Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Whodunit? Two Stockbrokers Murdered in Jersey; Reference -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (40)	11/5/1999 12:02:00 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 79

Re: Inside the world of Alain Chalem The following are tidbits that I've come across from communicating with various people about this case: The mysterious third partner, the Clifton man, is most probably Joe Logan. Al was the mastermind and Joe was his right hand man-- the man who did the "deeds" for him. Al would find a good company with a good idea and charm the hell out of you. He'd tell you how wonderful your company was and how he had "connections" that could get you up and running on the stock market, and how you'd be a principle and major shareholder. Sure enough, whereas you may have been trying for many months to get venture capitalists to just give you an appointment, Al was somehow able to finish all his DD and get you the needed support in weeks. Everything was done in stock. For example, if he wished to buy the rights to something, say for $1M, he'd use one of his tout sheets to pump up one of his stocks and give you the appropriate number of shares, with a one year restriction. Of course well before the time the one year rolled around he had resold the rights for at least double to another company he had set up and pocketed all that money... while you watched the stock in the original company sink to pennies. Al was the type of guy who had an entourage. Joe Logan and Kimberly Scarola were mainstays. Joe would even open the car door for Al. Al had many possessions, but never had a thing in his name. For example, he had a yacht in Ft. Lauderdale at Hyatt pier 66, a condo in FL, a house in the Hamptons, Alan's Acres, Heartbreak Hotel on Hunter Mountain, etc. He was the one who paid for the house in Colt's Neck, which he bought for Kimberly and put in her father's name. Al and his group were constantly traveling back and forth to Florida, supposedly always without reservations. Back when KIWI was around they flew that airline for free as Al supposedly had a stake in it. Al loved his dogs. He was the type who would eat at the Palm and order a steak for his dog. Maier Lehmann was reportedly enamored with Al's business acumen and would do whatever Al asked him to. However, looking at Maier's past brushes with the law, it looks like he also had his own irons in the fire. A few other names that come up in relation to Al are Mark Palestine, Alan Conklin ("Little Al"), "Smitty", and Mark Palestine. Recall it was Conklin and another man who found the bodies. If that other man was not Logan, it was probably Smitty. Others on the west coast associated with Al include Joseph Dunn, Terry Marsh, and Barry Witz. Dunn was a guy who knew how to get shells, and the other two were investment banking types who get money and the entity up and running. - Jeff