1031 Tax Group files for Chapter 11

[sasha08]

The question is when we will get the money back... and there would be any?
I want my part before the lawyers get paid!!

[1pissed off victim]

THE CLAIM Has been Filed on the Fidelity Bond. This was submitted on July 31st. The document is very extensive and very thorough. I am told its 4inches thick.and hundreds of pages long. The bond company has 120 days to respond to the claim. If I were a betting man, I would say we will all know within 3-4 months whether we will get any money back. The big question is what percentage will we recover.? Peace!

[yo momma]

Haven't heard much about the fate of the ex-crossroads Indy drivers pay. I guess after this long we can just bend over and get it done with...eh?

[ELLIS STEWART SIMRING]

THE ONLY REASON THAT RICHARD SIMRING PLED GUILTY IS BECAUSE THE GOVT THREATENED HIM WITH A 20 YEAR SENTENCE, RICHARD WAS SUFFERING FROM A DIMINISHED CAPACITY RESULTING FROM A FAMILY CRISES AND THE FACT THAT HE WAS REPRESENTED BY INCOMPETENT LAWYERS CREATED THIS NIGHTMARE FOR THIS ULTRA SUCCESSFUL MEMBER OF SOCIETY.
RICHARD SIMRING COMMITTED NO CRIMES, THE GOVT HAS NO CASE AND RICHARD BEING SCARED TO DEATH OF THE POWER AND ABUSE OF PROSECUTORS CRUMBLED.
HIS LAWYERS ARE GUILTY OF MALPRACTICE IN KNOWING ALL OF THE FACTS AND ALLOWING RICHARD TO PLEA TO CRIMES HE DID NOT COMMIT.
ELLIS STEWART SIMRING

[Diminished Capacity]

Dear Ellis,
I to suffered from "diminished capacity', diminished capacity of my paycheck of three weeks (which I have yet to receive) diminished capacity of my benefits, 401k employer contribution, vacation of more than 128 hours, and several reimbursements that were never paid and several more I can't recall at this time. But if he is willing MR. Richard Simring can reimburse me for those items from the $800,000 sign on bonus (ie bribe) Mr. Okun gave him.
Sure, Richard is probably being manipulated by the prosecutor as will Lara Coleman, They have or will both turn on Ed to save their own asses.
But they were in this all together, if Mr. Simring was so innocent he should have resigned after warning Okun, but the bonus was too tempting, so I say, "you reap what you sow".
Ask my family who went thru the winter montths living on welfare if they feel for Okun, Coleman or Simring. Ask the investors, vendors and hundreds of others affected who lost life savings if they feel for Ed, Richard or Lara. I'm almost sure you won't find one. So I think maybe you should take the diminished capacity claim elsewhere.

[NO SYMPATHY HERE]

Mr. Ellis Stewart Simring,
Do you honestly think that ANYONE with ANY common sense and knowledge of this case is going to believe that Mr. Richard Simring is innocent of anything? I am amazed you had the intestinal fortitude to even post something so asinine on this forum!
Mr. Simring is as guilty as Ed and Lara. He had the option of resigning when he became aware of the misdeeds Ed was doing, but he chose to instead stay and take that "bonus" from Ed. An "Ultra Successful Member of Society" and an upstanding attorney with any ethics and morals would have resigned or reported to authorities what was happening, yet Mr. Simring did nothing except "warn" Ed and continue to be a part of the corruption.
I'm afraid you will get no sympathy from anyone at this forum considering the loss that so many people have suffered at the hands of Ed, Lara, Richard, & David. The investors, former employees, vendors, etc... that lost their life savings, businesses, and other monies owed to them due to the greed of the "Felonious Four" have each suffered their own "crisis" as a result.

I am a former employee who lost several weeks of pay, 401K, etc... and had to start all over again as a result. There were no $800,000 bonus' for me or the other employees who lost their jobs. Many of the former employees were single parents.

You can continue to be Mr.Simring's "cheerleader", but don't come to this forum to exude sympathy and plead Mr. Simrings case. Because if I were the prosecuter, Mr. Simring would not have received a plea deal. He would have suffered the same as I hope Ed and Lara do for all the hurt they have caused SO MANY innocent individuals.

By the way, the $800,000 bonus Mr. Simring received and the $1,000,000 bonus Lara received were without a doubt money that belonged to investors.

As Diminished Capacity so eloquently put it, "you reap what you sow". AMEN

[I have a question]

Is being an "ultra successful member of society" now defined as "you steal from others"?

Success to me is earned not stolen. Maybe if Mr.Okun, Mr.Simring and Ms. Coleman thought that same way, they wouldn't be facing incarceration.

[Previous Employee]

he (simring) was guilty that is why he pled guilty-he got off easy- he was a big part of all this- he was the smartest of this bunch -he knew what he was doing he sold himself out for $$$$$$$$

[Concerned]

What's next ??

[Concerned 2]

Does anyone know if we will be paid our 401k money(company contribution from 2003-present)? I hear by law it must be paid. Ant truth to that?

[Concerned]

Anything new on FAST EDDIE, or SIMONE and the Child

[Hoodwinked]

Hey, I wonder how many people like ole eddie okun are out there? Anyone notice eddie's bank of choice, Wachovia Corp has taken a major hit on bad loans? FDIC stepped in to "arrange" a purchase by Citigroup.
Thanks, eddie for helping screw up our Nation's finances. I hope all involved sit behind bars for a very long time.

[Inside Info]

I have done some research and Have discovered that Simone has moved in a Apartment in downtown Miami and she has sent her son To Brazil.Is she next to go?

[Michael Fox]

Here's the latest on the 1031 Tax Group's multi-million dollar lawsuit against Wachovia for helping Ed Okun commit fraud:
http://1031netex.wordpress.com/2008/10/09/wac...

[Concerned]

Does anyone know if by filing suit against Wachovia or a guilty conviction against Okun it will allow the Trustee to pay any past due wages or 401k contribution in the future? Thanks for any info.

[1pissed off victim]

THe lawsuit filed against WACHOVIA is for the benefit of the 1031Tax Group victims only.

[1031 Victim]

Judge Payne denied Okun's appeal for release. Alex Carerra (mentioned in the defense motion as the proposed "third party custodian" was a no-show despite Okun's newly appointed THIRD attorney (in addition to the two he has already from the public defender's office, so now the taxpayers are paying for a hired gun from the private sector in addition!) told the Judge he'd talked to Carrera the day before and couldn't explain why he wasn't in court. If his absence was a surprise to the Pollack, the new defense attorney, it wasn't to Simone who must have known Carrera didn't intend to show because she recruited a replacement the night before the hearing, an Edwin Escobar, who described himself as a realtor for Avant (?) Realty in Miami who'd "done some transactions with Ed." He claimed he was initially a friend of Simone's (which Escobar pronounced "Sim-oh-nee")in 2002, only meeting Ed in 2005 when he began "dating" Simone (under questioning by the US Attorney Escobar acknowledged having told investigators he believed she was a call girl who'd received $8000 in exchange for "hanging out with Ed.") Escobar also ended up acknowledging some run-ins with the law -- once for "prostitution" (later reduced to "lewd and lascivious behavior" and later dismissed) and again for "stalking" (later reduced to "trespassing" and null processed or words to that effect) which he ascribed to a "fight with my girlfriend". Doesn't appear he actually served any jail time on either of the separate occasions which may not have actually resulted in formal convictions. The more damning acknowledgement, in terms of his propriety as a "third party custodian" to whom Ed should be released, was his acknowledgement that he'd asked that $10,000 Ed was paying him be provided in increments no greater than $9500 to avoid IRS reporting. Since that is exactly what Ed was indicted for originally (albeit a different incident), am guessing Payne decided Escobar might not be the ideal choice. After Escobar's testimony was concluded about the best Pollack could say about his suitability as a custodian was that Escobar had been "candid" about his past...Talk about damning with faint praise!

Interestingly, everyone seems to have travel plans -- Carrera to Brazil and Escobar to points unknown but outside the US. We can all breathe a little easier that Judge Payne has so far ensured that Ed is among those!

On concluding his remarks Judge Payne observed that he was pretty unhappy to discover that Carrera who was described in the original defense motion for Okun's release as a "family friend" but subsequently discovered in the interview with court officers to have met Ed only once "at Simone's birthday party on the boat in Feb 2008" and hadn't seen him since. Payne rather sternly cautioned his defense attorneys, Okun and Simone to be very careful that the claims they were including in their motions were true or they faced the prospect of criminal charges (as did a recent defendent who'd appeared in Payne's courtroom) and also said he didn't want to see any more release motions unless the defense had personally interviewed the proposed custodian and assured themselves they were fully qualified and credible. Considering how deeply they've scraped the bottom of the barrell so far trying to find candidates (Bolani who had abetted Okun in trying to sell jewelry in violation of a court order), someone who had met Ed only once, and someone who confessed in court to being guilty of exactly what Okun was indicted for) doesn't seem likely there are any out there who are going to pass muster with this court.

Is anyone out there familiar with any of this cast of characters? Who is Alex Carrera? Edwin Escobar? Roy Herrara (once described as Ed's gardner, now apparently the "President" of A1 Logistics in Miami (is that still a going concern))?

[Inside Info]

Well that is some news to me.I can't understand why Escobar even went up there to help okun.Mr.Escobar is a smart young guy who does pretty well for him self but lost a big deal because of Edward Okun's situation.I think he was put to the test by Simone to see if he was a good firend or not.He needs to stay away from this major case that does NOT involve him.
Roy Herrara is a guy who speaks English all broken down and is only good for a labor guy.He is a low key guy and means no harm.Just a family man. ALex Carrera????

[1031 Victim]

On rereading my initial post on the renewed effort to get Okun released discovered a rather significant type -- Sorry about that...The sentence in question should have included a "NOT" as in...
"Interestingly, everyone seems to have travel plans -- Carrera to Brazil and Escobar to points unknown but outside the US. We can all breathe a little easier that Judge Payne has so far ensured that Ed is NOT among those!"

So how does Herrara, "a guy who speaks English all broken down and is only good for a labor guy" qualify to be President of A1 Logistics. Sounds like that company (through which Ed tried to launder funds at one point according to court docs filed in the bankruptcy case) is just a sham. Is that your take too or is it a going concern? If so, who is the owner and where are the profits going?

[1031 Victim]

Okun and Coleman's trail has been postponed from Jan 19 as originally scheduled. New trial date is scheduled to begin on March 2, 2009 at 9:30 a.m. Jury selection will begin on March 3, 2009 at 9:30 a.m.