Money, no dynamite

VMI

Valmont Industries 604

 

Airframe:8,579 TTAF
4,710 Landings
Airframe on Smart Parts

 

 

Baked Goods and Charity-WINNER!

Answering your question...

Anonymous said...

Hey Wilbur,

I am curious to know what this is about. Do you speculate that $100m is hidden? Mitch Stein is claiming indigence; I don't believe him. Do you suspect that he is lying?

Have a good one.

 

IN MY OPINION:

Mitch was Puppet Master of NCFE

 

Mitch Stein was never known for his honesty.

 

Mitch Stein filed bankruptcy.

 

Most of the money they took from NCFE went into Tracey Controlled Entities.

(ARC Finance, Tajstein Trust, ETC...)

 

She is now filing for bankruptcy.

 

This $100,000,000 and a few more are probably in a Cook Islands Trust.

 

Unlike other NCFE companies, Med Diversified is a publicly traded entity, responsible not only to its patients but also to a loyal group of shareholders who are being needlessly harmed by this action. On behalf of Med Diversified's patients, creditors, shareholders and employees, the Company's board of directors is demanding answers to the following questions:

1. To the trustees of NPF XII and NPF VI, Bank One and J.P.

Morgan Chase, how could you not know the misuse of funds was

occurring? Did you fulfill your duties as trustees and ensure

routine audits were performed? If not, why? To the independent

directors of NPF XII and VI, how did you not know of this

behavior? To the head of the Audit Committee, how were you not

aware of these activities? To Deloitte & Touche, how could you

sign off on last year's NCFE audit? To the chief financial

officer and chief compliance officer of NCFE, how could you

not know the alleged misuse of funds was occurring? How can

NPF XII and NPF VI be able to fund without collateral since it

is unable to do so according to the indentures?

2. How can the over-funding - without supporting collateral - be

anything but unsecured debt? If NCFE and its principals own 30

percent of Med Diversified, isn't this unsecured debt truly

equity?

3. Over the last three weeks, why did NPF XII and NPF VI confirm

both in writing and orally that the Company would be funded -

causing the Company to distribute payroll and vendor payments

- then, without any communication, not fund? How can J.P.

Morgan Chase, Bank One, NPF XII and NPF VI stop funding

without giving adequate warning? How can NPF VI make payments

to a major investor and stop funding for all its clients?

4. How can the State of Ohio and the Franklin County Common Pleas

Court place a Temporary Restraining Order on receivables under

a Sales and Sub-Servicing Agreement when federal law does not

permit the assignment of Medicare and Medicaid receivables to

a third party?

5. Why haven't the independent directors and investors of NPF XII

and NPF VI, as well as J.P. Morgan Chase and Bank One and

their advisors, released the Company's unpurchased, current

and future accounts receivable so the Company can get new

financing to take care of its patients? Also, by their

inaction, how can the independent directors and investors of

NPF XII and NPF VI, as well as J.P. Morgan Chase and Bank One

and their advisors, force patient abandonment to occur and

force the filing of Chapter 11 by the Company's subsidiary,

Tender Loving Care, the second largest nursing company in the

nation?

6. Why has the only communication come from the long retired

board members of NCFE and not from the independent directors

of NPF XII and NPF VI, J.P. Morgan Chase, Bank One and NCFE?

7. Why have J.P. Morgan Chase, Bank One and the independent

directors and investors of NPF XII, NPF VI and NCFE and its

affiliates acted solely in their own financial interests

without regard for patient care?

8. How can NCFE walk away from a 21-year preferred provider

agreement after telling investors it was a billion-dollar

opportunity [as referenced in the Company's press releases and

analyst conference calls from 2000] without a financial

settlement ?

9. How can NCFE not adhere to its contractual obligation relating

to the restructuring of debentures from Private Investment

Bank Limited ("PIBL") one of the Company's major secured

creditors, and American Reimbursement, LLC that requires NCFE

to release funds to PIBL?

10. Why haven't J.P. Morgan Chase, Bank One, the independent

directors and auditors of NPF XII and NPF VI, and NCFE's

auditor, Deloitte and Touche, addressed Med Diversified or

PIBL concerning the breach of certain contractual

relationships committed to by NCFE in support of the Company's

commitment to pay PIBL caused by the non-funding and lack of

response?

As detailed below, the Company fraudulently obtained $70 million in financing fro m

Private Investment Banking Group ("PIBL") to help pay for these planned acquisitions, a schem e

 

which ultimately caused the Company's auditor to resign . The Company agreed in writing to pledge

its medical accounts receivable as collateral to repay the principal and interest on convertibl e

debentures the Company issued in exchange for the cash financing PIBL provided . (The Company

issued the debentures to Societe Financiere du Seujet , Ltd. ("SFSL"), a Swiss company that acte d

as a broker in finding a source of financing -- PIBL -- for the Company.) After PIBL had advanced

$70 million to the Company, PIBL received a copy of financing documents that the Compan y

inadvertently or mistakenly faxed to PIBL, showing that the Company had deleted the key

paragraphs of the debentures setting forth the Company's obligation to collateralize the debentures

 

with its medical accounts receivable . PIBL also noticed that PIBL directors' names had been forged .

The forged documents had apparently been used to deceive the Company's auditor, KPMG LLP

("KPMG") about the medical accounts receivable , which had already been pledged to NCFE, not

to PIBL, as agreed.


Thank you Desert Mountain/Scwabb

A real toy

 $8,375,000

 The most magnificent home and homesite in all of Arizona situated on top of a 1 acre hillside lot located just south the Chiricahua Clubhouse over looking the 18th hole. Built by Platinum Homes and designed by architect Bing Hu this impressive estate offers unmatched panoramic views, exquisite architecture, contemporary elegance & ultimate entertaining. This under roof 10,038 sq ft home features 4 en suite bedrooms, a 1 bedroom guest house, magnificent upstairs office, private library and state of the art theater room. Uniquely contemporary themed with stacked stone, imported limestone flooring, circular movement and glass accordion floor to ceiling doors showcasing breathtaking views. The expansive outdoor living spaces features total privacy and a custom shaped negative edge pool.

One nice toy

WHERE IS THE $100,000,000 NOW?????

Kairis represented NCFE and its principals in the “whistleblower” action, drafted the [Settlement Agreement], and interacted with [Hampton-Stein] and her lawyers in completing the [Settlement Agreement]. In the [Settlement Agreement], NCFE made numerous contractual commitments to [Hampton-Stein] and others to induce [her] to provide ongoing consideration to NCFE for NCFE to perfect its interest in a $100,000,000.00 (one hundred million dollar) asset previously purchased from [Hampton-Stein] by NCFE. Had [Hampton-Stein] known NCFE did not intend to honor the [Settlement Agreement], [Hampton-Stein] would have never entered into the agreement. [Hampton-Stein’s] sole purpose in entering into the [Settlement Agreement] was to be done with Defendants NCFE and Kairis, whom [Hampton-Stein] did not wish to be involved in any further.

House House Sells

$4,000,000