Dan/Biz, fwiw, I don't think FG was ever an employee of SEVU. It's hard to believe anything he says, but if we piece together a couple of stories, we may be able to figure out the truth. Rich told me that he (Rich) didn't closely watch the message boards, but that FG contacted him anytime there was anything of interest. Rich made it sound like it was annoying, and initiated by FG, but regardless, there was clearly communication there. Neither FG or Rich ever told me or implied that FG worked for SEVU, and I believe Rich flat out denied it when asked here on the board. It's also unlikely that FG could have added any value as an employee while living in the Caymans, except perhaps STAYING in the Caymans.
There was clearly some relationship between Rich and FG, as both admitted to communicating with each other, although it doesn't appear to be nearly as tight as FG would have us believe. FG claims to have purchased 180K shares at $2.00 during the 1999/2000 Debenture offering. He also claims to have had dinner with Rich and Jennifer the night of the first Shareholders Meeting (1/22/00). Personally, I find the dinner claim very suspect, as the evening started with an Open House (5:00p?), and ended rather late. The meeting started late, and they were clearly not as prepared as they should have been, so I find it hard to believe they took the time for dinner before the event. I suppose it's possible they went out to eat after the meeting, but while I have no contrary proof, I sincerely doubt it.
FG's claim to have purchased debenture shares for $2.00 is also suspect. If he had such a tight relationship with Rich, and he was closely enough involved to have had dinner with him the night of the SH Meeting, why did he pay $2.00/share, rather than fifty cents like the rest of those attending the SH Meeting?
Lots of things don't add up. Rich made a number of bad decisions, but he appeared to be focused on the success of his company. Rich would have no reason to tie himself to FG. Francis, on the other hand, spends countless hours posting on message boards, trying desperately to make people believe stories that invariably turn out false. If FG was as close to SEVU as he claimed, he would have known of the problems long before they were reported to the SEC.
