gardenparty

Comments by gardenparty

Did Dominelli Study Ponzi?

Don and surfpuppy, geeez, you guys need to cut me some slack already. I never said I thought ponzi=minkow. I said it was plausible, but I also said it was food for though for the surfpup. I really have no idea. Except for summer vaca, I was gone away at college for pretty much all of the JDavid stuff I think. We used to visit my former in laws in OC during that time and I remember seeing ZZZZ best commercials on tv a few times. I think that about the time i had finished grad scholl and then moved to OC for work was about the time the whole ZZZZ best thing was starting to come apart. I remember watching a segment about it on a show called Eye On LA, but that's about it. So I really don't know much except what I' ve read about it. My apologies if I offended ponzi. That said, surfpuppies comments on sentencing made me curious, so I researched it a little. Minkow was found guilty on 54 counts of racketeering, securities fraud, embezzlement, mail fraud, tax evasion and bank fraud. He was sentenced to 25 yrs in prison and ordered to pay $25 million in restitution. He served 71/2 yrs of his sentence. In 2002 the original judgment on behalf of investors and lenders against Minkow was dismissed. His probation was also cut short as of the fall of 2002. As of 2004, Minkow's outstanding monetary debt remains with Union Bank of California, with principal and interest totalling around $19 million. Minkow pays up to 30% of his $68,500 yearly salary to the bank. Also the majority of his speaking fees and money from his book sales go towards his debt.
— November 7, 2009 10:23 a.m.