You May Have Missed
SparkPeople--Live Healthier and Longer
California Nuts Briefs---
"Gimme that Wine"
This Day in American History
Weather, USA or specific area
######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.
Leasing Schemes Court Cases Monthly Up-Date
Equipment Acquisition Resources
Although both Charles K. Schwartz, lessee, and vendor Bruce Donner have been sentenced (from a sweet plea deal from the FBI that they said they said was the key to their being able to prosecute Schwartz), the bankruptcy trustee has a case to return the commission on equipment not delivery against Donner, as well as the IRS may also be interested in the matter. It's not over yet!
May 9th is day to seek judgment for $163,720,000 against the officers of HL Leasing, Inc., Manufacturers Acceptance Corporation dba Heritage Pacific Leasing, Air Fred, along with officers Andy Fernandez, Dan Ramírez and Kathleen Otto.
IFC Credit--Rudy Trebels
There are six court cases open regarding Rudy Trebels and IFC Credit Corporation. Readers tell me he is still playing golf in Florida, as well as vendors and lessees email Leasing News asking about doing business with him, finding stories written about him in the internet.
In the only civil case, brought by Coactiv Capital Partners on September 30, 2009, suit is for over $2 million against IFC Credit Corporation, Morton Grove, Illinois, one of their funding groups, and the two main principals, claiming the officers committed fraud as individuals, specifically not paying off leases when the lessee terminated early, and knowing that the company was "essential insolvent" for almost a year.
A status hearing is set for April 25, 2012 before the Honorable Elaine E. Bucklo.
There is the case of Greenwich Insurance and IFC Credit with Trebels named as a defendant and Leibowitz and Trebels, both in bankruptcy cases, as well as Leibowitz and First Chicago Bank.
The main bankruptcy case had a trial date set for 3/28/2013, but it was continued until 4/20/2013 with discovery cutoff September 1, 2012. Dates for other actions prior to the trial were sent by Judge Jacqueline P. Cox (7)
No change since filing of bankruptcy and no information on case in Lake Charles, Louisiana regarding Thomas N. Salzano, the mastermind behind the 10,629 leases with over 50 bank and leasing companies.
Operation Lease Fleece
The Vartanian attorneys have been able to postpone this trial for quite some time, many different dates for different reasons. They may have reached the end with Judge Cormac J. Carney.
Allegedly this may be the last to be indicted, although both the US Attorney’s office and FBI state “Operation Lease Fleece” is an “open investigation.” It has been going on for four years, and the longer it goes on, it also appears the longer sentences are being handed out.
Chant Vartanian, president of ISystems Technology and Solutions, currently operating under several business names, trial date is continued to April 24, 2012 at 9:00 a.m. IT IS FURTHER ORDERED that the status conference is continued to April 16, 2012 at 9:30 a.m.
Sarkus Vartanian, vice-president of ISystems Technology and Solutions, currently operating under several business names, "trial date is continued to April 24, 2012 at 9:00 a.m. IT IS FURTHER ORDERED that the status conference is continued to April 16, 2012 at 9:30 a.m
This month: Ziya, Arik, 38, CapitalWerks, continuing Sentencing hearing to 4/30/2012 11:00 AM before Judge Cormac J. Carney
Perhaps this month will do a round-up on all those convicted and the sentences received to date.
Sheldon Player—Equipment Acquisition Resources
Yes, Sheldon Player is still free pending events with Equipment Acquisition Resources and their dispute with the IRS of his gambling winnings and deductions. The status hearing originally set for March 28, 2012 was reset to May 1, 2012. (1) The bankruptcy can't proceed without this section being complete; however, in the meantime all assets and liabilities are being finalized.
In a separate case, the trustee (William A. Brandt, Jr.) as Plan Administrator for Equipment Resources, Inc. was granted his "Motion and an order of default judgment in the amount of $18,323,404 plus costs of $275.00 against Defendant, Sheldon Player, for his failure to appear and to file responsive pleading to Plaintiff's Complaint, and for any additional relief this Court deems necessary. (6)
(1) EAR Status Appeal
(2) Motion Main Document
(3) Exhibit A--proof of not being able to service Player
(4) Exhibit B---Money Paid Player by EAR totaling $18,323,404
(5) Exhibit C--Action by Mr. Brandt
(6) Plaintiff is granted default judgment
(7) IFC Trial Pre-Trial Dates
Classified Ads---Asset Management
Free Posting for those seeking employment in Leasing:
All “free” categories “job wanted” ads:http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm
Leasing Industry Help Wanted
For information on placing a help wanted ad, please click here:
Please see our Job Wanted section for possible new employees.
Number of Problem Banks Remains Elevated
"Although the number of banks on the Problem Bank List has declined for three quarters in a row, the number of problem banks remains high, " reports www.problembanklist.com. " At March 31, 2011, the FDIC classified 888 banks as “problem banks.” As of the latest reported numbers for December 31, 2011, the number of problem banks had declined by only 75 banks to a total of 813.
"Although regulators tell us the financial crisis has been contained, there are still a discomforting number of troubled banks,” www.problembanklist.com concludes. " A total of 11% of all FDIC insured institutions are currently classified as problem banks. Another troubling aspect for depositors is the fact that the FDIC Deposit Insurance Fund (DIF) at December 31, 2011 had a balance of only $9.2 billion which “protects” a massive $6.98 trillion of customer deposits. Although the FDIC has taken measures to bolster the DIF fund, the reserve ratio remains at a historically low level of only 0.13%. The FDIC currently has only around $1,318 to protect every $1 million dollars in deposits."
Independent, unbiased and fair news about the Leasing Industry.