Cliff Johnsen - OCR transcript of letter in unsecured creditor claim.
Claims Register 07-50934-wsh Plasticon International - two filings to date
jimewescamp.250x.com
Address and telephone details deliberately omitted.
Cliff Johnsen
...............
...............
...............
US Bankruptcy court
RE Plasticon Intl
Please accept my claim form. I loaned the company $420,000 which was due on Apr 1 2005. They never paid me.
My case involves FRAUD, in that they were supposed to escrow collateral stock for my loan. Many times I asked for the location of that collateral and they never would tell me. The truth of the matter is that they NEVER put it in an escrow and it was NOT available to me when the loan went into default. There was FRAUD in many other aspects of the loan, violations of many SEC and banking regulations.
Finally, about 8 months AFTER the loan was due, and when the stock had become virtually worthless, they gave me some stock which they claimed was the collateral. Today it is worth $15,000. When they gave it to me, it was restricted- meaning it couldn't be sold unless a Form 144 could be done. My loan papers did not say anything about the collateral stock being restricted. The company refused all cooperation to make the conversion to free trading under the 144 rule. After two years had passed, the stock finally converted to free trading. This happened about a month ago, 1 still have the stock.
I plan to sue them for fraud, along with the regular default items. Copies of the notes are included.
Cliff Johnsen Signature
5-23-07 |
