Australian (ASX) Stock Market Forum

Status
Not open for further replies.
The Con Man's Tool Kit

Stages of the Con

In Confessions of a Confidence Man, Edward H. Smith lists the "six definite steps or stages of growth in every finely balanced and well-conceived confidence game."
"One follows the other with absolute precision. In some games one or more of these acts, to use a theatrical comparison, may be dropped out, but where that happens the game is not a model one. The reference to the stage is apt, for the fine con game has its introduction, development, climax, dénouement and close, just like any good play. And this is not the only analogy to the drama, for the scenes are often as carefully set; the background is always a vital factor. In the colorful and mirthful language of the bunko man, all these parts of the game have their special names. I give them with their definitions:

Foundation Work
The preparations which are made before the scheme is put in motion, including the elaboration of the plan, the employment of assistants and so forth.

Approach
The manner of getting in touch with the victim””often most elaborately and carefully prepared.

Build-up
Rousing and sustaining the interest of the victim, introducing the scheme to him, rousing his greed, showing him the chance of profit and filling him so full of anticipation and cupidity that his judgment is warped and his caution thrown away.

Pay-off or Convincer
An actual or apparent paying of money by the conspirators to convince the victim and settle doubts by a cash demonstration. In the old banco game the initial small bets which the victim was allowed to win were the pay-off. In stock swindles the fake dividends sent to stockholders to encourage larger investments are the pay-off.

The Hurrah
This is like the dénouement in a play and no con scheme is complete without it. It is a sudden crisis or unexpected development by which the sucker is pushed over the last doubt or obstacle and forced to act. Once the hurrah is sprung the victim is clay in the schemer’s hands or there is no game.

The In-and-In
This is the point in a con game where the conspirator puts some of his money into the deal with that of the victim; first, to remove the last doubt that may tarry in the gull’s mind, and, second, to put the con man in control of the situation after the deal is completed, thus forestalling a squeal. Often the whole game is built up around this feature and just as often it does not figure at all."
 
Innocent Elderly Retiree investors were the victims of Equititrust's well or he started scam in this instance...

Hall Chadwick need to take action and refer all illegal activities to ASIC and the Police... Dragging their feet and doing nothing only tarnishes Hall Chadwicks's reputation...
 
McIvor and Racy Stacey have some answering to do to investors and liquidators alike... Gerry Collins from BDO has at least taken legal action in the Supreme Court... Hall Chadwick are incompetent idiots who could have taken legal action by now but have done nothing except "try" and duplicate fees AND LIE TO INVESTORS ABOUT "NOT " CHARGING FEES TO THE FUNDS... LIARS in the true sense of the word...

Hall Chadwick is a joke who did nothing but protect McIvor... Remember McIvor appointed them, surprise, surprise...
 
What's the update on the public examinations of McIvor??? Are they going to proceed or is this just another lie from Hall Chadwick...
 
What has the Liquidator Hall Chadwick gleaned from the ASIC charges against McIvor which formed the basis for the raids on the offices with police ???
 
No interest payments for years, funds frozen and yet McIvor wants to claim super payments to support his luxury lifestyle...

The culprit of this collapse has no shame whatsoever... Investors who have lost the lost will likely get nothing and yet McIvor wants to suck millions from them all the way to very end.

A financial vampire never changes...
 
Creative lies

Remember this little gem below dated Feb 18 2011

Who was McIvor trying to fool, himself or in reality the investors, note no mention of the loans to King Con...

Love the sanitisation of the loan to King Con. It's referred to as a large residential site west of Brisbane. In reality it was a large piece of excrement in a deal made by McIvor and King Con...

Where as all the money gone and why hasn't this not been investigated. Were there any side deals involved?


http://www.equititrust.com.au/Pdfs/EIF ContinuousDisclosure_LoanPortfolio_Feb18.pdf
 
McIvor + Quinlivan = ...........................

Investors can fill in the blank
 
Re: "Litigation Funding Deed"

http://equititrust.com.au/Pdfs/Liquidator/Liquidators Reports - 20130423 - Circular to Investors.pdf

and there we have it, a cut and paste of the complete previous "Litigation Funding Deed" section.

http://equititrust.com.au/Pdfs/Liquidator/Liquidators Reports - 20130528 - Circular to Investors.pdf

it doesn't seem like the matter is gaining any traction at all.

Wow... Didn't see that coming. Now you have got to give credit where credit is due. A lazy $2mil and something tax refund for Equititrust. Now can you guess how much work HC will do and how much they will charge...just keep milking the cash cow. SO IM CURIOUS TO KNOW IF HC HAS BANKED THE MONEY AND IT'S SWIMMING AROUND IN THEIR ACCOUNTS, WHY DO THEY NEED LITIGATION FUNDING TO CONDUCT EXMINATIONS??? MAYBE THEY WANT TO KEEP THESE FUNDS IN THEIR FEED BAG SO ONLY THEIR SNOUTS CAN FEAST ON IT.. So diligent in hunting down this money yet couldn't chase the $800k plus they seeped from the accounts when the Rats of Equititrust jumped ship handing the Golden Battern to HC.

Some how I see some of this money finding its way back to Conivor even if it's only a spotters fee..
 
Once again - the Lord giveth, the Lord taketh away!!!!!!!!!!!!!!!!!!!!!



Does anyone remember who was on the committee of creditors? Memory here says that a Ms Amanda Banton and a Mr Stuart Norton were the names mentioned, not sure about anyone else. Has anyone heard from this Committee?

Quote - Hall Chadwick "The function of a committee of creditors is to consult with the Administrators in relation to the administration of the company and receive and consider reports by the Administrator. As outlined in the meeting the committee is effectively to act as a "sounding board" for the Administrators." End Quote.

Would have thought they would have had something to say about what is happening since they are there to represent the investors and creditors of the Company.

The silence is deafening!
 
EIF Receiver - David Whyte

Seems even with the big bucks, your Mr. Whyte isn't compelled to keep punters up to date on a monthly basis - not even a little monthly "thank you" for the hundreds upon hundreds of thousands of dollars in fees BDO has receipted from the EIF - it seems to me that BDO should be grateful, after all, any receiver could do their job, but it's your fund paying the big bucks.

http://equititrust.com.au/Pdfs/Receiver/Receivers Reports - 20130418 - 12th Report to Investors.pdf
 
Artwork


"In a ruling this month, Justice Glen Martin forbade Mr McIvor from disposing of any of the pieces and ordered that receivers from Ferrier Hodgson have access to inspect them."


http://www.couriermail.com.au/busin...p-art-collection/story-e6freqmx-1226338596337

Latest update on the disputed Conivor's Treasure. Well it seems the The Man Cave hoarding the Mcivor art and furniture spoils on Cronin has finally been dismantled. It appears the bulk of anything of value such as the art work and sculptures was surrendered to FERRIERS while Stacey The Jackel scavenged over the remains dragging the personal furniture ie: all the bad taste crap and kids beds back to the Mcivor humpy on Solerno Drive.

It was an embarrassing day as Crazy Stazy argued tooth and nail with the receivers over every morsel of her last feast at the Equititrust table...yes she got the horrible 20 seat round table.

No knights to sit at this table, no table of knowledge, just an ugly edifice of greed and averice. I hope it serves up a dose of karma every time they sit down to it.
 
Re: "Litigation Funding Deed" $47K for May 2013 - we are being financially f---ked

EXCEPT LOOK - they got paid $47k!!!!! for May 2013....

what a gig

http://equititrust.com.au/Pdfs/Liquidator/Liquidators Reports - 20130423 - Circular to Investors.pdf

and there we have it, a cut and paste of the complete previous "Litigation Funding Deed" section.

http://equititrust.com.au/Pdfs/Liquidator/Liquidators Reports - 20130528 - Circular to Investors.pdf

it doesn't seem like the matter is gaining any traction at all.
 
Re: EIF Receiver - David Whyte LEAVE WHYTE ALONE

every report costs money

he is quietly chipping away and making good progress where noone else has a done a thing....

we cant have low costs and reports beign done too....

who cares - lets get this trainreck cleaned up as quickly and cheaply as we can....

Seems even with the big bucks, your Mr. Whyte isn't compelled to keep punters up to date on a monthly basis - not even a little monthly "thank you" for the hundreds upon hundreds of thousands of dollars in fees BDO has receipted from the EIF - it seems to me that BDO should be grateful, after all, any receiver could do their job, but it's your fund paying the big bucks.

http://equititrust.com.au/Pdfs/Receiver/Receivers Reports - 20130418 - 12th Report to Investors.pdf
 
Re: Equititrust? 23rd JUNE coming up ANOTHER ANNIVERSARY OF THIS THREAD...

this thread led the media and others and effectively brought the house of cards down.....

Yes let's hope so... Thanks for all the support ASICK, your input on this matter has been invaluable...
 
BDO in the News

"ASIC confirmed on Thursday that Australia's six biggest auditors - PwC, KPMG, Ernst & Young, Deloitte Touche Tohmatsu, Grant Thornton and BDO - had agreed to prepare "action plans" to improve the quality of their audits."

Read more: http://www.smh.com.au/business/prom...sic-warning-20130613-2o737.html#ixzz2W8e33llJ

Yes, BDO is coming up with an "action plan" - that's great, after the years of managing the PFMF, they're going to improve the quality of their audits.

The jokes keep on rolling in.
 
Re: "Litigation Funding Deed" $47K for May 2013 - we are being financially f---ked

EXCEPT LOOK - they got paid $47k!!!!! for May 2013....

what a gig

Doesn't anyone get it yet. HC are sitting on approx $2.3mil tax refund cheque. They don't need littigation funding or money to examine any one. EL would have been solvent except for this tax issue, and now it's solvent again. HC should exit the company now and return it to Conivor or who ever the shonk wants to install. The Conivor owns all the shares in his super dooper fund..and the good news.....Macrat could now apply to have his bankruptcy annuled then it's back to do what he does best.....corporate pillaging whilst living the high life. YEAH TEAM CONIVOR. How's what you can do with a good plan and a good pet receiver. the question is how much more will HC drain the well before they exercise their exit strategy.
 
Status
Not open for further replies.
Top