}

Tuesday, April 24, 2018

JASON BESCOE'S ATTORNEY WALKS...AND BESCOE FORMS A NEW COMPANY TO “PROVIDE CONSULTING SERVICES TO INDIVIDUALS SEEKING ADVICE ON THEIR PERSONAL RETIREMENT PLANS” (My Advice? Run The Other Way!)

IS JASON BESCOE HIDING HIS ASSETS, AND HAS HE SECRETLY RESUMED SCAMMING? Disgraced financial advisor Jason Bescoe waltzed into Genesee County's 67th Circuit Court for a prelim back on April 12, and left without an attorney. 

Bescoe's former defense attorney, Michael Manley, was allowed to withdraw as his counsel, according to court records.

Bescoe is now represented by a court-appointed attorney.

And although Bescoe is accused of a "Ponzi scheme", allegedly scamming elderly clients out of a six-figure sum, I have discovered that Bescoe may be back in the game.

Earlier this month, Bescoe registered "IRA Counsel, LLC" as a Michigan business entity, with the stated purpose of providing "consulting services to individuals seeking advice on their personal retirement plans."

The official filing, shown below, also states that the so-called "advice" would "include planning for accumulation, preservation, distributions, and beneficiaries."

Although the Michigan Department of Licensing and Regulatory Affairs yanked Bescoe's investment advisor license, his FINRA record reveals he's no longer licensed as a broker and he's facing embezzlement and witness intimidation charges, this deviant figured the best path is to get right back in the saddle.

Unbelievable!

But wait, it gets better. 

In addition to the new business, Bescoe registered nine Michigan entities last year beginning just days after his original embezzlement indictment was announced—entities described as "retirement account holding companies", vehicles that could shelter significant assets Bescoe doesn't want to forfeit if he's convicted. (Scroll to continue.)

Beginning August 23, 2017 and continuing through August 31, Bescoe registered these nine Michigan business entities, all with the stated purpose of a "retirement account holding company":

ABG IRA Holdings,LLC 
CAG IRA Holdings, LLC 
GDR IRA Holdings, LLC 
JED IRA Holdings, LLC 
LAR IRA Holdings, LLC 
LAR Roth Holdings, LLC 
MKL IRA Holdings, LLC 
PEK IRA Holdings, LLC 
TWK IRA Holdings, LLC 

And that's just here in Michigan!


Friday, April 20, 2018

"MAGNIFICENT", "FILLED WITH NATURAL LIGHT", "REMINISCENT OF KUBLA KHAN'S PLEASURE DOME": Three Things You Won't Read In LastBid Real Estate's Description Of Bay City Academy's Former Madison Arts Campus; A Steal At $25,000 Opening Bid (Calling Brian Lynch!)

The Bay City Academy, founded and foundered by convicted felon Steve Ingersoll, is circling the bowl—and you can buy its Madison Avenue steamer for a cool $25,000!

Listed Monday on LASTBIDrealestate.com, the property's auction is scheduled for May 2, 2018, closing at 2:00pm EDT.

Here's the description:

“Bank Owned 3 Story Former Church/Charter School ~ Online Real Estate Auction featuring a bank owned former charter school that was built in 1886. 

Situated on .88 acres, the approximately 23,885 sq. ft. building includes 14 large class rooms, two bathrooms per floor, six elevators to the basement and the two-story above-ground high open ceiling, sanctuary/theater/ auditorium. 

The building has beautiful craftsmanship and stained-glass windows as well as upgraded electrical and boiler systems. The heat and electric have been kept on and the building has ample parking across from Birney Park. 

Don't miss out on this unique opportunity.”



Here's what the description doesn't tell you: Steven and Deborah Ingersoll were officially notified on April 19, 2016 by Chemical Bank that they (along with the Steven Ingersoll-controlled entity Madison Arts, LLC) had “defaulted on the terms and conditions of the Mortgage entered into with Chemical Bank”.

Originally scheduled for August 5, 2016, the mortgage foreclosure sale finally occurred on August 26, 2016. 

There were no bidders, with the Sheriff's deed reverting to mortgage holder Chemical Bank. 

The Ingersolls walked away from their mortgage, leaving a nasty $1.8 million debt in their wake.

In addition, Steven Ingersoll shafted the taxpayer, with $1,441,600 of the loan guaranteed by the United States Department of Agriculture.

Originally listed back in September 2017 at $513,000, the Chemical Bank-owned Madison Arts later returned to the market with a new broker and a much lower price: $425,000.

You can buy it for $25,000...quick, call your broker!