When it rains it pours fraud in Laguna Woods Village

LETTERS

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.

Connie Grundke

Editor’s Note:

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.

If you would like to make a comment about a specific news article, editorial or commentary and have it considered for publication in the CotoBuzz Journal as a Letter, Photo or Video Clip  to the Editor, please send it to buzz@cotobuzz.com --- or mail to Letters to the Editor, c/o CotoBuzz, P,O. Box 154, Trabuco Canyon, CA 92678 Letters should be brief, and may be edited for clarity and length. All material become the property of CotoBuzz Journal  and may be republished in any format. Please include your full name, mailing address and daytime phone number (your number will not be published).

RELATED STORIES

Laguna Woods Village Warnings about Tax-Exempt Status Fall on Deaf Ears

This is an example of IRS Commissioner Steve Miller objectives in establishing honesty and integrity with the oversight IRS Form 990. PCM/GRF has never been honest and compliant with this Form 990. This is the reason they have been under the radar. Not as they say "IRS is cracking down on gated communities" This is another GRF cover-up of their lack of oversight. It could cost the directors millions of dollars for their gross negligence. See IRS Cose 4958 or other attachme

Laguna Woods Village In Witness Protection – Changing Names to Protect the Guilty

To: GRF, United, Third & Fifty Directors, Leisure World Laguna Woods Homeowners

Re: TRANSFORMATION OF LEISURE WORLD TO LAGUNA WOODS VILLAGE A FICTITIOUS NAME.

The transformation of Leisure World Laguna Hills occurred when Golden Rain Foundation (GRF) changed the Home Owner Association (HOA) Tax Code 528 to the Social Welfare Tax Code 501 (c)(4).

Corporate Governance 101

The Fox Guarding the Hen House