FirstPlus Financial Group (fka FPFXQ)

[jog49]

I suspect we will have not received a penny at the time of his release in 2030. Those in charge of the orderly closing will milk the cow for expenses until the cow can produce no more.

[SW44]

This notice is to inform you that WILLIAM MAXWELL's release date has been changed. The inmate is now scheduled to be released on July 17, 2030. The inmate is not eligible for parole.

[windsomme]

Something is going on with the bankruptcy court, don't know exactly what.

[SW44]

https://nationalmortgageprofessional.com/news/us-supreme-court-denies-mafia-mortgage-appeal

[windsomme]

The Supreme Court has declined Scarfo's appeal.

[windsomme]

So the boys must of had 90 days to appeal the appeal to the Supreme Court, Bill Maxwell and Nick Scarfo separately filed in October. So we stalled are again .

[SW44]

This notice is to inform you that SALVATORE PELULLO's release date has been changed. The inmate is now scheduled to be released on December 21, 2036. The inmate is not eligible for parole.

[jog49]

It is disconcerting that the assets are held, on our behalf, by one of the most corrupt component of our government, the DOJ!

Also, if any of you are considering hosting a "welcome home" party for Maxwell, I will contribute rope. I've got some his slimy neck will not slip out of when weight is applied.

[windsomme]

Their appeal was in mid July, don't know if they can or did appeal again. The DOJ or marshal service still has a lot of our Money . Hopefully we will get it sooner then later, was told that the restitution dept is in charge.

[SW44]

11/19/2022
This notice is to inform you that WILLIAM MAXWELL's release date has been changed. The inmate is now scheduled to be released on July 17, 2030. The inmate is not eligible for parole.

[windsomme]

I would read it if I could get it. I would be a very interesting as to what went on.

[jog49]

"In a precedential, 169-page opinion issued July 15, 2022, a three-judge panel of the U.S. Court of Appeals for the Third Circuit affirmed all the convictions and sentences, except for the forfeiture portion of John Maxwell’s sentence, for which it remanded the matter to the District Court to determine what share of the forfeiture he should pay."

169 pages? Really?

"GUILTY AS CHARGED" IS ONLY THREE WORDS for God's sake!

[flemsnopes]

Should anything new be recovered, I'm sure it will just go to all the government lawyers put in place to "help" fpfx shareholders.

[windsomme]

Just maybe we can get the rest of our money.

[SW44]

https://www.justice.gov/usao-nj/pr/appeals-court-affirms-convictions-and-sentences-organized-crime-case

[windsomme]

15 years today the mob won , and we are still not done. There is still a lot of money left in the forfeited items that were sold.
All the appeals should have been done by now, so what is there excuse now. There is a new attorney for the state of Nj , maybe he could help before we all die of old age.

[Windsome52]

So Mano threw Scarfo under the bus,to save his hide. Mano brought his 2 daughters and wife every day ,my guess is that the jury bought into the fact they didn't want the daughters to have to visit him in prison every weekend. Adler's firm paid 3 mill thinking he was going away. They are all lawyers and deal with this crap every day.

[flemsnopes]

I'm betting his New Jersey lawyer has a lot of inside connections.

[SW44]

It sounds like he is trying to get his case dismissed. Probably a long shot...
Grouped Cases Tainted $12M Extortion Trial, 3rd Circ. Told

[flemsnopes]

Not me, but I'll monitor for other sources if it goes forward.

[SW44]

Anyone have an account so we can read this story?
https://www.law360.com/delaware/articles/1400448/grouped-cases-tainted-12m-extortion-trial-3rd-circ-told

[flemsnopes]

We were better off with the mob.

[jog49]

I think all of us that remained thought Justice would eventually prevail. Then we all awakened, realized we now live in a corrupt society where the dollar is king, and are left to lick our wounds with empty brokerage accounts, as far as FirstPlus is concerned.
We have four judgments totalling $56 million and none of the four amigos had even 1¢ that could be claimed/confiscated. Don't tell me crime doesn't pay!

[Windsome52]

Nathan Jenkins 750,000
Texas lawyers 1.8 million
Hansen 30,000
Government 25 million
Grandpa lawsuit lawyer,15,000
Plane storage 132,000
And that's some of the other costs we paid for.

[malp2009]

Attorneys Fees & Expenses $5,063,647.31

as of 12/8/2020

Nice. For the attorneys. Not so much, for the Shareholders/Victims

https://www2.slideshare.net/malp2009/fees-attorneys-fpfgbk

[malp2009]

The Death Notice - Hearing 12/15/2020

Merry Christmas, Happy New Year! They get everything and we get nothing.

https://www2.slideshare.net/malp2009/doc1107-notice-of-hearing-2020-1215

[malp2009]

Done! Finished! As of 12/31/20 NOTHING!!

But, Matthew D. Orwig gets a big check $323,144. We get nothing!

And, Youth180 gets $44,226. We get nothing.

Terry Allen, a creditor and party in interest in the case, seeks to buy whatever assets may remain from the Trustee for $6,000. the Trustee respectfully requests that the Court (a) authorizing the sale of the remaining assets to Mr. Allen.

Who is Terry Allen?

The Trustee is only aware of one potential source of funds that could
come into the estate. A restitution order entered by the United States District Court for the District of New Jersey in a related criminal proceeding calls for $14,000,000 in restitution to be paid.

So it appears that Matthew is giving up on all of the items that the government is holding, cars, boat, plane money, rings, etc. That Terry could make out like a bandit.

A sad ending. Matthew could have gone better. Once again, the attorneys get more than we do.

https://www2.slideshare.net/malp2009/doc1105-motion-for-approval-of-disposal-of-residual-assets-final-accounting-and-final-decreee

[flemsnopes]

"I'm from the government and I'm here to help". The nine most terrifying words (technically, 11) in the English language according to Ronald Reagan. I think he may have been on to something. Thanks for all your efforts over the years, malp.

[malp2009]

Final Order of Forfeiture $12,000,000, Nicodemo Scarfo Jr, September 6, 2016

Over 4 years later, nothing, where are the Trustees, Matthew Orwig, Doug Skierski, all of those attorneys that took our monies, where is the DOJ?

https://www2.slideshare.net/malp2009/1372-final-order-forfeiture-12000000nicodemo-scarfo

[malp2009]

Final Order of Forfeiture $12,000,000, Salvatore Pelullo, September 6, 2016

Over 4 years later, how about some money?

https://www2.slideshare.net/malp2009/1373-final-order-forfeiture-12000000salvatore-pelullo

[malp2009]

Final Order of Forfeiture $12,000,000, John Maxwell, September 6, 2016

Over 4 years later, where's the beef

https://www2.slideshare.net/malp2009/1374-final-order-forfeiture-12000000john-maxwell

[malp2009]

Final Order of Forfeiture $12,000,000, William Maxwell, September 6, 2016

Over 4 years later and not 1 dime

https://www2.slideshare.net/malp2009/1375-final-order-forfeiture-12000000william-maxwell

[malp2009]

Final Order of Forfeiture Rings, Lisa Murray, September 6, 2016

Over 4 years later, where are the Rings

https://www2.slideshare.net/malp2009/1376-final-order-forfeitureringslisa-murray

[malp2009]

Cash as of 2020-09-30 $432,544

https://www.slideshare.net/malp2009/doc1102-quarterly-operating-report-2020-0930

$10,330 less, general business and other

[flemsnopes]

I think you're exactly right, and it does nothing to change my belief government alphabet agencies did just as much damage to FPFX shareholders as the mob - possibly even more.

[malp2009]

I would not say that I have a lot of expertise in this area, but I am aware that there is some value in acquiring a company with a NOL carryforward.

A net operating loss (NOL) is a valuable asset because it can lower a company’s future taxable income. For this reason, the IRS restricts using an acquired company simply for its NOL’s tax benefits. Section 382 of the Internal Revenue Code states that if a company with a NOL has at least a 50% ownership change, the acquiring company may use only part of the NOL in each concurrent year. However, purchasing a business with a substantial NOL may mean a larger sum of money going to the acquired company’s shareholders than if the acquired company possessed a smaller NOL.

Congress enacted section 382 to prevent trafficking in losses. The rule surrounding section 382 are quite complex, often misunderstood, and driven by unique facts and circumstances surrounding each particular company and transaction.

So, I guess, Firstplus could be sold for some value to some company because of the NOL.

But, getting the trustee to do that, seems almost impossible, to me. Note that the trustee, I believe, did nothing to claim our rewards from the items repossessed from the criminal trial. So, at this point I do not think that we are going to get anymore effort out of the trustee to create any more value for us shareholders, creditors, victims.

[flemsnopes]

malp, do you have any expertise in valuing dormant corporate shells? Would FPFX have any value due to past losses that could be carried forward or has it ceased to exist entirely?

[malp2009]

Cash as of 2020-06-30 $442,874

https://www.slideshare.net/malp2009/doc1101-quarterly-operating-report-2020-0630

[SW44]

Dan Marino’s NASCAR tenure was an example of driver development gone wrong.

Marino was winding down his Hall of Fame career with the Miami Dolphins when he started marketing with FirstPlus Financial with Team Cheever in the Indy Racing League. Marino wanted to dabble into NASCAR by helping fund Bill Elliott for a second team in 1998. With funding from FirstPlus, driver Jerry Nadeau was slated to run for Rookie of the Year with the team.

The No. 13 sported the familiar colors of teal and orange, representing the colors of the Miami Dolphins, where Marino spent his entire NFL career. The results didn’t come for Nadeau. His best finish in the No. 13 was a 21st at Pocono Raceway, failing to qualify for two events. He had food poisoning before qualifying for the spring race at Dover International Speedway and had Dennis Setzer qualify the car but the car, again, failed to qualify.

Nadeau was released before the second Pocono Raceway race. After, the No. 13 featured drivers like Wally Dallenbach Jr., Tom Hubert, Ted Musgrave and Setzer. Musgrave scored the only top 15 for the team at Phoenix Raceway with a fifth-place finish.

After 1998, FirstPlus Financial left the team and the No. 13 attempted one more race — the 1999 Daytona 500 — before folding. By then, Marino was out of NASCAR and was out of football by 2000.

[flemsnopes]

My previous post may have been confusing, so I'm revising it as follows: At least with the Mob, you know you're going to get robbed, but in our case, others were much more organized in their approach.

[flemsnopes]

At least with the Mob, you expect to be robbed. In the final analysis, they're not the most organized about it though.

[malp2009]

Status as of 4/9/20 - The end is near - No help from Mathew Orwig on Mob money.

https://www.slideshare.net/malp2009/doc1097-status-report-as-of-2020-0409

The Trustee is aware that the Trust has been designated as the recipient of certain restitution funds in a criminal matter related to this case. The Trustee has received de minimis distributions to date from the restitution order and does not anticipate receiving sufficient funds in the future to hold the case open. Accordingly, the Trustee intends to file shortly a motion seeking authority to abandon the estate’s remaining non-cash assets. The Trustee intends to file a second motion with a final accounting seeking authority to make final distributions and tax payments and to close this bankruptcy case.

[malp2009]

Cash as of 2020-03-31 $450,616

https://www.slideshare.net/malp2009/doc1098-quarterly-operating-report-2020-0331

[SW44]

This notice is to inform you that WILLIAM MAXWELL's release date has been changed. The inmate is now scheduled to be released on July 17, 2031. The inmate is not eligible for parole.

[SW44]

This notice is to inform you that NICODEMO SCARFO's release date has been changed. The inmate is now scheduled to be released on May 14, 2037. The inmate is not eligible for parole.

[jog49]

There I hope he meets up with a SW44, as in Smith & Wessom .44!

[SW44]

see my latest post for more bad news

[SW44]

This notice is to inform you that JOHN MAXWELL has been approved for placement in a Community Corrections Center (CCC), otherwise known as a halfway house, and will transfer from this institution on May 1, 2020. After the transfer, the inmate will be located at Dismas Charities Nashville in Nashville, Tennessee.

[TJude]

Got a notice from my brokerage today that shares will be cancelled.

[jog49]

John Maxwell will be released on January 2, 2023. I hope someone puts one right between the little prick's eyes on January 3, 2023 and keeps the gun handy for his brother.