By: Dallas SEM

Dallas SEM — Tue, 19 Oct 2010 17:00:43 +0000

Glad I found this article on bing when I was perusing the web. Good STUFF!

By: claudia frano

claudia frano — Wed, 28 Jul 2010 15:26:57 +0000

I interest forn the forum inspcrintion

By: jgfgj

jgfgj — Sun, 25 Jul 2010 22:15:09 +0000

Congressman Gary Ackerman’s good friends, the Zises Brothers, will sue near 200,000 Americans this year for credit card default using the trade name “Unifund” registered with the Ohio Secretary of State (The trademark documents are available on-line and free.) Since the trademark “Unifund” is owned by a partnership, Credit Card Receivables Fund and ZB Limited Partnership, proceed checks to “Unifund” can be deposited into an account at the Israeli Discount Bank (IDB) for ZB Limited Partnership and/or Credit Card Receivables Fund without being declared as income for Unifund CCR Partners (…hey State of Ohio, I think you will want your cut). My guess is that it is about a 90% skim for the past 25 years.
The Zises Brothers doing this skim are the same Zises Brothers of Integrated Resources; a tax shelter scam that went bust some time ago. They are experts is avoiding income tax, and this scam is no different. In most states, Unifund is not registered with the Secretary of State as a tax paying business enterprise. That is because State code specifically excludes the filing of a collection lawsuit from the definition of “doing business”. The legal theory goes along the lines that collection lawsuits are “loss mitigation” and not an inherently profit making enterprise. The IRS has similar rules that the Zises Brothers entities abuse to avoid declaring income.
The Zises Brothers have applied this tax avoiding principle to a business they have where the principle activity is to sue for profit…HUGE profits. Unifund has a contract with Asta Funding dba Palisades Collections to sue people on behalf of Asta Funding for a percentage of the judgment. This contract is for the purchase of bad credit card debit from Citibank and is funded, in part, by the Israeli Discount Bank for nearly $900M. Copies of the contracts can be purchased on-line. Much of it is available in publicly traded Asta Funding quarterly statements. One of them specifically rewards Unifund with a 50% premium for collecting “outside the Statute of Limitations”. Hey FBI, sounds like a violation of the RICO Act to me.
Now, where does the money go after it gets to ZB Limited Partnership. Well, ZB Limited Partnership at 767 3rd ave NY, NY is registered with the Ohio Secretary of State as a Foreign Corporation (doc available on-line and free) out of Delaware. You can search the Delaware Secretary of State database for legal entities, and you will find scores of filings by the Zises Brothers, including ZB Limited Partnership and Credit Card Receivables Fund, Inc. You will have to pay a fee for a copy of the document. Anyway, ZB Limited Partnership is owned by ZB/CCR Corp. (another account at the IDB). By the way, 31% of the Israeli Discount Bank is owned by the Israeli Government, and has been fined $12M for failing to implement anti-money laundering regulations.
The ZB/CCR Corp filing with the Delaware secretary of State has an interesting mailing address “C/O Forest Hill Capital, 800 Second Ave., New York, NY 10017″. Forest Hill Capital is the old name for Family Management Corp (FMC), another IDB account; the same Zises Brothers company that manages the Congressman’s money. So, now we know where the Unifund skim goes. But, this is where the trail gets very interesting.
Numerous business databases, including Manta, have a company known as Associated Capital, L.P. or A Capital or ACAP at 767 3rd Avenue 16th Floor, NY, NY. That is the same address as ZB Limited Partnership in the Ohio trademark filing (first one). Associated Capital was the single biggest contributor to funds supporting activity against the recently enacted finical and banking reforms. Gary, what sweetheart amendments did you get to save Associated Capital for the Zises Brothers?
It is a sure bet that the single biggest FMC investment is with Associated Capital. Does Associated Capital actually make any money? Or is it principal function to loose money, lots of money, for its clients (such as ZB/CCR Corp.)? If they loose so much, where does it all go? Let me shed a little light on the answer to this question:
“This Schedule 13G is being filed jointly by Associated Capital, L.P., a Delaware limited
partnership (”Associated”), its general partner, A Cap, Inc., a New York Corporation (”A Cap”), Jay H. Zises, the President and a director of A Cap, Selig A. Zises, Vice President, Treasurer and a director of A Cap, Nancy J. Frankel-Zises, a director, Vice President and Secretary and the sole stockholder of A Cap, and Associated Capital Offshore, L.P., a Cayman Islands limited partnership (”Associated Offshore”). Associated, A Cap, Jay H. Zises, Selig A. Zises, Nancy J. Frankel-Zises and Associated Offshore are hereinafter sometime referred to collectively as the
“Reporting Persons”. The business address of Associated Offshore is c/o Goldman Sachs(Cayman) Trust, Limited, P.O. Box 896, George Town, Grand Cayman, Cayman Islands, British West Indies. The business address of each other Reporting Person is 477 Madison Avenue, 14th Floor, New York, New York, 10022. Jay H. Zises, Selig A. Zises and Nancy J. Frankel-Zises are each United States citizens.”
I find it very interesting that the Israeli Discount Bank on 5th avenue in New Youk has semi-autonomous branches in Zurich Switzerland, Uruguay, Brazil, Chile and the Cayman Islands. Congressman Gary Ackerman, did you “loose” any money with FMC?

By: David Banks

David Banks — Fri, 16 Jul 2010 05:54:31 +0000

Is there a schedule of events available?

Comments on: Hilton New York Government Nationwide Tax Forum 2010

By: Dallas SEM

By: claudia frano

By: jgfgj

By: David Banks