FRM Scam in Meredith

[Sunbeam lodge]

New article in Citizens today about perceived coverup by State Att Gen. Office.
What has happened to all the principles involved in this case? It seems ridiculous that this scam was known in 2003 and these guys are still living normal lives after so many investors have been destroyed and are suffering.
You have to wonder how all these millions were reported on their income taxes.
How can $80-100 million dissapear without showing on your tax returns.
Try to claim an additional exemption or a charitable contribution over $250 without a canceled check.
You would think someone would have checked tax returns and that could put them away fast. It worked in the Al Capone case. Maybe we need the "Untouchables" back or vigilantes.

[jmen24]

Makes you wonder if they got flushed out in the off shore account investigations (last year?). That seemed to be the way to store massive amounts of money and then keep it quiet.

[Resident 2B]

In the past few years, the FBI has been hiring accountants with strong auditing backgrounds. When I became aware of this, I thought it was strange. However, with Bernie Madoff and now the local slime-balls ruining peoples lives, I applaud the FBI for their move.

It takes time to connect the dots, but once connected, the case should be solid. Lets face it, that amount of money does not disappear into thin air if managed properly. I know people who lost a lot of money in these ponzi schemes. These are good, hard working people, now past their earning years. What are these people to do? What a shame! They deserve much better lives than they now have. Quality of life was taken from them.

I cannot wait to see everyone that was involved in anything illegal that may have occured at FRM getting what they deserve. This includes regulators that should have taken action, but by many reports did nothing.

R2B

[trfour]

A very sad day and time. While our elected Government officials sit and let most of this corruption take place, they just DO NOT GET IT!!!!
The Good O'LL days are GONE, and The Good O'LL boys are about to Fallow!!

New Hampshire IT Firm Looses $100,000 to Online Bank Fraud! And just take a wild guess who is going to pay some more for this under sight!!
http://www.krebsonsecurity.com/2010/02/it-firm-loses-100000-to-online-bank-fraud/

Now, I know that most of us try our darnedest to keep a happy face on, But then again there are some that are being pushed over the edge!

It does not take a rocket scientist to understand that our enemies around the world are ringing their hands and planing even more destructive blows, and counting on this wildly spreading corruptive Cancer, if you will, to bring us down.

It is way past time for us to take it out of neutral, put it in gear, and Go Forward!!

Just my four cents worth.

Terry
________________________

[wifi]

....
New Hampshire IT Firm Looses $100,000 to Online Bank Fraud! And just take a wild guess who is going to pay some more for this under sight!!
http://www.krebsonsecurity.com/2010/02/it-firm-loses-100000-to-online-bank-fraud/

Now, I know that most of us try our darnedest to keep a happy face on, But then again there are some that are being pushed over the edge!...

Its so scary that someone with your 'numbers' can just put in a transaction that 'your' bank will try to reverse. What a setup for hackers (http://www.guardian.co.uk/technology/2010/jan/14/google-hacking-china-cyberwar) :fire:

[fatlazyless]

In case you missed this in the other thread, go take a gander at the January 15 www.laconiadailysun.com interview of the NH Bank Commissioner.

After reading that a couple times, and it is fairly long, I came away thinking that the people in Concord who are supposed to be regulat'n were more interested in getting themselves recused from doing their job due to an imagined conflict of interest through the brother of the commissioner.

Could be that the bank and securities people need to get in a month of training with law enforcement so they won't be so squeamish.

Someone steals your car.....that's a crime....someone steal's your retirement....that's a long voyage thru federal bankruptcy court...?

[robmac]

And as we read daily it is still happening on a daily basis. With all we've seen a common sense type of person would think we need to put policies and procedures in place to prevent this from recurring. But our elected and appointed officials seem to want to remain reactive than to take a proactive approach to these thefts. A crime is a crime.