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  1. #1
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    Sun Village/Maxim bungalows Ponzi

    Here we go again with the Sun Village/Maxim bungalows Ponzi:


    Last edited by Administrator; 03-06-2014 at 05:33 PM. Reason: Who changed the title on this thread?!!!!

  2. #2
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    Re: Sun Village/Maxim bungalows Ponzi

    THANKS!!!!! i WAS ALSO LOOKING HOW TO START A NEW THREAD.

    :):):)

    Do they really think we LOST SOMETHING?

    We come back with diligence and determination !!!
    Last edited by angryintx; 01-27-2013 at 03:28 PM.

  3. #3
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    Re: Sun Village/Maxim bungalows Ponzi

    Quote Originally Posted by angryintx View Post
    THANKS!!!!! i WAS ALSO LOOKINBG HOW TO START A NEW THREAD.

    :):):)

    I am a bit tied up for the next two days and then I will start recreating the information.

    I wonder if it had anything to do with Felix Dennis - the wanker.

    HAHA he fits the definition to a tee when you read felixdennis.com

    All self promoting dribble and boring as watching paint dry.

    Tell us Mr. Dennis how did you earn your money again?

    Microwarehouse - insider trading

    Maxim Bungalows - investment fraud

  4. #4
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    Re: Sun Village/Maxim bungalows Ponzi

    Don't give up!!

    Be there when we need you!

    Come back SOOOON!!!!

    JUST THINK.....
    Last edited by angryintx; 01-27-2013 at 08:47 PM.

  5. #5
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    Re: Sun Village/Maxim bungalows Ponzi

    Come back sooooooon......
    Last edited by angryintx; 01-27-2013 at 08:47 PM.

  6. #6
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    Re: Sun Village/Maxim bungalows Ponzi

    http://dominicanwatchdog.org/page-<f...public_</font>


    Sun Village, Biggest Ponzi-timeshare scam ever in Dominican Republic
    (theglobeandmail.com) - Before his business crumbled amid allegations of fraud, Ontario entrepreneur Derek Elliott ran a luxurious but money-losing resort in the Dominican Republic that once hosted Hollywood celebrities and a Maxim magazine beauty pageant.



    Now, he faces a complaint from the U.S. Securities and Exchange Commission that he and a former U.S. business associate, James Catledge, were behind an “international fraudulent scheme.”

    The SEC alleges that the pair sold timeshares and ownership interests in Mr. Elliott’s resorts and took in more than $163-million (U.S.) from about 1,200 investors, who were “falsely” promised attractive guaranteed returns. The allegations have not been proven.

    Mr. Elliott, 41, of Hillsburgh, Ont., northwest of Toronto, ran the Sun Village Resort & Spa near Puerto Plata until 2009. That’s when local banks foreclosed on the property after a lawsuit filed by investors in Florida alleged he and his father, Fred, had blown investor cash on private luxuries like a small plane and gambling expenses. They denied those allegations, and the case against them got bogged down in legal wrangling before being dismissed.

    The SEC’s complaint, filed in federal court in Nevada on May 24, contains similar allegations about the way timeshares and ownership interests were sold to investors by Derek Elliott and Mr. Catledge, who is based near San Diego and was the head of various “multi-level marketing” companies.

    In a “road show” put on for investors called “Real Estate Secrets of the Wealthy,” the SEC complaint alleges, the pair falsely guaranteed quarterly payments of 8 to 12 per cent to convince investors to invest their home equity and savings in the Sun Village resort and another hotel being remodelled near Juan Dolio.

    But very little of the $163-million in investors’ money ended up going into the resorts, the SEC alleges. Nearly $59-million went into “exorbitant” commissions for Mr. Elliott, Mr. Catledge and their related companies, the SEC alleges.

    Of the $91.2-million raised for the Juan Dolio hotel alone, the SEC alleges, Mr. Elliott spent just $8-million on construction, including $1.8-million in construction payroll. The hotel was never completed.

    Investor funds for the Juan Dolio hotel were used to pay returns to previous investors in the Sun Village, the SEC alleges: “Consequently, the Elliott resorts operated as a Ponzi scheme.”

    Investors weren’t told about the commissions, and were reassured that the first Sun Village resort was profitable even though it was losing millions of dollars a year, the SEC alleges. Investors also weren’t told, according to the SEC, that Mr. Elliott and Mr. Catledge had reneged on a 2007 agreement to refund $3.4-million to Idaho investors for breaking securities laws, after an investigation by the state’s department of finance.

    The SEC is demanding financial penalties and that Mr. Catledge, Mr. Elliott and their companies “disgorge all ill-gotten gains.”

    Mr. Catledge, whom Mr. Elliott has previously blamed for the problems in Florida court documents, could not be reached for comment. Neither could a U.S. lawyer he has retained.

    Mr. Elliott, who has since launched a new luxury vacation rental website called Preferred Escapes, said he had not heard about the SEC allegations when contacted by The Globe and Mail.

    “I’m not aware of it, and I can’t really give you a comment,” he said, referring further comment to his lawyer, who could not be reached on Tuesday.



    www.courthousenews.com - Owners of two Caribbean timeshares bilked 1,200 investors out of $163 million in a five-year Ponzi scheme that netted them US$58.9 million in commissions, the SEC claims in Federal Court.

    James B. Catledge and Derek F. C. Elliott, through their company Net Worth Solutions, paid themselves "exorbitant undisclosed sales commissions" from sales of securities for two resorts in the Dominican Republic, the SEC claims.

    The two types of securities were known as "Residence" and "Passport" investments, for timeshare and timeshare ownership interests respectively,

    The men promised annual returns of 8 percent to 12 percent on Residence investments and 5 percent annually on Passport investments, according to the complaint.

    Investors were told their returns were guaranteed. "Nevertheless, only a very small percentage of investor funds were actually used to renovate and construct the properties," the SEC says in the complaint. Instead, defendants skimmed undisclosed commissions and used new money to pay off earlier investors, the SEC says.

    Catledge, 44, of San Diego, founded "a series of multi-level marketing entities that sold investments in Elliott resorts," the first of which was used for Impact America, followed by Impact Net Worth and Net Worth Solutions, according to the complaint.

    Elliott, 41, of Hillsburgh, Ontario, was the company's president.

    Catledge and his father bought the Cofresi resort in the Dominican Republic in 2003, but by 2004, "they needed additional funds to finish construction and make repairs," the complaint states. They hired Catledge to raise money for the resort, the SEC says.

    EMI Sun Village Inc., which owned the resort, targeted investors in the western United States to buy Residence resort investments.


    Earlier articles:

    New lawsuits in the Derek Elliott and Sun Village timeshare dispute(Update 2)

    Businessweek article about Derek Elliott's USD 170M Ponzi scheme

    Second restraining order issued in Dominican Republic against Canadian development teams’ assets



    Dominican Watchdog Note: This is not the only timeshare scam in the Dominican Republic, you should read all scam forums on the internet before buying timeshare in the Dominican Republic - There is no legal system or "cool down" period protecting you in the DR. If you paid, they money is gone!!!



    Go back | Date: 02 Jun 2012
    Last edited by angryintx; 01-27-2013 at 08:46 PM.

  7. #7
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    Re: Sun Village/Maxim bungalows Ponzi

    THE INFAMOUS MAXIM BUNGALOWS !!

    The Licensing Agreement with Felix Dennis SIGNATURE ON IT !!!


    WHAT a piece of evidence!!!

    I think I need to resend that to the IMPORTANT PEOPLE INVESTIGATING THIS PONZI SCAM.


    Oh yeh, REMEMBER THIS ........

    The Licensing Agreement where the MAXIM BUNGALOWS was INCREASED from 168 to 240 MAXIM BUNGALOWS ??

    THAT WAS THE ENTIRE JUAN DOLIO RESORT !!!
    UNDENIABLE !!!


    AND "THEY" thought it would not be found.

    LOTS of people have copies of THAT PIECE OF EVIDENCE !!!


    HOW much $$$$$$ did Felix Dennis/Dennis Publishing/Alpha Media get for those LICENSING AGREEMENTS?

    psss......Donald Trump tried that trick, too, and got caught....
    RED-HANDED, RED-FACED, AND RED HAIR !!!
    Last edited by angryintx; 01-29-2013 at 08:41 AM.

  8. #8
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    Re: Sun Village/Maxim bungalows Ponzi

    http://www.prnewswire.com/news-relea...-58635032.html



    Elliott(TM) and Dennis Publishing Bring 5-Star Hospitality to the Dominican Republic

    Maxim Bungalows Set New Standards in Luxury with Accommodations that Offer

    Elite Guest Privileges and Experiences



    PR Newswire (http://s.tt/1xNBX)


    COFRESI BEACH and JUAN DOLIO, Dominican Republic, May 29

    /PRNewswire/ -- Elliott(TM), a leader in resort hospitality and real estate in the Dominican Republic, [B]announced today an exclusive partnership with Dennis Publishing,[/B] the parent company of the world renowned Maxim Lifestyle brand, to launch 'Maxim Bungalows' in two locations in the Dominican Republic. The two locations are Cofresi Beach on the country's north coast in the Puerto Plata region and Juan Dolio on the south coast, close to the capital city Santo Domingo. (Photo: http://www.newscom.com/cgi-bin/prnh/20070529/NYTU024 Logo: http://www.newscom.com/cgi-bin/prnh/...29/NYTU024LOGO )

    MAXIM BUNGALOWS AT COFRESI BEACH Opening in October 2007, Maxim Bungalows at Cofresi Beach will feature 108 studio, one and two bedroom luxury bungalow accommodations for those looking for an escape from the city hustle and bustle. The resort is located only 30 minutes from the Puerto Plata Gregorio Luperon Airport and 60 minutes from the Cibao International Airport in Santiago. Guests staying at Maxim Bungalows will enjoy unparalleled luxury service. Each guest will be greeted at the airport and driven to the resort by a luxury SUV and given VIP access on and off property at all the top restaurants, bars and golf courses. Each bungalow will be appointed with 5 star amenities geared to sophisticated travelers including resort-wide WI-FI, iHome audio capabilities, plasma screen TVs, and superior personal care products. Maxim guests will unwind and enjoy beeptails under the Caribbean sun whether it is by the pools, cabanas, lounge or beach reserved exclusively for the guests of the Maxim Bungalows. Maxim Bungalow guests will also be able to enjoy preferential access to The Spa, a new state of the art 17,000 square-foot spa and fitness center that offers a range of premier quality products and services for mind, body and soul. The 54 foot Maxim yacht, 'Independence,' will be available exclusively for Maxim guests to charter for day trips and evening soirees. For surfing and kite boarding enthusiasts, Maxim Bungalows at Cofresi Beach are a short distance from the nearby village of Cabarete. Guests will also enjoy active vacation adventures in the Puerto Plata region with scuba diving, sailing, white water rafting, hiking, golf and other local excursions.

    MAXIM BUNGALOWS AT JUAN DOLIO

    The second location selected for the Maxim Bungalows experience is scheduled to open in early 2008. Located on the south coast of the Dominican Republic overlooking the Caribbean Sea, the new beach resort is only 25 minutes east of the Santo Domingo Las Americas International Airport. Situated between the booming city of Santo Domingo and the resort town of La Romana, Maxim Bungalows will cater to people looking for a more urban experience found in places such as South Beach, Florida. The 240 rooms will range from studio bungalows to Grand Presidential suites. Like the Maxim Bungalows at Cofresi Beach, each bungalow will be appointed with luxury amenities. The resort features world class dining at three restaurants, a spectacular beachfront and an extensive pool surrounded by cabanas and a lounge. Situated in Juan Dolio, Maxim Bungalows are minutes away from some of the greatest golf courses in the Caribbean. The Gary Player signature Guavaberry Golf Course is within 10 minutes of the property, and La Romana is just one hour away, where guests can enjoy the famous Teeth of the Dog and Dye Fore in the exclusive community of Casa de Campo. Guests can also spend time in Santo Domingo, the capital of the Dominican Republic and a city with rich history, distinguished dining, a dynamic nightlife scene and extensive shopping. The Colonial Zone, the original settlement of Columbus and the Spanish explorers, is the oldest city in the Americas and one of the most historical areas of the Caribbean. History comes alive with landmarks including the gorgeous palace, El Alcazar De Colon, Fort Ozama, and the First Cathedral in America. "With the Dominican Republic becoming the newest hot spot in the Caribbean, it was finally time to build an ultra luxury resort for the new generation of traveler. Our partnership with Maxim caters to travelers with disposable income who are looking for the next adventure," said Derek Elliott, President and Chief Executive Officer of Elliott(TM). Stephen Colvin, President and Chief Executive Officer of Dennis Publishing, Inc. said, "We are delighted to be in partnership with Elliott to create these superb 5 star destinations on this truly wonderful Caribbean island. Life is better when you are having fun and a vacation at the bungalows will turn grown adults into gushing children as they escape the stresses and strains of their daily lives and indulge in the numerous amenities available, such as a trip on the yacht to the private 'Castaway Beach' for their own private BBQ and snorkeling." The Dominican Republic, with regularly scheduled flights from North America, is only 3 1/2 hours from New York City, 2 1/2 hours from Atlanta and 1 hour and 45 minutes from Miami. It is a natural American vacation paradise situated between the islands of Cuba and Puerto Rico in the heart of the Latin Caribbean. For more information or to register for pre-booking, please visit: www.maximbungalows.com.


    ABOUT ELLIOTT(TM)
    Founded in 1977 by Frederick Charles Elliott, Chairman and Founder, Elliott(TM) continues its growth today in resort, hospitality, and entertainment industries. Mr. Elliott was joined by his son, Derek F. C. Elliott, President and Chief Executive Officer, as the company continued to grow its investment and real estate divisions. Elliott's first investment in the Dominican Republic took place in 1987 and today, the company owns the Sun Village Resort & Spa brand and hosts the Annual Dominican International Film Festival at Sun Village Resort & Spa Cofresi each year in November. In addition to the annual film festival, Elliott(TM) plays host to a number of location shoots for feature film productions. The Elliott Foundation was established to raise funds and respond to important causes throughout the Dominican Republic, and today is dedicated to developing and promoting programs that benefit those in need throughout the country.

    ABOUT DENNIS PUBLISHING Dennis Publishing, Inc. is a media company that publishes the two most successful modern men's lifestyle magazines in America -- Maxim (2.5 million rate base) and Stuff (1.3 million rate base) -- along with general interest music magazine Blender (Advertising Age's Launch of the Year and Adweek's Hot List), and The Week, a compilation of the week's most important domestic and international news (Advertising Age's A-List). Maxim, Stuff, Blender and The Week are registered trademarks of Felix Dennis.

    SOURCE Elliott(TM)
    PR Newswire (http://s.tt/1xNBX)




    Last edited by Administrator; 12-31-2013 at 11:53 AM.

  9. #9
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    1,514

    Re: Sun Village/Maxim bungalows Ponzi

    Dominican Republic Real Estate Developer Frederick C. Elliott Partners
    with Maxim, a Men's Lifestyle Magazine, to Brand Two Dominican
    Republic Resorts the Maxim Bungalows



    DOMINICAN REPUBLIC - June 2007 - Elliott™, a leader in resort hospitality and real estate in the Dominican Republic, announced today an exclusive partnership with Dennis Publishing, the parent company of the world renowned Maxim Lifestyle brand, to launch ‘Maxim Bungalows’ in two locations in the Dominican Republic. The two locations are Cofresi Beach on the country’s north coast in the Puerto Plata region and Juan Dolio on the south coast, close to the capital city Santo Domingo.
    “With the Dominican Republic becoming the newest hot spot in the Caribbean, it was finally time to build an ultra luxury resort for the new generation of traveler. Our partnership with Maxim caters to travelers with disposable income who are looking for the next adventure,” said Derek Elliott, President and Chief Executive Officer of Elliott™.
    Stephen Colvin, President and Chief Executive Officer of Dennis Publishing, Inc. said, “We are delighted to be in partnership with Elliott to create these superb 5 star destinations on this truly wonderful Caribbean island. Life is better when you are having fun and a vacation at the bungalows will turn grown adults into gushing children as they escape the stresses and strains of their daily lives and indulge in the numerous amenities available, such as a trip on the yacht to the private ‘Castaway Beach’ for their own private BBQ and snorkeling.”


    Opening in October 2007, Maxim Bungalows at Cofresi Beach will feature 108 studio, one and two bedroom luxury bungalow accommodations for those looking for an escape from the city hustle and bustle. The resort is located only 30 minutes from the Puerto Plata Gregorio Luperon Airport and 60 minutes from the Cibao International Airport in Santiago. Guests staying at Maxim Bungalows will enjoy unparalleled luxury service. Each guest will be greeted at the airport and driven to the resort by a luxury SUV and given VIP access on and off property at all the top restaurants, bars and golf courses.
    Each bungalow will be appointed with 5 star amenities geared to sophisticated travelers including resort-wide WI-FI, iHome audio capabilities, plasma screen TVs, and superior personal care products. Maxim guests will unwind and enjoy beeptails under the Caribbean sun whether it is by the pools, cabanas, lounge or beach reserved exclusively for the guests of the Maxim Bungalows. Maxim Bungalow guests will also be able to enjoy preferential access to The Spa, a new state of the art 17,000 square-foot spa and fitness center that offers a range of premier quality products and services for mind, body and soul.
    The 54 foot Maxim yacht, ‘Independence,’ will be available exclusively for Maxim guests to charter for day trips and evening soirees. For surfing and kite boarding enthusiasts, Maxim Bungalows at Cofresi Beach are a short distance from the nearby village of Cabarete. Guests will also enjoy active vacation adventures in the Puerto Plata region with scuba diving, sailing, white water rafting, hiking, golf and other local excursions.

    Maxim Bungalows at Juan Dolio, the second location selected for the Maxim Bungalows experience is scheduled to open in early 2008. Located on the south coast of the Dominican Republic overlooking the Caribbean Sea, the new beach resort is only 25 minutes east of the Santo Domingo Las Americas International Airport. Situated between the booming city of Santo Domingo and the resort town of La Romana, Maxim Bungalows will cater to people looking for a more urban experience found in places such as South Beach, Florida.
    The 240 rooms will range from studio bungalows to Grand Presidential suites. Like the Maxim Bungalows at Cofresi Beach, each bungalow will be appointed with luxury amenities. The resort features world class dining at three restaurants, a spectacular beachfront and an extensive pool surrounded by cabanas and a lounge.
    Situated in Juan Dolio, Maxim Bungalows are minutes away from some of the greatest golf courses in the Caribbean. The Gary Player signature Guavaberry Golf Course is within 10 minutes of the property, and La Romana is just one hour away, where guests can enjoy the famous Teeth of the Dog and Dye Fore in the exclusive community of Casa de Campo.

    Founded in 1977 by Frederick Charles Elliott, Chairman and Founder, Elliott™ continues its growth today in resort, hospitality, and entertainment industries. Mr. Elliott was joined by his son, Derek F. C. Elliott, President and Chief Executive Officer, as the company continued to grow its investment and real estate divisions. Elliott’s first investment in the Dominican Republic took place in 1987 and today, the company owns the Sun Village Resort & Spa brand and hosts the Annual Dominican International Film Festival at Sun Village Resort & Spa Cofresi each year in November. In addition to the annual film festival, Elliott™ plays host to a number of location shoots for feature film productions. The Elliott Foundation was established to raise funds and respond to important causes throughout the Dominican Republic, and today is dedicated to developing and promoting programs that benefit those in need throughout the country.

    Frederick C. Elliott is both Founder and Chairman of Elliott, the dynamic parent company that manages and operates Sun Village Resorts. Mr. Elliott has been a successful entrepreneur in the financial services industry since 1967 when he completed his training with Mutual of Omaha. In 1969, Mr. Elliott joined Investor Syndicate Limited, for which he managed and led regional offices for 15 years, reaching stellar achievement levels and earning company-wide recognition, including four top producer and management leadership awards. During this highly productive period, Mr. Elliott also took a significant leadership role in the creation of mutual funds and financial planning in the investment industry.
    In 1987 Mr. Elliott took his real estate investment experience further and began to utilize international structures with benefits not available to investors in the United States and Canada. By 1994, investing in income-generating resort properties in the Caribbean had become Mr. Elliott’s primary focus. In cooperation with his son, Derek E. C. Elliott, Fred Elliott began the development of a spectacular resort property in Cofresi Beach, Dominican Republic. Since 1996, Mr. Elliott Has continued to play a key role in the equity financing and development of the Sun Village Resort & Spa, Cofresi Beach, Dominican Republic.

    Dennis Publishing, Inc. is a media company that publishes the two most successful modern men's lifestyle magazines in America -- Maxim (2.5 million rate base) and Stuff (1.3 million rate base) -- along with general interest music magazine Blender (Advertising Age's Launch of the Year and Adweek's Hot List), and The Week, a compilation of the week's most important domestic and international news (Advertising Age's A-List). Maxim, Stuff, Blender and The Week are registered trademarks of Felix Dennis.
    .



    Contact: Kendra Foley
    Susan Magrino Agency
    641 Lexington Ave., 28th Fl
    New York, New York 10022
    kendra@smapr.com
    Tel: 212-957-3005


    http://www.hotel-online.com/News/PR2...7_MaximDR.html
    Last edited by Administrator; 12-31-2013 at 11:53 AM.

  10. #10
    Join Date
    Mar 2009
    Posts
    1,514

    Re: Sun Village/Maxim bungalows Ponzi

    http://sunvillagefacts.blogspot.com/...t-casinos.html

    Tuesday, December 21, 2010

    Money spent at the Casinos


    This amount of $119,865 is completely wrong. I'm sure Judge Gold knows the correct numbers. I wonder why he did not nail them for perjury. He must have known because document 884 says: “Those details do not agree with the information separately received by the manager.”
    This may be closer to the truth although I believe this is not everything:
    Date
    11/24/2004
    Amount
    100,000.00
    Ordering Customer
    WWIN
    Sender's Correspondent
    FCIB (Bahamas)
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HGL
    Remittance Information



    Date
    12/15/2004
    Amount
    50,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG
    Remittance Information



    Date
    2/14/2005
    Amount
    25,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG
    Remittance Information



    Date
    10/5/2005
    Amount
    100,000.00
    Ordering Customer
    CCW Limited
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information



    Date
    10/6/2005
    Amount
    25,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information
    RFB Mike Fitzpatrick


    Date
    11/10/2005
    Amount
    130,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information
    RFB Ref J. Ferrell


    Date
    1/13/2006
    Amount
    100,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information
    RFB Derek Elliott


    Date
    4/6/2006
    Amount
    100,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information
    RFB Derek Elliott


    Date
    7/5/2006
    Amount
    150,000.00
    Ordering Customer
    CCW Dominicana SA
    Sender's Correspondent
    Banco Popular Dominicano
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG
    Remittance Information
    RFB Derek Elliott


    Date
    8/31/2006
    Amount
    75,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information
    RFB Derek Elliott


    Date
    12/15/2006
    Amount
    25,000.00
    Ordering Customer
    CCW Ltd
    Sender's Correspondent
    Banco Multiple Leon, S.A.
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information



    Date
    2/6/2007
    Amount
    75,000.00
    Ordering Customer
    CCW Dominicana SA
    Sender's Correspondent
    Banco Popular Dominicano
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG Rio Suite Hotel and Casino
    Remittance Information
    RFB Derek Elliott


    Date
    4/8/2008
    Amount
    50,000.00
    Ordering Customer
    CCW Dominicana SA
    Sender's Correspondent
    Banco Popular Dominicano
    Beneficiary's Account
    990117921
    Beneficiary Customer Name
    HLG
    Remittance Information
    RFB Derek Elliott

    Total Gambling Fun: 1,005,000.00


    - See more at: http://www.scam.com/showthread.php?p...68#post1300968
    Last edited by Administrator; 12-31-2013 at 11:55 AM.

  11. #11
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    Mar 2009
    Posts
    1,514

    Re: Sun Village/Maxim bungalows Ponzi

    http://dominicanwatchdog.org/dominic..._Derek_Elliott

    Elliott Group admits “difficulties,” - Watch the videos with Derek Elliott! Real Estate, Dominican Republic. - The representative of the Elliott Hotel Group which operates in Dominican Republic through the company Sun Village Resorts, admitted having the partnership’s difficulties to finish construction of a hotel and real estate project in Juan Dolio (south), consisting of three buildings with beachfront, and clarified that his companies are in a consolidation process to meet their the commitments with buyers of vacation packages from the United States.

    Derek Elliott, speaking with media executives in his hotel located in Cofresí, said construction of the Juan Dolio project is as much as 75 percent completed, and plans to sell a 4,700 meter lot adjacent to the site, which is also the zone’s only empty lot with beachfront.

    Elliott said the group also owns a property in Miches (northeast), acquired for a tourism development, which is in the process of selling to focus its investments in Port Plata and Juan Dolio.
    He said the Group had problems since it decided to outsource the area of sales. “The experience wasn’t good and we’re convinced that we must have our own sales team. In this property in Cofresí we have finished here and we made important investments and we concluded our obligations.”
    SOURCE: clavedigital.com/DominicanToday.com

    Watch videos from the court hearing in Miami with Derek Elliott Depositions Excerpts
    Join Stop Dominican Property Sharks to discuss how to protect investors in the Dominican Republic - Here is todays post from Pedro Castelblanco:
    Dominican Broker and Developer Conspiracy (Part 2)

    To maintain my Florida Real Estate Broker's license I have to make sure that I don't use 5 phrases, when dealing with a consumer Buyer anywhere in the world not just Florida. Failure to do so could result in a complaint that could suspend my license until proceedings reveal a true violation or not. These phrases are all commonly heard as matras repeasted verbatim as "lures" by trolling Developers and Brokers in the DR. To be honest there are some Florida licensees that also use these phrases too, but they don't last very long in the industry because they only get in for the fast buck and go back to waiting tables as soon as the market crashes. Actually, I can legally use all these words, but only in commercial transactions that exceed $ 1 million in value, where the law assumes the buyers (rich enough) are sufficiently aware they are transacting an investment property with cash flow projections based on actual or proposed market conditions and should hire reliable support in the Due Diligence process and hold me harmless.

    These forbidden words are:
    1. Appreciation on Resale (most applicable for preconstruction)
    2. Investment Potential
    3. Return on Investment (appreciation or rental income)
    4. Guaranteed Rental Demand/Income
    5. Projections of any kind based on past or future market conditions


    I remember the first thing I heard from Sales people in Punta Cana was the lie about Rental demand. Some Developers even Guaranteed Rental Income for 2 or more years and or Returns on Hotel Rental plans based on a percent of purchase price. It was embarassing to hear mature adults tell me that the demand for luxury rental properties in Punta Cana was very high and expected to grow as if they had a crystal ball. I asked what industry supports high rents here? I don't see any corporate jobs! There auto response is that the Hotel executives were all demanding luxury homes and Condos for their families and would pay $1,500 - 3,000 a month rent without a problem. I was able to debunk that fast as a total fabrication when I confirmed my beliefs that Hotel executives where so poorly paid that they were normally housed on site and given meals to compensate for low wages. But anyone who didn't know any better was sure to fall for that given the amount of hotel growth in the East.

    The other lie was that a Rental Pool/Plan could provide me a stable rental income that many were willing to guarantee me, when not using my property. They told me tourists sought luxury rentals as a cheaper alternative to the Hotels. This one was almost believeable for anyone until they actually tried to function outside of a hotel in Punta Cana. It was so evident to me that no one in their right mind would swap an "All Inclusive" package for a Condo just to save a couple of dollars. All they had to do was add it up and realize it wasn't cost effective given all the added costs and incoveniences of Punta Cana life. I can't imagine even the cheapest tourist on a budget would choose to go through cooking, cleaning, shopping, driving around Moto Conchos to Hiquey to shop, pay 16% tax, high gas, rental car and struggle with the language during a restful week vacation. I can see how it is a viable option on the North Coast as an alternative by those who want to stay for a season, but with all the competitive prices in "All Inclusive" it won't be a real threat to Hotels for at least another decade when Punta Cana will get civilized. It was even a struggle for me to put up with the poor quality of life issues while living there.

    I am just trying to prove my point that you can expect Brokers and Developers who are unlicensed or regulated to cover themselves with big fat lies that dupe the tourists that normally come from licensing countries and believe there is also some governing agency for all these liars in the DR. I would never be in a profession where only a lie would consumate a sale



    Date: 24 Jul 2009
    Last edited by angryintx; 01-28-2013 at 10:14 AM.

  12. #12
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    Re: Sun Village/Maxim bungalows Ponzi

    http://www.courthousenews.com/2012/05/29/46878.htm

    Tuesday, May 29, 2012Last Update: 5:18 AM PT




    Ponzis Just Kept on Growing, SEC Says


    By NICK DIVITO



    ShareThis


    LAS VEGAS (CN) - Owners of two Caribbean timeshares bilked 1,200 investors out of $163 million in a five-year Ponzi scheme that netted them $58.9 million in commissions, the SEC claims in Federal Court.
    James B. Catledge and Derek F. C. Elliott, through their company Net Worth Solutions, paid themselves
    "exorbitant undisclosed sales commissions" from sales of securities for two resorts in the Dominican Republic, the SEC claims.
    The two types of securities were known as "Residence" and "Passport" investments, for timeshare and timeshare ownership interests respectively,
    The men promised annual returns of 8 percent to 12 percent on Residence investments and 5 percent annually on Passport investments, according to the complaint.
    Investors were told their returns were guaranteed. "Nevertheless, only a very small percentage of investor funds were actually used to renovate and construct the properties," the SEC says in the complaint. Instead, defendants skimmed undisclosed commissions and used new money to pay off earlier investors, the SEC says.
    Catledge, 44, of San Diego, founded "a series of multi-level marketing entities that sold investments in Elliott resorts," the first of which was used for Impact America, followed by Impact Net Worth and Net Worth Solutions, according to the complaint.
    Elliott, 41, of Hillsburgh, Ontario, was the company's president.
    Catledge and his father bought the Cofresi resort in the Dominican Republic in 2003, but by 2004, "they needed additional funds to finish construction and make repairs," the complaint states. They hired Catledge to raise money for the resort, the SEC says.
    EMI Sun Village Inc., which owned the resort, targeted investors in the western United States to buy Residence resort investments.
    A purchaser of such investment could occupy a room at the resort based on his or her investment. The investor was to get a so-called "no-use fee" [NUF] of 8 to 12 percent of the amount invested, paid quarterly, if he or she did not use the time share.
    At the end of five years, investors were told, they could get their investment back or roll it over for another five years for an increased "no-use" fee.
    "These representations, coupled with the fact that the NUF rate was much higher than was available at a traditional lending institution at the time, made the Residence investment extremely attractive to investors," according to the complaint.
    Although Cofresi still was not completed, Elliott and his father bought Sun Village Juan Dolio, another hotel in the Dominican Republic, in 2005 for $12.6 million, "consisting of the assumption of $8.75 million in existing bank debt and a down payment of approximately $4 million," the SEC claims.
    The two at first raised money from investors in Juan Dolio by selling Residence investments "that had been used to raise money for Cofresi," the SEC says.
    By October 2005, the two began marketing another type of investment, called the Passport, which is a fractional ownership interest rather than a timeshare.
    "Like the 'Residence' investment, it was sold as a fixed income investment, but instead of an NUF fee the investor was promised a return of 5 percent annually on his investment, paid quarterly, until Juan Dolio opened," the SEC says.
    After that, the investor would "split the rack," or split equally the net rental proceeds for the unit with the hotel.
    Investors were required to invest half in cash and half by promissory note, at 8 percent interest. But investors were not told that the commissions of up to 40 percent would be deducted from their cash investment, the SEC says.
    For example, if an investor put down $100,000 - $50,000 in cash and $50,000 in the form of a note - $40,000 would be taken from the down payment, leaving only $10,000 cash for construction or other expenses.
    Construction at Juan Dolio was never completed, and it never opened to guests, the SEC says.
    In 2005, Catledge formed another company called DRCI (Dominican Republic, Cook Islands) to funnel more commissions to himself independently of Net Worth, the SEC says, totaling "in excess of $15 million through 2009."
    "In 2006 Elliott became interested in developing yet another resort in the Dominican Republic, even though Cofresi was losing money and Juan Dolio was still under construction," the SEC says.
    The oceanfront property on the northeast coast of the island was to be called Miches.
    Nearly $7.5 million of Juan Dolio investor money was used to fund the down payment for the land, but investors were never told of this, the SEC says.
    Idaho's attorney general got involved in 2007, and after an investigation, the parties entered into a consent decree and agreed to make rescission offers to all investors in Idaho. But the offers were never rescinded, and the attorney general filed a complaint in 2009, alleging that the $3.4 million Net Worth raised in Idaho from 2005 and 2007 violated Idaho securities laws.
    Defendants bought about $72.6 million worth of investments in Cofresi and $91.2 million in Juan Dolio, the SEC says. And although $91.2 million was raised for Juan Dolio, Elliott spent only $8 million on its construction, "of which $1.8 million or more was classified as construction payroll," the SEC claims.
    "Therefore, only 9 percent of the money raised from Juan Dolio investors was spent on construction," the SEC says. "Instead, investor funds were funneled to the payment of commissions, to Net Worth, Catledge and Elliott and his related entities."
    In total, $21.1 million was paid in commissions from the $73 million invested in Cofresi, the SEC says. About $37.8 million of the invested $91 million raised for the Juan Dolio project went to commissions, according to the complaint.
    While defendants were taking their commissions, Cofresi experienced "millions of dollars in losses from operations" every year through 2008, the SEC says.
    Lenders foreclosed on both properties in 2009.
    Juan Dolio investor money was used to pay Cofresi's expenses, "to buy a yacht as an amenity for the resort, and to buy the Miches property," the SEC says. Juan Dolio investor money also was used to pay "NUFs" to Cofresi investors.
    Investors were not told of any of this, the SEC says.
    The SEC seeks disgorgement, penalties, and an injunction.




  13. #13
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    Re: Sun Village/Maxim bungalows Ponzi

    http://dominicanwatchdog.blogspot.co...-lying-to.html

    Derek Elliott was lying to DominicanToday

    Developers’ sworn statements and court filings differ substantially from recent comments to media

    JUAN DOLIO, Dominican Republic, – Although the developers of the Sun Village Juan Dolio resort claimed in a May 28th press conference that the hotel project was “as much as 75 percent complete,” their sworn statements, recent court filings, and photos of the property taken yesterday tell a dramatically different story.

    Based on their sworn statements to the U.S. Courts, Canadian father-son expatriates Frederick and Derek Elliott are clearly trying to mislead the press, and thereby investors, as to the progress at the Sun Village Juan Dolio.

    “Derek Elliott’s comments to the media were designed to show their project is rapidly moving forward to completion, when in fact nothing could be further from the truth,” said Jose Alfredo Rizek, attorney for the purchasers. A private investigator working for the former purchasers took photos of the property immediately after the press conference.

    According to court documents, the Elliotts have raised $91 million for the Sun Village Juan Dolio project since 2004. For comparison, the most expensive high-rise commercial property in downtown Santo Domingo has a $40 million commercial retail value, said Rizek.

    In recent depositions, the Elliotts admitted that they took $25 million of the $91 million collected from investors. In those same depositions, the Elliotts also admitted that if they had not taken this money, the Juan Dolio resort would have been completed. The Elliotts also stated that $7.5 million of the investor funds designated for construction, were used to purchase a separate DR property in Miches. This purchase was made without notifying or obtaining authorization from their investors.

    “The Juan Dolio property remains in serious disrepair, and the cost to complete the project appears to be a moving target,” added Rizek. On two separate occasions, March 26 and April 2, Fred Elliott said under oath that it would take $8 to $9 million to complete the project.

    At that time Fred Elliott said the project was “60 percent complete.”

    However, in early May, the Elliotts filed a preliminary business plan in the U.S. Court case that stated it would take $12.9 million more to complete Juan Dolio and that much of the property needed to be reconfigured. The business plan was premised on the Elliotts being able to sell an average of 10 units at the Sun Village Juan Dolio each month. The Elliotts admitted that they had not advised investors of those additional expenses.

    For his part, Fred Elliott admitted under oath on May 8, 2009, that no units had been sold at Juan Dolio in the past two years and no funds were coming in. Derek Elliott similarly testified under oath on May 7, 2009, that not a single unit had been sold by the new sales agent, ReMax, who took over sales for the Juan Dolio in November 2008. “To now claim to the media that the project is now ‘as much as 75 percent complete’ simply isn’t true,” said Rizek.

    Meanwhile, a Dominican Republic judge on May 5 ordered the Elliotts not to transfer, dissipate or otherwise encumber assets up to $34 million in value. Noting in her ruling that the Elliotts have not honored their financial obligations to hundreds of buyers and investors in their DR resort properties, Judge German said, “The Elliott defendants have principally dedicated themselves to diverting investor monies. As a result, the plaintiffs have been defrauded.”

    The Elliotts have been named in a series of lawsuits filed by U.S. and international law firms, including Medina & Rizek Abogados and Diaz Reus & Targ, LLP. The plaintiffs’ suits seek to preserve as many Elliott-related assets as possible, including personal property, bank accounts, and real estate(source DominicanToday)

    To read more about the Derek Elliott case and the USD 170 Million FREEZE order go to www.dominicanwatchdog.org
    Posted by Editor
    Last edited by angryintx; 01-28-2013 at 10:27 AM.

  14. 01-28-2013, 10:59 AM


  15. #14
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    Re: Sun Village/Maxim bungalows Ponzi

    NO UPDATES TO THIS DOCKET


    E-Filing U.S. District Court
    California Northern District (San Francisco)
    CRIMINAL DOCKET FOR CASE #: 3:12-cr-00678-MMC All Defendants



    Case title: USA v. Catledge et al

    Date Filed: 09/18/2012

    Date Filed #Docket Text
    09/18/20121 INDICTMENT as to James B. Catledge (1) count(s) 1, 2-4, Derek F.C. Elliott (2) count(s) 1, 2-4. (mjj2S, COURT STAFF) (Filed on 9/18/2012) (Entered: 09/19/2012)
    09/18/2012 CASE DESIGNATED for Electronic Filing. (mjj2S, COURT STAFF) (Filed on 9/18/2012) (Entered: 09/19/2012)
    10/05/20122 Sealed Document as to James B. Catledge (mjj2S, COURT STAFF) (Filed on 10/5/2012) (Entered: 10/05/2012)
    10/05/20123 ORDER Setting Conditions of Release as to James B. Catledge (1) $50,000 unsecured. Signed by Judge Magistrate Judge Joseph C. Spero on 10/5/2012. (mjj2S, COURT STAFF) (Filed on 10/5/2012) (Entered: 10/05/2012)
    10/05/201212 AMENDED Minute Entry for proceedings held before Magistrate Judge Joseph C. Spero: Arraignment as to James B. Catledge (1) Count 1,2-4 held on 10/5/2012, Initial Appearance as to James B. Catledge held on 10/5/2012; Plea entered by James B. Catledge Not Guilty on counts 1, 2-4. Status Conference set for 10/31/2012 02:15 PM in Courtroom 7, 19th Floor, San Francisco before Hon. Maxine M. Chesney. (Recording #FTR: 9:57-10:05.) (mjj2S, COURT STAFF) (Filed on 10/5/2012) (Entered: 10/22/2012)
    10/17/20124 MOTION for Leave to Appear in Pro Hac Vice Attorney: David Z. Chesnoff. ( Filing fee $ 305, receipt number 258B1LC0.) Filing fee previously paid on 10/17/2012 by James B. Catledge as to James B. Catledge, Derek F.C. Elliott. (Chesnoff, David) (Filed on 10/17/2012) (Entered: 10/17/2012)
    10/17/20125 MOTION for Leave to Appear in Pro Hac Vice Attorney: Saraliene S. Durrett. ( Filing fee $ 305, receipt number 0971-7206264.) by James B. Catledge as to James B. Catledge, Derek F.C. Elliott. (Chesnoff, David) (Filed on 10/17/2012) (Entered: 10/17/2012)
    10/17/20126 STIPULATION and [PROPOSED] Order Excluding Time by USA as to James B. Catledge (Schmidt, Jonathan) (Filed on 10/17/2012) (Entered: 10/17/2012)
    10/18/20127 NOTICE OF ATTORNEY APPEARANCE: Richard Allan Schonfeld appearing for James B. Catledge, Derek F.C. Elliott (Schonfeld, Richard) (Filed on 10/18/2012) (Entered: 10/18/2012)
    10/18/20128 STIPULATION To Continue October 31, 2012 Hearing by James B. Catledge as to James B. Catledge, Derek F.C. Elliott (Schonfeld, Richard) (Filed on 10/18/2012) (Entered: 10/18/2012)
    10/19/20129 STIPULATION AND ORDER EXCLUDING TIME as to James B. Catledge. Signed by Judge Magistrate Judge Bernard Zimmerman on 10/19/12. (klhS, COURT STAFF) (Filed on 10/19/2012) (Entered: 10/19/2012)
    10/19/201210 MOTION Emergency Travel Unopposed by James B. Catledge as to James B. Catledge, Derek F.C. Elliott. (Chesnoff, David) (Filed on 10/19/2012) (Entered: 10/19/2012)
    10/19/201211 ORDER granting 10 Motion for Emergency Leave to Travel as to James B. Catledge (1). Signed by Judge Magistrate Judge Bernard Zimmerman on 10/19/2012. (klh, COURT STAFF) (Entered: 10/19/2012)
    10/23/201213 ORDER GRANTING DAVID Z. CHESNOFF'S APPLICATION FOR ADMISSION OF ATTORNEY PRO HAC VICE. Signed by Judge Maxine M. Chesney on October 23, 2012. (mmclc1, COURT STAFF) (Entered: 10/23/2012)
    10/23/201214 ORDER GRANTING SARALIENE S. DURRETT'S APPLICATION FOR ADMISSION OF ATTORNEY PRO HAC VICE. Signed by Judge Maxine M. Chesney on October 23, 2012. (mmclc1, COURT STAFF) (Entered: 10/23/2012)
    10/23/201215 ORDER. The stipulation between the government and defendant James Catledge to continue the status conference from Octcober 31, 2012 to November 7, 2012 is approved. Signed by Judge Maxine M. Chesney on October 23, 2012. (mmclc1, COURT STAFF) (Filed on 10/23/2012) (Entered: 10/23/2012)
    10/23/2012 Set/Reset Hearing Status Conference set for 11/7/2012 02:15 PM in Courtroom 7, 19th Floor, San Francisco before Hon. Maxine M. Chesney. (mjj2S, COURT STAFF) (Filed on 10/23/2012) (Entered: 10/24/2012)
    10/24/201216 Summons Returned Executed on 9/27/12. as to James B. Catledge (lskS, COURT STAFF) (Filed on 10/24/2012) (Entered: 10/24/2012)
    10/26/201217 Letter from Tracy Lucero, Deputy Clerk in response to emails sent as to James B. Catledge. (tlS, COURT STAFF) (Filed on 10/26/2012) (Entered: 10/26/2012)
    11/07/201218 Letter from Tracy Lucero, Deputy Clerk to Leslie and Vernon Ferguson in response to email as to James B. Catledge, Derek F.C. Elliott (tlS, COURT STAFF) (Filed on 11/7/2012) Modified on 11/7/2012 (tlS, COURT STAFF). (Entered: 11/07/2012)
    11/07/201219 Letter from Tracy Lucero, Deputy Clerk to Jerry and Jill Harris in response to email as to James B. Catledge, Derek F.C. Elliott (tlS, COURT STAFF) (Filed on 11/7/2012) (Entered: 11/07/2012)
    11/07/201220 Minute Entry for proceedings held before Judge Hon. Maxine M. Chesney:Initial Status Conference as to James B. Catledge held on 11/7/2012 Further Status Conference set for 1/30/2013 02:15 PM in Courtroom 7, 19th Floor, San Francisco before Hon. Maxine M. Chesney. (Court Reporter Connie Kuhl.) (tlS, COURT STAFF) (Filed on 11/7/2012) (Entered: 11/08/2012)
    01/10/201321 STIPULATION To Continue January 30, 2013 and Proposed Order by James B. Catledge (Schonfeld, Richard) (Filed on 1/10/2013) (Entered: 01/10/2013)
    01/11/201322 MOTION for ARREST Warrant AND [PROPOSED] ORDER by USA as to James B. Catledge, Derek F.C. Elliott. (Schmidt, Jonathan) (Filed on 1/11/2013) (Entered: 01/11/2013)
    01/11/201323 ORDER. It is hereby ordered that a no bail arrest warrant shall immediately issue for the arrest of the defendant Derek F.C. Elliott. Signed by Judge Maxine M. Chesney on January 11, 2013. (mmclc1, COURT STAFF) (Entered: 01/11/2013)
    01/14/201324 ORDER. The hearing currently set for January 30, 2013 at 2:15 p.m. is vacated and reset to the 13th day of March 2013 at 2:15 p.m. Signed by Judge Maxine M. Chesney on January 14, 2013. (mmclc1, COURT STAFF) (Filed on 1/14/2013) (Entered: 01/14/2013)
    01/14/2013 Set/Reset Hearing re 24 Order Further Status Conference re-set to 3/13/2013 02:15 PM in Courtroom 7, 19th Floor, San Francisco before Hon. Maxine M. Chesney. (tlS, COURT STAFF) (Filed on 1/14/2013) (Entered: 01/14/2013)
    01/15/201325 Letter from Tracy Lucero, Deputy Clerk in response to email sent by Phyllis M. Rispoli dated 1/10/2013 as to James B. Catledge, Derek F.C. Elliott (tlS, COURT STAFF) (Filed on 1/15/2013) (Entered: 01/15/2013)

  16. #15
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    Mar 2009
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    Re: Sun Village/Maxim bungalows Ponzi

    Just PONDER this...

    If these Impact Agents made these commissions,

    WHAT DID JAMES CATLEDGE MAKE?

    What did the Impact Agents, ALL OF THEM, make in 2008 and 2009?

    Where do you think YOUR MONEY WENT?
    Last edited by angryintx; 01-28-2013 at 12:27 PM.

  17. #16
    Join Date
    Mar 2009
    Posts
    1,514

    Re: Sun Village/Maxim bungalows Ponzi

    http://www.badidea.co.uk/2008/11/fel...hospital-pass/

    WHO WILL HAVE THE LAST LAUGH?


    He said it himself.

    I hope he is right.
    See below highlighted in blue





    Felix Dennis Cackles, Having Sold Private Equity Goons Quadrangle a US $250 Million Hospital Pass





    The Bearded Dwarf rides again. The Wall Street Journal has reported that Alpha Media, the publisher of Maxim and music magazine Blender, is currently “in restructuring talks that are expected to turn over the company to creditors.”
    Publishing mogul Felix Dennis is presumably laughing long and hard in the direction of the bronze statue of Charles Darwin sitting in the ‘garden of heroes’ at his Warwickshire mansion; he sold Alpha Media to Wall Street bigshot Steve Rattner’s Quadrangle private equity firm in 2007 for approx. US $240 (of which US $90 million was equity, the rest debt). In the intervening period, Alpha Media’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation – a measure of a company’s operating cashflow) has fallen from approx. US $28 million to US $8 million, and the WSJ claims Alpha Media has been forced to violate debt agreements with its creditors. Not good.
    Dennis was wistful when discussing the Alpha Media sale with the Guardian back in October; “If I’ve created Maxim, and sold Maxim, and I’m 100 million quid richer, it’s over, it’s finished. There is no over or finished for a person who writes a novel, or poetry. No poetry that I’m aware of, however bad or glorious, has ever left somebody a worse person than they were before they read it. Whereas monstrous amounts of wealth lead only in one direction. They can only lead to the degradation, to whatever degree, of the person involved. No one is a better person for having a large sum of money at their disposal. No one!”
    Still, the knowledge that he’s dodged a bullet and considerably enriched himself in the process will probably cheer him up a little!
    Last edited by angryintx; 01-29-2013 at 11:10 AM.

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