}

Tuesday, January 5, 2016

"I DID NOT KNOW THE EXTENT OF HIS PROBLEMS, BUT IT HAS NO EFFECT ON THIS SCHOOL PROJECT." Miss Fortune Reveals More Shocking Emails That Show How Deep The Rot Really Is At The Grand Traverse Academy! (And You Read Here First!)

EXCLUSIVE REPORT!

Yes, Miss Fortune has another exclusive: the loan solicitation emails sent between Brad Habermehl, his "friend and colleague" Steven Ingersoll and a business associate of Habermehl's regarding a "private school" venture the two were launching -- emails sent after Ingersoll's April 2014 federal fraud indictment and while Habermehl was the president (and public face) of the Grand Traverse Academy board of directors. Additional emails revealed Habermehl's solicitation effort continued even after Ingersoll's March 10, 2015 conviction.

The emails, released publicly yesterday, confirm Habermehl was acting on behalf of Ingersoll, even referring to him as his "friend and colleague".

Habermehl sent the initial November 24, 2014 email, shown above, to his business associate, John Reigle. 

However, the funding effort was initiated by Ingersoll himself earlier that day, with an early morning email to Habermehl outlining the bare bones of his "loan" proposal.


Habermehl's December 8, 2015 testimony during Ingersoll's sentencing hearing revealed that former Lake Superior State University Charter Office head Bruce Harger was one of the project's five investors. Harger headed the office that chartered and oversaw the Grand Traverse Academy. 

At 12:24pm on November 24, 2014, Habermehl reported back to Ingersoll, telling him "I have made the initial contact. I told John that you would like to have the funds no later than 6 to 8 weeks. I will let you know when I know more. Brad"

Later that afternoon, Ingersoll sweetened the collateral pot, telling Habermehl in an email sent at 2:06pm that he has "two other high value houses and three school buildings as possible collateral if necessary."

During his December 8, 2015 testimony, Habermehl revealed that Reigle passed on the proposed "investment".

However, Miss Fortune can exclusively reveal that on Sunday, March 15, 2015, less than one week after Ingersoll was convicted in federal court, Reigle reached out to Habermehl, sending him an email.

Raising the issue of the "deal" he'd previously passed on, Reigle stated: "I'm sure glad that I didn't loan money to Steve Ingersoll. Looks like his ass is going away to the Gray Bar Hotel and facing some pretty hefty fines! Did you know that he was in that much trouble when you asked to borrow $300,000 from me? I hope not."

Less than 30 minutes later, Habermehl responded and made a shocking revelation about one of the proposed project's partners, which he later revealed in court was former Lake Superior State University's Bruce Harger:

"There are currently five investors that are perusing the school project.

I and Steve are 2 of the five. One of the investors just retired from Lake Superior State University.

You are correct that we have been friends for over 40 years. I approached you as an investor with more than $300,000 in collateral. I have not and would not bring you an investment deal that was not secured with like collateral.

This is still a very good investment with a good return.

Steve's problem with the IRS is with his personal income taxes and not related to any of the schools.

I did not know the extent of his problems, but it has no effect on this school project. Brad"


Is there anyone out there who doesn't think this whole thing stinks on dry ice? It's a shame no one is covering Ingersoll's sentencing hearing, which resumed this morning. I'd be there, if I didn't have to risk my personal safety to do it!

6 comments:

  1. Just another nail in the proverbial coffin. Like Habermehl didn't know what was going on for that matter Harger(LSSU) also. Ingersoll falsified the worth of his buildings to the government and meanwhile he is trading them for collateral for another school, but didn't he sign them off to his accountant/lawyer? Now that is a real solid business deal. And Noss, Lynch and Habermehl say Ingersoll has nothing to do with these schools or them, hogwash. I smell a whole pig farm and it is stinking the charter school industry to high heaven, besides the towns they are located in. If the government doesn't shut these schools down Ingersoll will go into the grey bar hotel and collect more money from the government and keep exploiting tax payers and children. I call these emails solid proof. This is just obscene, the blatant arrogance these individuals possess. Who do they think they are! Justice needs to be served Pronto! Before the whole damn town reeks.

    ReplyDelete
  2. And who isn't afraid of these guys? They play dirty and everyone knows that. I bet we don't even know half of what they are willing to do to keep their stream of money flowing.

    ReplyDelete
    Replies
    1. You misunderstood my comment. I am not afraid of "these guys" (meaning Ingersoll, Noss, Habermehl, Lynch), but I refuse to put myself in a position to be publicly harassed by the unhinged son of Roy Bradley -- when I'm not making a fucking nickle doing what reporters at the Bay City Times and the Traverse City Record-Eagle are being paid to do!

      Delete
    2. In a way it's a shame that Reigle didn't loan Steve Ingersoll part or all of the $300,000 for that 'investment'. That way he'd and others would really be ticked as they wouldn't be able to recoup their money. If Reigle and others had loaned Ingersoll that money, then every year for three or more years, Ingersoll and his buddies would have had to sucker in and smooze some more investors with some 'opportunities' to repay Reigle. Makes you wonder why Habermehl and Noss didn't capitalize on this wonderful 'investment'? Maybe even they didn't have the money or knew that it would be doubtful to get it back? Interesting too that Reigle, speaking of Ingersoll, said: "It looks like his ass is going away to the Gray Bar Hotel."

      Delete
    3. It's still unclear whether or not Habermehl, or anyone else connected to the so-called "project" solicited funds from anyone else. In my opinion, it's likely that others were presented with this "investment opportunity" and that information may eventually percolate up.

      A better line of inquiry for Habermehl would be these questions:

      1. Why wasn't Habermehl interested in helping Ingersoll borrow money to pay back the Grand Traverse Academy?

      2. Wasn't Habermehl's fiduciary responsibility to the Grand Traverse Academy first, and other business interests second, especially when those interests include a convicted felon?

      3. If there truly was a business opportunity Habermehl was soliciting investments for, why not produce the articles of incorporation or other documents of this entity? If there were other investors, and if this was a legitimate business interest, there had to be more to it. Who owned how much of what? Or was it a ruse, designedto disguise the effort's real intention: finding money to support Steven Ingersoll's lifestyle.

      4. And finally, the fact that Habermehl was in a business venture with the same person who admitted on May 20, 2013 that he owed the Grand Traverse Academy at least $3.5 million dollars is a huge issue that needs to be
      answered.

      It could be seen as proof that Habermehl never had any interest in collecting the money that was owed to the Grand Traverse Academy by Ingersoll.

      Delete
  3. You are right again, Miss Fortune! Obviously, Habermehl and the GTA board must have thought that Ingersoll didn't really owe the GTA that or any money and that he was so benevolent with his 'baby' and bailed the school out so many times with his 'rebates' that it was ok to continue to solicit money/investors for some new Ingersoll endeavors. What a nightmare and what a bunch of crooks! They have operated as a group - "rooks Without Conscience".

    ReplyDelete