}

Friday, July 21, 2017

IN THESE WANING DAYS OF MARK NOSS, WILL THE GRAND TRAVERSE ACADEMY'S BOARD OF DIRECTORS CHOKE AND SETTLE WITH STEVEN INGERSOLL'S UNINDICTED CO-CONSPIRATOR?

During the construction of Grand Traverse Academy – or of Bay City – of the Madison Arts project, I needed to put money into that project in order to get reimbursement from the bank. I needed sources for that money. I used my line of credit at Traverse City State Bank. If you look at the bank statement at Traverse City State Bank the – I had a million dollars available. 

I drew $756,000 from that line of credit from March of ’11 to June of ’11. I sent $752,000 of that to Roy Bradley and the bank finally blessed the work that was done. … I drew money off that line of credit and moved it from Smart Schools to me, to other LLCs that were involved in the effort to get Bay City done. 
Steven Ingersoll testimony
Sentencing hearing

Steven Ingersoll also indicated that TCSB was aware of and agreeable to his use of draws against the TCSB line of credit to fund the BCA project and that an email exchange with Dan Stahl at TCSB documented that understanding. 

However, IRS Agent Nick Russo testified that he reviewed the bank records in the wake of Ingersoll’s testimony and found that approximately $120,000 from the TCSB line of credit account went to the BCA project via one of Ingersoll’s personal accounts, which is well less than the $752,000 claimed by Ingersoll. 

So where did the rest of that money (roughly $632,000) go?

Coming later today, the answer!

SUSPECTED PONZI SCHEMER, JASON BESCOE, HAS A VERY EXPENSIVE HOBBY...AND AT LEAST 11 COMPANIES! How Many People Do You Know Participate In The Arabian Breeders World Cup? (Time To Call In The Feds?)

Jason Bescoe has a very expensive hobby: he loves himself a fine Arabian horse.

Bescoe's horse, shown above competing in Las Vegas during the 2015 Arabian Breeders World Cup, with the nearly unpronounceable name TR Mishaahsmadona, came in a close third in the Senior Mares/Broodmares category.

The suspected Ponzi schemer, who lives in a 3,345 square foot home in Goodrich, Michigan, also has at least 11 companies: you can add Aria Equity Partners I, LLC to the list.


If he hasn't yet done it, it might be time for Genesee County Sheriff Robert Pickell to call in the feds.

Thursday, July 20, 2017

“MACKDADDY” JASON BESCOE: Suspected Ponzi Schemer Has At Least Ten Michigan Corporations, Another In Delaware & A Florida Hedge Fund!


Somebody's been busy, and by 'somebody' I mean Grand Blanc's Jason Bescoe.

As I reported yesterday, Bescoe is under investigation in Genesee County, Michigan, for his role in an alleged Ponzi scheme.

In addition to at least 10 Michigan business entities, Bescoe has a Delaware corporation (JEA Capital Management, LLC) and once ran a Florida-based hedge fund.

Bescoe's Michigan corporations include:

-JEA Capital Holdings, LLC
-Tri-Park Properties, LLC
-Anchor Bay Equestrian Center, LLC
-Safe Ride LLC
-Kalahari Partners LLC
-Research Money Management, LLC
-Bescoe Family Holdings, LLC
-Mackdad Investments, LLC
-Kalahari Arabians, LLC
-Kalahari Stud, LLC

State of Michigan records indicate that while all ten entities are "active", several are delinquent in their corporation filings.

JEA Growth Fund LP was a Delaware hedge fund located in Florida, and founded by Bescoe on May 1, 2008.

According to official SEC records, JEA Growth Fund LP filed an SEC Form D on October 26, 2009 purporting to show that twelve investors had already sunk money into the project.

In addition, Bescoe claimed the fund had $4.2 million in assets under management.

The Fund's paper trail ended with that October 2009 filing.

But it's likely Bescoe's trail continued.

I'll keep looking...