZjgwLWI0OWMtOWFiMDFkYzk3YWE3&hl=en
Dear, Jeff Lowrance. You are a liar.
15 years ago
Tuesday, November 3, 2009
Friday, September 4, 2009
$42M default judgment in investment scheme case
Federal judge issues $42 million default judgment in investment scheme case
By Dirk Lammers, Associated Press WriterOn Friday July 17, 2009, 8:16 am EDT
SIOUX FALLS, S.D. (AP) -- A federal judge in South Dakota issued a $42 million default judgment Thursday against a currency trader accused of bilking nearly 200 people in a Ponzi scheme.Jeff Lowrance did not show up for the brief afternoon hearing, and he has yet to respond in court to the March lawsuit after being served with court papers in Houston.Attorney information for Lowrance could not be obtained and he could not be located.Wanda Howey-Fox, the plaintiffs' attorney, told Judge Karen Schreier that she believes Lowrance left Texas for Panama.The 199 plaintiffs -- five of them from South Dakota -- accuse Lowrance and his New Zealand-based First Capital Savings & Loan of fraud, breach of contract and fraudulent mismanagement of offshore foreign currency exchange accounts.The suit claims Lowrance failed to make live market trades, transferred money from one client's account to another to keep up the appearance of earnings, and used proceeds for personal gain and other business ventures, including an alternative newspaper he started called USA Tomorrow.Howey-Fox said clients drained retirement and college accounts, mortgaged homes and sold businesses in hopes of earning 7 percent monthly returns."Clearly, he preyed upon people," she said.In an online survey geared to those looking to distribute USA Tomorrow, the publication entices potential distributors to also take advantage of the finance company opportunity."Now the big money," the survey said. "As one of our distributors, you can refer new clients to our International Finance Company that we own and operate."Howey-Fox said First Capital Savings & Loan clients were given online access to their accounts and cash was deposited and withdrawn through wire transfers. Clients were happy as long as the monthly returns kept coming, she said.But when the dividends stopped coming in mid-2008 and investors started to grow weary, a writer hired for USA Tomorrow began writing online accusing Lowrance of being a con artist. The complaints began to snowball.Howey-Fox said the finance company drew people into the investment opportunity through word of mouth, telephone and e-mail. Accounts were opened with anywhere from $10,000 to $750,000.Also listed as defendants are Mentor Investing Inc., Swiss Providence, Logos Publishing Group, Marketwise Trading, First Capital Savings & Loan Ltd. and Lowrance's alternative newspaper.Howey-Fox gave the court affidavits from some of the clients so Schreier could consider punitive damages. Schreier said she would issue a written ruling later.
http://www.classcreator.com/X-CA-Investment-Recovery-Group-2009
By Dirk Lammers, Associated Press WriterOn Friday July 17, 2009, 8:16 am EDT
SIOUX FALLS, S.D. (AP) -- A federal judge in South Dakota issued a $42 million default judgment Thursday against a currency trader accused of bilking nearly 200 people in a Ponzi scheme.Jeff Lowrance did not show up for the brief afternoon hearing, and he has yet to respond in court to the March lawsuit after being served with court papers in Houston.Attorney information for Lowrance could not be obtained and he could not be located.Wanda Howey-Fox, the plaintiffs' attorney, told Judge Karen Schreier that she believes Lowrance left Texas for Panama.The 199 plaintiffs -- five of them from South Dakota -- accuse Lowrance and his New Zealand-based First Capital Savings & Loan of fraud, breach of contract and fraudulent mismanagement of offshore foreign currency exchange accounts.The suit claims Lowrance failed to make live market trades, transferred money from one client's account to another to keep up the appearance of earnings, and used proceeds for personal gain and other business ventures, including an alternative newspaper he started called USA Tomorrow.Howey-Fox said clients drained retirement and college accounts, mortgaged homes and sold businesses in hopes of earning 7 percent monthly returns."Clearly, he preyed upon people," she said.In an online survey geared to those looking to distribute USA Tomorrow, the publication entices potential distributors to also take advantage of the finance company opportunity."Now the big money," the survey said. "As one of our distributors, you can refer new clients to our International Finance Company that we own and operate."Howey-Fox said First Capital Savings & Loan clients were given online access to their accounts and cash was deposited and withdrawn through wire transfers. Clients were happy as long as the monthly returns kept coming, she said.But when the dividends stopped coming in mid-2008 and investors started to grow weary, a writer hired for USA Tomorrow began writing online accusing Lowrance of being a con artist. The complaints began to snowball.Howey-Fox said the finance company drew people into the investment opportunity through word of mouth, telephone and e-mail. Accounts were opened with anywhere from $10,000 to $750,000.Also listed as defendants are Mentor Investing Inc., Swiss Providence, Logos Publishing Group, Marketwise Trading, First Capital Savings & Loan Ltd. and Lowrance's alternative newspaper.Howey-Fox gave the court affidavits from some of the clients so Schreier could consider punitive damages. Schreier said she would issue a written ruling later.
http://www.classcreator.com/X-CA-Investment-Recovery-Group-2009
Thursday, April 30, 2009
Friday, April 10, 2009
Wednesday, April 8, 2009
Blog Maintenance Possible
If in the near future you can no longer access this blog, it is because it is down for maintenance.
Wednesday, April 1, 2009
Experienced CPA
If any of you are interested in a good CPA, I will give you the information for the one I am using. He has other clients who are victims of FCSL and other Ponzi schemes besides FCSL. He has decades of experience with business accounting and taxes.
John Griffin, CPA
Professional Tax and Accounting
2300 S. Rural Rd.
Tempe, AZ 85282
480-967-8837
protaxaz@earthlink.net
John Griffin, CPA
Professional Tax and Accounting
2300 S. Rural Rd.
Tempe, AZ 85282
480-967-8837
protaxaz@earthlink.net
Tuesday, March 31, 2009
Tax Update
My accountant sent me this link to an article entitled:
IRS Releases Guidance for Ponzi Scheme Investors, MARCH 19, 2009
http://www.journalofaccountancy.com/Web/20091552.htm
It gives guidance on how we can report the loss.
IRS Releases Guidance for Ponzi Scheme Investors, MARCH 19, 2009
http://www.journalofaccountancy.com/Web/20091552.htm
It gives guidance on how we can report the loss.
Monday, March 30, 2009
FCSL March 29, 2009 Weekly Update
Here is Jeff's weekly update.
http://docs.google.com/Doc?id=dchn7nmp_11f5tzv6dg
Just click on the link to read it.
http://docs.google.com/Doc?id=dchn7nmp_11f5tzv6dg
Just click on the link to read it.
Saturday, February 21, 2009
Helpful Tax Information
I found this very helpful. If any of you have found other helpful information from speaking with your accountant, tax attorney or searching online, please post it in the comments. Let's reserve the comment section under this post for helpful tax related comments only. Other comments should continue under one of the other most recent posts.
http://www.vcresearch.info/open/forums.asp?TopicId=9309&ForumId=127
If any of you have written this off as "theft", please let us know what definitions of theft you had to meet and what you used as evidence to show that it fits the definition. With this kind of a tax write off my chances of an audit will be much higher.
http://www.vcresearch.info/open/forums.asp?TopicId=9309&ForumId=127
If any of you have written this off as "theft", please let us know what definitions of theft you had to meet and what you used as evidence to show that it fits the definition. With this kind of a tax write off my chances of an audit will be much higher.
Friday, February 13, 2009
Jeff's update compliments of Ed Snook Feb 13,10:45 AM
Please click on the link to view the 47 page update.
http://docs.google.com/Doc?id=dchn7nmp_9fvg36ssd
http://docs.google.com/Doc?id=dchn7nmp_9fvg36ssd
Monday, February 9, 2009
Link to the US Observer Article
Here is the link to the US Observer article that was previously sent out and posted on this blog.
http://www.usobserver.com/archive/feb-09/jeff-lowrance.htm
http://www.usobserver.com/archive/feb-09/jeff-lowrance.htm
Monday, February 2, 2009
Letter to all from Jay, at The Investment Recovery Group
I have been in contact with Jeff L. We have talked a half a dozen times in the past two days. He has called me, and I have called him.
Jeff has broken the update into two parts as it is VERY long. I have the first part of it. I reviewed it and discussed it with him, and we will talk again tonight. He hopes to have the second part done by tomorrow.
We then plan to discuss that update in its entirety, fix any typos and make the necessary changes. The goal is to have them both out at the same time so it makes full sense to everyone.
Please be patient; there are a lot of forces at play in this case both with Jeff L and others. We have been pressing forward for answers for some time, and they are almost here. So, please bear with me a bit as I work through it for the interest of the entire group.
Thanks
Jay
Jeff has broken the update into two parts as it is VERY long. I have the first part of it. I reviewed it and discussed it with him, and we will talk again tonight. He hopes to have the second part done by tomorrow.
We then plan to discuss that update in its entirety, fix any typos and make the necessary changes. The goal is to have them both out at the same time so it makes full sense to everyone.
Please be patient; there are a lot of forces at play in this case both with Jeff L and others. We have been pressing forward for answers for some time, and they are almost here. So, please bear with me a bit as I work through it for the interest of the entire group.
Thanks
Jay
Letter of Guaranty and Principal Declaration
 |
| Jeff Lowrance to Ed Snook |
Click on the pictures to view important documents sent from Jeff Lowrance to Edward Snook.
US~Observer Public Service Warning
Jeff Lowrance – A Polished Con Artist?
First Capital Savings & Loan Debacle
By Investigative Reporter
Edward Snook
Click here to view: http://docs.google.com/Doc?id=dchn7nmp_8chd6hgg2
First Capital Savings & Loan Debacle
By Investigative Reporter
Edward Snook
Click here to view: http://docs.google.com/Doc?id=dchn7nmp_8chd6hgg2
Friday, January 30, 2009
Update from Jay
I have been informed by Jay that Jeff DID meet the deadline. Jay said that he was working with Jeff to resolve the matter, but could not provide a lot of information at this point, and would be in contact soon. Jay did say Jeff wants to make everything right for the betterment of the investors and the company.
Thursday, January 29, 2009
Jeff Made Contact
Jeff made contact with Jay, the lead attorney with FCSL Investment Recovery Group by e-mailing him at fcslconcernedclients@yahoo.com. He assured Jay that he will be sending an update out to everyone before the deadline, Friday, 9:00 AM CST. There will be updates on the private website created for those who want to be part of the recovery group. To begin the confirmation process you need to send an e-mail to fcslconcernedclients@yahoo.com with the following information.
Name
Address
Phone number
Amount invested
Amount currently owed
Who referred you in
Who do you know as an investor
Name
Address
Phone number
Amount invested
Amount currently owed
Who referred you in
Who do you know as an investor
Wednesday, January 28, 2009
AN OPEN MESSAGE TO JEFF LOWRANCE-PLEASE BE ADVISED THIS IS NOT YOUR NORMAL BLOG POSTING---
Dear Jeff Lowrance,
I am writing to you today on behalf of the investors of First Capitol Savings and Loan/Mentor Investing Group Inc. While it may appear to you that there are only a few disgruntled investors numbering around 43 for the last public conference call, we are much stronger in number. I have started to move behind the scenes and have had another conference call in private. As of the date of this writing, I currently have 125 investors members supporting this correspondence and I see I have a ton of emails again to go through with more people wanting to join me/us.
We are not unreasonable people. We simply seek a solution to the problem that has been created by the failure of FCSL and/or you to make the scheduled wire payments as you agreed to do since June 2008. The people may not have done anything for a long time hoping you would come through but then myself and some others have stepped to the forefront of this effort to harness our efforts and move forward effectively. We are not the same organization as in June 2008, do not underestimate our ability to respond. Your silence is deafening and has resulted in some of your own friends and business partners seeking to gain compensation from your own investors, which built up FCSL’s coffers, for their own personal gain at the further cost to your reputation and the effort for the paper. What does Ed Snook, Michael Minns, Congressman Paul and a number of former employees think of your actions? We would ask that you contact us either in your traditional mass email format to the entire group or you contact me at fcslconcernedclients@yahoo.com with a phone number and a time you can be reached and work with us to find a solution.
As you have imposed a deadline upon yourself at many times and failed to meet those deadlines, I do not operate in such a way. It appears you need a good solid business manager to make sure the operation is running smoothly and we can assist you, if need be. However, we the investors are giving you a deadline of Friday, January 30, 2009 at 9:00 o’clock a.m. Central Standard Time to contact me and leave me a phone number where I can call and talk with you directly. Please be advised that if you fail to meet this deadline, FCSL may face its own version of Armageddon. Just as the good lord has given all of us free will to make decisions to control our actions and keep us from eternal torment, you too have the abilities to save yourself, your company and the newspaper, but you need to work with us and not in silence.
While some in this group are very desperate as their houses are on the brink of foreclosure, they have lost the chance at adopting children and have had their very marriages strained by your venture, there are still many of us with a lot of powerful political, governmental, business and financial resources both in the United States and in other countries available to seek the return of our funds or take your freedom from you if you have embezzled, misappropriated funds or made any sort of fraudulent conveyance. I have talked with some foreign based attorneys and banking officials and they also expressed concerns about your operation and the reputations of their countries.
Please do not misunderstand, Jeff, we want to work with our good neighbor and help him Sheppard his flock of bank associates, investors, future business partners and newspaper subscribers. Work with us Jeff and not against us.
Everyone is tired of the silence, delays, missed deadlines and the fact that we need to take these actions. We implore you to respond, but be warned if you do not meet the deadline and respond in some fashion we will respond accordingly.
I look forward to hearing from you at fcslconcernedclients@yahoo.com
JAY THE FCSL CONCERNED CLIENT & HIS FELLOW INVESTORS
I am writing to you today on behalf of the investors of First Capitol Savings and Loan/Mentor Investing Group Inc. While it may appear to you that there are only a few disgruntled investors numbering around 43 for the last public conference call, we are much stronger in number. I have started to move behind the scenes and have had another conference call in private. As of the date of this writing, I currently have 125 investors members supporting this correspondence and I see I have a ton of emails again to go through with more people wanting to join me/us.
We are not unreasonable people. We simply seek a solution to the problem that has been created by the failure of FCSL and/or you to make the scheduled wire payments as you agreed to do since June 2008. The people may not have done anything for a long time hoping you would come through but then myself and some others have stepped to the forefront of this effort to harness our efforts and move forward effectively. We are not the same organization as in June 2008, do not underestimate our ability to respond. Your silence is deafening and has resulted in some of your own friends and business partners seeking to gain compensation from your own investors, which built up FCSL’s coffers, for their own personal gain at the further cost to your reputation and the effort for the paper. What does Ed Snook, Michael Minns, Congressman Paul and a number of former employees think of your actions? We would ask that you contact us either in your traditional mass email format to the entire group or you contact me at fcslconcernedclients@yahoo.com with a phone number and a time you can be reached and work with us to find a solution.
As you have imposed a deadline upon yourself at many times and failed to meet those deadlines, I do not operate in such a way. It appears you need a good solid business manager to make sure the operation is running smoothly and we can assist you, if need be. However, we the investors are giving you a deadline of Friday, January 30, 2009 at 9:00 o’clock a.m. Central Standard Time to contact me and leave me a phone number where I can call and talk with you directly. Please be advised that if you fail to meet this deadline, FCSL may face its own version of Armageddon. Just as the good lord has given all of us free will to make decisions to control our actions and keep us from eternal torment, you too have the abilities to save yourself, your company and the newspaper, but you need to work with us and not in silence.
While some in this group are very desperate as their houses are on the brink of foreclosure, they have lost the chance at adopting children and have had their very marriages strained by your venture, there are still many of us with a lot of powerful political, governmental, business and financial resources both in the United States and in other countries available to seek the return of our funds or take your freedom from you if you have embezzled, misappropriated funds or made any sort of fraudulent conveyance. I have talked with some foreign based attorneys and banking officials and they also expressed concerns about your operation and the reputations of their countries.
Please do not misunderstand, Jeff, we want to work with our good neighbor and help him Sheppard his flock of bank associates, investors, future business partners and newspaper subscribers. Work with us Jeff and not against us.
Everyone is tired of the silence, delays, missed deadlines and the fact that we need to take these actions. We implore you to respond, but be warned if you do not meet the deadline and respond in some fashion we will respond accordingly.
I look forward to hearing from you at fcslconcernedclients@yahoo.com
JAY THE FCSL CONCERNED CLIENT & HIS FELLOW INVESTORS
Tuesday, January 27, 2009
Attorney/Investor Group (AIG)
I have referred in the past to an attorney/investor group that is working on making decisions regarding legal action against FCSL. This group is also referring to themselves as "FCSL Investment Recovery Group." This is the group that is being formed with the primary e-mail address of fcslconcernedclients@yahoo.com. Many of you have contacted them already. They invited me to a "private" conference call on Monday morning. On the call were two attorneys from CA with a lot of international experience and many resources. Once the CA attorneys left there were many discussions on how exactly to proceed. With the blog being a central point of information I was grateful to be invited to the call. It sounded like many decisions were made with concrete plans of action. If you would like to get more information, I would encourage you to contact Jay at fcslconcernedclients@yahoo.com.
There will be a conference call tomorrow. The conference call information is now located on the left side of the blog. I do know that some of the decision making committee with the AIG will be on the call.
Further, there have been rumors floating around that I spoke with Jeff Lowrance on the phone. A few of you have asked for details. I did speak with Jeff Monday afternoon. Most of my questions were answered with, "That will be addressed in the update." The update was said to come out Monday late at night or Tuesday (today). If there is time, I will spend a few minutes talking about the conversation on the conference call Wednesday night.
There will be a conference call tomorrow. The conference call information is now located on the left side of the blog. I do know that some of the decision making committee with the AIG will be on the call.
Further, there have been rumors floating around that I spoke with Jeff Lowrance on the phone. A few of you have asked for details. I did speak with Jeff Monday afternoon. Most of my questions were answered with, "That will be addressed in the update." The update was said to come out Monday late at night or Tuesday (today). If there is time, I will spend a few minutes talking about the conversation on the conference call Wednesday night.
Monday, January 26, 2009
Requesting Information
Please e-mail me if you have received any money from Jeff since June. Thank You.
firstcapitalsl@gmail.com
firstcapitalsl@gmail.com
Sunday, January 25, 2009
From the Attorney/Investor Group
For all investors who wish to combine efforts and join us in becoming an organized, coherent group please see the urgency in joining us. Those that can't make a decision may be left behind.
Do something useful and become a part of the solution to move forward as a group. Blogging and making useless remarks worsen our situation. The newspaper and Panama office is closed down. Some think that is good and some think that is bad. Since Jeff is no longer able to bring in funds at his Panama office, what does that mean for the investors? We will see.
Jeff just was or is in Houston trying to dredge up funds or support at a Ron Paul campaign. It just never ends does it? Like a cat chasing a string.....
Face the facts that Jeff is stalling because he can not do what he wants us to believe or hope he may do.
The litigation process is inevitable and you need to document your investment history/profile at our new website just created 1/22/09. Soon we will be deciding on a law firm to represent us. At least those of us that see this as the last resort to the slight possibility of recovering funds.
If we are not prepared then our opportunity will be lost. If you want to sit back and wait and see what happens, it may be too late for you to participate. Something constructive has to be done and so far all of the talking and blogging has not accomplished much to resolve our concerns. We are not all unified yet.
Investors must be cross-verified for authenticity prior to receiving a password to our private and secure website.
E-mail the following information:
Full name
Address
Phone number
Date(s) and amount(s) of deposits
Who introduced YOU to FCSL
Who you introduced TO FCSL
Send this information to fcslconcernedclients@yahoo.comOnce verified you will receive a password and site address. Please be patient for a response and password since there are a lot of you in this mess and just a few trying to get us all organized.
Thanks
Do something useful and become a part of the solution to move forward as a group. Blogging and making useless remarks worsen our situation. The newspaper and Panama office is closed down. Some think that is good and some think that is bad. Since Jeff is no longer able to bring in funds at his Panama office, what does that mean for the investors? We will see.
Jeff just was or is in Houston trying to dredge up funds or support at a Ron Paul campaign. It just never ends does it? Like a cat chasing a string.....
Face the facts that Jeff is stalling because he can not do what he wants us to believe or hope he may do.
The litigation process is inevitable and you need to document your investment history/profile at our new website just created 1/22/09. Soon we will be deciding on a law firm to represent us. At least those of us that see this as the last resort to the slight possibility of recovering funds.
If we are not prepared then our opportunity will be lost. If you want to sit back and wait and see what happens, it may be too late for you to participate. Something constructive has to be done and so far all of the talking and blogging has not accomplished much to resolve our concerns. We are not all unified yet.
Investors must be cross-verified for authenticity prior to receiving a password to our private and secure website.
E-mail the following information:
Full name
Address
Phone number
Date(s) and amount(s) of deposits
Who introduced YOU to FCSL
Who you introduced TO FCSL
Send this information to fcslconcernedclients@yahoo.comOnce verified you will receive a password and site address. Please be patient for a response and password since there are a lot of you in this mess and just a few trying to get us all organized.
Thanks
Saturday, January 24, 2009
Power in Numbers
In the past week over 1100 unique computers visited the blog from the following countries,
United States, Panama, Cameroon, Columbia, Nigeria, South Korea, United Arab Emirates, Canada, Ukraine, Peru, and Thailand.
What this means is that a much larger percentage of the investors know there is a problem and are actively seeking more information. Everyday more first time visitors arrive on the blog, many from Google. The word is getting out, and there is power in numbers.
It is important that as many people as possible contact, Jay, at fcslconcernedclients@yahoo.com. He is an attorney/investor who is preparing for legal action. The more we have that hire the same attorney the less we pay in upfront retainer fees. Even if you don't have money to hire an attorney you need to contact him. Some legal action may simply take your name being added to a list. If we go to the FBI and/or receive free legal council in the beginning, even one more name can help.
United States, Panama, Cameroon, Columbia, Nigeria, South Korea, United Arab Emirates, Canada, Ukraine, Peru, and Thailand.
What this means is that a much larger percentage of the investors know there is a problem and are actively seeking more information. Everyday more first time visitors arrive on the blog, many from Google. The word is getting out, and there is power in numbers.
It is important that as many people as possible contact, Jay, at fcslconcernedclients@yahoo.com. He is an attorney/investor who is preparing for legal action. The more we have that hire the same attorney the less we pay in upfront retainer fees. Even if you don't have money to hire an attorney you need to contact him. Some legal action may simply take your name being added to a list. If we go to the FBI and/or receive free legal council in the beginning, even one more name can help.
Thursday, January 22, 2009
USA Tomorrow info and a good contact for more
Please click on the link below to read the letter from Eliza, a former USA Tomorrow employee.
http://docs.google.com/Doc?id=dchn7nmp_0jsk5qshm
http://docs.google.com/Doc?id=dchn7nmp_0jsk5qshm
Wednesday, January 21, 2009
Answer these questions Jeff?
Are you sending me back principle plus interest, or just principle for now?
Will the wire transfer be sent:
a. today
b. tomorrow
c. today
d. yesterday
Are you sending me back principle now and interest in a month?
Will an "undue hardship" or "undue burden" bonus be included?
Where do we send your Valentine to thank you for returning our money?
How do we get our homes back?
Are you sending me back principle plus interest, or just principle for now?
How do we get our marriages back?
Are you sending me back principle plus interest, or just principle for now?
When can we start feeding our children something other than Top Ramen and generic mac and cheese?
Investors - Please post any other relevant questions in the comments.
Will the wire transfer be sent:
a. today
b. tomorrow
c. today
d. yesterday
Are you sending me back principle now and interest in a month?
Will an "undue hardship" or "undue burden" bonus be included?
Where do we send your Valentine to thank you for returning our money?
How do we get our homes back?
Are you sending me back principle plus interest, or just principle for now?
How do we get our marriages back?
Are you sending me back principle plus interest, or just principle for now?
When can we start feeding our children something other than Top Ramen and generic mac and cheese?
Investors - Please post any other relevant questions in the comments.
Jeff's Jan. 21, 2009 update
Please click on the link below to read his update.
http://docs.google.com/Doc?id=dchn7nmp_1dtctx9gw
Summary: A four page bible study update to tell us to wait for his update.
http://docs.google.com/Doc?id=dchn7nmp_1dtctx9gw
Summary: A four page bible study update to tell us to wait for his update.
Saturday, January 17, 2009
Snook Update
Mr. Snook spoke with Lowrance for about an hour yesterday. According to Ed the conversation went very well. Don't expect anything substantial to happen before the end of the month. Please do not contact Ed simply for an update.
Comments
I want to thank all of you who have posted helpful comments like those bringing people together who are in support of hiring an attorney, those providing us with factual information, and those suggesting real solutions. Many of you have noticed an increased number of comments on the blog and are finding more and more difficult to weed through the trash in order to find comments that add value. Open discussions are helpful to a certain point, but I think it is getting bogged down pushing it passed the point of helpful. Please use restraint when venting frustrations, complaining, cussing, accusing, and criminalizing people. Unfounded slanderous accusations will no longer be tolerated. I really don't want to go back to moderating comments.
Thank you for your continued participation.
Thank you for your continued participation.
Thursday, January 15, 2009
Ed Snook's Letter and Contract
Please click on the link below to view the letter from Ed Snook dated January 14, 2009.
http://docs.google.com/Doc?id=dchn7nmp_6gm6cbmdw
Please click on the link below to view the contract to use Ed Snook's services.
http://docs.google.com/Doc?id=dchn7nmp_3f7jfhpcw
http://docs.google.com/Doc?id=dchn7nmp_6gm6cbmdw
Please click on the link below to view the contract to use Ed Snook's services.
http://docs.google.com/Doc?id=dchn7nmp_3f7jfhpcw
Tonight's Call
Ed Snook (the smart guy) will be on the call tonight. I have seen much speculation and accusations in the comments, which really doesn't add value. If you have questions that Ed does not answer tonight, please write them down and e-mail him or call the numbers in the letter.
Wednesday, January 14, 2009
Conference call changed
The conference call has moved to Thursday at 7:30PM MST instead of 7PM.
Conference Dial-in Number: (218) 339-4600
Participant Access Code: 377947#
Conference Dial-in Number: (218) 339-4600
Participant Access Code: 377947#
Friday, January 9, 2009
Please read through this important post
There’s something very serious that’s been on my mind. If you’ve been following the recent news of Madoff (the largest Ponzi scheme in the world) you’ll know that in the last couple of weeks, one of the individuals who had a lot of money invested committed suicide. His loss was a large percentage of his net worth. It was a culmination of his entire life’s work. He had people relying on him, dependants, family, business associates, friends, other investors that he had given advice to, etc. He felt like he had let all these people down. He’d lost everything. How could he start all over? How could he face all of those people? They’ve always seen him as successful l, when in the end he turned out to be a failure. Many of us can empathize with this billionaire who invested in Madoff, just because we've feared the worst.
We found this investment that would finally pull us out of our current income bracket and help make our financial dreams come true. Some have felt that it will make up for all other failures. Plans were made on how the additional money was going to be spent. Many were going to go on trips. Others were going to get out of debt, and some were going to finally become millionaires. Expectations were high.
The last 7 months haven’t quite met those expectations. We are now asking ourselves if the money is all gone. Where is it? Will I ever see it again? Am I going to have to start over building wealth? Do I now look like a gullible shmuck who fell for someone’s scheme? How could I have been so stupid? The fact is many of us put in money we can’t afford to lose. Some actually put home equity into this and others may have gone behind their spouses back. At some point during the last seven months we’ve all felt anger, hate, betrayal, blame, stress, anxiety, depression, guilt, alone, helpless, hopeless, and failure. These feelings are natural. They come straight from our sympathetic nervous system which triggers automatic processes within us forcing these feelings to surface.
We want to blame someone. Many of us will blame ourselves, even though that is irrational. Would we tell others to do that? Then why do it ourselves? We want to go after the person who is truly to blame, but can’t at the moment. So, what happens is that energy comes right back to us and we end up going after ourselves.
The reason I bring this up is because of the simple fact that many of us have experienced this the last 7 months. I have recently heard the following words from some of you, “foreclosure, world turned upside down, bankruptcy, divorce, lose everything”, and worst of all, the word, “suicide”.
Whether it’s all gone or not this is what many of us have gone through already. I just don’t want to see anyone do something irrational. We need to keep the anger and energy from taking on a life of its own. The way to do this is by channeling it, talk about it, and allow it to continually drain out and escape. We need to hear ourselves talk about it. The blog has been a big help for some in that regards, but it might not be enough. We all need to reach out and call the other clients that we know. Let’s look out for each other and be the support group that is needed.
We found this investment that would finally pull us out of our current income bracket and help make our financial dreams come true. Some have felt that it will make up for all other failures. Plans were made on how the additional money was going to be spent. Many were going to go on trips. Others were going to get out of debt, and some were going to finally become millionaires. Expectations were high.
The last 7 months haven’t quite met those expectations. We are now asking ourselves if the money is all gone. Where is it? Will I ever see it again? Am I going to have to start over building wealth? Do I now look like a gullible shmuck who fell for someone’s scheme? How could I have been so stupid? The fact is many of us put in money we can’t afford to lose. Some actually put home equity into this and others may have gone behind their spouses back. At some point during the last seven months we’ve all felt anger, hate, betrayal, blame, stress, anxiety, depression, guilt, alone, helpless, hopeless, and failure. These feelings are natural. They come straight from our sympathetic nervous system which triggers automatic processes within us forcing these feelings to surface.
We want to blame someone. Many of us will blame ourselves, even though that is irrational. Would we tell others to do that? Then why do it ourselves? We want to go after the person who is truly to blame, but can’t at the moment. So, what happens is that energy comes right back to us and we end up going after ourselves.
The reason I bring this up is because of the simple fact that many of us have experienced this the last 7 months. I have recently heard the following words from some of you, “foreclosure, world turned upside down, bankruptcy, divorce, lose everything”, and worst of all, the word, “suicide”.
Whether it’s all gone or not this is what many of us have gone through already. I just don’t want to see anyone do something irrational. We need to keep the anger and energy from taking on a life of its own. The way to do this is by channeling it, talk about it, and allow it to continually drain out and escape. We need to hear ourselves talk about it. The blog has been a big help for some in that regards, but it might not be enough. We all need to reach out and call the other clients that we know. Let’s look out for each other and be the support group that is needed.
Monday, January 5, 2009
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