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Who do you think I am? LOL
You have caused your own demise....
It's a bed that will always have bugs so don't get too comfy.
Mr. Intimidation....
This is the "M.O." of a desperate man.
Who would listen to his rhetoric?
Don't stop fighting for what is yours.
While all of this is going on, he's busy changing his "Adopt-A-Highway" sign @
exit 39 in Roslyn, to is new company name.....
At this point they may as well use peel off, easy to change letters...
"DealFlow Media got the PwC liquidator on the record to say he’ll be looking into the legitimacy of the fees Ribotsky/NIR took while the funds were gated. This was something Ian Stokoe hinted he’d do when I first reported PwC was taking over the offshore fund this summer. So it will be important to watch if Ian follows through or is throwing out ‘friendly PR quotes.”
Investors should head down to the Ritz in Puerto Rico today
and pull up a chair on the beach with Ribotsky to discuss the fund.
He seems to be soaking up the sun....guilt free...for the past week. lol
That was some PWC meeting today with investors!
The investors all exchanged contact information and are banding together.
This was an angry crowd!
CORRECTION! CR has taken in $52 million in fees since the 2008 lock-up of the fund.
Half from NIR and the other half from CR's First Street.
$14 million of investor money for legal bills.
Where is all that money?............
NIR has spent $14 million in legal fees, and has taken over $24 milllion in fees, all since the fund has been locked up in 2008.
This happened all the while investors couldn't get a penny of their money.
This is why CR only cares that he's in a civil matter with the S.E.C. .....As long as it's only money and no striped clothing he's happy.
That's all he cares about....
Looks like "G-Ribotsky" is up to his fake web blog again....
Here we go again with his twisted views
coming from his pseudo website based out of
Roslyn NY.
"Corey Ribotsky pigged out on fees"
Posted by Teri Buhl at
www.teribuhl.com/tag/corey-ribotsky/
NIR Group’s court appointed liquidators, PricewaterhouseCoopers, has discovered Corey Ribotsky pigged out on fees while hundreds of mom and pop investors had their pension investments frozen. I reported this week for Long Island Business News, Ribotsky’s hometown paper, that the alleged hedgie fraudster is set to reap a whopping $52 million in fees. On top of that he had to resign from the fund after PwC and a group of US investors pressured him to quit after they realized the broker dealer market won’t do business with him because of reputation risk and his ‘management’ skills were not effective any longer.
There is a ton of detail on how investor cash was used while the funds were gated since late 2008 in the LIBN story so click here to read it. I will note that Ribotsky’s pressman Brad Gerstman told me this week Ribotsky has always told investors he reinvested his fees into the fund. But the PwC cash flow report shows only $300,000 was invested since November 2008. Hummm something doesn’t add up.
The staggering amount of fees is not the only thing PwC found when they were given access to NIR’s books. According to a Dec 15th letter, the liquidator also told some investors that funds were comingled. You see in Ribotsky’s view, although he sold investors into separate onshore and offshore funds, all their money was one big pot to do what he wanted with.
Ian Stokoe of PwC wrote, “In practical terms, NIR confirmed that while each Fund held one or more bank accounts, cash was routinely allocated from the various bank accounts to which ever entity needed it at the time to discharge liabilities.”
The FBI’s Mike Ryan has been interviewing NIR investors for over two years now, and while investors say it was a relief to see the SEC finally sue Ribotsky for investor fraud, they simple don’t get why the Feds didn’t step in earlier and prevent the cash bleed from what appears to be needless fees on inflated assets.
Sounds like NIRStickler is back....I mean Formernirguy....I mean Corey....lol
Does he really want us to believe that there's a former employee that will defend him?
Quite the opposite... Former employees are desperately trying to erase the stain on their
careers at NIR.
This is 100% true. A letter has been sent and received by all investors, saying that Ribotsky
has resigned.
He's busy trying to get a new business off the ground, out of the same office in Roslyn.
Rumors are that he is crowing about the charges "only" being civil.
Maybe this isn't the right time and place to hang a new shingle....lol
Here's a comment I found on Teri Buhl's blog......
"Allan Shaffer says:
December 9, 2011 at 1:06 pm
Can you please look into the NIR payment arrangement with the Itronics settlement.
I think you’ll be startled at what you uncover.
In a nutshell, Itronics has been committing fraud on multiple levels. They agreed to settle with NIR for $8M+ payable in shares or cash. The company has zero cash yet they only added about $600k worth of shares to their outstanding share count since the May 4, 2011 payout commencement date. This means NIR is being paid in something other than just shares. It’s widely speculated that ITRO is grossly understating revenues and selling silver off the books to pay this settlement or some other nefarious scheme. Perhaps they have a deal with silver? Nobody knows for sure but I’d bet my bottom dollar that NIR is receiving dirty money from ITRO and may very well be complicit in the scheme. I’ve commented about this a few times on the NIR IHUB board but my posts keep getting deleted by the ITRO board moderators who are closely watching the NIR board. They complain to IHUB admin and had me banned from the site.
Nobody is talking about this ITRO arrangement but several of us have a strong feeling it’s important and just more ammunition against this POS. PLEASE look into it.
Thank you."
Ribotsky resigns! Fact!
Our friend Mr. Ribotsky has utilized his own website
"G-Investor" to send his messages. Yesterday, he sent the following message about his current situation.
The information that he has resigned is fact and can be verified.
Here is the twisted "G-Investor" email that he just sent out:
From: G Investor <ginvestor7@gmail.com>
Date: Tue, 29 Nov 2011 14:27:28 -0500
Subject:
So, What now?
If rumors are true, then we would all be someplace different, but news on the street says our friends at NIR have decided to hang up their fund managing hat.
News of the switch is sure to hit the street soon or be plastered all over Teri Buhl’s blog. She may even take credit for it.
But let’s say she was partially responsible? So? What now? What will become of the liquidation of the fund’s under NIR’s tutelage and what is to become of investor capital? Surely there was none other than Ribotsky himself that was more focused on getting his and his client’s money out of the fund, so why make it so hard for him to do so?
Have the investors who forced the issue made it harder on themselves? Doesn’t this now put Ribotsky right along side them as an angry investor or creditor with a lot to gain or lose? Is that a smart idea? Let’s take the guy who helped build the portfolio we are trying to sell or liquidate and let’s kick him to the curb. Does that make sense?
Investors who have spoken to several sources are not so sure. They feel the NIR folks have gotten a raw deal and that this was all designed by former disgruntled management to cover their own fraud by making sure NIR and specifically Ribotsky was out of business.
Those investors are now concerned that their ability to see the light at the end of the tunnel just packed up his desk and went home. Not that this was his idea sources say, but he wants what’s best for all as one person close to the situation put it. If this is what some want, who is anyone to argue. But it defies logical behavior.
Time will tell whether it is good for the investors or not, but some sources believe it is the death knell for their value. The once great pioneer of PIPE investment structure is now gone for those investor’s to rely on.
So we ask again……What now? ? ? ?
Ribotsky resigns as manager for NIR Group.
Detail on Ribotsky "Valet" Rage incident.
As reported by an investigative reporter.
Excerpt:
"The information I uncovered for the story appears to set off NIR founder Corey Ribotsky because I just confirmed with the Nassau County 6th district police that a parking valet at NIR’s Roslyn office, on 1044 Northern Blvd, called the police saying he was being threaten by a building occupant. The call came in at 3:47 pm and a person at the scene said the occupant was Corey Ribotsky. It appears by the time the cops got there no police action was needed and the Nassau Police public affairs officer confirmed no charges were filed–but clearly something set Ribotsky off."
"NIR Doesn't Have Access to Dealer Market"
http://www.teribuhl.com/2011/11/23/pwc-says-nir-group-doesnt-have-access-to-dealer-market/
"NIR Group hasn’t had access to the broker dealer market since February. I reported this nugget of news last week for DealFlow’s The PIPEs Report after investors in the AJW Funds explained this is what court appointed Cayman Islands liquidator, PwC, is now telling them.
If NIR founder, Corey Ribotsky, knew clearing firms and broker dealers wouldn’t sell the hedge fund’s penny stock investments back in February then why didn’t he tell onshore or offshore investors this when he notified them the funds were going into liquidation at the end of March? NIR Group letters show the fund was asking investors to keep Ribotsky-owned First Street as the collateral manager during the liquidation. But if the market wasn’t willing to work with Ribotsky then how could he execute (and get paid fees) the liquidation strategy, which calls for converting the defaulting loans in the AJW funds to stock and selling them on the OTC market to get cash back for investors?
In early October, two people who had spoken with NIR managing director Bobby Cohen said he was telling possible buyers of NIR Group notes that the fund can’t legally convert right now. The SEC confirmed for me they’ve placed no restriction on NIR’s ability to convert or sell stock. So I ran Cohen’s statement by the NIR’s outside attorney Brad Gerstman who said that’s not true and insisted NIR was selling notes for minimal cash down because that was the best liquidation strategy to maximize value for investors. Yet, a month latter I see emails from PwC detailing a very different story. When I brought this to Gerstman attention he was tongue tied, said he’d get back to me with a response, and then never followed up. Meaning either NIR misled their attorney or Gerstman went on the record with a statement that didn’t explain what was really going on with NIR’s ability to liquidate fund assets.
If you want to understand why the market is shunning NIR Group you can buy the DealFlow story here.
While many investors are frustrated with the lack of transparency from NIR Group, offshore investors scored a small win in the last few weeks. Ian Stokoe, the PwC joint liquidator for AJW offshore II and Master Fund II told me yesterday PwC has now obtained liquidator control of the original Master Fund and AJW offshore I. I’d previously reported for DealFlow that PwC could have problems selling assets in Master Fund II because the assets had not been properly transferred from the first Master Fund to the 2008 restructured Master Fund II. Legal filings in the Cayman Islands show the old funds were voluntary assigned to PWC and not court appointed. This means the assignee, Ribotsky, could also take back control of the fund if PwC does something with the notes that Ribotsky doesn’t like. Investors in the AJW funds have said Ribotsky controls the majority voting rights of the Master Fund after he reinvested fees earned during the funds go-go years. Fees the SEC lawsuit alleged were obtained by Ribotsky lying to investors about the value of the assets in the fund.
Ribotsky is still the legal liquidator for the AJW onshore funds; funds that are packed with main street investors who got into the fund through an IRA or a broker selling the NIR Group investment idea for the firm. Jim Nail, a former professional money manager and investor in the AJW Onshore fund has posted a call out to fellow onshore investors asking to group together, like the offshore investors did, and take legal action to get a New York court to assign an independent liquidator or trustee."
-Teri Buhl
Big money being spent on a 4 hour party tonight.....
Ribotsky having his last hoorah!
Why remove the Ribotsky Bat-Mitzvah posting?
There's a lot of money being spent.
Police called on Ribotsky!
Seems that he lost his temper and went ballistic with the Valet Parking attendants at his office building, at 1044 Northern Boulevard in Roslyn.
Our friends in the Nassau County Police Dept. have put this information on their blotter.
Can you guess who's having a breakdown and falling to pieces?
Happy Birthday Ribotsky.
Today is Corey Ribotsky's birthday and he can celebrate
the wonderful year that has past... and the terrific year that lies ahead.
Keep up the good work O'l boy. Helluva job.
Cheers!
Ribotsky turns 41 on Saturday, October 29th.
What will he be celebrating??? Will he be? hmmmmmm
Stay tuned.
Fat:
adj
1 beefy (informal) broad in the beam (informal) corpulent, elephantine, fleshy, gross, heavy, obese, overweight, plump, podgy, portly, roly-poly, rotund, solid, stout, tubby
2 adipose, fatty, greasy, lipid, oily,
Guess who's on the cover of "Craine's NEW YORK" today?
You guessed it.
Headline: "FEDS SAY HEDGE FUND STAR MADE IT UP"
The "political strategist" has sub-let office space from Ribotsky for years.
Now the guy has egg on his face.
Just saw him skipping down the avenue! lol
That's his girlfriend...the one he cheated with.
She's fighting for her meal ticket.
They sub-lease space in the NIR offices.
God knows they need to spend all their time at NIR.
RIBOTSKY CHARGED BY S.E.C.!
You do realize that the only reason CR was on the radio show was because David Schwartz is his sub-tenant, in the NIR offices, in Roslyn.
You scratch my back and I will scratch yours.......Ha!