Things are pretty slow on this board now, so here's a little flash from the past.
Posted by: astrosman Date: Wednesday, November 11, 2009 9:11:04 PM
In reply to: None Post # of 73923 [Send a link via email]
The truth about the bank case is this. Paul Alonzo introduced a dredge building company in Picayune, MS to a company called Growth Fund Industries in Indianapolis, In. This company was owned by Steven Blackburn (The son of Ron). The fabricator had the dredge built and financed in with some other equipment at FNBank of Picayune. Growth Fund Agreed to make a down payment on the dredge in order for it to be moved to Louisiana. The payment was made and the dredge was moved. After it was put in operation the Blackburns never paid another dime for it, but allegedly sold it to Phoenix for over 1.5 million dollars in Phoenix Stock. Ron Blackburn just happened to be an officer of both corporations, but the fabricator had no clue he was being scammed. Once the dredge was moved, Phoenix went and filed a UCC in Louisiana. The bank had no clue the dredge was in LA and had only filed in Misssisippi. Louisiana is different from all other states in UCC law so the case may end up in court on a technicality. Basically what happened was that Alonzo and Blackburn tried to steal the equipment and keep it in Louisiana without paying for it. The bank simply wanted a payoff. Alonzo and Blackburn offered a settlement agreement to the bank and fabricator in which all parties agreed, but they never paid. Alonzo and Blackburn are crooks. Always have been. I know them very well. As shareholders you guys were never going to get a dime. They simply were printing stock, taking money and raiding the bank accounts of the companies they could convince to join the Phoenix Group.
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Posted by: astrosman Date: Thursday, November 12, 2009 1:46:01 PM
In reply to: chilar4567 who wrote msg# 73923 Post # of 73926 [Send a link via email]
I really do not know the answer to that question. I have no idea how Paul even came to know Ron in the beginning. The one thing I do know is that Paul really had no funding, or he pretended like he didnt untill he met Ron. Once Ron came into the picture money showed up. I have no clue who actually was the mastermind behind the scam. Once it was clear that they were not going to pay for the dredge the bank had no choice but to foreclose on it. They were able to do so and receieve enough money at the sheriffs sale to pay off the loan.They got the dredge on the property, forged a title for Growth Fund Industries, then sold the thing on paper to Phoenix for almost 3 times what Growth Fund was suppose to pay but never did, then transferred the title to Phoenix and filed the UCC in Louisiana. The basic question is this. If Alonzo knew the fabricator and Blackburn why would he have Blackburn middleman a dredge and sell it to Paul for over 3X the price that Paul knew Ron had agreed to buy it for. It has scam written all over it.
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Posted by: astrosman Date: Thursday, November 12, 2009 12:18:41 AM
In reply to: gandalfq01 who wrote msg# 73913 Post # of 73923 [Send a link via email]
Because I was part of the litigation in the Phoenix case against the bank and the case against EH Mitchell and I didnt want to do anything to screw it up. Paul and Caroly acquired everything they have by stealing it from people who worked for it. Thank god the Mitchell family found an attorney who finally got to the heart of all the scams that they were running. Dont fool yourself, Paul and Carolyn are not broke. Phoenix may be, but they are living well. Million dollar houses and other real estate, and there is a good chance they will hide the majority of their money, do a little time and get out and live well. The funny thing about everything is that Paul would have gotten away with it all had he not tried to Sue the Mitchell family for their land. Mitchell had no choice but to countersue knowing full well that they were throwing good money after bad. Once they sued Phoenix Reggie Laurent began to dig it all up and put the puzzle together. The court case vs Mitchell was not even close. The jury laughed at Paul and his testimony. It was obvious to everyone that he was a crook and became wealthy by stealing money from investors and would be joint venture partners. The suit against the Bank may go forward, the trustee of Phoenix will have to look at that angle to try to satisfy debt. There are people everywhere who Paul and Phoenix have stolen from and owe. My guess if it does go forward the Bank will move the case to federal court which is perfectly legaland once all the facts come out I think Phoenix will get nothing, but you never know.
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Posted by: astrosman Date: Saturday, November 14, 2009 10:42:23 AM
In reply to: fenixrizin who wrote msg# 73934 Post # of 73935 [Send a link via email]
What I wrote is exactly as it happened. The thing about it all is that Phoenix had a great lease on a very good mineral deposit that was easily accessible from Interstate 59. The property in perfectly located a close distance from New orleans and the MS Gulf Coast. Had Paul simply wanted to run an honest business he would have done very well with the right people in place, but he got into a business that he knew nothing about and his ego would never allow anybody to run it. Had he invested the money he stole into the operation and hired competant people to run it Phoenix could have made a fortune post Katrina. In 2002 large gravel was selling for $6-8 dollars per ton, by 2006 the price was at $17/ton.Paul was too consumed with trying to blame the land owner and the bank for his allegedly failing business. He decided to sue the land owner for telling the world he was a crook (which everyone in South MS and Louisiana already knew) and recover enough damages to where the land owner would have to forfeit the land to Phoenix. The land owner had no choice but to countersue for fraud which was proven in court.The lose of the dredge had no impact on Phoenix either. The dredge was put on the property in Spring of 2002 and by the fall Phoenix had quit operating it and simply had it sitting there trying to sell it. When it was sold at auction in 2004 it had not been in operation for over one and a half years. It was simply used to take pictures and put out press releases of the equipment and assests in an attempt to sell more stock.There was never any intention of Phoenix to mine gravel and sand because Paul didnt know how. Everything was for show to print and sell stock, steal the assets of other people, and make himself and Carolyn wealthy. He ruined the lives of many poeple and families along the way who thought they were operating and doing business with legitimate people.
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Posted by: astrosman Date: Tuesday, November 17, 2009 8:31:40 AM
In reply to: chilar4567 who wrote msg# 73941 Post # of 73946 [Send a link via email]
The equipment you saw running did not belong to Phoenix, it was the property of another company who Phoenix had convinced to become a joint venture partner. This company was not from the area and needless to say the relationship did not last very long. I think that company has litigation against Phoenix as well. As far as the 1,800 acres they were to acquire. That is land in Hancock County near Stennis Space Center. At the time it belonged to a company called DK Aggregates. Phoenix made a big pitch to purchase the land and DK would have sold it, but of course Phoenix wanted to buy the land with Phoenix stock. After relaizing they were never going to get cash for the land DK Aggregates decided to keep it.
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