A new Bernie Madoff in the Lakes Region?

fatlazyless · 12-18-2009, 09:03 PM

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.
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"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
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"This is a securities matter."

Peter Hildreth, N.H. Bank Commissioner
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www.laconiadailysun.com, Dec 18, starting on the front page, article by Michael Kitch

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"When the firms closed officials found what several have called a Ponzi scheme costing more than 500 investors as much as $100-million."

12-18-2009, 09:03 PM	#16
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,792 Blog Entries: 1 Thanks: 301 Thanked 1,024 Times in 745 Posts	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." __________________ ... down and out, liv'n that Walmart side of the lake!