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.

52 comments:

Anonymous said...

I appreciate these words as they definitely resonate with me. I have personally thought/felt everything on the list. I did make the mistake of investing home equity and I feel like the biggest loser in the world now. Losing this money equals bankruptcy for us! I have been feeling that it will ruin my life if this happens. But the correct word is "change". It will only ruin what I let it ruin.

I am still optimistic that we will see some or all of our money returned. In my experience, Jeff has consistently missed his deadlines... but eventually he has always come through in some fashion. I continue to believe that he is currently working out a repayment schedule that is equitable and acceptable to us all.

If Jeff or any of his associates are reading this, I implore you to at least send a note to the group acknowledging that you are still engaged and working towards a resolution.

Anonymous said...

Thank you for posting these thoughts. I continue to pray for all of us including Jeff.

I was re-reading Jeff's survey update and some of his language jumped out at me which might explain the delay somewhat. I have copied the first three paragraphs of his update below and have capitalized the things that stood out...

"I have been dragging my feet in getting this update out to you. However, I do have reason for it, in that I don't want to go through the NEXT FEW MONTHS (sent on Dec. 18th) with more unnecessary challenges to overcome.

As Thomas Jefferson is famously quoted, "DELAY, IS PREFERFABLE TO ERROR". In my case here, I WOULD PREFER TO BE DELAYED AND LATE IN MY CORRESPONDING TO YOU, THAN TO BE WRONG IN MY DECISION-MAKING PROCESS, of which will CERTAINLY AFFECT YOUR LIVES.

I mentioned to all of you in the last update that I wanted to do a survey. This email is for that purpose.

As for the survey, my questions are as listed below. IT WILL TAKE US A WHILE TO GET THROUGH ALL OF YOUR RESPONSES, so please be patient as we absorb more than 532 responses!"

My point to this is not to excuse Jeff's lack of communication. But perhaps this is a window into his thought process. He is meticulously going through the payback process to ensure it is fair and possible. I believe that whatever he sets in place will be the best possible scenario given the amount of money he has left and the amount of money he is able to generate in the future.

I do not in any way believe this is or ever was a scam! I am sure Jeff's email will come out soon. Let's all maintain cool heads in this difficult time. Brash action now could ruin a bright future!

Unknown said...

In this case delay IS error.

Thank you for the post. This is a difficult time for many.

Anonymous said...

Congratulations to the publisher of this blog, I am the one who told jeffs BFF that commented that he sides with jeff because we shouldnt have been FOOLISH!! I have a great deal of sympathy for those of you that are in the same boat as many. ARE YOU LISTENING JEFF, I PRAY TO GOD EVERYDAY TO TALK TO YOU AND MAKE THINGS RIGHT FOR EVERYBODY, JUST REMEMBER FOR A GUY WHO CLAIMS TO BE SO RELEGIOUS, HOW CAN YOU WATCH SO MANY LIVES FALL APART!! I STRONGLY BELIEVE IN GOD IT SAYS IN THE BIBLE AN EYE FOR AN EYE NO JEFF I AM NOT THREATNING YOU OR YOUR FAMILY I LEAVE ALL THE JUDGEMENT AND PUNISHMENT TO GOD! I FEEL STRONGLY ONE WAY OR THE OTHER THIS WILL ALL BE OVER SOON!

Anonymous said...

Great post
Reading between the lines, so we get back the money what are you guys going to do with it the economy stinks and you are now flush. The nonprime loans screwed us, investors on wall street screwed us (AIG) so tell me if you are made whole are you going to brag that you did not get hurt by what happened in the USA and the world. Your freinds that did not invest but are in a financial disaster well you help them or your friends. A lot of people process GOD but who in this group will walk it.
Think about it

Anonymous said...

ILL WALK THE WALK ALLRIGHT, HEY JEFF WHY DONT YOU LEAD FROM THE FRONT!!!!

Anonymous said...

Steering ourselves back to the topic of this particular post, I really do hope that people are able to come through this mess. Moving away from the vitriol of some and self-righteousness of others, what we say about others is never objective and what we say about what anyone should do with their money is none of our business. We can never presume to judge how others should act without doing so unrighteously.

And finally, moving the topic back to the task at hand ... what is going on? As Monday's conference call nears my hope is that we can possibly focus on some small catharsis and that we're able to feel more comfortable as a group; that we are somewhat united (not opposed) and that we're able to come to at least some sort of consensus as to how to proceed. That, right now, is the only control that we have and will be the most powerful move that we can make ... To present a united front to Jeff and show him that 1. we are willing to be patient with his action, but that we will 2. not suffer ongoing inaction and irresponsibility.

Anonymous said...

Has anyone had any postings to their accounts or updates from anyone since the conf call--Jo Ann said it showed on her online account--anyone else?

Also if you talked with someone please identify your source.

Anonymous said...

What conference call is on Monday? What time and what number to we need to call? Please post.

Anonymous said...

I can't believe it has been a weeke since the deadline without a word from Jeff

Anonymous said...

Believe it, he must like to torture us for some unknown reason.

Anonymous said...

Hope the reason we haven't heard fron Jeff is because he's busy spending all of our money that was released to him last Monday!! As we mentioned before, we need a gatekeeper!
Our accounts have consistently shown compounding at 7% until the end of December and then 2% after January 1st. (Someone asked for info on this in an earlier comment.)

Anonymous said...

I think the lack of communication from Jeff calls for the Blog to go public and searchable again until he can start making payments to his clients.

Anonymous said...

What is Jeff's current email address?
If someone knows I would appreciate having it.

Anonymous said...

I admire the optimism.. I am over it. fcsl started somewhat OK, he got in trouble, did not get corporate credit lines that he was banking on, did not want to lose his dream, spent his last depositors' money chasing a paper because he know he would not get the chance again, and he has been treading water since... living on his own sanctimonious self-righteous delusional bullshit. his own family wants to kill him. they want to go to expose him on the network news shows.

Jeff has missed deadlines before because he was changing bookeeping, changing from mentor to FCSL.... he missed this time because he stole our money.

I hear that we will know more definative information by mid-week.

Anonymous said...

Can whoever posted the last comment that "Jeff's family is ready to kill him and go on the talk show circuit" please provide some corroborating evidence to the fact. If this is true... that the money is gone and we are just being strung along then I would like to get started in going after Jeff now... not after he hides.

We could destroy his reputation in an afternoon with a few well-placed phone calls. We could even contact USA Today and tell them what is up with the paper since they are obviosly interested in attacking USA Tomorrow.

They certainly have the resources to destroy it and JL!

Anonymous said...

Yes, whoever wrote about his being turned down for corporate credit, his family wanting to go on network news shows, and "we are getting definitive info. by mid-week".....is this all conjecture on your part or is it fact. If it is the latter, who told you?

Anonymous said...

this blog needs to have people substantiate allegations they make with what rep they talked with or how they know it otherwise misinformation is spread.

Please keep that in mind people.

Anonymous said...

this blog needs to have people substantiate allegations they make with what rep they talked with or how they know it otherwise misinformation is spread.

Please keep that in mind people.

Anonymous said...

I have to admit that I am rapidly losing hope as well!

First Capital Savings and Loan Client said...

Just an FYI. The blog has been public and seen on search engines again since the morning of Jan 5th. That's why you no longer have to log in.

First Capital Savings and Loan Client said...

Conference Dial-in Number: (218) 339-4600

Participant Access Code: 377947#

7PM MST/6PM PST

Anonymous said...

Cant get on the call. Will some on summarize please
Thanks

Anonymous said...

HERES A SUMMARY- YOU ARE GOING TO JAIL FOR A LONGTIME ASSHOLE!!!

Unknown said...

...ummm, thats not quite how it went. Several people know someone that might know something. Some of us are meeting with lawyers with the specialty of fraudulent investments, some are looking into other details, and we will have a call on thursday at 7:00.

I don't think we are ready to take agressive legal action, but enough are interested that we will find out what the options are and perhaps we can have a lawyer send a letter or make contact to show we are serious and will no longer sit on our hands.

Those who wanted my contact email for Steve from Utah it is 2steverb@gmail.com.

Oh, and we might hear something Wednesday like "please give me more time". Not sure.

Anonymous said...

Some good news...

This is 12:10 guy and I was able to reach my contact at FCSL this morning. No one answered yesterday due to a national holiday in Panama. We spoke for quite awhile again about how things are going. He indicated that Jeff should be sending the email today or tomorrow he suspected. He said he has been in direct contact with him regularly. They are all still there working. He still assumed this was going to work out fine and that Jeff is going to start the repayment process promptly.

Anonymous said...

Open letter to Jeff:You're in quite a mess at this point, Jeff, but the resolution could be so simple! But it must start NOW - not in a another week or in another month! According to the past trades, the 2% should not be a problem. However those who need to withdraw their entire principle are perhaps causing you some concern. Why not respectfully request that starting immediately you pay them their 2% bonus plus an additional 2% or 3% of their principle each month until such time as you can return their entire investment as they have requested?? For them to agree with this arrangement would most likely require a neutral person to observe all accounts and help you to remember which funds are yours to spend and which funds belong to those who have entrusted their money to you and deserve fair and honest treatment.
This is no longer a dictatorship -- it's time to play "Lets Make A Deal" with your investors!

Anonymous said...

Alex the correct answer is....return our money, plain and simple no more games, no more deadlines no more bulls@#%.

Anonymous said...

thank you 12:10 guy-best confirmed info we have heard.

Frankly all of these blast and negative cursing responses I see as non-productive. What good does it do?

waiting for the update email as patiently as possible.

Anonymous said...

I agree with the 5:37 pm Anonymous.

Anonymous said...

Maybe you and 5:37 are not invested as heavily as those that have such strong feelings, whatever the case it is an opprutunity for those who have been done so wrongly that may have such a strong dislike for what has happened to post their feelings. I guess if i were that offended i would quit coming here.

Anonymous said...

Wondering if Jeff has a plane and a motorcycle.

Anonymous said...

Since I don't have access to my personal email from work, I have not seen if we have an update from Jeff. Anything out there yet?

Anonymous said...

nothing yet in my inbox except from Edward Snook soliciting people to go after our principal with jeff.

Anonymous said...

Here is Mr. Snook's email--not sure who knows him or not. I would like to see some discussion on this also. I am like do i put MORE money in to get it, sounds kind of spendy as the only difference from one account to the next is how much we have in there-and it sounds like he is just trying to get principal only back-will Jeff come through?, not really sure what to think at this point. I am sure this will be widely discussed so here it is--good, bad or indifferent:


Mailing list information, including unsubscription instructions, is located at the end of this message.)

January 14, 2009
First Capital Savings & Loan Client:
I am writing you regarding your account with Jeff Lowrance at First Capital that is inaccessible and my proven ability to go after Jeff and your money. My name is Edward Snook and I own the US~Observer newspaper. The Observer has a solid 17-year track record of successfully going after bad and dishonest people in either the public or private sector.
On September 8, 2008, Jeff hired me to deal with a small number of his clients who were threatening him because of his failure to meet his contractual agreements. I was successful in stopping the threats. Caveats in our agreement required Mr. Lowrance to provide me with his client list and all of the facts germane as to the principal he received from over 500 investors. In addition I demanded he sign an agreement stating that monies covering my fees would not come from any investor’s principal – which he provided me.
Jeff assured you that he had your principle in an account that he couldn’t access until January 5, 2009, without suffering substantial pre-withdrawal penalties. Jeff also assured me in writing that he had all investor’s principal intact, while he waited for this date. Since this date has come and gone without the return of principal I have no other choice but to judge Mr. Lowrance as devoid of honesty and integrity. I assure all of you that while I have given Jeff Lowrance every benefit of doubt - I can’t now overlook the fact that he has lied to all of us while he has been “living high on the hog.”
I have knowledge that Lowrance has ample money in various locations due to my business dealings with him over this past year. He contracted with me for assistance in starting up a new venture in the newspaper business. Although his contractual agreement was financially rewarding to me he is still substantially in arrears at this time. Further, I have new information that Jeff does have his investor’s principle intact.
Due to Lowrance’s reluctance to fulfill our contract my only option is to initiate efforts to go after Lowrance’s assets, including bank accounts that he has control of. Throughout my professional career I have pursued cases, not unlike this one, with unparalleled success, and I see the outcome of this endeavor to follow suit. As a matter of fact, my efforts have assisted some of your fellow investors in receiving small, partial payments over the past few months; where there was no hope for them to be paid any amount without my involvement.
If you wish to partake in this principle investment recovery plan there will be an investor’s fee to reimburse me for my time and expenses. This job will most likely require that I travel outside the United States, incurring related travel expenses. My fees are listed below, along with phone numbers to call if you need additional information. I will also require all willing investors to sign a contract for my services. The contract will be sent to all interested parties upon request.
Although, I have started my investigation, the actual implementation of the plan will be delayed for approximately 2 weeks in order to give all interested parties a chance to retain my services. It is suggested that you access us via this email (ed@usobserver.com). With over 500 investors involved we would strongly suggest that you send us an email stating that you want to hire us and we will call you back as soon as possible. Be sure to include your contact information.
This recovery effort will be conducted on a first come first served basis. I have had 4 First Capital clients hire me ahead of time, so I would prompt all investors to not delay in retaining my services.
On January 28, 2009, we will stop taking any correspondence from investors who have failed to contract with us.
I should add that I have a number of First Capital investors assisting me in this recovery process. One of the phone numbers below is that of the person who started the now infamous Blog regarding Jeff Lowrance and First Capital. Obviously a number of FCSL investors, including the Blog Administrator investigated myself and the US~Observer to the point that they are satisfied I will be able to secure their principle for them.
In closing, I have added all 500-plus investor’s of First Capital to the US~Observer “email alert list.” If you don’t want to receive US~Observer “email alerts” simply unsubscribe automatically when one arrives. I have deleted the First Capital S&L list which is where your email address was obtained, along with all business name information about you, your phone numbers, etc. If you unsubscribe when you receive an email alert the US~Observer will no longer have any information that you even exist. Protecting your confidentiality is a major concern of mine – I have had to do so with many people over my 17 years with the US~Observer.
Best Regards,
Edward Snook
Chief of Investigations
US~Observer
Investors with $20,000 or less invested - $1,000.00 fee
Investors with $20,000 - $40,000 invested - $2,000.00 fee
Investors with $40,000 - $60,000 invested - $4,000.00 fee
Investors with $60,000 - $150,000 invested - $5,000.00 fee
Investors with over $150,000 invested - $10,000.00 fee
The following numbers can assist you in obtaining a contract:
US~Observer contact phone numbers: 541-474-7885 or 928-777-8851
Blog Administrator: 307-277-6577
FCSL Investor: 801 355 9561
FCSL Investor: 575 541 5610
US~Observer Office Fax: 541-472-0111

Anonymous said...

Hi all,
Sounds like our blog admin. has direct dealings with Mr. Snook. Any insight would be appreciated

Unknown said...

Hmmm, sounds fishy to me. Have to look into it more. Seems like we could do this a lot cheaper if we went in as a group. I know I could not come up with that much money for this if I bottled my blood. I suspect many others are in my situation. Having to pay per investor sounds expensive, seeing as the work involved is the same for the lawyer. I think this fella is trying to make hay out of this. I have a similar activity where I have 75 K involved and I am only into it about 300 bucks because we have hundreds of clients involved.

I am not saying Snooks isn't as valuable as he clearly thinks he is, but the price is too steep. Will be impossible for most.

Anonymous said...

I don't know. What do you all think? Is this going to help or hurt the cause? Does Jeff have the money or not?

Anonymous said...

For what it is worth... the address provided for US Observer is a real business that can be seen using Google Earth. Better already than what we had with FCSL...

Anonymous said...

From Jeff's previous emails it seemed as if he, at one point in time maybe even still, had a lot of respect for or fear of Ed. I bet this email gets to Jeff and once it does I bet it strikes a nerve and I am hoping that it expedites some sort of email promptly. I am willing to wait another day or two to see if this email has any influence on getting us an update and plan. I encourage everyone else to wait a day or two as well and not to commit anything to ED until at least we have another conference call

Anonymous said...

Fools,

Snooks is owed money and has made an arrangement with Jeff to use this ploy to get the rest of his money from us. Very clever.

In the unlikely event Snooks required the entire database from Jeff, that contract would never ever in a million years be allowed to be legally used against Jeff. Jeff would not let that happen.

There is too much suspect in thinking Jeff handed over the entire database without legal provisions for the use of it. There is something else smelly going on.

????

Anonymous said...

I fall in $10k Fee category and am wondering How clean is this guy. and what amount is he going to get me? My original amount + Interest . Over the years my interst is about twice the original amount I put in. What is the general consensus here. May be we ought to conduct a survey to see the following
1) How many are willig to sign up as is with Mr. Snooks
2) Suggest other options to be pursued ( reduced fees or different collector etc)
3) Ignore all these folks and give jeff a chance to come through by using this as leverage / Option to convice him that we will go this way if we have to.

We have 2 weeks and I dont know how much sleep I am goig to get the next few weeks. I am compltely shattered and my confidence any of these guys is Zero.

Anonymous said...

Mr. Snook seems to be someone we would like to have working for us as a group.
My bet is that he is more than capable of delivering on his promises.
That bet should also be corroborated by his good faith.
We should not forget that, if we are to ask him to do this, he will be working for us on our behalf.
That means we should maintain a measure of control over what the outcome will be pending the manner in which the work is done.

Thus my suggestion is to have us cover his immediate costs of travel and nothing more.
Mr. Snook's payment will come in the form of 10% of the negotiated release of the entire amount owed to us.

Example: Someone who is owed one million dollars in both principal and interest expects to receive what is contractually owed to them.
I would expect this if my account showed one million dollars total on FCSL. However, we are hiring Mr. Snook to negotiate on our behalf.
He negotiates with Mr. Lowrance to pay this person 800,000 dollars instead of one million ... at the discretion of the investor.
That means that we give him (Mr. Snook) a low amount that we're willing to accept as he performs the negotiation. It's a normal business tactic.
It doesn't matter if Mr. Lowrance knows about the procedure, only that he knows that it's going to happen this way.

This is going to be far better than the original principal, guaranteed. The fee from this transaction for Mr. Snook is 10% of the overall dollar amount retrieved.
When the negotiation for that one investor finishes, the document(s) is/are updated and the money is wired to two separate accounts.
There is no reason that Mr. Snook would not want to do this for a larger payout potential.
It does not constituate fraud or extortion if this money is legally owed to us and we give Mr. Snook the power to negotiate on our behalf.
This is how the IRS occasionally works with people who owe back taxes or how trustees work with people who must declare bankruptcy.

Pragmatically, there is no real argument against this as it fulfills everyone's goals.
Since Mr. Snook has a vested interest in the outcome already, giving him control over the payout of his own fees also seems logical.
It might mean an extended stay for negotiating purposes; but the results should be far better than if we pay him up front for the retrieval of only our initial principal.

Unknown said...

Good suggestion, but I don't know why we should pay him 10%. That is too high. His original fees based on his schedule would be good enough, and would represent a huge amount of money for him should he complete the job.

Anonymous said...

Does anyone else feel like this is spiralling out of control? I understand that Jeff called Mr. Snook today about the email so he is obviously aware of this.

If Jeff doesn't contact all of us today then I take that as a sign that he does not intend to hold up his end of the bargain.

First Capital Savings and Loan Client said...

I take the last eight months as a sign that Jeff does not intend to hold up his end of the bargain.

Anonymous said...

How many people did recieve the email and how many did not? I for one did not recieve the email, which is interesting considering he has the whole client list.

John said...

I recieved the email. It might be prudent to invite him to the conf call tomorrow night and discuss terms of his representation (Please, nobody say lets wait a little longer!). Outcome based compensation is more than fair. It's how the real world works. I for one don't have 5k lying around for an up front fee, so there's no other way for me to pursue Jeff. I would also like to discuss ways to LEGALLY pressure Jeff through USA Tomorrow.

Anonymous said...

I for one don't think we should send MORE money in at this point to another possibly UNKNOWN quantity.

Hopefully see it and responds but it seems suspicious that some are missing if he has the whole list and if he can find some of the money why the different fee structure. Is it any harder to find for more than one.

I checked out the US observer and his paper looks much the same as US Tomorrow.

anonymous said...

Doesn't the U.S. Observer look an awful lot like one of Jeff's business Ideas he told us about in an email he send on 7/15/08?

"I am developing a National Legal Defense Service which helps those who are falsely prosecuted. This, alone, is worth the publishing of USA Tomorrow. Hundreds of thousands of people in this country are in jail for no reason at all. Or, because they are a "deadbeat dad" (supposedly), they are "administrative criminals" or some sort of that. They are in jail because of a plea bargain or they were railroaded somehow, and not because they received their Constitutionally-protected right to a jury trial. They were supposedly convicted of a "crime". And yet the judges and courts just don't seem to care. It is a money-making racket for them. As disgusting as this may sound, it is shown to be true that we have only 5% of the population of the world that live in the US, but yet we have 26% of the global prison population! I said that right! We are, by far, the prison capitol of the world. Friends, that is worse than Russia and China combined. And yet is there anyone doing anything about that? Yes, but very few. USA Tomorrow will greatly enhance the work of those few local patriots, by providing a national reach in our ability to help defend the defenseless. We have a growing network of great patriotic attorneys and investigative journalists who are legally pushing crooked government employees back on their heels, as they should be. These people have long track records of success, but never get any national media coverage. Government hacks overstep their authority always! But that is another subject for another day. We covered some of this topic in our first issue of USA Tomorrow. There is a more complete article coming out in the next issue."

Anonymous said...

there is a article written by MR. Snook on the usatomorrow.us site

sounds like they may have share some very common grounds...

Anonymous said...

Yes, and the common ground they share is that they're both part of the scam team.