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Samiam
I assume when you say Your government, you haven't figured a way of being governed by some other entity? :laugh: Unfortunately it is Our govenment, and when enough people realize it is not their government we might see some meaningfull change. Not the false "hope for change" that they have elected.:(
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Today's www.Citizen.com says the NH attorney general has filed a petition to place Financial Resources into federal bankruptcy court as an involuntary bankruptcy. The lawyer for the principal says his client has been away, under a doctor's care, and will return.
When the Bernie Madoff scheme first came to light, a couple europeans who were duped into investing their client's millions & billions with Madoff went to the slow and painfull extreme of suicide by slitting their wrists while seated, fully clothed, in a bathtub without water. That could be a French traditional manner for expressing one's personal regret ......so sorry about the mess & bon voyage!.....:rolleye1: Gee whiz...why not have the State of NH jump in, & bail out Financial Resources with a big injection of 23-million dollars of state cash, just like the feds did for AIG, Citi, Bank of America, GM, Fannie & Freddie.....but not Lehman Brothers or Washington Mutual who are now pending in bankruptcy court. ...and how much risk is too much risk? ...and if the decision-maker did not have a go-to backer behind them, would they have taken on so much risk? So, where do investors go to get their money back? So, what exactly happened to Financial Resources, and where exactly is the presumably lost money now? Where did it go? Where is the money? Was it accidentally thrown out with the morning trash? Was it secretly buried up the hill, behind the big pine tree? Was it loaned out to people who can no longer repay their loans for some unknown reason and now Financial Resources cannot make its' monthly payouts to its' investors? Like, what happened? Where's the money, and where did it go, and how did it get there? Hey, the Sunday Nov 22 www.concordmonitor.com has a long article on this. It is longer than 1/2 of a newspaper page.....that's long for a NH paper....and full of info. |
And, Bernie's Digitally Corrected Alarm Clock...
now reads, 149 years +.
Somewhere in the United States Constitution, you will find the words, "and I quote", "We The People"... If we all ever needed to get involved, that day in time is Now! Summer vacations are Over! "WE, and only WE", are resposible for our future! I would strongly suggest at this time, everyones involement and support! Todays issues in the Lakes Region, Terry |
pastor vs. priest
A pastor does not technically need any formal or official designation ...anyone can call themselves a pastor. I'm not sure how much theological education Bob Farah has under his belt, but I can assure you that most of what he teaches comes from his own interpretation of the bible. A "priest" is a catholic term I believe, while "minister" is typically used in most Protestant religions.
Catholics do have priests, as do Episcopalians, although the term priest is straight from the Bible and is certainly not owned by any one denomination. Protestant churches do have ministers, many of whom are referred to as pastor or reverend depending on the church and sometimes the geographic location (I've heard pastor used far more in the south, reverend from the mid coast on up). They gained their ordination through schooling and not a self-titled attempt at screwing people over. While *this* pastor is a scumbag, assuming "pastor" = evil is way off base. |
St. Charles Church Supports Farah
I just read that St. Charles Church, after supporting the Meredith Food Pantry for 31 years (which is a registered non-profit organization), has now rescinded its support -and will be giving ALL of their contributions to Rev. Bob Farah at the church on Bean Road. Does Rev. Audet have his head wedged somewhere ?? I am stunned by this turn of events, and if you are a member of this church, you should find a way to stop this. It has been going on since October ... unconscionable.
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ditto that
I saw that in the La Da Sun, Donnamatrix, and it made me sick to my stomach. That guy is an amazing con artist.
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Certain facts have been brought to my attention that leads me to the same conclusion that some have expressed here about Bob Farah. He is not the person I thought he was.:(
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New info 11/27/09
Owner of closed mortgage company returns to NH
(AP) – 3 hours ago MEREDITH, N.H. — A lawyer for the owner of a closed mortgage company being investigated by the state says his client is back in New Hampshire. Company owner Scott Farah, Financial Resources Mortgage and its partners are at the center of an FBI and state investigation after the company closed suddenly this month. Since then, dozens of investors and borrowers have claimed that Farah and Donald Dodge are holding at least $23 million in investments. This week, a U.S. bankruptcy court judge granted the state's request to force Financial Resources and a related business, CL&M, into voluntary bankruptcy. An interim trustee has been appointed to take control of any property, records, money and payments and communications belonging to the two companies. A hearing has been scheduled for Dec. 3 at the U.S. Bankruptcy Court in Manchester. |
Info from the Web
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http://www.my-pastor.com/pastor-robert-farah.html I don't find any answer to the questions raised here on his pastoral training and education. Maybe I just missed it. |
....well....to answer the question....where did the 31-million go....here is reportedly where one 12-million dollar chunk of it went....
Financed with a 12-million dollar construction loan from Financial Resources Management of Meredith, NH..... After... " nearly four years since construction began at Abbott Village, the luxury condo developement on North State Street, Concord NH, that has no residents, no prospective buyers and no promise of swift rebound from a stagnant housing market......" article by Daniel Barrick, www.concordmonitor.com, Sunday Nov 29 ....this article does not sound too encouraging for the FRM investors looking to get their money back.. 31-12=19-mil....so what happened with the rest of the money? So, what's the big boss driv'n for a car.....probably not a Geo Tracker:D:laugh::D? ........ ...some of the comments from the Concord Monitor email peanut gallery... "The guy made a bad business decision thinking that some of that Massachusetts money would be spent on property NOT on a lake." by DZ "Who would spend 500,000 on any property with the view across North State Street?" by littlecitygirl |
Meredith CAP and food pantry
As a resident of Meredith for 27years, and a member of St. Charles Church for just as long (I was married in the original church)..and baptised both my children there (and Sunday school..confession, first communion)..I was shocked to see that St.Charles has now decided to support the Center Harbor Food Pantry vs the Meredith Community Action Program and the food pantry there. St. Charles is in Meredith, for goodness sake! I know Meredith has more population than Center Harbor, and probably more resources..but what ever happened to taking care of your own? This whole thing has made me livid...when I drop off a donation, or food, or volunteer my time, I expect it to go back to my community. CAP in Meredith has been there for 35 years does an awesome job to help our citizens who need assistance...why the change??
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FBI probe of mortgage firm no surprise to lawyer
From the Union Leader this morning......
By DENIS PAISTE New Hampshire Union Leader Staff MANCHESTER – Attorney Chris Carter, who is representing a Texas couple in a suit against Financial Resources Mortgage Inc. -- the shuttered Meredith company under investigation by state and federal officials -- says his only surprise is that authorities didn't take action sooner against the company and its principal, Scott Farah. Carter said he communicated his concerns to authorities at least three years ago. Since Financial Resources Mortgage and related entities closed abruptly Nov. 9, state and federal investigations have begun. Civil suits have been filed in both Belknap and Merrimack superior courts seeking to recover more than $23 million on behalf of people who say they invested with Farah. "I've dealt with this company for seven years, and during that period I've been involved in four separate lawsuits with them," Carter, of HinckleyAllenSnyder LLP in Concord, said in a telephone interview. Each of those prior suits was settled out of court, he said. "During that period of time, I have personally seen objective, documented proof of fraud being committed by Scott Farah, Financial Resources Mortgage and other individuals involved with him," Carter said. "Therefore it is not surprising to me that this most recent disaster has occurred," he said. ►Mortgage firm's investors head to court tomorrow ►Investors wonder: Where did all the mortgage firm's money go? (2) ►Troubled mortgage firm under water ►FBI looking into mortgage firm's closure (9) Attorney Michael D. Ramsdell, of Orr and Reno in Concord, who represents Farah, did not immediately return a phone call yesterday. "The full extent of the fraud in the case of my client is not yet known and cannot be until we obtain further information during discovery," Carter, who is a former New Hampshire prosecutor, said. "At this point given the claims filed by other individuals, we have serious concerns about the legitimacy of any of these transactions." Carter served in the New Hampshire Attorney General's Office from 1997 through 2001, leaving as a senior assistant attorney general in the homicide unit. He also prosecuted white collar crime. Carter is currently representing Chris and Robert B. Furgerson of Houston, Texas, in a civil suit filed in Belknap County Superior Court to recover $1.6 million. Among previous cases in which he represented clients against Farah were National Inspection and Repair of Topeka, Kansas, and Ronnie Stone, Carter said. "I've seen numerous instances where Scott Farah induced people, including members of his church, to invest money in what he claimed were legitimate investment opportunities with Financial Resources," he said. Farah "provided the individuals with paperwork identifying those alleged opportunities by name when in fact the so-called investment vehicles did not exist," Carter said. For example, Farah solicited funds on behalf of National Inspection and Repair after it had gone bankrupt, Carter said. "Scott Farah and Financial Resources were fully aware of the fact that National Inspection and Repair was no longer a viable functioning business and in fact had hundreds of thousands of dollars of debts," he said. Write to New Hampshire Union Leader Business Reporter Denis Paiste at dpaiste@unionleader.com |
....where's the money?
FRM is/was located close to the roundabout, way up top of the hill and sort of overlook'n Meredith Bay, and the mountains to the north.
Where-o-where-o-where is the money? Could be a good time to nose around behind the building with a metal detector. Check for suspicious looking disturbed grass and soil? Maybe check the space above the suspended ceilng? Check under the cowl of the Merc 150 on the Whaler? Check in the attic of the boat house? Look in the sock drawer? Check under the spare tire on the Escalade? Some lawyerly look'n guy on Channel 9 said it could be as much as 75 million, as opposed to just the reported 31 million. This is a big NH news media story.....top of the front page.....lead story 6pm tv news.......and it happened right here in Meredith! Could be they shopped the new Hannaford's and thought it was priced ok........ok..........$88.00 for groceries.........no problemo.....strictly small potatos! Lots-o-luck to anyone look'n to get their invested money back....where did it go and why is it now maybe non-existant? Were the incoming "investments" used to pay the high interest out to prior "investors" and to cover any redemptions? It sort of explains how such high interest could be paid... FDIC......$250,000 insured........not here buddy.... |
Testimony herd on Morgage company's missing funds.
In todays Citizen. http://citizen.com/apps/pbcs.dll/art...918/-1/CITIZEN |
ere's the cell phone tower legal defense!
Here's a legal defense for the principal at FRM in case he has to go to criminal court vs either the US attorney or the NH attorney general.
He can legitimately claim that over exposure to a cell phone tower......the transmission of multiple cell phone signals....from a distance of 50' or less...is what made him engage in a massive 100-millon dollar ponzi scheme. The cell phone tower made him do it! This can be called the cell tower alibi! What the H am I talking about? The office building that is home to FRM is located up on top of a Meredith hilltop called either Ladd HIll or Sunset Hill, and is close to the Meredith roundabout and Energysavers. A large and very powerfull looking cell phone tower, crawling with wires, transmitters, and a large multitude of various communication gear sits literally 13' away from a corner of the FRM building. The perfect alibi....the cell tower made him do it.....is totally believable if you could see the installation. It's just totally amazing what long term, up close and personal exposure to a cell phone tower can do to one's sense of critical thinking. Like, is offering loans out at 20% and offering investors a return of 15% a good idea? You know it is! This idea came while under the infuence of that high-powered cell phone tower. In the words of the immortal African American musician & singer, Scream'n Jay Hawkins, "It cast a spell on me, and now I'm yours!" 'So, that's my story and I'm stick'n to it.....Mr U.S. Attorney for N.H.' :eek::rolleye1::eek:! ....yeah......the cell phone tower defense.....that is highly believable after you see the tower installation so close to the building....how close is it.....so close! bbbbbzzzzzz-bbbbbzzzzzz-bbbbzzzzz |
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Please don't equate capitalism with greed and theft. |
karma?
http://www.citizen.com/apps/pbcs.dll...7/-1/citnews04
Pastor linked to mortgage schemeLaconia: By GAIL OBER Saturday, December 5, 2009 A superior court judge has ordered all of Pastor Robert Farah's assets, including his three properties, frozen despite his personal pleas to release them. Farah, who represented himself before Judge Kathleen McGuire in Belknap County Superior Court Friday, had been named as a respondent in a suit filed by Robert Furgerson, one of the alleged victims of his son, Scott David Farah's alleged Ponzi scheme. After the suit was filed, McGuire ordered that all of the respondents' assets be temporarily frozen until Friday's hearing. "Everything I own is attached," said Robert Farah. "Me and my wife. We can't pay for anything." Furgerson came from Arizona to testify and said he was enticed by Robert Farah to invest the proceeds of a real estate sale into some investments coordinated by Scott David Farah. Represented by attorney Chris Carter, Furgerson needed to show that Robert Farah substantially influenced Furgerson's decision to invest through Financial Resources Mortgage, Inc. and that his finances were linked to that of his son. Furgerson said he first became aware of Financial Resources Mortgage, Inc. when he received a postcard solicitation and, after some investigation, he made a $60,000 investment. He said after that he often received phone calls from Scott Farah but, when Scott Farah learned of his real estate sale, the frequency of the calls increased. He testified that Robert Farah called him once or twice, a claim Robert Farah denied. Furgerson said he continued to demure on the larger investment and Scott David Farah invited him to visit New Hampshire and offered him his father's cottage on Lake Winnipesaukee to stay. "It was kind of like Beaver Cleaver," said Furgerson as he described how both Farahs and their wives and children made him dinner during his visit. "We held hands and prayed and part of that prayer was that [his son's] business continued to prosper," Furgerson said. "It was like a movie set." He said it was just before the meal that Robert Farah encouraged him to invest, adding, in retrospect, he thinks he must have "checked his brain somewhere." As Robert Farah continued to deny he had any active role in his son's business, Carter provided document after document that he said proved just the opposite — including one that listed Robert Farah as one of the incorporators of Financial Resources Mortgage, Inc., in 1989 when the company was formed. Robert Farah admitted to lending his son the money to start FRM but said he withdrew his interests once the company got going. Carter also stated that one parcel of land that was sold to Furgerson through a realty trust was once owned by the Center Harbor Christian Church. Robert Farah replied that the Center Harbor Christian Fellowship once owned the land while the church he ministers is the Center Harbor Christian Church. He denied that either he or his son used the pulpit to solicit investors. "We are a poor church. Many of my parishioners are unemployed," Robert Farah said. Carter also called on Oskar Klenert, the owner Earth Protection Systems, who claimed Scott David Farah raised $2.5 million, allegedly for his company, and Furgerson was a supposed investor. Klenert said he had not planned to testify, coming to Laconia from his home on Cape Cod like many other erstwhile investors to see the proceedings and to try and learn what was happening. He said he had known Robert Farah for nearly 40 years and Farah encouraged by him to go see Scott David Farah to raise money for his invention, the Earth Cell Module. "Do you know [Robert Farah]?" McGuire asked him. "Yes," said Klenert. "Is what is represented by Mr. Carter true?" she continued. "Yes," he answered. "Did he induce you?" she asked. "No," replied Klenert. "It was some kind of plan and after the loans were paid I agreed to give him part of the business." Following the hearing, Klenert and Farah spoke briefly though it is not known what the two longtime acquaintances said to each other. In the hallway, Robert Farah acknowledged the hearing did not go the way he had hoped but he declined to say more. Klenert said he was completely taken aback by what he heard in court about Scott David Farah's dealings and the number of people he allegedly defrauded. He said he hoped the Farahs live the rest of their lives with some element of remorse. "I say, let the truth prevail," said Klenert. They're a poor church? Then why is he living large? |
Was wondering
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Usually, cell towers are placed way off by themselves, either on a distant hilltop, or in a septic treatment facility, but here was one only 13' from a building with people inside. Just seemed very weird! :rolleye1: |
The FCC has a very well known set of rules regarding emissions, this will not be an issue.
As many know, BHG used to transmit from that very tower, and when I was servicing the transmitter (many years ago), it was well within FCC guidlines, and that was thousands of watts into the antenna array. |
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Seeing the tower up close with all its' numerous thick wiring, transmitters, & heavy duty electronic gear.....it sort of resembles a giant tazer gun from an old James Bond movie that belongs to Financial Resources Management.......like.....ZAP!......take that.......(you l:coolsm::coolsm:se your money........too bad......Mr Richy Rich)............:D....bbzzz......bzzzzz.....bbzzz ......ZAP.....got another one......15% - Guaranteed Return.....oh yeah.....way-to-go.....let's aim this baby at Wolfeboro...there's plenty rich people over there!! |
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So if Johnnie Cochran was still alive and handling this case, he might say: If the cell tower emits, you must acquit. :D |
Sam that is too funny! FLL, I'd get down there and start selling tin foil hats asap. :laugh:
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FLL, cell tower sites are treated as a boundary line in respect to setbacks. The town regulated how close an accessory structure or your house can be to the front, sides and back of your property line (these can be breached with proper filing of a variance and receiving approval), this allows the owner of the property that the tower sits on to build ANY structure within setback distances from the cell site. I am guessing that the 13 foot number is a WAG, just seems really odd for a setback, typically in 5 foot increments.
With that in mind, FLL, hope you have a really good relationship with your neighbors, you could be the next person with a cell tower within 15 ft of your property line. I would think you would want to be directly under the cell tower. I do not know if anyone else notices this but the closer you are to a tower the worse your service is. I was told at one point that it has to do with the broadcast cone, who knows could have been smoke. |
The latest....from the Union Leader
What a surprise! From today's Union Leader...
http://www.unionleader.com/article.a...b-3bfb9734bcbc Reminds me of a saying -- something about a nut not falling far from the tree... |
little church?
Apparently no one at the Union Leader has seen that place.
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List of those suing over mortgage scheme gets longer
List of those suing over mortgage scheme gets longer:
http://www.fosters.com/apps/pbcs.dll...=2009712099874 |
A developer in Nashua has listed both companies as lenders who defaulted on loans to him as well. This isn't his only problem but certainly adds to the list.
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Any response from St. Charles Church?
We are curious. We do attend St. Charles when we are at the lake but it has been some time since we have been up on a week end. Has the church made any response or explaination to why their change in support of the Meredith Food Pantry?
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....clawbacks - legal definition
Yesterday's Dec 12 www.citizen.com had another article about the Financial Resources Mgmt of Meredith ponzi scheme and spoke about clawbacks.
What is a clawback? That's where the US bankruptcy court that's now in charge of cleaning up this financial mess seeks to get FRM investors to give back their interest payments received. And, how do you like them apples....just imagine that. First as a trusting investor you find out that your principal money invested is gonzo, and now the court says for you to repay your old high 15% interest received. Not a happy ending in sight here, except of course, for the attorneys, as it is all billable hours to them.......what's a good lawerly phrase here for how they work.....litigate & collect.....churn & burn....file a motion & buy a Volvo.....adjudicate & think waterfront.....'listen to your client sing & go buy girlfriend a big fat diamond ring'.......hmmmm.....got to be some better phrases out there than these......? ... :):D |
Talking about clawbacks, according to this here list of political contributions http://www.city-data.com/elec2/elec-MEREDITH-NH.html that I found on google, the principal at Financial Resources Management, Scott Farah, made a $250 contribution to the National Republican Congressional Commttee back in 2001. Hopefully, the Republicans will not have to return the money because those Republicans seem to be needing all the help they can get for right now at least.
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One big difference between the bailed out banks and investing with Financial Resources Mgmt is that bank depositors have bank failure insurance with the FDIC. For a much safer investment the FMR investors could have bought McDonald's stock which also has no insurance other than the power of their hamburger & french fries. You know, the Meredith McDonald's is actually located just about 100 yards downhill, through the woods, from the Financial Resources Mgmt building. Probably, some of those who lost big money with FRM probably stopped at McDonald's enroute to FRM, like maybe at their take-out window. Hindsight is 20/20, but to think they could have invested in MCD which pays a 3% div & stock price appreciation or loss. How many people eat at McDonald's every day? Who you gonna trust? And, is there a personal story out there about one's money lost with Financial Management Resources, and how it has effected you financially, and what it has done to your life? |
News Update In Todays Citizen...
Bankruptcy trustee asks for 3 months to sort things out...
http://citizen.com/apps/pbcs.dll/art...918/-1/CITIZEN |
NH Banking Dept & NH Securities Dept face-off
While the US Bankruptcy Court in Manchester freezes for three months the pending lawsuits between a number of investors and Financial Resources Mortgage of Meredith, it looks like we'll get to see a face-off out on center ice between the NH Bureau of Securities and the NH Banking Department.
........ "I have reason to believe that the Bank Department failed to fulfill its regulatory duties and that is why we are asking for the records as well as to confirm that this is not a state securities matter." Mark Connolly, director of the N.H. Bureau of Securities Regulation ....... "This is a securities matter." Peter Hildreth, N.H. Bank Commissioner ....... www.laconiadailysun.com, Dec 18, starting on the front page, article by Michael Kitch ....... "When the firms closed officials found what several have called a Ponzi scheme costing more than 500 investors as much as $100-million." |
For years, I have known people to say that cell phone towers and cell phone next to one's ear will cause many issues to us all!
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Amazing now that the "you know what" has hit the fan, how fast every regulatory body around claims that the FRM mess was someone else's responsibility. From what I've read, it appears that they were all caught with their pants down.
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I think maybe Pastor Farah will be changing his Prius' vanity license plates soon, so no one recognizes the car by the "FARAH" plates! (I think I would!)
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Is there any update on the two state regulator agencies and the "blame game" they have been playing?
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