By: Rich Bergeron
It's been a while, but I created this nice new blog and wanted to formally update the Xyience saga. Right now there has been no action in my own legal matters in the adversary case in more than 6 months. I'm preparing a few filings of my own to change that.
Meanwhile, I've been reading up on what's going around about all the old "Usual Suspects." While the UFC is seemingly still doing smashingly well, Station Casinos is facing resistance from all fronts. Whether it is the culinary union with a bone to pick (pun intended) or the company's major creditors, adversaries and critics are popping up everywhere to claim the casino chain is being shady. Just check out a few of these links if you don't believe me:
NATIONAL LABOR RELATIONS BOARD COMPLAINT AGAINST STATION CASINOS AND OTHER FILES
Station Casinos bondholders renew interest in suing over deal
Propco/Opco: Playing With the House’s Money?
Bankrupt Casino Goes On With Fireworks as Usual
This is just a small sampling of what I've been reading out there about Station Casinos and the "stalking horse bidder" ploy the Fertittas will use to get the best out of this deal at auction, just like they did for Xyience.
Consider this: When Xyience went bankrupt there was a stalking horse bidder for that company, too. What was that company's name???
GOOD THING THE INTERNET REMINDED ME IT WAS MANCHESTER CONSOLIDATED CORP, WHO "bought" THE COMPANY FOR $15 MILLION.
Over the course of the bankruptcy there were a lot of name changes. The company that was the chief lienholder of Xyience going into the BK process was a company dubbed Zyen, LLC when Fertitta Enterprises General Manager Bill Bullard signed the paperwork in 2007. When Manchester walked into the picture, the name became MANZEN. Then it appears Manchester's backers defaulted on the purchase, so it looks as if Fertitta Enterprises, through Zyen, LLC outright owns the company now. Check out these listings from the Nevada corporate entity search engine:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=2ryhJA1g38vr4wHvjZ4vJA%253d%253d&nt7=0
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=N2lDhJztZVB8V0F%252bccSz1w%253d%253d&nt7=0
Gordon and Silver is Gregory Garman's firm. Garman (image below) is the main attorney in my case for Fertitta Enterprises:
"Manzen" only has one manager now: Zyen
And who manages Zyen? BILL BULLARD AND FERTITTA ENTERPRISES:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=w2mQRKtvYIQG5%252bRhxnaqMA%253d%253d
Meanwhile, Xyience is accordingly in "default."
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=n5MCm0RnmZ2bAWvCkO5bRg%253d%253d
What now looks obvious on paper should have been so obvious from the beginning when I was trying to warn of the conflict of interest involved in the Fertittas owning Xyience. I tried to stop the bankruptcy process before it got too far underway, but at that point I had too little legal experience. Still, my Motion to Suspend the Bankruptcy is true Nostradamus-quality stuff looking back now and comparing it to a more experienced legal mind's take on things.
The Fertittas always hid behind a smaller, more obscure company to do their dirty work with Xyience, but now it's clear who owns everything. The fog is clearing, and the fraud will be exposed in the long run.
Yet, without a few key players like Adam Frank and Kirk Sanford, the Fertittas and their GM William Bullard would not have been able to take control of things in Xyience's darkest hour. Adam Frank signed the bogus declaration that got the whole complaint against me started in Nevada. Frank and Sanford met with me in NYC prior to UFC 78 in Newark, NJ. This was after we had this conversation:
CLICK HERE TO LISTEN TO XYIENCE Co-CEOS ADAM FRANK AND KIRK SANFORD TELL RICH HIS WEB-SITE IS A GREAT RESOURCE ON XYIENCE
Sanford and Frank both pulled off crucial moves that helped sink any hopes the shareholders had of retaining any interest in the company after the Fertittas put their cash in. Frank seemed fully aware of the "Scorched Earth" policy advocated by Sanford and discussed at length during our meeting in Times Square back in November of 2008. Someone on the inside at Xyience found out about my meeting and sent me series of emails that broke the case wide open for me, detailing how plans were made to destroy the company piece by piece. I was bombarded with emails warning me about Frank and Sanford's master plan when I got back from the UFC trip. These dispatches had plenty of facts and insider information exposing the ongoing fraud. Tracing the motives of the main parties who perpetrated it all became much easier over the next few months.
Eventually Kirk Sanford's troubles at his former company, Global Cash Access, would become public knowledge when the Arizona authorities issued a scathing report about the company's troubled past with "mis-coding" issues related to credit card transactions and commissions owed to casinos that were never paid. So, it seems Sanford and his friends were bringing too much heat. Those still close to Sanford that still remained had to be ousted.
Then, Sanford set out to create a new GCA called "Sightline Payments." Here's an interesting advertising post for the company: Sightline Payments: Bunch of Zeros.
Well, I know they've got at least one zero, and his name is Kirk Sanford. He is a slick scam artist who is pegged accurately in circulating complaints about his character outside of the Arizona report. He even went as far as acting like an outsider looking in on the fraud parade he was the grandmaster of at GCA. He actually turned around and filed a ridiculous multi-million dollar lawsuit against his former employer. He claimed GCA's promise not to do business with Sanford and his friends was done as a deliberate attempt to smear his name so as to hinder him from developing a competing company. As if Sightline was going to sprout up overnight into a multi-billion dollar conglomerate? What dream world is Kirk Sanford living in, or what drugs is this guy on?
Kirk Sanford and his crooked track record would have been exposed one way or another, and GCA's willingness to distance themselves from him wasn't the only nail in the coffin. There's a thing called Google you might not be aware of, Kirk. Do a simple search for Kirk Sanford on any search engine. How far do you have to go to find links to his whole fraudulent history? And that's not even giving any creedence to the gossip saying he's a drunk to boot. I suppose you have to drink a great deal of alcohol to be so completely dishonest and deceptive to such good people.
The depth of that kind of conniving is really astounding to me. It's been such a long and painful process to prove everything, but it's all there now in the public eye. Yet, still, people like Kirk Sanford are able to go on and do business like nothing ever happened. Fertitta Enterprises is able to waltz right in and take control of Xyience, the company that sponsors their cash cow: THE UFC. They're able to claim bankruptcy even though the family itself is worth billions. The Fertittas are meanwhile still flying on their private jets, enjoying their lavish lifestyle, and filling up their deep pockets any way they can. The Fertittas found a way to cash in on bankruptcy with Xyience, and now it's obvious that they are trying to duplicate that whole process with Station Casinos.
When will justice be done? What will it take for a wise judge to step up and say enough is enough with this scam after scam mentality? How many people have to be hurt in the long run before the corruption stops?
When the wheels are greased, they don't squeak. Something tells me the Fertittas can be true bastards all their lives. They get a free pass to never be held accountable for their ruthless business practices. Just the mantra of their mob association and lineage is usually enough to keep them safe from getting truly busted. Nothing will get in their way, and they will envision and execute larger schemes that screw more people. It's inevitable that greed and power corrupts, and this is one brotherhood that is built on greed.
Perhaps the only saving grace in the long run will come when some of their fortune has to be handed back over to the victims they swindled to get it. The 18th of July, 2010 marks the 3rd anniversary of the initial filing of Xyience's $25 million defamation suit against me. I've done a lot since then to fight back and fight for the shareholders who lost family trust funds, college funds for their kids, and retirement income they needed to stay afloat. I've done my best to keep telling the story and keep fighting the legal fight no matter what. It's been a while, and I've had a bit of a break from it all, but now I'm back, and I'm not letting up until the job is done on all fronts.
It's been a while, but I created this nice new blog and wanted to formally update the Xyience saga. Right now there has been no action in my own legal matters in the adversary case in more than 6 months. I'm preparing a few filings of my own to change that.
Meanwhile, I've been reading up on what's going around about all the old "Usual Suspects." While the UFC is seemingly still doing smashingly well, Station Casinos is facing resistance from all fronts. Whether it is the culinary union with a bone to pick (pun intended) or the company's major creditors, adversaries and critics are popping up everywhere to claim the casino chain is being shady. Just check out a few of these links if you don't believe me:
NATIONAL LABOR RELATIONS BOARD COMPLAINT AGAINST STATION CASINOS AND OTHER FILES
Station Casinos bondholders renew interest in suing over deal
Propco/Opco: Playing With the House’s Money?
Bankrupt Casino Goes On With Fireworks as Usual
This is just a small sampling of what I've been reading out there about Station Casinos and the "stalking horse bidder" ploy the Fertittas will use to get the best out of this deal at auction, just like they did for Xyience.
Consider this: When Xyience went bankrupt there was a stalking horse bidder for that company, too. What was that company's name???
GOOD THING THE INTERNET REMINDED ME IT WAS MANCHESTER CONSOLIDATED CORP, WHO "bought" THE COMPANY FOR $15 MILLION.
Over the course of the bankruptcy there were a lot of name changes. The company that was the chief lienholder of Xyience going into the BK process was a company dubbed Zyen, LLC when Fertitta Enterprises General Manager Bill Bullard signed the paperwork in 2007. When Manchester walked into the picture, the name became MANZEN. Then it appears Manchester's backers defaulted on the purchase, so it looks as if Fertitta Enterprises, through Zyen, LLC outright owns the company now. Check out these listings from the Nevada corporate entity search engine:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=2ryhJA1g38vr4wHvjZ4vJA%253d%253d&nt7=0
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=N2lDhJztZVB8V0F%252bccSz1w%253d%253d&nt7=0
Gordon and Silver is Gregory Garman's firm. Garman (image below) is the main attorney in my case for Fertitta Enterprises:
"Manzen" only has one manager now: Zyen
And who manages Zyen? BILL BULLARD AND FERTITTA ENTERPRISES:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=w2mQRKtvYIQG5%252bRhxnaqMA%253d%253d
Meanwhile, Xyience is accordingly in "default."
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=n5MCm0RnmZ2bAWvCkO5bRg%253d%253d
What now looks obvious on paper should have been so obvious from the beginning when I was trying to warn of the conflict of interest involved in the Fertittas owning Xyience. I tried to stop the bankruptcy process before it got too far underway, but at that point I had too little legal experience. Still, my Motion to Suspend the Bankruptcy is true Nostradamus-quality stuff looking back now and comparing it to a more experienced legal mind's take on things.
The Fertittas always hid behind a smaller, more obscure company to do their dirty work with Xyience, but now it's clear who owns everything. The fog is clearing, and the fraud will be exposed in the long run.
Yet, without a few key players like Adam Frank and Kirk Sanford, the Fertittas and their GM William Bullard would not have been able to take control of things in Xyience's darkest hour. Adam Frank signed the bogus declaration that got the whole complaint against me started in Nevada. Frank and Sanford met with me in NYC prior to UFC 78 in Newark, NJ. This was after we had this conversation:
CLICK HERE TO LISTEN TO XYIENCE Co-CEOS ADAM FRANK AND KIRK SANFORD TELL RICH HIS WEB-SITE IS A GREAT RESOURCE ON XYIENCE
Sanford and Frank both pulled off crucial moves that helped sink any hopes the shareholders had of retaining any interest in the company after the Fertittas put their cash in. Frank seemed fully aware of the "Scorched Earth" policy advocated by Sanford and discussed at length during our meeting in Times Square back in November of 2008. Someone on the inside at Xyience found out about my meeting and sent me series of emails that broke the case wide open for me, detailing how plans were made to destroy the company piece by piece. I was bombarded with emails warning me about Frank and Sanford's master plan when I got back from the UFC trip. These dispatches had plenty of facts and insider information exposing the ongoing fraud. Tracing the motives of the main parties who perpetrated it all became much easier over the next few months.
Eventually Kirk Sanford's troubles at his former company, Global Cash Access, would become public knowledge when the Arizona authorities issued a scathing report about the company's troubled past with "mis-coding" issues related to credit card transactions and commissions owed to casinos that were never paid. So, it seems Sanford and his friends were bringing too much heat. Those still close to Sanford that still remained had to be ousted.
Then, Sanford set out to create a new GCA called "Sightline Payments." Here's an interesting advertising post for the company: Sightline Payments: Bunch of Zeros.
Well, I know they've got at least one zero, and his name is Kirk Sanford. He is a slick scam artist who is pegged accurately in circulating complaints about his character outside of the Arizona report. He even went as far as acting like an outsider looking in on the fraud parade he was the grandmaster of at GCA. He actually turned around and filed a ridiculous multi-million dollar lawsuit against his former employer. He claimed GCA's promise not to do business with Sanford and his friends was done as a deliberate attempt to smear his name so as to hinder him from developing a competing company. As if Sightline was going to sprout up overnight into a multi-billion dollar conglomerate? What dream world is Kirk Sanford living in, or what drugs is this guy on?
Kirk Sanford and his crooked track record would have been exposed one way or another, and GCA's willingness to distance themselves from him wasn't the only nail in the coffin. There's a thing called Google you might not be aware of, Kirk. Do a simple search for Kirk Sanford on any search engine. How far do you have to go to find links to his whole fraudulent history? And that's not even giving any creedence to the gossip saying he's a drunk to boot. I suppose you have to drink a great deal of alcohol to be so completely dishonest and deceptive to such good people.
The depth of that kind of conniving is really astounding to me. It's been such a long and painful process to prove everything, but it's all there now in the public eye. Yet, still, people like Kirk Sanford are able to go on and do business like nothing ever happened. Fertitta Enterprises is able to waltz right in and take control of Xyience, the company that sponsors their cash cow: THE UFC. They're able to claim bankruptcy even though the family itself is worth billions. The Fertittas are meanwhile still flying on their private jets, enjoying their lavish lifestyle, and filling up their deep pockets any way they can. The Fertittas found a way to cash in on bankruptcy with Xyience, and now it's obvious that they are trying to duplicate that whole process with Station Casinos.
When will justice be done? What will it take for a wise judge to step up and say enough is enough with this scam after scam mentality? How many people have to be hurt in the long run before the corruption stops?
When the wheels are greased, they don't squeak. Something tells me the Fertittas can be true bastards all their lives. They get a free pass to never be held accountable for their ruthless business practices. Just the mantra of their mob association and lineage is usually enough to keep them safe from getting truly busted. Nothing will get in their way, and they will envision and execute larger schemes that screw more people. It's inevitable that greed and power corrupts, and this is one brotherhood that is built on greed.
Perhaps the only saving grace in the long run will come when some of their fortune has to be handed back over to the victims they swindled to get it. The 18th of July, 2010 marks the 3rd anniversary of the initial filing of Xyience's $25 million defamation suit against me. I've done a lot since then to fight back and fight for the shareholders who lost family trust funds, college funds for their kids, and retirement income they needed to stay afloat. I've done my best to keep telling the story and keep fighting the legal fight no matter what. It's been a while, and I've had a bit of a break from it all, but now I'm back, and I'm not letting up until the job is done on all fronts.
No comments:
Post a Comment