ATM LEASEBACK SCHEMES-- any insight?

[webhick]

This is a comment strictly issolated to the math.

It's an old nemesis of mine. You should see the way I manhandled the One24 numbers. Cringeworthy.

[grimreaper]

• #1 - 01/13/2010 - deposited seven checks from seven victim-investors for a total deposit of $246,300. No multiple of 8 will get you 30, so there's no combination of $12k and $19.8k that will get you that deposit amount.
• #2 - 12/01/2010 - deposited nineteen checks from nineteen victim-investors for a total deposit of $1,039,836. Six dollars? SIX DOLLARS.
• #12 - 02/01/2013 - deposited 41 checks from 33 victim-investors for a total deposit of $1,329,124. Four dollars.
• #16 - 01/12/2010 - deposited 27 checks from 24 victim-investors for a total deposit of $1,746,200. 8 does not go evenly into 20.

This is a comment strictly issolated to the math.

#1 "No multiple of 8 will get you 30". The focus should actually be on the 3 and the statement is otherwise correct.

#16 "8 does not go evenly into 20" - totally true, but 8 does go into 32. So you can have an $800 amount go evenly into $3,200 (x4) or $1,331,200 (x1664). $19,800 actually goes straight into $1,746,200 88 times. That can reasonably indicate 88 units sold at $19,800 across 24 distinct sales.

The only way the other numbers make any sense is with partial payments of some type - in which case all bets are off on easily getting the math to add up without proper documentation.

The fact that we have MORE checks than *victims* in two of those cases *could* indicate that indeed some of the investors may have sent in partial payments.

[Tednewsom]

Golll-leee! You fellas really know your Guzzindas! 800 guzzinda 3,200 four times... 19,800 guzzinda 1,746,200 eighty-eight times... pshew! Boy howdy, I get smarter jus' lookin at the numbers on the pages here.

[Gregg]

Move to Three Mile Island and grow more toes.

[noblepa]

Move to Three Mile Island and grow more toes.

One time I happened to be driving near Three Mile Island. We stopped for gas and the station was selling a t-shirt that said "I Survived Three Mile Island . . . I Think".

[Gregg]

Move to Three Mile Island and grow more toes.

One time I happened to be driving near Three Mile Island. We stopped for gas and the station was selling a t-shirt that said "I Survived Three Mile Island . . . I Think".

Just listen to this one....

https://www.youtube.com/watch?v=vNBKD5G_KXE

[Tednewsom]

Every time this thread settles down for a couple weeks, something neat happens.

I wonder...

[grimreaper]

any day now >>>>

[webhick]

Well, I have someone on the blog accusing the receiver of using up all the funds that should go to victims. He seems to feel as though the government should foot the bill for the receiver so the victims will do better.

I don't think the taxpayers would go for that.

[grimreaper]

Yes of course....let the FED subsidize faulty investing.

[Tednewsom]

I don't much like the idea that one cent of my tax dollars goes to someone figuring out the mess that a couple crooks made by stealing money from 2500 people I don't know.

[rogfulton]

I don't much like the idea that one cent of my tax dollars goes to someone figuring out the mess that a couple crooks made by stealing money from 2500 people I don't know.

My vote for today's winner of the Intertubes.

[notorial dissent]

Well, I have someone on the blog accusing the receiver of using up all the funds that should go to victims. He seems to feel as though the government should foot the bill for the receiver so the victims will do better.

I don't think the taxpayers would go for that.

Yeah, the alternative being that the scam gets shut down by Law Enforcement and the investors kiss any possibility of EVER getting even a dime back. Really a cost effective solution. As I, and Gregg, have said getting even 10¢ on the dollar out of these things is often next to impossible, not having the gov't there "spending" a bit of what was left means they would get nothing. So they may not like it, but who EVER said life was fair. At this point, they will get something as opposed to nothing.

[webhick]

Quick question since I'm not finding any real answers online. A commenter posted about how the receiver was going to rack up milliions of dollars and fees and the victims would not see anything. When I crunched the numbers, the receiver and legal fees add up to a fraction of a penny on the dollar for the losses.

But it got me thinking. If the receivership and lawyer blow through what NASI had and currently brings in, does the receivership get paid out of clawback funds?

[Judge Roy Bean]

...

But it got me thinking. If the receivership and lawyer blow through what NASI had and currently brings in, does the receivership get paid out of clawback funds?

Only if the court allows it.

[NYGman]

Only if the court allows it.

Your post reminded me, I took this last weekend...

[Judge Roy Bean]

Damn - you've outed another illuminati branch office!!!!

[webhick]

...

But it got me thinking. If the receivership and lawyer blow through what NASI had and currently brings in, does the receivership get paid out of clawback funds?

Only if the court allows it.

Thanks!

I'm trying to convert the legal billings to Excel, but the damned thing was scanned to PDF and the OCR is failing horribly. I'm going to have to enter it manually like some kind of animal.

[Burnaby49]

...

But it got me thinking. If the receivership and lawyer blow through what NASI had and currently brings in, does the receivership get paid out of clawback funds?

Only if the court allows it.

Thanks!

I'm trying to convert the legal billings to Excel, but the damned thing was scanned to PDF and the OCR is failing horribly. I'm going to have to enter it manually like some kind of animal.

[Arthur Rubin]

I'm trying to convert the legal billings to Excel, but the damned thing was scanned to PDF and the OCR is failing horribly. I'm going to have to enter it manually like some kind of animal.

Reminds me of the CareerBuilder commercials. (I'm not going to post a youtube link, as I'm not sure which, if any, are authorized. Do a YouTube search for Careerbuilder monkey, and you'll find a number of them.)