| Subject: Last message from Madame / closing procedure |
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Anonymous
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Date Posted: 10:57:40 04/04/02 Thu
She should ask sub-managers and members to refund the referal fees...and KS to sell his house
"Realize that there is a serious great amount
of challenges that keeps arising one after
another as a series of obstacles that stops the
good result from many of our efforts and hard
work from happening. No matter how hard we
try, as we come so close to a result, something
always occurs to either delay or destroy the
entire transaction. From where we are, we
understand way before others about the worse
outcome of the world financial situation in the
days to come. While many govt. or mass media
agencies are loudly promoting the return of a
growing or recovery economy, we know by the
fact that it's only a temporary stage with
govt. stimulate program. The next 2 years of
the world is definitely a disastrous period for
everyone on earth with the war that is about to
be announced between the U.S. and couple
nations. (I'm not talking about politic here
but rather sharing with you what I know and
what I am preparing for.)
"This is the darkest period for all of us here
in international financing. Things are not the
same as before; but worst of all, we are taken
from our hands the right to control the usage
or moving of our own funds. I have never seen
anything like this, where promises from top
major banks' are not followed through or can't
happen. Schedules of payment are not kept.
New banking compliances are coming up everyday.
It took lots of work and cash expense to meet
one new requirement for compliance from the
bank. The next day we found out they already
changed the rule and the new requirement is in
place. Liquidation of assets became almost
impossible now a day because no investor is
willing to release a large amount of cash in
their personal holding. I understand that most
of you don't want to believe what I am saying
here or think that I'm bringing up new excuses.
Whether you want to believe or not, it's your
own choice, but the war is spreading and high
investment projects have stop paying. We're
left with not many choices. It's so easy for
banking industry to join the declaration for an
act of war so they can claim no further
responsibility for their failure to deliver
payments to us as promised.
"What should I do now? Please put yourself in
my situation and give me the right answer.
What should I do now, when no payment is coming
in as expected and at the same time my people
are waiting for their payments down the line.
This is exactly what happened in the financial
industry with the global domino effect. Cash
is dried out, investor's faith has faded away,
bankers are scared to make any aggressive move
on confirmation or releasing fund, the entire
picture of the financial industry is getting
worse and worse with less and less moving
transaction of funds. When the volume of cash
is slow, the economy is stuck. We're hurt
badly and the investment industry is severely
sinking down. There's no hope for the recovery
in the next 6 months. By constantly changing
the rules and delaying all the movement of big
funding, the govt. has robbed us of a golden
chance to bring back a fruitful opportunity for
the recovery of the world economy.
"As a leader of our team and as a responsible
person, I had gone through a tremendous amount
of pressure to work and find a best solution
for our team. As said above, no matter what we
did, everything is stuck. None of our
colleagues are making it. I've heard lots of
rumor about other programs that are paid on
time, please try them out and be aware that
more than 99% of them are cleverly arranged
Ponzi scams.
I understood concern and complaints from some
of you as managers, but there's no need to
spend 1-2 hours a day talking to you on the
phone when I don't even have a sure solution
myself. The land that I sold at a dirt cheap
price could not bring me the cash I need
because the buyer never got the fund from his
own funding institution to close the escrow.
His loan was approved but fund was never
disbursed from the Banco National de Paris.
The payments that we are expecting (from solid
pay order of prime banks) never arrived because
of many different reasons. Just as the rest of
the industry, we're left with promises and hope
that things will happen in the next couple
weeks. At the same time, we're facing with
responsibility with our guys at BFG. . . .
"***Closing Procedure:
We have gone through many review and
consultation meetings regarding the closing of
BFG and the refund procedure. Unfortunately,
our legal advisors disapproved our proposal to
do it through e-mail. They arranged the
procedure to be done through a mailing process.
Sarting April 9th, the law office that
represents us will mail out to each of our
members a release and settlement form. I will
prepare a next newsletter to inform all
managers and members with all the details
regarding to this subject and other payments.
Tonight, Ray Sowards will meet with us to go
over the whole things. At the same time, we
will keep making payments to our managers and
missing Oct. or before.
"***Refund:
According to our attorneys, instead of us
sending the refund directly, it should be
placed in the attorney-client account. Once
the general Settlement and Release form is
signed and received at our attorney office, the
refund of the full principal will be sent to
the account holder.
"***Any additional bonus may come directly
without obligation from the former Bradford
Group Management Team as the gift. There's no
form needed to be sign.
"OUR CASH SITUATION:
"I'm bitterly and painfully telling you that
payment from several different projects had not
arrived. There's no need for me to explain
now. Please understand that this problem
didn't happen only to us but to almost
everybody in the industry. If you want to
know, just walk to a prime bank, asking for
their assistance on receiving or moving a large
fund in and out of your account. It will be
helpful for you to learn from your own banker
about the new restriction in banking business
for international money transaction and the
difficulty that all banks are facing nowadays
from not having sufficient fund to pay their
investors like us. Unfortunately, we are
trapped between the chaos of these top agencies
and became victim of these troubles. On the
other hand, troubles happened to us
automatically brought troubles to you and your
members as well as the rest of our BFG members.
Even though the BFG is receiving no fund to
pay, however, with the blessing from the
almighty power, we are able to organize and
generate fund from our own assets. The size of
the fund is not as big as we wish, but it
should be big enough to help us making good
payment to you. . . .
"Lastly, I thank all of you for hanging in
here. Give me few more weeks, you will see a
better change in result. Please keep praying
the Lord for all of us, for the world, for your
group members, for the BFG, for you and me as
the leaders of our team. With our courage and
patience, we shall defeat the negative force.
"With my deepest appreciation and sincere love
to you all. Please tell your members that the
BFG will continue to pay even when everyone
will stop and the war is about to expand.
"Bambime
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