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WOW- Thank you for Keeping all of us up to date. I guess it is wishful thinking, with all of the money penalties. That somewhere "us" stock holders will get some money back. Since we too were scammed (victims) out of out money...
Look for the sunyich name or their dummy corporations in the Panama Papers
They should be thrown in jail
Good luck getting any money back. Hopefully the doj will get involved to give jail time. Most of the $ probably made its way offshore long ago.
Hope they get fried.
Sound like the judge has to get some more info from the ftc lawyers before she can figure out a penalty. Was supposed to be given by early August so should be an update soon.
What's the jist?
Thank you for Keeping us posted! Maybe a decade from now
we will get a letter from sec stating they have funds to return to the stock holders...
Another interesting article:
http://packerchronicle.com/uploads/39._Wanted_Dead_of_Alive_PackerChronicle_30_May_14.pdf
Yep, rolling over on the family. Finally
Exec Hit With $25M Judgment In FTC Credit Card Scam Suit
By Brian Mahoney
Law360, Washington (June 09, 2014, 6:03 PM ET) -- An executive at a company that allegedly scammed more than 1.5 million credit and debit card consumers out of $43 million has agreed to be subject to a $25 million judgment and to cooperate in an ongoing Federal Trade Commission investigation into the company.
Attorneys for the FTC filed a joint stipulation in Nevada federal court June 5 between the government and Ideal Financial Solutions Inc. executive Shawn Sunyich, who was named a defendant in an agency suit against the company.
The FTC accuses Ideal of posing as a lender to buy payday loan applications completed by consumers, only to use information from those applications to charge consumer accounts without authorization.
As part of the deal, Sunyich is enjoined from collecting a consumer's account number or a similar identifier or assisting others in collecting such information.
According to the FTC, Sunyich was the director of business development at Ideal FSI, a company subsidiary. The government claims that he signed falsified merchant account applications and legal documents on behalf of shell companies established to facilitate the scam.
Although Sunyich knew that the legal documents contained misrepresentations, he signed them nonetheless, "knowing that Ideal needed new shell companies to acquire merchant account in order to replace the accounts processed terminate for high chargeback and return rates," the FTC said.
The FTC first filed suit against Ideal in 2013. The commission said the company targeted poor consumers who had never contacted them, debiting their bank account and charging their credit cards for about $30.
When consumers complained to the company, they were told that they had purchased financial counseling or loan matching services or assistance in completing a payday loan applications.
The defendants allegedly ran more than 50 billing campaigns as part of the scheme.
Due to high return rates from consumers disputing the charges, some payment processors terminated Ideal's merchant account. To handle the increasing number of complaints, the company established call centers, but its operators told consumers that they had no information about why they were charged.
Thursday's deal required no admission of liability from Sunyich.
According to court records, Sunyich is now obligated to provide information, evidence and testimony for the FTC as part of the ongoing case.
“It is further ordered that defendant must fully cooperate with representatives of the commission in this case and in any investigation related to or associated with the transactions or the occurrences that are the subject of the complaint,” the stipulation said.
The defendants named in the original suit are Ideal, Ascot Crossing LLC, Bracknell Shore Ltd., Chandon Group LLC, Avanix LLC, Fiscal Fitness LLC, Steven Sunyich, Michael Sunyich, Christopher Sunyich, Melissa Sunyich Gardner and Kent Brown.
Representatives for Sunyich were not immediately available for comment on Monday.
Counsel information for the parties was not immediately available.
The case is Federal Trade Commission v. Ideal Financial Solutions Inc., case number 2:13-cv-00143, in the U.S. District Court for the District of Nevada.
--Editing by Andrew Park.
Exec Hit With $25M Judgment In FTC Credit Card Scam Suit
http://www.law360.com/articles/545851/exec-hit-with-25m-judgment-in-ftc-credit-card-scam-suit
Hi Chrizzy, glad you are ok and Happy Easter. If you get bored there check out the baby eagles live web cam, scroll down a little.
http://sportsmansparadiseonline.com/Decorah_Bald_Eagle_Nest.html
hello all.. just popping in to say hi to my old IFSL buds and Happy Easter.. sittin in ICU after a triple bypass :( if one of these silly little stocks were to take off, my heart can take it now... really it can :) ahhhh wouldn't that be lovely :)
IFSL SEC Suspension:
http://www.sec.gov/litigation/suspensions/2014/34-71802.pdf
Order:
http://www.sec.gov/litigation/suspensions/2014/34-71802-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2014/34-71803.pdf
January 28, 2014 - Receiver's Update
The FTC case against Defendants is proceeding and is now in the discovery phase. Absent a settlement, the case could extend indefinitely.
The Receiver continues the process of accumulating the limited assets of Receivership Entities and pursuing possible claims against third parties. It is still too early in the process to determine whether, and to what extent, there will be assets available for a consumer redress procedure for consumers victimized by Ideal.
Oh there was volume on this POS, I don't really watch it anymore except on IHUB. Freaking scam, I hope they all rot in hell.
hi Flo! hi everyone! doing good. pretty much same ole same ole.. working a lot. not trading too much.. keeping half an eye on a couple wishing they'd pop! I see we had volume today on this one..
Hey chrizzy, how you doing. Happy Thanksgiving and Merry Christmas to you and yours.
hoping you all have nice holidays Happy Thanksgiving & Merry Christmas!
October 7, 2013 - Receiver's Update
The FTC case against Defendants is proceeding and is now in the discovery phase. Absent a settlement, the case could extend well into 2014.
The Receiver continues the process of accumulating the limited assets of Receivership Entities. It is still too early in the process to determine whether, and to what extent, there will be assets available for a consumer redress procedure for consumers victimized by Ideal.
I did write to the Receiver about stock fraud etc. Never did get an answer.
I suppose it could, but I really don't know. I wouldn't touch this stock again with a 10 foot pole.
A little activity, Since this I guess is now a shell of a stock. I wonder if the shell would be sold? Shells do have value...Thoughs?
well, it was nice knowin' ya all.. maybe I'll bump into you now and again here. good luck in all your ventures!! me ~ not much for trading any more but still watching a couple to pop! Happy Holidays!
Yeah, and the peeps involved with them will get caught too.
Lol...but the kid was able to forfeit 1.8 million in cash and property... How much did the old man put offshore before he claimed a rice and beans diet?
Now don't you remember, they are so poor, they are eating rice and beans for every meal, LOL
Sunyich gets 5 years
http://www.thespectrum.com/article/20130820/NEWS01/308200016/Sunyich-sentenced-five-years
Wish they could see where all the ill gotten IFSL money went and if it helped finance the drug ring
Now if they can just throw the rest of them in jail.
Good news.
Didn't like this part though:
Both men are free from custody following financial securities filed with the court by their family members.
Got bailed out with dirty family money made off their IFSL racket...and who knows what other rackets
Suspects in pot trafficking case plead guilty
Vowell, Sunyich enter plea deals in Florida
http://www.thespectrum.com/article/20130605/NEWS01/306050014/
Who is actually buying this and why? You would think the stock would be totally worthless but it still trades just under a penney. Thoughts?
come on rock you were riding more than tails... I just remember slamming this stock so many times and then you coming in to give words of encouragement to the investors.... even when things were looking very very bad, you always had something so positive to say. Now if you read the first line of my post is "I cannot believe what a dammed fool i have been to sink so much of my hard earned money into this scam." I am clearly blaming myself, however many on this board would agree that your enduring optimism for this piece of crap stock was relentless. so please spare me your BS..! I have long moved on.. sold my 260 buck worth. Will write it off. and i would have been jumping more for joy had I sold when it was in the .40-.50. range.. but someone was saying she'll go to 2.00-3.00
I think it just the us Marshall hold on the big pot bust. Local offense and then Feds have to rehold for big offenses.
He's cooked.
DEAR FLO,I HAVE BEEN GONE FOR A WHILE ON THIS BOARD HOPING FOR A CHANGE FOR THE GOOD.I CAME DOWN HERE AN HOLY SHIT HAS HIT THE FAN.WHEN I LEFT I HAD ENOUGH SHARES TO CASH TO BUY A SACK OF POPCORN NOW IT WANT BUY THE GLUE FOR THE SACK.AFTER READING THE POST FOR LAST MONTH OR SO,ALL OUR UPPER ETCHELON ARE DRUG DEALERS.YOU THINK THEY WERE TRYING TO MAKE SOME MONEY TO BUY OUR STOCK BACK? YOU KNOW FLO I CASHED OUT OWNCE AT 5 TIMES MY INVESTMENT IN THE GOOD OLD DAYS AN TURNED AROUND AN BOUGHT IT BACK AN LOST IT ALL.THIS HAS BEEN LIKE BUYING A HOOKER AN NOT WEARING A CONDOM AN GOING BACK A WEEK LATER AN EXPECTING TO LUCK OUT AGAIN AN BAM YOU GET SHIT YOU CANT WASH OFF!!
I don't know, it doesn't say why he was arrested.
Was he arrested while out on bail?
Right now I am waiting to see the one for Paul. That will make me feel better.
Nah, just seeing that arrest made me feel better, wish I could see one for the rest of them, lol
Leave a comment on the record. It may not get recorded but it might make you feel better.
I wonder what Chad Sunyich got arrested for this time, LOL
http://florida.arrests.org/Arrests/Chad_Sunyich_12143743/
Bowie, what a fool, blaming others for your crap investment. I'm down over $35k and recouped $800.00.... and, pull up a post that says I ever pumped IFSL......I was riding on the tails of others here and supposed facts that IFSL sent out. Please don't tell me the day IFSL PPS went up that you didn't jump up and down........nuf said.....idiot
GL. You hit the nail on the head. Poker is much more profitable.
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(Quote: "Let's take a quick, high-level look at insider trading at Ideal Financial Solutions INC over the past 12 months. No shares of Ideal Financial Solutions Inc stock were sold by company insiders. Over the same time 12 months time period, 109,771 shares of Ideal Financial Solutions Inc, for a total value of $9,814 were purchased by company insiders.")
Official Form 4 filing doc: http://marketbrief.com/ifsl/4/insider-trading/2011/8/30/9005068/filing
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