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PCR #168  (Vol. 4, No. 24)  This edition is for the week of June 9--15, 2003.
La Floridiana by Will Moriaty
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Don't Get Fooled, Fleeced and Flimflammed in Florida -- Part 3

Foreword: In parts 1 and 2, we saw how a pot of gold at the end of the rainbow developed a potential for catastrophe and how some detective work shed light on a cascading disaster. Following is the end of the story up-to-the-moment, altho some parts are still under investigation. All parties' proper names have been altered because of the ongoing investigation, and Will's use of humorous pseudonyms is by no means meant to downplay the seriousness of this tragic tale. --Nolan

In a letter dated May 29, 2003 it became official. Infidelity Forshurity, Ltd. denied coverage of the default of our investment subscription to FeePhyFoeMeds, Inc.

In essence this means that we might as well have gone to the bank, withdrawn half a million dollars and then threw ever single greenback into a fire! This also means that what was at one time an atmosphere of anticipation of looking forward to financial freedom and its by-products of monetary and personal growth was reduced to a shattered dream, rife with possible lawsuits and even the possibility of the separation of family relationships.

I don't withhold myself from blame. I should've been much more proactive, even if it meant that my relative gave me my walking papers that evening in January 2001 for questioning Friendly Freddy about a high risk investment of this type. I wish I'd have known as much about the laws and regulations of the securities world as I do now (which is still probably woefully inadequate).

Fallout Felt All the Way to Crazed Fanboy
In November 2002, Nolan had asked me if I would consider giving him a personal loan in order for him to expand the working capital of Crazed Fanboy in the hopes of one day making it a profitable venture. The projected profits would eventually be used for items such as updating his computer technology, expanding the marketing base, paying writers for their contributions, and ultimately, paying back the personal loan.

Karen and I were initially going to loan Nolan $5,000.00 through five one thousand dollar progress payments. Each progress payment loan carried stipulations of achieving specific business benchmarks in order that once met the next progress payment with its stipulations would then be made. We managed to only make two such payment loans to Nolan before the troubles with F.P.F.M. Inc., surfaced. Now the once-anticipated launching of Crazed Fanboy would be another victim of this catastrophic economic loss. In the world of finances, $5,000.00 is not that much money, but in the World of Nolan, $5,000.00 is like Fort Knox. All of you who read this publication should be aware of the incredible sacrifice and high degree of professionalism that Nolan puts into this publication, all of it literally pro-bono. That is to me the most heartbreaking part of this - - that flim-flam artists daily horde thousands of dollars in ill-gotten gains, living lavishly, often above the law, while honest and hard-working people like Nolan continue to languish. In addition, I had planned on putting some capital from our investment's revenues into my tree-planting organization which has not had a paid staff in over twenty years of its existence, yet has managed to donate and plant over 43,000 trees in over 150 projects, all at no cost to the public.

The State of Florida and the F.B.I. Get In On the Act
Now that malfeasance has been questioned by some of F.P.F.M. Inc.'s investors, both the State of Florida Office of Financial Institutions and Securities Regulations and the Federal Bureau of Investigation have launched investigations into F.P.F.M. Inc.

When all of this will end and exactly will results it will glean is beyond me at this time. Based on all the written documentation and evidence I have amassed from State and Federal securities laws; SEC and attorneys websites; public notice records; web searches concerning F.P.F.M. Inc. and the bonding companies; and the language of the private placement memorandum and our subscription and its "Suitability" attachments, I am convinced of one thing that I pray I am wrong about - - every level of this investment appears to have been fraudulent in one form or another.

The Death of a Salesman
The latest e-mail from the world of Friendly Freddy that I received was within the week. In this his wife, Lula Mae, reported that Friendly Freddy is at home recovering from a stroke that he presumably suffered as a result of all the upset associated with F.P.F.M. Inc. Lula Mae went on to state that she was attending to his needs at this crucial time and then to drive home to over thirty of his F.P.F.M. Inc. investors that after all "your health should mean more than your money."

I guess I can't argue with that, Lula Mae. but it doesn't take the sting out of what happened, and be assured that it does not sway me from my commitment to see that justice be done in this needless life-altering event.

If you think that you may have been a victim of securities fraud, please visit these fine web sites:

United States Securities Exchange Commission (SEC)

Hiring at attorney (Central Florida Law on the Web)

Investor Recovery Center (Law Office of Vincent DiCarlo)

National Association of Securities Dealers (NASD)

Federal Trade Commission - Investment Risks

If you are considering investing in a private placement offering under a SEC Section 4 (2) exempt transaction governed in part or entirety by Regulation 506-D, please visit these fine web sites:

State of Florida, Licensing and Registrations, Exempt Securities

Securities Exchange Commission, 1933 Securities Act, Section 4(2), "Exempted Transactions"

Slides 51 and 52 of 52 by John Hession of Testa, Hurwitz and Thibeault for the M.I.T. Spring Workshop, "Financings 101", Regulation 506-D (Slide 51), Section 4(2) (Slide 52)

"La Floridiana" is ©2003 by William Moriaty.  Webpage design and all graphics herein (except where otherwise noted) are creations of Nolan B. Canova.  All contents of Nolan's Pop Culture Review are ©2003 by Nolan B. Canova.