New York Class Action – The Declarations

There were four declarations attached to the New York Class action couldn’t be covered in the last post. I planned to cover all four of them here, but the two from the investors don’t really add anything we didn’t already know, so I think I’ll leave them off for now. I’ve also left out information stated in yesterday’s post since these are all a part of that filing but some repeated information was included for context. Ed Wishner In a shocking turn of events, Ed is actually helping the victims.  Or screwing over a former co-conspirator.  I doubt either is being done out of the goodness of his heart.  As you know he’s been at Terminal Island, but what you may not have heard is that he’s been living in the infirmary because he requires “frequent medical attention.”  He’s doing this declaration because he “may not survive in prison long enough to testify in person.”  My heart bleeds. Ed says that they kept investor files in file cabinets at NASI.  These files generally included the purchase and lease agreements, proof of payments from the investor, copies of correspondence to and from the investor, copies of some monthly Investor Summary reports and

Continue reading

One at a Time: The Payne Case

This one was filed in the LA Court system back in March against City National Bank and Patrick Brian Fitzwilliam.  Looking at the case summary, it seems to be going better than the Nairn case, which looks like it’s on life support. This class action suit is only open to those who lost money with NASI and who are over the age of 65 (they’re going for an elder abuse claim, in addition to others). Considering that many of the investors were elderly at the time the Dickwad Duo convinced them to lose their life savings, this is not a bad angle.  Unfortunately, not all were elderly so…that…sucks. In any event, the complaint outlines some facts and a bit of a timeline.  Of course, these facts will have to be proven, but it’s interesting nonetheless. Fitzwilliam became Senior Vice President and the branch manager for the Woodland Hills branch of the bank in 2004. By this time, NASI had grown to one of the largest depositors at the branch. Whenever deposits were made, Wishner would almost always bring them to Fitzwilliam to deposit. During those visits, Ed would also initiate transfers between bank accounts to cover the checks.  In 2004,

Continue reading