Letters---We get eMails!!!
FTC NorVergence Officer Settlement “Thanks for the update! “What a relief to hear that "all" the Salzano's have do is give back whatever money the government can find and promise never to do it again! I was very nervous for a while there, that these low-lifes were actually going to forced to do some <cringe> jail time! “Clearly this judge was mentored by the O.J. jury.”
(The FTC can't send people to jail. Only the US Attorney or State Attorney General can do this. (Also please see clarification at the beginning of this edition regarding FTC Senior Attorney Randy Brook. To this editor, the action does send a message that others involved in NorVergence Leasing fraud will be taken to task for their involvement, which may indeed apply to individuals of various leasing companies who do have assets. (It also should be noted Pennsylvania Attorney General Gerald J. Pappert does have a case against the Salzano's and he prosecute them where the judge will impose jail time if they are found guilty. http://www.leasingnews.org/Conscious-Top%20Stories/Novergence_63.htm editor.) --- NorVergence Lessee: “Well, this is certainly a true travesty of justice. A slap on the wrist, wouldn't you say? I didn't know that in this great country, all you have to say is “I don't have the money,” and the court just says ok, no problem, we'll just forget about it, but first we have to put it in legal terms! “I'm appalled at this hoax on the American small businesses, leasing companies, and whoever else was hurt by their scam. After all the damage they did just to get rich???? I have my own hopes for the Salzano brothers' future, which I'm sure, is shared by thousands of other small business owners across the country. “Thanks Kit, for doing such a great job in following this story!” Jody Nichilo (The leasing industry in the last few years has certainly been hit by many frauds; although historically the industry has seen some $200 and $300 million such hits in the last twenty years. It is not an easy business. When the sales department starts telling the credit department what to do, this is typical of what happens. In the old CIT days, any new salesman first started off in the collection department. (As a side note, none of the recent scandals from CyberNet, NorVergence, Allserve, the Days, involved leasing brokers. It seems the leasing brokers deals are scrutinized so much, or perhaps the brokers also scrutinize them, the break in the firewall comes from vendors and the individual lessees---not the brokers. Think about it. editor) ---- |
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