Second Report of Receiver

[robcbrady]

Dear Former St. Chris Students:

Attached please find a PDF copy of the Second Interim Report of the Statutory Receiver to the Superior Court of New Jersey for your review.

Regards,

Robert C. Brady, Esq.
Gibbons P.C.
One Gateway Center
Newark, New Jersey 07102
rbrady@gibbonslaw.com
(973)596-4500

Counsel for Statutory Receiver
Robert M. Hanna

[Azrealist]

wow what a gold mine that these guys completely screwed up.... i knew they made crazy money... but those numbers a massive their greed flushed away a good thing... the UK campus idea was/is such a great business model... you just need someone who knows how to run it honestly... it was a long but good read.. just goes to show you that you don't need a degree of any kind to make it rich... just a little bit of business sense and the knowledge not to try and screw the people who hold all the cards (aka charter) but i guess they don't teach you that at "i think i may have taken some courses at harvard.. but not sure" sad....

[Azrealist]

wow what a gold mine that these guys completely screwed up.... i knew they made crazy money... but those numbers a massive

their greed flushed away a good thing...

the UK campus idea was/is such a great business model... you just need someone who knows how to run it honestly...

it was a long but good read..

just goes to show you that you don't need a degree of any kind to make it rich... just a little bit of business sense and the knowledge not to try and screw the people who hold all the cards (aka charter)

but i guess they don't teach you that at "i think i may have taken some courses at harvard.. but not sure" sad....

[CorporateRaider]

Wasn't the good doctor gentle enough to tell many that he was a retired Emergency Room Physician? Now, he does not recall if he sat for the USMLE. But he does recall he was never a licensed physician.

:rolleyes:

[Genossa maximillian]

Of course he can't recall taking the USMLE, because he never did. It is not if you beleive that you took them or not, such exams are so difficult you just don't forget that you took them, what a clown. Of course he can't recall taking a course here and there at Harvard, because he never did. Harvard is not a community college. Of course he can't recall a B.S. from Saba, Saba does not offer B.S., the only B.S. is his.

Nice cash cow he had, some deal he got, some deal.


At the end, one truth prevails.

[CorporateRaider]

That's the point. It goes without saying. It's nice to tell old "war" stories of being an E.R. Doctor..........except when it comes time to pay the fiddler.

:D

An opinion is that PL is in hot water........holding yourself out to be a MD when you are not is a potential criminal offense.

Where are the cheerleaders now when PL needs them.

[azskeptic]

Of course he can't recall taking the USMLE, because he never did. It is not if you beleive that you took them or not, such exams are so difficult you just don't forget that you took them, what a clown. Of course he can't recall taking a course here and there at Harvard, because he never did. Harvard is not a community college. Of course he can't recall a B.S. from Saba, Saba does not offer B.S., the only B.S. is his.

Nice cash cow he had, some deal he got, some deal.


At the end, one truth prevails.

I remember telling people about this a few years ago but I can't remember exactly what people said.......except disbelief. Dean

[Milrinone]

So... what is going to happen now?
will they have to pay the $$$$ spent
what about the school?
Genossa M: I like your way of thinking, how do you see things now?

[CorporateRaider]

An opinion, not legal advice.


Well, if my son/daughter went to a school that held itself out as something that as the events have unfolded leads to dubious conclusions, I would initiate a criminal suit against all of the prinicipals, management and shareholders of each and every corporation. Questions on my mind as a parent would be: (i) Was this school aware of the internal problems and when did the awareness develop. In this mental exercise example, the shareholders knew that none of the parties involved would be able to reach an agreement, instead as it would appear, each side pulled and pulled until the "sheet" was ripped into pieces.
The College was able to generate income of over $30 million U.S. dollars according to certain documentation that might be related to a former school in England. It might be reasonable to commence a hypothesis/speculation that the potential shareholders or the probable beneficiaries of the alleged profits from the $30 million U.S., over the 26 month period was probably heathly, thus, it might have allowed them/they/he/she/it to buy a Mercedes or four or some other nice properties. But who knows, right?
It was written elsewhere that maybe a DC-3 or someother aircraft was purchased and it seems like a familiar name was mentioned in connection with that transaction. Maybe the E.R. doc was going to train as a pilot.
Lets just pretend here for a second that you meet an idividual that holds himself out to be something other than he or she really is, and this influences you to make a decision that you otherwise might not have......we have the building blocks of a nasty word called fraud. Not fraud yet, I think, I mean I see it in the movies all the time, but at least it's something to look at, while watching reruns of J.A.G.

[Genossa maximillian]

"Lets just pretend here for a second that you meet an idividual that holds himself out to be something other than he or she really is, and this influences you to make a decision that you otherwise might not have......we have the building blocks of a nasty word called fraud."

I couldn't say it better myself. Milrinone, I see things ugly for PL and his ex-wife, very ugly. There are serious charges here, more serious than he can imagine or play down.



An opinion, not legal advice.
Well, if my son/daughter went to a school that held itself out as something that as the events have unfolded leads to dubious conclusions, I would initiate a criminal suit against all of the prinicipals, management and shareholders of each and every corporation. Questions on my mind as a parent would be: (i) Was this school aware of the internal problems and when did the awareness develop. In this mental exercise example, the shareholders knew that none of the parties involved would be able to reach an agreement, instead as it would appear, each side pulled and pulled until the "sheet" was ripped into pieces.
The College was able to generate income of over $30 million U.S. dollars according to certain documentation that might be related to a former school in England. It might be reasonable to commence a hypothesis/speculation that the potential shareholders or the probable beneficiaries of the alleged profits from the $30 million U.S., over the 26 month period was probably heathly, thus, it might have allowed them/they/he/she/it to buy a Mercedes or four or some other nice properties. But who knows, right?
It was written elsewhere that maybe a DC-3 or someother aircraft was purchased and it seems like a familiar name was mentioned in connection with that transaction. Maybe the E.R. doc was going to train as a pilot.
Lets just pretend here for a second that you meet an idividual that holds himself out to be something other than he or she really is, and this influences you to make a decision that you otherwise might not have......we have the building blocks of a nasty word called fraud. Not fraud yet, I think, I mean I see it in the movies all the time, but at least it's something to look at, while watching reruns of J.A.G.

[Milrinone]

Genossa M: What about FS? Is he in trouble? I read the investigation an it seems that he has taken LOTS of money also!
It is very Shamefull, and very sad to see how these people played with the student's money.

[YBosc]

WOW! things don't look good. I hope they all pay for the mess

[gambino]

From my experience of talking to one student who had dealings with FS, he is just as bad if not worse than PL. He double charged tuition to students -- claiming that as bursar of the old school he had nothing to do with anything PL did (yet as the Receiver's report suggests, still kept the profits from that) and then he needs money for the "new school" SCIMD registered in HIS name. He was able to con over a dozen kids using this canard before the Sengalese forced him out. Even now he is withholding releasing transcripts and financial records of some recent graduates so as to pressurize the students to do his bidding.

All of this while working to secure a new charter and trying to build a new school which he will own in the Bahamas.

Sites like VMD should be vigilant in working to expose this.

regards,
g

Genossa M: What about FS? Is he in trouble? I read the investigation an it seems that he has taken LOTS of money also!
It is very Shamefull, and very sad to see how these people played with the student's money.