BizRadio now Business 1110? Smoke and Mirrors? Dan Frishberg – sorry, but I’m confused…

On today’s broadcast of Dan “The Money Man” on BizRadio 1110 – is was reported that Dan announced that his broadcast would now be known as Business 1110 (not BizRadio).  After hearing that report, I tuned in to BizRadio.com and heard the on-line broadcast which seemed quite normal – just business as usual.  Then the questions began…

As a side note, when I was young I recall my Mom saying to me, “Boy, you just ask too many questions!”  I didn’t understand.  If you wanted to know something, how else could you get the answer other than asking questions.  She then said, “You know, you better watch out, someday you might just run out of words,” to which I replied.  “Well, Mama how many words are there?”  I guess somehow the questions have never stopped.

So with Dan’s announcement I began to think – wonder what the motivation is?  Keep in mind an earlier Houston Chronicle story reported the following:

“In order to reverse what injustice has taken place here, so that the victims of this fraud can be made whole, what we’re seeking is that the relief defendants relinquish their possession of assets to which they have no rightful claim,” said Timothy McCole,the SEC attorney handling the case.

Frishberg said he and Kaleta are no longer partners. (Although Kaleta was reported at his office as late as January 2010).  His firm and BizRadio will repay the debt under the terms of the promissory notes, he said.

“We’re eager to have them hurry up and appoint a receiver and get it going,” he said.

Despite Frishberg’s eagerness, neither BizRadio nor DFFS has made the payments required under the notes so far, the SEC’s lawsuit said. A receiver is likely to demand full repayment of the notes so it can be returned to investors.

Now, here are questions to consider (Mama would be proud):

  • Is this change BizRadio to Business 1110 a veiled attempt to avoid payment to investors as part of the SEC receivership and agreement?
  • Is Business 1110 the same as BizRadio and if so, does the operation of Business 1110 share in the BizRadio liability?
  • Salem purportedly bought 1110 AM back from Frishberg, where did that money go?  Did the SEC appointed receiver get any of those funds so that investors can be repaid?
  • Salem is supposed to be a reputable firm, wonder why they would enter into an agreement to lease the station to Frishberg considering the SEC scrutiny and attention?  Is there no other programming that could be broadcast on this Salem station?
  • BizRadio and Frishberg (along with related entities) were sued by Rehan Siddiqi for $18 million.  Is that business change (BizRadio to Business 1110) an attempt to avoid liability?
  • What liability does Salem incur since BizRadio apparently voided a lease/purchase agreement to Siddiqi?  Wouldn’t it make sense on Salem’s part to wait on any transfer until that lawsuit is resolved?
  • Most importantly, how does Frishberg “The Money Man” plan on making whole the investors who (as they put it) were part of a scam?  And, how is financially strapped Frishberg and BizRadio able to continue in his “new” format – Business 1110.
  • Oh, and where can I find Business 1110 on the web?  New format – old web site – old format.  Can someone please explain?

YOUR COMMENTS ARE WELCOME!

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5 Responses to BizRadio now Business 1110? Smoke and Mirrors? Dan Frishberg – sorry, but I’m confused…

  1. http://www.dora.state.co.us/Securities/pdf_forms/enforcement/mandel-noticecharges.pdf

    Chuck,

    It just keeps getting better. The above URL is from Daniel’s new found friend in Colorado Marc Mandel whom I understand is still on the new format. Is this a case of “birds of a feather…”. Daniel is a magent I guess. I just did a cursory search, but understand there is more in his past.

  2. Cag says:

    I hope you don’t get defensive about this because all I am writing is what “I” get from reading your website,
    This website is the strongest written, harshest worded I have read about another business man.
    The website leaves me feeling like the writer absolutely hates Mr. Dan Frishberg. When I read the information about him, it leaves me feeling a little uncomfortable, like the writer is enjoying and maybe even wanting to further Frishburgs demise. I am not saying that the writer is doing this, it is just the impression I am left with from reading the site’s stuff about Frishberg.
    Certainly this is your business and your website, it is just that after I read your site I leave with a really bad feeling that there is a lot of personal hate – not just someone reporting the actions of this guy.
    This is a comment I don’t need back, and I am not suggesting you change a thing. It just leaves me so curious, because your words about Frishberg feel to me that they’re filled with even more venom than the words written buy actual Frishberg investors.
    The way you talk about others ensures me that you are very thick skinned and you seem to like opinions, as you always give yours, so this is mine is mine:)
    You reporting all this is a good thing. It is just as a passer by to your site it made me feel uncomfortable like I was reading someone’s personal hate toward another man.
    Please dont beat me up for having an opinion. If i missed the meaning of your words, just take it as another’s opinion:)!!

    • Cag…thank you for your opinion. I truly appreciate it.

      To set the record straight, I have no personal ill will for Dan Frishberg, Al Kaleta, Ron Crider, Rehan Siddiqi – I live in Greenville, SC and have never had any personal dealings with Mr. Frishberg at all. If I have an edge, it relates to ethics and transparency in business. I have several times asked, via different mediums, Mr. Frishberg for an interview hoping that he will take the time and clear the air, when it comes to investors who have lost their assets, in some cases sold their homes, and otherwise are hurting. I would think that Mr. Frishberg would be a man of honor and would welcome transparency when it comes to his business dealings and license as an investment adviser. After all, Mr. Kaleta lost his license to serve as an investment adviser, so one would assume that Mr. Frishberg would be cautious and err on the side of openness rather than what seems to be the side of keeping folks in the dark.

      Of course, a blog is an opinion and I have tried to present the facts (as they are provided to me). I have had several emails praising the information as many investors feel that they have been scammed and the scammer has thus far gone unpunished if not undetected.

      I would welcome the opportunity for Mr. Frishberg to answer the questions that I have submitted to him in writing. I would gladly post them so that folks could move past this once they get a feeling for how and when their investments would be made good. Otherwise, I will have to assume that as more data comes to light, I am reporting on what most investors feel is a scam.

      Again, thanks for your comments and feel free to chime in…

  3. Timothy Hanes says:

    Mr. Gallagher,

    You will never get an answer from Dan Frishberg former investors are still trying to figure it out themselves. One day people come in the next day they are out of money because Dan was too busy being bedbuddies with Al Kaleta. And from all indications I have heard he has been at the office meeting with investors as late as about 2 weeks ago. Keep up the good work and I hope they nail this guy.

  4. Fred Morton says:

    Remember that until the FCC approves a transfer, KTEK still belongs to Frishberg & Company. The station is taking all of it’s broadcast day from Salem Broadcasting Houston (except for a 8-9 am show, and Frishberg’s “Moneyman Report” from 4-6 pm). AFAIK, no application has been filed for transfer of license. So right now, it’s Dan’s baby.

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