farr 280 banner ad

http://www.dryuv.com

http://www.lymanmorse.com

c c 30 banner 6 17

http://www.mauriprosailing.com/

http://www.quantumsails.com/

weta banner 2 9

seascape banner

BBY_SA

torqeedo small ad

mx ad

gmt banner ad

http://www.shaw650.com/

west marine 160 x 250 ad 6 10

sail fast banner ad 6 10

yellow banner

sound ad 4 23

karver ad 1 14

pyi banner ad

landfall 6 27 ad

http://www.westmarine.com/timers/ronstan--clearstart-sailing-watch-black-red--15213648?cm_mmc=DS-_-Sailinganarchy-_-RonstanWatch-_-160x160Red/

schwab tall banner ad

ner 2

http://www.crowleys.com/

Race-the-Cape-Web-Graphic-2014

b g banner ad

VX-One-550x150-Bnr_V3

tan 55 banner ad 1 21

Gunboat 60 sailing in Annapolis, MD.

mcconaghy top banner 12 12

mauri 3 1 SA-Top-Rotate

torqeedo top banner

Posts Tagged ‘IRS Audit’

Article Separator

We noted the other day that the wolves are again circling embattled First Marblehead CEO, Sailing Anarchy hater, and opponent to free speech everywhere, Daniel Maxwell Meyers.  The past half a year has seen Meyers take hit after hit after being nailed personally for an over $50 million-dollar judgment when a Boston judge found he’d acted in ‘bad faith’ in a stock deal with a former friend and partner.  A couple of months later, First Marblehead barely escaped delisting from the NYSE when the FMD share price – once trading at over $60 per share – couldn’t stay above one dollar.  Just the other day, FMD reported lower-than-expected earnings, getting downgraded by the only analysts still tracking the now penny stock.

But that all pales in comparison to the latest allegations that First Marblehead may be required to cough up some $300 Million after improperly taking avoiding taxes on the sale of a Trust certificate; we reported the other day that the IRS is auditing the firm now and that one law firm is already looking into potential securities law violations; now another is jumping into the fray.

With FMD’s market capitalization only around $100 million and less than $200 million in cash reserves, the IRS’s determination may send FMD straight into the trash bin; the same place First Marblehead’s expensive college loans and student load securitization scheme has sent so many college students’ credit over the past decade.

So why would FMD Board replace Meyers as President of the company just a couple of days ago?  Does that move take restrictions off his ability to buy or sell shares that have plummeted in value?  IRS: Are you watching?  We hope so.

 

August 20th, 2013 by admin

Gunboat 60 sailing in Annapolis, MD.

sb kh banner2

ullman banner 4 15

predict wind banner ad

cci banner ad

http://www.westmarine.com/timers/ronstan--clearstart-sailing-watch-black-red--15213648?cm_mmc=DS-_-Sailinganarchy-_-RonstanWatch-_-160x160Blue/

http://www.motivetrimarans.com/

anchor new ad

ropeye banner 3 25

FSS_SA

uk ad 4 3

fisheries side ad 7 22

rbs banner ad

toro 34 banner ad

http://www.camet.com/