Mendelssohn_IHB
New member
Thank you. IrvineCommuter.
I am sending the information out right away.
I am sending the information out right away.
Kazak needs help!
- Thread starter Mendelssohn_IHB
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Mendelssohn_IHB
New member
Phony business adventures, investments, real estate transactions, political fundraising,..etc. Two of the known victims on the list are real estate agents and one is a CEO of a Taiwanese pharmaceutical co. The con man had an accomplice and they both used so many alias I would not know which one to name. His websites look legit to me because his legal counsel is a big international law firm.
Kazak's brother and his wife met the con man at an Irvine republican party fundraising event. The brother refused to say exactly how they got conned, he said it was so stupid he rather not to talk about it. They talked to an attorney a year ago, one hour consultation cost them more than $500 and all they were given was the man's criminal record. Oh, and they were told that they would never get their money back. The best they could do was just to get the man jailed.
Kazak's brother and his wife met the con man at an Irvine republican party fundraising event. The brother refused to say exactly how they got conned, he said it was so stupid he rather not to talk about it. They talked to an attorney a year ago, one hour consultation cost them more than $500 and all they were given was the man's criminal record. Oh, and they were told that they would never get their money back. The best they could do was just to get the man jailed.
IrvineCommuter_IHB
New member
<p>Restraining from commenting about Republicans. . .so hard . . . (J/K. . .politicians are all pretty much the same.)</p>
<p>Mendel, I would have the brother talk to another attorney, a 2nd opinion never hurts. It is odd that the first attorney charged for consultation. Most attorneys do not charge for the first meeting (we are like drugs, the first one is generally free).</p>
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<p>Mendel, I would have the brother talk to another attorney, a 2nd opinion never hurts. It is odd that the first attorney charged for consultation. Most attorneys do not charge for the first meeting (we are like drugs, the first one is generally free).</p>
<p> </p>
fumbling_IHB
New member
Hope not to offend any lawyers here, but most lawyers suck your money away faster than con men...and Mendelsohnn, it was also a lawyer who suggested the hare-brained idea that started this topic in the first place, of having the younger brother get 1/2 interest in a declining asset and paying property taxes, etc. for the privilege of getting into a depreciating asset. It's a good idea to ask your independent financial advisors what they think about the lawyer's idea.
IrvineCommuter_IHB
New member
<p>I would fight that remark if half the attorneys that I deal with were not so bad </p>
<p>I do have to say that there are plenty of good attorneys out there who are honest (shock) and do good work. It is no different than any other profession (I have gone through my share of mechanics, doctors, and dentists). The one who get referred by the local bar are generally honest because the county bar pulls them off the referral list if they get complaints. </p>
<p>Besides, the financial adviser is not going help the brother with the fraud issue. </p>
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<p>I do have to say that there are plenty of good attorneys out there who are honest (shock) and do good work. It is no different than any other profession (I have gone through my share of mechanics, doctors, and dentists). The one who get referred by the local bar are generally honest because the county bar pulls them off the referral list if they get complaints. </p>
<p>Besides, the financial adviser is not going help the brother with the fraud issue. </p>
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awgee_IHB
New member
IC - I tend to agree with your assessment of the ratio of good/bad attorneys and other professions and occupations. I think maybe much of the reason lawyers get such a bad rap is that when we go to see a lawyer, we feel like we are at their mercy. It is usually at a bad time, and under extreme circumstances and we need to trust attorney and so many times we are let down. I wish attorneys would understand this and behave with integrity instead of advantage. But, I guess they are just human and realistically can not be expected to behave any differently than everyone else.
acpme_IHB
New member
also i think that for the problems people go see a lawyer for, more often than not, there's not much that can be done -- whether the client themselves were partially to blame or it was simply a tough break with little remedy, such as kazak's situation. but we go to the lawyer expecting they will get our money back, punish our enemies, and make the problems disappear.
back to the original topic for a moment -- its hard to tell from mendelsohn's initial post whether kazak is independently wealthy or not. kazak and his wife have temporary jobs just to pay daily expenses. that could mean they're just scrapping by, or it could imply they have substantial wealth stashed away and just took easy jobs to pass the time and pay a few bills. <strong>in any case the best advice to give them is probably to stop living above their means. </strong> this is not an atypical story for recent immigrants who come across some money. it's great that his father left him 500k and thats a lot of money for anyone, let alone recent immigrants. i dont know much about kazakhstan -- maybe thats enough money to last a lifetime there, but over here, an annual income of that amount would barely be enough to support his brother's mortgage and other debts. that's not even a fraction of the wealth required to become an accredited investor in any legitimate alternative investment like private equity or hedge funds, let alone enough wealth to be attending political fundraisers and giving money for dubious investments (even within the family.) if he wants to feel like a big shot, go take the wife to south coast and splurge a few thousand on some flashy clothes. then take the rest of the money, stick it in some mutual funds and act as if the money doesnt exist. maybe hopefully they'll have enough for their latter years but somehow, with all the potentially bad influences around them, i fear this story ending sadly.
back to the original topic for a moment -- its hard to tell from mendelsohn's initial post whether kazak is independently wealthy or not. kazak and his wife have temporary jobs just to pay daily expenses. that could mean they're just scrapping by, or it could imply they have substantial wealth stashed away and just took easy jobs to pass the time and pay a few bills. <strong>in any case the best advice to give them is probably to stop living above their means. </strong> this is not an atypical story for recent immigrants who come across some money. it's great that his father left him 500k and thats a lot of money for anyone, let alone recent immigrants. i dont know much about kazakhstan -- maybe thats enough money to last a lifetime there, but over here, an annual income of that amount would barely be enough to support his brother's mortgage and other debts. that's not even a fraction of the wealth required to become an accredited investor in any legitimate alternative investment like private equity or hedge funds, let alone enough wealth to be attending political fundraisers and giving money for dubious investments (even within the family.) if he wants to feel like a big shot, go take the wife to south coast and splurge a few thousand on some flashy clothes. then take the rest of the money, stick it in some mutual funds and act as if the money doesnt exist. maybe hopefully they'll have enough for their latter years but somehow, with all the potentially bad influences around them, i fear this story ending sadly.
reason_IHB
New member
<p>Mendel,</p>
<p>Regarding the alleged scam. I forgot the guy's name but he was a major contributor to Hillary Clinton. Are we referring to this fellow? </p>
<p>Regarding the alleged scam. I forgot the guy's name but he was a major contributor to Hillary Clinton. Are we referring to this fellow? </p>
Mendelssohn_IHB
New member
reason,
Funny that was the first thing I asked too. But no, it is not Norman Hsu. I heard in socal, Norman Hsu was known as Peter in Chinese Community. So, beware of people with multiple names.
fumbling,
The attorney suggested giving 1/2 ownership of house was their immigration attorney, who is said to be a nice guy, and he also found Kazak a job in LA. The attorney seemed to think that 1/2 mil for 1/2 ownership of a 1.3 million house was a fair deal. Kazak's brother also had a hard time believing his house may not worth 1.3 anymore. He said he had confidence about Irvine...
Kazak could live in luxury in his home country. But to people back home, having a US green card means more than simply being rich, they say. He and his wife are young and they just want to see if they can make it in the US. They drive a used Camry given by his brother and they rent a "back yard house" in San Gabriel. They were told about CA high living expense before they came. They knew their money would not last long if they were not careful. Having temp jobs provide supplemental income so they don't drain up the money they have in the US too fast. They have only been here for a couple months.
IrvineCommuter,
The information you provided is greatly appreciated from the group of fraud victims. They are hoping to find attorneys who will work on contingency. So far some of them who had talked with an attorney all said they were charged more than $450 an hour the first session.
I got the feelings you will be hearing something about this case soon. Hopefully, police and news media will take these people seriously. I am sorry to say this, but these people are quite wimpy and skeptical. They have lost a combined of several millions to this guy and they just keep "waiting for someone to speak out first."
Funny that was the first thing I asked too. But no, it is not Norman Hsu. I heard in socal, Norman Hsu was known as Peter in Chinese Community. So, beware of people with multiple names.
fumbling,
The attorney suggested giving 1/2 ownership of house was their immigration attorney, who is said to be a nice guy, and he also found Kazak a job in LA. The attorney seemed to think that 1/2 mil for 1/2 ownership of a 1.3 million house was a fair deal. Kazak's brother also had a hard time believing his house may not worth 1.3 anymore. He said he had confidence about Irvine...
Kazak could live in luxury in his home country. But to people back home, having a US green card means more than simply being rich, they say. He and his wife are young and they just want to see if they can make it in the US. They drive a used Camry given by his brother and they rent a "back yard house" in San Gabriel. They were told about CA high living expense before they came. They knew their money would not last long if they were not careful. Having temp jobs provide supplemental income so they don't drain up the money they have in the US too fast. They have only been here for a couple months.
IrvineCommuter,
The information you provided is greatly appreciated from the group of fraud victims. They are hoping to find attorneys who will work on contingency. So far some of them who had talked with an attorney all said they were charged more than $450 an hour the first session.
I got the feelings you will be hearing something about this case soon. Hopefully, police and news media will take these people seriously. I am sorry to say this, but these people are quite wimpy and skeptical. They have lost a combined of several millions to this guy and they just keep "waiting for someone to speak out first."
Anonymous_IHB
New member
<p>Run on Kazakh bank places loan covenants in jeopardy</p>
<p>http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2617881.ece</p>
<p>http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2617881.ece</p>