Our CEO...10 charges of unprofessional misconduct.
Our CEO made 36 unauthorized cash withdrawals from the escrow account for thousands of dollars. Used a third party to transfer funds to his daughter...that not weird right?
Joel's father is a disbarred attorney guilty of securities fraud in 1988. Like father like son.
Joel obtained a $50,000 line of credit against an escrow account that did NOT belong to him and borrowed $38,500 against it.
On March 26, 2012, $4,178.25 was electronically transferred from the checking account in the name of his daughter, Chelsea R. Schneider, at JPMorgan Chase Bank, to University at Buffalo, The State University of New York. REALLY?! College expenses?!
Between August 3, 2011, and March 6, 2012, the respondent disbursed from his escrow account: (1) approximately $48,129.70 of the $80,000 to himself, or for his own benefit; (2) approximately $17,000 of the $80,000 to Irwin Schneider; and (3) approximately $10,741 of the $80,000 for the benefit of the respondent's friend and client, Bruce Federman, all without the authorization or consent of Nick.
Joel was asked to give the court a ledger of transactions regarding the $80,000 escrow account and he failed to do so. When he was finally SUBPOENAED by the court he MADE UP a ledger to show them...(what I deduced from the court's statement)
Just what i got out of reading the post from Confuciussay. Not sure what to think after reading that document. If it is all true (which I am assuming it is) then this investment may not be quite the home run I thought it could be. MJMJ needs a different CEO!!!
AI
