When I see the word "FRAUD" in reference to any company with whom we at Laguna Woods Village do business such as Connexion, KPMG, and so on, I get very nervous.
This is another illustration of how knowledgeable "we" (PCM and Board Members) are in analyzing business decisions. Should we have foreseen this when we started a relationship with Connexion? Who was involved? As I recall this was primarily a result of PCM via Russ Ridgeway. Didn't like the "SMELL" of it then and don't like the "SMELL" of it now.
Who was the real beneficiary of the original Connexion involvement; PCM? GRF? Russ Ridgeway? The HOA Owners (LOL)? ????
I wonder if we have any obligations to pay off Connexion's debt?
Wonder if our IRS status has any connection with Connexion?
Another illustration of "WHO's" pocket gets picked. It surely won't be PCM's regardless of how bad their advice might have been. When will the Directors learn that PCM has no incentive to make our corporations their highest priority. They are being taken for suckers, and I was included in on that as a board member in 2003.
Mr. Grundke refers to the WRAL Technwire article: Cary-based Connexion Technologies declares bankruptcy which states among other thanks that:
The company listed debts of up to $500 million.Dow Jones news reported that Connexion said it has $500,000 worth of assets and added that Connexion is seeking court approval for $4 million in bankruptcy financing from UniCredit Bank..The suit also alleges that DirecTV quit doing business with Connexion because it "learned of alleged fraud committed by the defendant," Dow Jones said.