Well, nobody's stepping up so I guess I'll take a swing.
I've known Lagenbach for a few years now. Spent quite a bit of time with him, got to know him pretty good. He's the kind of guy that trys to swipe the bill at lunch so you can't pay. He is generous almost to a fault. The kind of guy that looks at the world as an oyster and accepts the fact you got a crack a few open to find a pearl and you might cut yourself in the process.
I'm one of those folks you call a victim. Put a few bucks into Petro with him. You know, he told all of us from the beginning that bought from him that if Petro didn't trade that he would make sure we all got a refund. He didn't try to sell us and was upfront about the problems they had in the past with the cease and desist and what not. Wehn folks started making outlandish claims that Petro would trade at 10 or more, he told us that wasn't feasible. Well, the thing has dragged on and on and about end of March or beginning of April he told me he was done with Petro, couldn't get a straight answer out of Owen, same old 2 week dance, and he set about getting the funds together to pay us all back. Coming up with that kind of cash in this economy isn't easy.
Then some lady who's had a beef with him for years and is currently under investigation for insurance fraud herself called the ACC and they stuck their nose in this business which caused some major delays and cost him a pile of cash. So now he's got a full year to give the state money which they will most likely take a piece of and we'll get whatever is left over. He still says he's going to try to do it sooner rather than later, but the cash he spent on the attorney wasn't chump chage.
Brian was going to give us a refund and let us keep the stock in case it actually did trade some time in the future.
State is probably giving us less than what we invested and taking our stock back. So yeah, guess I'm a vitim of govt interference. Nobody asked me if I wanted the state to manage my refund.
I've met a whole lot of folks who have known him for years. He's got people he grew up with that are still friends. A guy doesn't have friends for years that continue to do biz with him if he's a crook. I also know a whole bunch of the folks, probably 50 or so who bought shares from him. None of them blame him cuz he was upfront with all of us. Most are just fed up with the KC crouwd and the nonsense coming out of that place. Others aren't even paying attention, when something happens it happens.
See, I know the story about how he got jammed up. He had an attny, thought he was doing stuff right, found out after it was done that it wasn't. Guy isn't a crook if they try to do stuff the right way but mistakes are made.
Well, that's my 2 cents since you asked.
