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So Clem is going to sell his house and live where and with whom...Maybe the guys at the garbage company have a home for him to rent...
What about all those payouts to his family and friends prior to filing Chapter 11. That's the next shoe to drop. Carinalli isn't stupid...he knew this was coming and those transfers have to be on the radar screen for Provencher and the rest of the lawyers.
On a side note, I was talking to an 84 year old woman who invested all of her life savings with Carinalli recently. Say what you will about her responsibility, the audacity of a man to put ALL of a persons assets in his risky shell game (really isn't that what this is)is tantamount to breach of fiduciary duty violating the tennants of diversification. She almost was in tears when I reached out to her to comfort her, she is now living on Social Security solely and wondering how she is going to care for her ailing husband.
So Dr. Bob Oliver, retired dentist, you must have been staying at a Marriott to make you an expert about fraud. He appears to have deceived many including you...While I feel for people that got swindled, it's the seniors who are the real victims. And when the dust settles he may be moving to a federal institution for a while. Maybe you could see if he has visiting priveliges.
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Here is the worst of the worst on HIGH CRIME. politico LinkWIRE |
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quote: Originally posted by dg0515:
If there were no clem's in this world, all of us would be broke and worthless as some of us are now, Sitting here talking smack about someone who has done well, and fell upon hard times is stupid...Sure the guy's delt with some crooks, so have most of us... Live like the rest of us ? Working 7-7 and not making ends meet, using next weeks check to pay last months bills...I have seen how most of "us" live...This guy was doing what he did, there are worse than him, and many more exactly like him out there in this world...Look at the government, and many other examples of it....If you want to cry about something,you should write your congressmen...They'll pay attention to you...
People judge too much and assume alot...If only you saw how many people this "crook" employed , directly and in-directly would you then understand how the world turns.Because it is people like this that employ most all of us,, some win and some loose...And never are they all honest and caring, they are out to make money, just like the rest of us...Granted some are more devious than others, but how many rich people have you meet that actually cared about you trying to make a living ? They dont, just like most of dont give a crap about the next guy on the bus, Or driving on the freeway.
Clean the trash outta your yard before you judge the pile of s@*! in your neighbors....
you need to understand how this world turns. Fact: money magnifies mistakes. When the economy tanked, it wasn't Clem who came out and said it, it was a proletariat in his fiefdom, with the courage to lead a revolt against their king. Yeah for awhile sure a king shows you a little bit of the good life, he needs to build a loyal group of followers, but at some point nature teeters things in the opposite direction and the king changes the rules to salvage his own power. |
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quote: Originally posted by dg0515:
If there were no clem's in this world, all of us would be broke and worthless as some of us are now, Sitting here talking smack about someone who has done well, and fell upon hard times is stupid...Sure the guy's delt with some crooks, so have most of us... Live like the rest of us ? Working 7-7 and not making ends meet, using next weeks check to pay last months bills...I have seen how most of "us" live...This guy was doing what he did, there are worse than him, and many more exactly like him out there in this world...Look at the government, and many other examples of it....If you want to cry about something,you should write your congressmen...They'll pay attention to you...
People judge too much and assume alot...If only you saw how many people this "crook" employed , directly and in-directly would you then understand how the world turns.Because it is people like this that employ most all of us,, some win and some loose...And never are they all honest and caring, they are out to make money, just like the rest of us...Granted some are more devious than others, but how many rich people have you meet that actually cared about you trying to make a living ? They dont, just like most of dont give a crap about the next guy on the bus, Or driving on the freeway.
Clean the trash outta your yard before you judge the pile of s@*! in your neighbors....
Very well stated. Some people just love to bash the rich, not realizing they are the ones that often times create jobs and wealth, in taking risks others would not be able or willing to take. I still say Clem is a good guy and did not have evil intentions. He is the victim of a serious downturn in the economy and IMO that is due to the liberals that seem to think it is only the govt. that creates wealth. |
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As he is a former CPA, I am amazed at how the numbers keep swinging...by millions. Haven't heard North Bay come up and he is/was a part owner. Some of the investments/loans do appear to breach fiduciary responsibility. How can the SSU Foundation not know if the loan is secured or unsecured? How "complicated" can that be? Did not care for some of the flippant remarks reportedly made by the Carinallis!
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Goodguy: You one of the world's greatest kiss asses. I know two people who used to work at Memorial Hospital who believe that Carinalli used his position on the board of directors to get them fired. Neither of these people has met the other. They both had personal (not political or business) associations with people opposed to Carinalli's agenda. We know that Carinalli gave his investor's money to a well known financial felon and racketeer. We know that Carinalli "borrowed" money from Sonoma State students immediately after resigning from the board of the foundation. We know that Carinalli misled lenders about whether their loans were secured. (The SSU Foundation somehow didn't know this loan was unsecured, but have no plans to go after him for fraud. Student loan borrowers should get such treatment.) All this adds up to a greedy, ruthless man, not someone who is the victim of a bad economy.
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Who are the director's of the SSU Foundation
and could they be connected with Mr.Carinalli? It seems very odd that they made a loan that they THOUGHT was secured. Then when it came up it was NOT secured, they
get Mr. Carinalli to pay it off ahead of other
creditor's. The reason for this is too complicated to be explained and SSU has no
plans to go after Mr. Carinalli for fraud.
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I love the comment about how there were a lot fans of his at the meeting. They are all in
D E N I A L !!!!!!!! This guy is a crook in sheeps clothing. The best predictor of future performance is past performance!!! He will appear contrite but behind closed doors, I can guarantee you, he is as contemptuous as Sadam Husein!!!
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quote: Originally posted by hudsonjohnf:
Goodguy: You one of the world's greatest kiss asses. I know two people who used to work at Memorial Hospital who believe that Carinalli used his position on the board of directors to get them fired. Neither of these people has met the other. They both had personal (not political or business) associations with people opposed to Carinalli's agenda. We know that Carinalli gave his investor's money to a well known financial felon and racketeer. We know that Carinalli "borrowed" money from Sonoma State students immediately after resigning from the board of the foundation. We know that Carinalli misled lenders about whether their loans were secured. (The SSU Foundation somehow didn't know this loan was unsecured, but have no plans to go after him for fraud. Student loan borrowers should get such treatment.) All this adds up to a greedy, ruthless man, not someone who is the victim of a bad economy.
No this is a crime. |
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Lord-EEEE. The SSU folks don't know how the lien against Carinelli's property was removed!!! Talk about malfeasance. And funny enough, they don't plan to research what happened!?? What.!!!??? Why any company would loan money to someone for the purposes of loaning it to someone else is unusual in my experience. Maybe I'm naive, but back in the day, this kind of loan would never have been made by any legitimate institution. Maybe this harks back to the Reagan era when all the deregulation took place. This is what happens when no one is taking care and following commonsense rules of behavior. If Carinelli has not perpetrated a fraud by lying about his intentions for their investments, then the people who loaned him money took a chance as with any other investment and ought to and will take a hit on this. So long as Carinelli was upfront with his lenders, they have nothing to cry about. I'm still reeling about the $5 million loaned by banks UNSECURED!!! This is looking more and more like a bunch of back room deals of the Good Old Boys. Meeting in the Oddfellows Hall (Friendship, Love and Truth) was the most ironic thing in this story. It is riveting. Keep it up PD...
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quote: Originally posted by hudsonjohnf:
Goodguy: You one of the world's greatest kiss asses. I know two people who used to work at Memorial Hospital who believe that Carinalli used his position on the board of directors to get them fired. Neither of these people has met the other. They both had personal (not political or business) associations with people opposed to Carinalli's agenda. We know that Carinalli gave his investor's money to a well known financial felon and racketeer. We know that Carinalli "borrowed" money from Sonoma State students immediately after resigning from the board of the foundation. We know that Carinalli misled lenders about whether their loans were secured. (The SSU Foundation somehow didn't know this loan was unsecured, but have no plans to go after him for fraud. Student loan borrowers should get such treatment.) All this adds up to a greedy, ruthless man, not someone who is the victim of a bad economy.
Not kissing anyone's ass. I just see the big picture here. The creditors, whether senior citizens or not, did not have their arms twisted to invest with Caranalli. They were the kind of people that wanted a big return on their money and were willing to gamble with fate. They were not defrauded. And in case you haven't noticed, they were all people of means (rich by most standards)in their own right. |
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Yep, just invest wisely and don't get greedy! Fools deserve to be burned by their greed! The greed applies to both Carinalli and the fool-hardy investors expecting to make top dollar! Sorry, but that's the truth!
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quote: Originally posted by scottofg:
So Clem is going to sell his house and live where and with whom...Maybe the guys at the garbage company have a home for him to rent...
What about all those payouts to his family and friends prior to filing Chapter 11. That's the next shoe to drop. Carinalli isn't stupid...he knew this was coming and those transfers have to be on the radar screen for Provencher and the rest of the lawyers.
To the PD, do a damn ZABSEARCH on Clement Carinalli - my goodness, the guy owns Mendo Ave, Santa Rosa Ave, Coffey, etc. And LITERALLY tons of places are in his wife's and children's & other relatives names!!! This is EXACTLY what Madoff did. Madoff put everything into his family's names and HID MONEY. Check Caribbean banks, transfers, etc. FOLLOW THE MONEY PD!!! KEEP DIGGING PD. The guy is HIDING money. He is worth MUCH MORE than what he is saying....MUCH MORE. |
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According to the AMENDED Statement of Financial Affairs there was 11 MILLION transferred to family and associates, just in the last year.
So Clem is supposed to be so saavy and a brilliant businessman...according to the same report he LOST 4.3M in 2007 and 10.3M in 2008. Folks this is looking more like the classic house of cards crumbling over the last few years.No wonder he couldn't pay his debts any longer.
He was using other peoples money to pay his installments. It's starting to look like a criminal action is very possible.
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Also look at the amended statement for transfers...
Dennis Hunter
Jim Ratto
North Bay
Millions went out to these guys or their biz. If Clem was losing money from his operations as is stated, then where did he get the dough to make these transfers?
Maybe some of those folks expecting 9-12% interest... If it smells like a rat, looks like a rat, it probably is.
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