Sunday, July 24, 2011


LEN CLEMENTS (shown here), has been proven correct!  The group of con men and their co-conspirators were found guilty of running a scam.  The ring leader, the "reformed ex-con," who did time for his ZZZZ Best Carpet Cleaning scam, once again convicted and sentenced to securities fraud as he and his team targeted publicly-held companies in order to enrich themselves.  Daily News Article About Barry Minkow's Scam

Len Clements exposed their agenda, which can be read here:​ocs/minkowmedialetter.docx

Barry Minkow created the San Diego-based, ironically-named, "Fraud Discovery Institute," to uncover fraud.  It appears that old Barry could have found the biggest fraud of all merely by lining his office with full-length mirrors.  But, since Barry Minkow and his "FDI" (how clever) was not trying to find fraud, but perpetrate it while cloaking himself by posing as a "fraud investigator," no mirrors were needed.  Barry Minkow spearheaded  "Team Minkow" and its conspirators, that included a hedge fund manager, another ex-con and stock-shorting supporter, Sam Antar ... as well as a paid "forensic accountant fraud-investigating" blogger, named Tracy.   In all, there appeared to be a core group of 5 who shared and perpetuated Internet buzz to shake the confidence of stock holders of the public companies they targeted, ... all in the name of "truth."   This was the background for his scam and the core players.

Of course, the attacks on the public companies came AFTER the scamsters purchased "put options" on the public company, ...essentially, buying insurance on the stock price going down.  Of course the stock price would go down if you attacked it with lies, twisted truth, unfounded accusations, and paid people for their testimonies, and blogged negative information.   And to top it off, trump up unfounded lawsuits!  What a scam!  The truth was irrelevant at worst and relative at best.  It seemed their motto was, "whatever it takes to get the stock price to go down."  This was the scam to enrich themselves.  It worked, ...for a few years anyway.    

However, this scam is called securities fraud, and it is a federal crime.   Barry Minkow was found guilty (again) and admitted to his scam against Lennar Construction ... the same tactics used against USANA Health Sciences in 2007 - 2008.   Team Minkow hurt many people, including scamming people and companies out of hundreds of millions of dollars.  His damage and fraud is so great, he may actually be the world's first "anti-billionaire."

Len Clements, as well as many others had suspected all along this was about shorting the stock, as their allegations were found to be false or twisted ...i.e., completely fabricated.  What does it take to stop a sociopathic liar and fraud-busting fraud?  LA Times Money Blog: Barry Minkow Sentenced for Securities Fraud

What of the self-proclaimed, "forensic accountant fraud investigator" and her "Fraud Files?"  Does she list the crimes and scams of Barry Minkow?  Does she list her participation?  Does she acknowledge that she knew of the fraud?  No!  She flat out denies she knew anything of the fraud!  What?  A "forensic accountant fraud investigator" not being aware of the fraud she was so complicit in perpetuating?  Like some have asked, "is she a liar or the world's worst fraud investigator?"  Imagine con men perpetrating a con?  Who would have thunk it?  Apparently, not Tracy.

Here's her denial, and the sentence that states, "Tracy Coenen only took $50,000 for her part in the Lennar caper.  The judge in the Lennar case found that Tracy Coenen and Sam Antar deleted (destroyed) emails to and from Minkow."  iInvestor Village Report about Tracy Coenen's Denial and Comments

Coenen said she knew 5 years ago (2007) when she linked up with Minkow that she was putting her reputation, and that of her one-person company, Sequence Inc., at risk.  How's that working for her now that Minkow has been sentenced for securities fraud?  Tracy Coenen Admitted her Reputation Was Linked to Barry Minkow

Why destroy evidence if you're innocent?  Why hide anything if you didn't know about the fraud?  What was Tracy's agenda?  Maybe to keep her friends and benefactors fat and happy with plenty of money rolling in by perpetuating information and disinformation on her blogs that would continue to short the stock of the companies they targeted for their scam.  

It's a sad day for America, and others around the world, when you cannot trust the "Fraud Investigators" not to be the fraud perpetrators.  It makes you wonder, what does Tracy see when SHE looks in the mirror? 

Who knew when Dr. Ladd McNamara received his medical doctorate (M.D.) in 1989, board certification in 1995, and then after retiring from the practice of medcine in December 2003 to enter the wellness arena, ...that in 2007 he would find himself caught in the middle of a twisted and well-coordinated scam to short USANA's stock, and a scam that truly had nothing to do with him at all? 

It's clear that the ONLY reason to even attack Dr. Ladd McNamara was to undermine the confidence in USANA stock holders so that Team Minkow could benefit from their greed.  Tracy was paid to participate in the scam.  She played her role well.  

When Barry Minkow gets out of prison ...again ... will he emerge reformed ... again?   People bought the lies once, ... then twice ... will he pull it off a third time?  Time will tell.

1 comment:

debra casey said...

I can no longer be silent. I'm going to speak up in defense of my friend, Dr. Ladd McNamara. He's been viciously attacked and slandered by paid bloggers. He is the one of the most generous and compassionate people I have ever known. He'...s far from perfect, and is the first to admit that; but it's painful to read lies about him and the wonderful company, USANA that he represents. It's time for the ignorance to stop. What is YOUR experience of Dr. Ladd?