Replies to post #796 on Fortress Financial Group fka FFGO

[janice shell]

That's possible. When the name came up in connection with GWGO, it was familiar to me, but I couldn't place it. Then when I saw that Stephen Lumb was the person running the company, I heard a vague bell that rang: SI.

So that brought up the stuff people have been posting about St James there. But of course they may not have all the connections. St James runs a bunch of shell companies, most of which appear to be trash. The one I found funniest was the "Dry Cleaning Collection". WTF??

Lumb appears to be shuffling "assets" from one pretty much non-existent company to another. IMO, that perhaps is what the GWGO "acquisitions" are all about.

Several of Lumb's companies have been subject to regulatory actions in the UK. Not all that low profile, either: articles about Lumb, not nice ones, have appeared in the mainstream press.

[janice shell]

Here's one example:

Lumb plum in the firing line again

The mystery surrounding STephen Lumb, the playboy chairman of ST JAMES HOLDINGS, deepens. He is already facing allegations of being a bad payer of debts, and last week investors in Hanover, a shell company controlled by Lumb, claimed he was a bad businessman, too.

Among complaints at Hanover was the allegation that he had failed to distribute the company’s assets to shareholders as he had STated in public announcements.

There’s little the 7,000 private investors could do. One, who decided to tackle Lumb directly, was threatened with legal action, and told in an e-mail that ST JAMES HOLDINGS would be taking control, so it didn’t matter anyway.

Lumb insists he is being unfairly targeted. He said: “It is success, happiness and huge wealth that counts to me. The jealous, pitiful and unsuccessful unfortunates of this world love to attempt to bring down those they envy, but they’ll never succeed.”

http://www.timesonline.co.uk/article/0,,2095-1869271,00.html