Happy Incarceration!

The Bureau of Prisons Inmate Locator now shows that Ed and Joel are both in custody.

Ed’s registration number is 68555-112 and he is currently residing in Terminal Island FCI, a low security prison in San Pedro, CA.

Joel’s registration number is 68556-112 and he is currently residing in Lompoc USP, a medium security prison in Santa Barabara, CA with adjacent minimum security camps.  I’m not sure if Joel’s staying in the camp or not.  Medium security seems a little high for a white collar crime.  If he’s staying in the camp, then he’s got a bit easier than Ed, since low security has more security than medium.



  1. Don’t get me wrong here as I am sorry for the losses the victims have sustained. What intrigues me however is a question which I cannot get out of my mind. And that is: “what were you thinking” If a 20% per cent return was really available, it would have never been offered to individuals.

    No Fortune 1000 company makes 20% net profit. The best minds all Wall Street struggle to make 3%, if that. Do you think for a minute that the manufacturer of the machines would sell a product where you can make a 20% percent return?

    High volume ATM’s at Hotels? I stay at Hotels 50 days a year and I Never have ever seen anybody use Hotel ATM. Did anyone ever go to a hotel with an ATM and see if they were in use?

    Unfortunately the naïveté of the investors and their desire for a return which stands logic on its head is necessary element of any Ponzi Scheme. As an investor who by careful investing, makes a modest and honest return, it’s hard to feel sorry for you.

    Is anybody any better off because these two old Schmucks are in Prison? I don’t think so.

    1. …”Is anybody any better off because these two old Schmucks are in Prison?”… YES… and good luck with being smug and claiming to be too smart to be victimized..

    2. “…Is anybody any better off because these two old Schmucks are in Prison? …” YES!!!

      READ the whole story. He stole from his father-in-law when the old guy was in his 70’s and had already suffered too much…

      Good luck with feeling smug and thinking you’re too smart to be victimized…

  2. I’m curious if we will ever see some money back from this. I’m a victim and there is no information of the sec sight and no one has ever gotten back to me. Does anyone have any info?

  3. I think the Court decides now on the Restitution if any investors will receive. I do know the Receiver William Hoffman who was assigned to work on this case has paid HIMSELF over $480,000….must be nice! Hope there’s some $$ left for the rest of us who lost our investment.

    1. There are no ‘winner’s… How many of them simply saved all the money they got back from those crooks? How many? What did they do with it? They spent it thinking all along that they had a nice savings to fall back on until it evaporated when the SEC closed them down. The only difference between the ‘net winners’ and ‘net losers’ is the ‘winners’ go to SPEND their savings (whether they knew it or not).

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