Soneet Kapila goes after Michael Crudele

This was a long time coming, but today Lou Pearlman bankruptcy trustee Soneet Kapila sued Michael Crudele, a key figure in the EISA sales program, for recovery of fraudulent transfers. Judge Arthur Briskman signed a temporary restraining order, which prohibits Crudele and his company, Aegis Consulting, from taking any action regarding any assets transferred from Pearlman and his companies or that are the "proceeds or products" of those transfers without Kapila's authorization or court approval. He's also supposed to account to the trustee for what he's done with the property. The order is based on this emergency motion and supporting documents such as this and this.

Kapila says Crudele and his company, Aegis, got $7.5-million in the four years prior to the bankruptcy filing. Trans Continental Airlines even bought Florida Prepaid College Plans for Crudele's three children for $30,872. Also note the generous donations of $67,000 to Bell Shoals Baptist Church in 2004 and 2005. Soneet wants Crudele to give the money back. (If you read it, you'll note he makes two sets of claims, one for transfers over four years and one for transfers over two years in case the judge doesn't go along with the four years.) Who knows how much of the money has been spent. But Soneet did track down a Crudele account for $175,000 with Gries Investment Fund I LLC and there's $23,232 left in Prepaid College money. The exhibits at the back of the suit lists the transfers.    

Kapila says Crudele contracted with sales agents to market the EISA program and distributed the fraudulent sales materials. "All material inquiries from investors about the operation of the EISA priogram and/or the investment and withdrawal of investor funds in the EISA program were directed to defendant Crudele."

Comments

I blame Lou Pearlman.

1:19 what if they prove Reca Rene allegedly helped Big Pop on the run??

[tanker]

The innocent were the EISA purchasers, Who's without sin? I don't know but this is not where it will be figured out. I don't feel bad for who sold it and skimmed peoples money from them after they put their trust into them and Lou's scam. If they didn't know it was a scam why only give the clients 3%? and the balance was kept by the Golden Securities? (as is my understanding), I would feel bad if they were really "conned" too but I don't think thats the case with the big hitters in Lou's EISA, if your taking the lions share of the "interest" but its not your money invested you might have your first clue.
I bet their a bit nervous at this point as the old saying "it all comes out in the wash" is very true. If in fact someone was truly referring a friend to
Lou's scheme I feel very bad for them being caught up in the mess but I'm sure if you were selling this to make your living, I'm going to say you had to know this day was coming.
Also, Quit trying to blame Charlie Christ for this.

Crucify the innocent. Let he who cast the first stone be without sin, sound familiar, Brother Christian.

[tanker]

Ricardo, I see your post "How about going after Golden Security?" Their living in like a 2 million dollar condo, taking trips to Europe...maybe to set some money aside in case things get rough, but I've heard they are Christians so you shouldn't have to go after them, just ask and I'm sure they'd return any money they helped steal. Weren't they the ones who paid like 3% when everyone else got like 8%?, maybe the extra charge was for really good advice they were giving people! I hope you get some of your money back.

Memory loss? Don't you know that the official crony excuses are:

I'm too sick to testify.

Someone stole my computer.

It's attorney client privilege.

We were filming Longshot 2 and you were just an unpaid extra who got "punked".

The person I met on a back road took all the paperwork.

Who is Lou Pearlman?

I never had the paperwork I have objected to handing over for months.

I'm bankrupt despite living in my "wife's" mansion and driving "her" Porsche.

I'm too busy tracking down the real culprits.

I'm late for my flight. We'll talk later.

Probably..not dealing with pillars in the community here even though they played the part pretty good.....

Bet he claims memory loss...

Heard Crudele crashed his car badly not too far before everything collapsed, he knew he was in bad company and could not take the pressure, nor get out perhaps? Best thing Mike is fess up and be as helpful as you can be right now.

Is the daughter hot??

Take note who signed those checks to the pre-paid college fund! It's our buddy Robert "hide like a coward" fishetti.

The room is getting smaller Robert Fischetti-Bali is nice this time of year-It will all be over soon RAT!

Where's his "mugshot"? Anyone?

Was David Elliott involved in sales for LJP?

Kudos to Soneet for holding Crude's feet to the searing fire. An early taste of hell for Mikey.

If nothing else this public indictment burned down his personal reputation. That has to be worth something.

Mike C was it worth it???????

[Amanda Nelson]

Those are not the only Prepaid college plans Transcon paid for.

Look to GM

Here is a FACT, you creep us out 5:29 pm.

You sound like a crook, hit a nerve you tell me.

1:41 pm, you sound like an agent! Hit a nerve?

Hey, when you get a FACT share it.

ALL the agents were Pearlman worshippers! That strongly suggest Crudele paid them handsomely to get them to suck money out of us like they did, without conscience. The agents have tons of money out there, go get it Soneet!

[Ricardo]

How about going after Golden Security? They were so blatant in their support for Pearlman that they used his address for their mailings! Are they still living the high life in Florida. How about recouping some of the millions they scammed from "investors"?

this will be one of the guys that Pearlman is ratting on

so he is an alleged co conspirator??

This is the time to look hard at Crudele and his agents, Soneet will learn much if he gets past the legal barriers to discovery and recovery.

over 7 million? are you serious? that does indeed raise my eyebrows.