Will that be cash, charge or scrip?
Would you buy an ATM which promised not to deliver cash? It sounds like a pretty dumb idea, but in fact there is a big demand for this time of product. For example, Kioskmarketplace reported that,
"The U.S. Department of the Treasury has announced the successful installation of EagleCash at 12 U.S. Army bases in Iraq and Kuwait. EagleCash, the stored-value card program launched in partnership with the Department of the Army, safeguards and simplifies U.S. soldiers' cash management while stationed abroad. EagleCash's smart card technology eliminates coin, currency, scrip, vouchers, money orders and other paper payment mechanisms and replaces them with a card and touchscreen."
But every good idea has its fraud alter-ego, the shadowy version of the real.
Davis Freeberg, who has a terrific website discussing kiosks, and www.Kioskscams.com. alerted me to the latest in the Cash Links business opportunity fraud. I had written before about the sentencing of the principals in Cash Links, but the recent press release relates to new charges in the Cash Link business opportunity fraud.
"The Indictment alleges that Alberto Ferreiras was one of Cash Link's hidden owners and directors, and that he committed crimes at Cash Link at the time he was on release from other, unrelated criminal charges pending against him in the U.S. District Court for the Eastern District of New York. Ferreiras is charged with one count of conspiracy to commit mail fraud, and eight counts of mail fraud. The Indictment alleges that Leslie Rattet participated in the conspiracy to defraud as a Cash Link salesman, and that Rattet committed the offenses while on release from other, unrelated criminal charges pending against him in the U.S. District Court for the Southern District of New York. Rattet is charged with one count of conspiracy to commit mail fraud, and three counts of mail fraud. With respect to each count brought against them, Ferreiras and Rattet are alleged to have committed offenses while on release, under Title 18, United States Code, section 3147." (my emphasis)
The entire indictment against Cash Link's hidden owners, Alberto Ferreiras is here.
The press release goes and states "Prior to the filing of the present charges, four other defendants were convicted and sentenced for their federal offenses for their participation in Cash Link. Leonard Needelman, Cash Link's director of operations, received a sentence of 97 months' imprisonment. Alan Levine, Cash Link's president, received a sentence of 70 months' imprisonment. Jason Kowal, a fraudulent Cash Link reference, received a sentence of 77 months' imprisonment. Leland Balber, a Cash Link salesman, received a sentence of 42 months' imprisonment." (my emphasis)
Could a search of Florida database uncovered the fact that Alberto Ferreiras was Cash Link's hidden owner? Could one find the unrelated criminal charges against Alberto Ferreriras?
The last question is easy to answer. Using the United State Pacer system, searching all District Courts, you would have determined that there were two criminal charges in the State of New York against Alberto Ferreiras.
But the second question has a less than satisfactory answer. While Florida's corporate database is excellent, it cannot determine who is a hidden owner. If you searched it for "Alan Levine", as a director and officer, you would have noted the large number of corporations that Levine was a director of, making it likely that he was only a nominal director and officer of Cash Link Systems. Unfortunately, only a through going examination of the operation would have revealed who the true owner was.
