Thursday, November 19, 2015

The Arcadia Peacock Ponzi: Catching Up With The Notorious GemCoin Gang

No amber mine.
It has been a little while since we all gloried in the legal demise of Steve Chen, the fellow alleged to have run various GemCoin ponzi schemes and scams designed to rip off recent Chinese emigres of their cash and American dreams. It all came crashing down as an alphabet soup of Federal agencies raided his USFIA headquarters, in the process seizing things like bank accounts, diamonds and plentiful loose cash. News that brought considerable unwanted attention to Arcadia.

But after the FBI/SEC (etc.) raid and the rest of that excitement, things got kind of quiet. The Federal prosecutorial sausage makers assumed control of the process, and obviously they have taken their time. Thoroughness and care being their watchwords. And who am I to complain?

Besides, and as you will soon see, it now turns out GemCoins were not backed by amber mines after all. Rather the Chenster made all that stuff up. Probably didn't even tell his stooge Mayor John Wuo that the whole ridiculous story was a bunch of lies, and that most of those supposedly precious amber stones laying all about the USFIA offices in such copious quantities actually had the equivalent value of costume jewelry.

A complete and utter fraud as it turns out. One that raked in $32 million dollars from the gullible and naive before the Feds finally put an end to the sordid mess.

And it was the Feds that had to do it, after all. Arcadia City Hall somehow overlooked the entire massive GemCoin ponzi scheme happening right under their noses. Perhaps they had more important things to do.

Anyway, our good friends at BehindMLM.com have been following up on these important matters, and yesterday filed a hilarious report on the happenings since that fateful day. I thought I would post a little bit of it here, then guide you to that rather amazing blog for the rest of the goings-on.


For the rest of the story, click here.

The Old Regime Reunites for Larry Torres

The night that Larry Torres was elevated by a handful of voters to his current seat of glory on the Pasadena Unified Board of Education, his dearest supporters gathered with him to help watch the voting results.

And who were these supporters? We have this photographic evidence.


Let's see. In addition to Larry himself we have your John Buchanan, the former Mayor and City Councilman whose 8 years of futility in office is highlighted every time another pipe bursts or further evidence of Sierra Madre's struggles with potential insolvency surfaces.

Then there is Occidental College professor Peter Dreier, a gentleman whose work on the $15 dollar minimum wage became somewhat controversial when it was later revealed that the hard working underclasses of Los Angeles County would not be getting their $4 an hour raises until 2020. Half a decade away.


In this picture we find Tom Selinske, who recently lost his attempt to further his troublesome work on the PUSD Board of Ed by failing to get elected to a seat on whatever it is that runs Pasadena City College these days.

And isn't that Bart Doyle himself a-sitting there? Goodness gracious me. Quite a bunch.

Just so you know what it is you might have voted for.

sierramadretattler.blogspot.com

25 comments:

  1. I can't believe they only found $20 million. How many Gemcoins did they find? That's where the real money is. Maybe they should check Wuo's bank account.

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  2. Well well well, what a line up of criminals you have shown us this fine day. Too bad there isn't a law about lying, we could have some of Sierra Madres criminals being held accountable for the mess were in.

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  3. Where is this count down to the win taking place? Looks to me like an art classroom. Not sure how you have lega access to that without signing up and paying rental fees unless of course it is of a PSUD teacher who supports Torres and then it would be highly illegal use of publc funds. Not sure what the hourly rental for a classroom is, but it covers custodian opening and closing even if you are the teacher with a key, electricity, etc.

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    1. I think that crowd believes they own the schools.

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    2. Could be at the school mikala Rahn runs

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  4. We can see that old Bart is keeping his fingers in the pot. Also, didn't see our old mayor giving a hi five, guess he didn't want to be to premature.

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  5. Bart Doyle is the worst person for Sierra Madre ever.
    How anyone can associate with the phony is amazing.

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    1. If that bunch had their way One Carter would be a hillside of McMansions and the monastery project would be well underway.

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    2. My vote for worst of the worst for Sierra Madre goes to John Buchanan. The good news is that you can always tell these people by who they associate even without knowing their views on any particular issue. Buchanan has been one of the worst if not worst City councilman Sierra Madre has ever had.

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    3. Sierra Madre would be past the point of no return if Bart Doyle and John Buchanan just had a little more time to continue with their policies. Thank God for Denise Delmar.

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    4. 6:53, add a four story downtown to that list. Streetlights, underground parking, no hillsides - all the ugliness money can buy. Doyle and Buchanan.

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    5. We could have been Rancho Cucamonga!

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  6. I'm hoping the election of Larry Torres was the last gasp of those folks. It slipped by people because the voters were complacent. Sandra Saraganian would have done a much better job. Buchanan, Drier, Torres, Walsh, Doyle all have some pretty damaging ideas about the direction of Sierra Madre. That's why they must be kept off the levers of power at all costs.

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    1. Between Torres and Saraganian there wasn't a good choice - but Torres had an idea about what was going on in the schools.
      I wasn't happy to vote for him, but would have to again considering the alternative.

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    2. The fact Selinske lost the Pasadena City College election was huge. The Herr Dreier brigade is fading fast.

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    3. That was a huge defeat for Dreier and the rest of those people. Grinning Tom Selinske was by far the best candidate they had and he lost. Wasn't even close once all the votes were counted.

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    4. Buh-Bye, Selinske!

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  7. BTW, thanks for the 4:00 a.m. posting!

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  8. I didn't know that a school board election would bring out the VIP' s. It's so interesting to see who came to the election party! Makes it more interesting to connect the dots, doesn't it?

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  9. I didn't know that a school board election would bring out the VIP' s. It's so interesting to see who came to the election party! Makes it more interesting to connect the dots, doesn't it?

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  10. Doyle, Buchanan, Selinske, Dreier! Birds of a feather do flock together.....

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  11. It's deja vu all over again

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  12. November 20, 2015 - $64 Billion dollar market smashed another triad arm has been cut off from illegal money flowing in and out of Communist China some of course flooded America and fed a Real Estate Boom by Chinese. http://money.cnn.com/2015/11/20/news/china-underground-banking/index.html

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  13. Any news on the $100 million lawsuit against John Wuo and others?

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