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Amazing public letter from former CEO!

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flemsnopes   Saturday, 04/11/09 07:44:55 AM
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Amazing public letter from former CEO!

From: John Maxwell
Date: Thu, Apr 9, 2009 at 10:07 PM

This went out to more than 100 television stations, newspapers and government agencies with oversight today as well as the managing directors at Patton Boggs. Since it is in the public domain you can forward it to any shareholders that you might be able to contact.


1. The inappropriate and illegal acts perpetrated upon the shareholders of FirstPlus Financial Group, Inc. (FPFX) by an Assistant US Attorney (Steven D’Aguanno)with the help of an FBI agent (Joe Gilson), and a leading Dallas law firm (Patton Boggs, LLC) have made them all parties to this massive fraud.
2. Patton Boggs, LLC called the Assistant US Attorney (Steven D”Aguanno)and asked him to intercede after my CFO (William Handley) and I (John Maxwell)CEO signed truthful, lawful affidavits for litigation in which we had an intimate and appropriate knowledge of the facts contained therein. These affidavits, correspondence and documents were for ongoing litigation in Pennsylvania, California and Texas. William Handley was contacted by phone the following day and informed that since he had signed these lawful, truthful documents, he was now a target of the investigation and would receive a target letter, which he did. I received the same letter as well as messages that sought to intimidate me into lying, omitting or changing my testimony.
3. Patton Boggs LLC has conspired with Robert O’Neal, Jack Roubinek, Gary Alexander, William Todd Hickman, Paul Ballard and John Hall to defraud the shareholders of The Company. The law firm and the individuals mentioned above have used the Assistant US Attorney (Steven D”Aguanno) and the FBI (Joe Gilson)as their “muscle” to intimidate witnesses, obstruct justice and manipulate the justice system.
4. Patton Boggs LLC has been provided written information about most of the individuals named above. These individuals have stolen from The Company, lied to the Board of Directors, ignored SEC law, ignored Sarbanes Oxley oversight, ignored proper Corporate Governance, ignored The Company By Laws and moved the company down a path that is both illegal and improper under the most liberal of interpretations.
5. Patton Boggs LLC was notified in writing to hold all company money in their IOLTA until such time as the full Board of Directors could vote on the release of said funds. This was not done. In the very least if a Board member raises a question about monies being held in an IOLTA account, a law firm acting in good conscience would tender the money in question to the court or hold it until such time as proper ownership could be determined. Several law firms have stated that Patton Boggs LLC has opened their firm up to possible claims by not acting prudently of behalf of the shareholders and on behalf of the Board of Directors.

6. I provided Patton Boggs LLC with a copy of Jack Roubinek’s Criminal History, which would have prevented him from being on the Board of Directors, because of improper disclosure to the SEC. Additionally he had been presenting himself as the CEO prior to such time as he was authorized by the SEC.
7. I provided Patton Boggs LLC a copy of the company press release that came about as a result of the Settlement Agreement in which Jack Roubinek was forced to resign from the Board of Directors as a condition of the Settlement in the shareholder suit. With the blessing of the FBI (Joe Gilson) and US Attorney (Steven D’Aguanno) regulations and requirements have been ignored. Jack Roubinek told me that as long as the US Attorney, Steven D’Aguanno agreed with them all of this could be ignored.
8. I have provided Patton Boggs LLC with information about a loan proposed and approved on their recommendation, that was not needed by the company. This loan included the transfer of 12,000,000 shares of Firstplus Financial Group, Inc. common stock to Robert O’Neal. The needed funds were sitting in the IOLTA of Patton Boggs LLC. Additionally the total shares that Robert O’Neal would receive would be 24,000,000 shares of common stock as a result of credit enhancement. Under proper procedures these shares would have to be 144 stock or would have to be the result of a Private Placement Memorandum or have shareholder approval. None of this was done as the US Attorney (Steven D’Aguanno) and the FBI (Joe Gilson) are allowing Robert O’Neal to act with impunity. Both Mr. Handley and I furiously objected to the loan based on the grounds stated above, however the other “insider” board members voted to approve another illegal act. None of these objections were reflected in the Board Minutes for any of the shareholders to see.
9. I informed Patton Boggs LLC in writing about the self dealing of Robert O’Neal and Jack Roubinek in trying to put forth a mortgage company to be owned by Jack Roubinek and Robert O’Neal, both insiders, who would then negotiate on behalf of FirstPlus Financial Group, Inc and the mortgage company, American Eagle. The mortgage company would be funded by Firstplus Financial Group, Inc. In an attempt to conceal from shareholders the pay structure of Jack Roubinek’s package, he would be paid by American Eagle, but funded by Firstplus Financial Group, Inc.
10. In late 2008 Jack Roubinek was under a TRO from the Texas Department of Lending from being involved with a mortgage company of any type.
11. I informed Patton Boggs LLC that their inability to follow even the most basic of ethical behavior had put them in a position of uncertainty. A Board of Director member has the right to request financial documents, contracts, letters of engagement and on and on from corporate counsel. Patton Boggs LLC has refused to respond even to the most elementary of requests for information. Robert O’Neal is the only one who has the authority to direct them to respond. I have informed them that by their actions they have indicated that they are working for Robert O’Neal and not the company.
12. For the longest time Patton Boggs LLC has not communicated with the Board outside of Rober O’Neal, to the exclusion of the other Board of Director members (based on statements made by Jack Roubinek and through my own observations)
13. Patton Boggs LLC has sat idly by as the company has numerous individuals in straw positions who have had (until recently)no area of responsibility and only a Title. Jack Roubinek told me that he did not have the authority to “buy a pencil” unless he got the ok from Robert O’Neal. He also stated that no one had seen any financials, had the ability to speak to Robert O’Neal except through Patton Boggs LLC. He further described a feudal enterprise, where Robert O’Neal played the role of all the employees although he did not hold the titles, made all the decisions, replaced the Board of Directors, and even ignored contracts that he had had his own attorneys draw.
14. Robert O’Neal has acted as the borrower and the lender at the company in violation of the SEC, Sorbanes Oxley and the Corporate By Laws.
15. Robert O’Neal has unlawfully enriched himself and transferred ownership of the company from the shareholders to himself through self dealing contracts, manipulation and fraud.
16. During my meetings with Jack Roubinek, he stated that the head of the White Collar crimes division of the FBI in Dallas, Texas was a long time friend. He also stated that he would have immunity with her intercession on his behalf and that Robert O’Neal was acting with impunity as he had the blessing of the United States Attorney, Steven D’Aguanno. Jack Roubinek made these statements as he indicated that he had given her insider tips to buy stock on which she had done “quite well.”
17. I informed Patton Boggs LLC that after checking with our Public Auditor and our Sarbanes Oxley Consultant that it would be absolutely inappropriate for a second loan to be approved as Robert O’Neal had never provided the Board of Directors nor any of its officers any report as to how the first loan had been spent. Since Robert O’Neal had written all checks and approved all payments, contrary to the By Laws, SEC and Sarbanes Oxley, he is the only one who had access to the information about the loans that he did not disclose that to anyone. Additionally in our January 30, 2009 Board of Directors meeting we had vigorously opposed the loan on the grounds listed above.
18. Patton Boggs LLC, the FBI (Joe Gilson) and the US Attorney’s Office of New Jersey (Steven D’Aguanno) wish The Company and its Board of Directors to approve a loan made by an INSIDER (Robert O’Neal) to The Company, which calls for an interest rate of Prime plus 3 and a credit enhancement bump of 24,000,000 shares (12,000,000 on each of two loans) which was approved by some of the Board of Directors and signed by the CFO, William Handley. At the same time these same parties wish to discredit Mr. Handley, CFO, for signing another loan to a party who was not an INSIDER for a 7% interest rate and no credit enhancement bump. This would lead an outsider to extrapolate that unless you are an INSIDER you are only allowed conscionable, normal, usual and customary rates expected. Additionally on the INSIDER LOAN, the monies were repaid to the INSIDER (ROBERT O‘NEAL), prior to paying the IRS and other preferred creditors, thereby putting the company and its shareholders in jeopardy.
I may be reached at 214 295-6263

I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
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