Advanced Commissions Gone Wild - Chargebacks!!!

[SportsNut]

Tell that to Bernie Madoff!

You know I would... except the security at his multi-bazillion dollar penthouse is likely better than where the pilot is now incarcerated. Amazing that they haven't jailed this fellow. The only thing that I think is, that while he is O/R, he must be making calls, using computers, and sending mail... all of which is making a footprint... and more evidence in which to hang him with. Plus they must be in hopes that he will lead the to the $$$$$$$$$$$ times a bazillion. It is hidden somewhere.

 

[motoxxx]

This guy looks like he is pretty high maintenance and so is his pretty little wife. I like nice things too but man, how can some people sleep at night when they do this kind of thing to people that trust them?

This guy has a HUUUUGE pair on him but he is giving a black eye of sorts to insurance agents every where. Many people already have a really negative image of our industry. This moron certainly didn't help any of us with improving on it did he?

 

[Russ]

This guy looks like he is pretty high maintenance and so is his pretty little wife. I like nice things too but man, how can some people sleep at night when they do this kind of thing to people that trust them?

This guy has a HUUUUGE pair on him but he is giving a black eye of sorts to insurance agents every where. Many people already have a really negative image of our industry. This moron certainly didn't help any of us with improving on it did he?

No he didn't. He or his plane, has been all over the Florida panhandle and he may have passed through the town I live in, on his way to Quincy,FL. Mystery pilot, financial manager known as smooth operator - CNN.com

 

[theinuranceguy]

I didn't know you were looking for a future Ex-wife...........LOL

Lol, you know it... Im a tiger, always on the prowl.

 

[Crabcake Johnny]

Authorities: Pilot accused of faking death found in Florida - CNN.com

They found him. He'll lawyer up and do maybe 2 years in some fed country club jail.

 

[SportsNut]

Authorities: Pilot accused of faking death found in Florida - CNN.com

They found him. He'll lawyer up and do maybe 2 years in some fed country club jail.

NO WAY... he will do more than 2 yrs...

He currently has two Class C Felony's filed in Indiana... If that were the extent of it, which it won't be, that alone carries a MANDATORY 2 yr sentence, up to 8 yr... for EACH violation. Of course they could run concurrently, but not likely now with all this hoopla involved. Indiana is no milk-toast outfit when it comes to dealing with criminals, and I can guarantee you with the high profile of this case, the guy will get 10 yrs out his Indiana problems. People have been scammed, lost money and the Prosecutor will take the ball and run the distance with that...

THEN... we get into the federal charges that this boy will face... abandoning his airplane over AL and allowing it to crash land in FL. WOW, I can't imagine what he will look at there. Serous problems is an extreme understatement.

He will do 10 yrs, maybe more, before this is over... so says the Judge... or SportsNut; (sorry, I got carried away). I might do a little research on some of our other financial criminals here in Ind, and see what kind of sentences they have gotten. We actually have folks doing nearly a yr for public intoxication. If you are going to scam someone and break the law, there are better places to do this than Ind... from the sympathy of the state standpoint.

 

[Crabcake Johnny]

Well, I don't have a lot of rules but one is; I will never do anything where if caught I'd face jail time. I cannot imagine being locked up - cannot imagine the impact it would have on my wife and son. I swear on anything - if I was offered 50 mill to do something illegal I'd pass. It's simply not worth it.

I see this guys story and it's insane - just cannot imagine going from family guy running a company with a plane, lux cars, wife, etc...to a jail cell.

 

[SportsNut]

This guy has a HUUUUGE pair on him but he is giving a black eye of sorts to insurance agents every where. Many people already have a really negative image of our industry. This moron certainly didn't help any of us with improving on it did he?

Exactly right... but here is the thing. He is apparently a SERIAL OFFENDER. In a little research done by the SportsNut, we find that he filed a Ch 7 bankruptcy back in 1993. In this filing he lists as creditors the usual things... 1st and 2nd mtg on his house, albeit 771K and 91K respectively, loans on his Lexus for 55K, ford truck for 29K and a toyota of 23K... of course he got to keep all that becasuse there was no equity in any of the assets. And an Amerus Life IRA of 39K, which is exempt from forfeiture...

BUT, none of that is the point... the point is that he also named seven other creditors, all listed as "Security Transactions" as the type of debt... so these folks had claims against him then for these amounts respectively:

CL 1- 150,000
CL 2- 150,000
CL 3- 300,000
CL 4- 900,000
CL 5- 152,000
CL-6 250,000
CL-7 30,000 (listed as a contract dispute)
___________________
Total: 1,932,000 (One million, nine hundred thirty two thousand dollars)

So he has a HISTORY of this type of activity... Doesn't it make you wonder how he was able to maintain a securities and insurance license with this background...?

They are talking about this story on CNBC at the moment. Amazing, and can you imagine that annuity call that you are making this afternoon, attempting to close the folks that are on the edge...? May not happen if they are listening to the news at all. Wow.

 

[Crabcake Johnny]

Wow...this guy is pathological!

 

[Russ]

Exactly right... but here is the thing. He is apparently a SERIAL OFFENDER. In a little research done by the SportsNut, we find that he filed a Ch 7 bankruptcy back in 1993. In this filing he lists as creditors the usual things... 1st and 2nd mtg on his house, albeit 771K and 91K respectively, loans on his Lexus for 55K, ford truck for 29K and a toyota of 23K... of course he got to keep all that becasuse there was no equity in any of the assets. And an Amerus Life IRA of 39K, which is exempt from forfeiture...

BUT, none of that is the point... the point is that he also named seven other creditors, all listed as "Security Transactions" as the type of debt... so these folks had claims against him then for these amounts respectively:

CL 1- 150,000
CL 2- 150,000
CL 3- 300,000
CL 4- 900,000
CL 5- 152,000
CL-6 250,000
CL-7 30,000 (listed as a contract dispute)
___________________
Total: 1,932,000 (One million, nine hundred thirty two thousand dollars)

So he has a HISTORY of this type of activity... Doesn't it make you wonder how he was able to maintain a securities and insurance license with this background...?

They are talking about this story on CNBC at the moment. Amazing, and can you imagine that annuity call that you are making this afternoon, attempting to close the folks that are on the edge...? May not happen if they are listening to the news at all. Wow.

Thanks for the info and I agree with your comments. Good luck agents, closing those annuity sales.

How is this man not 6 feet under from what he owes folks? If I tried that someone would come after me.