“I took a bullet for Daniel!”
I can’t begin to tell you how many times I’ve had that phrase stated to me by folks I elect not to mention by name. But, the one that, beyond the phrase, was consistent – I came from Al Kaleta’s mouth. Did I personally hear it? NO! But, either a lot of folks are lying or Al felt that his agreement with the SEC was the equivalent of “taking a bullet” for Daniel Frishberg.
But why? Why would you, if you were not guilty of some wrong doing, lose your license and be banned from investment activity? What motivated Al Kaleta to take that ‘bullet’?
So I began to look a bit more deeply…and my gosh…well I’m amazed. Starring any of us right in the face was what I’ve come to observe is the scammers scam. Now let me be clear…I’m providing this link for two reasons: (1) it is the example of how easy it is for a scammer to scam; and (2) it’s amazing how easy it is for those who would perpetrate a crime to get legitimacy from the media. Check out this youtube video (but remember to come back here for comments…) – video of Al Kaleta.
AL’S WORDS: “Well, the thing that’s happening right now is that we had such wonderful time in the market, and there were such high returns that if you hear today of such extraordinary returns, good deals, things that are going to make you instantly profitable in your investments – they are probably a scam!”
WHAT DID I JUST HEAR? “They are probably a scam.” Al – now if that is the pot calling the kettle black! December 9, 2008 Al Kaleta is talking about himself and the scam he was actively running under the guise of helping others avoid scams. AMAZING! But, not that surprising as I’ve seen that over and over – just ask Gordon Grigg – of course to do so you’ll have to write him in prison. Back to Al’s interview…
AL’S WORDS CONTINUED: “Your best bet is to call Fox News. Call to the hotline and ask for advice. Is this a scam? Could this be a scam? And they will direct you to the right professional to give you advice.”
QUESTION: Since Al Kaleta was busted in late 2009 – less than one year since he made his TV appearance, I wonder if people in mid 2009 took Al’s advice and called the Fox News Hotline? I wonder if Fox News ran a story on Al’s troubles with the SEC and warned their listeners that Al, Dan Frishberg and BizRadio might need to be avoided? Honestly I would appreciate it if someone could answer those questions. Again, back to the interview…
HERE’S MORE OF AL: Question asked by the Fox News representative…”What returns would be considered ‘too good to be true?'” AL: “Anything above 11 – 12% is extraordinary. You can reasonably get in bonds 10% – you can find investments at 8 or 9%, but when you start hitting returns of 15, 18, 20, 25% and it sounds so unrealistic to you or that it’s so quick… Nothing is quick – shy away from it.”
AS I RECALL… Al’s investment scam went something like this – investor – you get 10% – Al gets 12% and his profit is the 2% spread. Seems to me he just used Fox News and his interview to set the standard so that his scam didn’t seem like one. Sad, but that’s part of the scam artists illusion.
BUT THERE’S MORE: “You know the other thing you have to be careful of are these Ponzi schemes where they come in and – pyramid schemes – where they gather 15 or 20 people and everybody – they put in $100 and build a pyramid … typically these are not something you should get involved with in this marketplace.”
EXCUSE ME – But thanks Al for sharing with the listening/viewing audience not to invest with scam artists like you. Oops…it wasn’t disclosed then what you were doing to those who invested and trusted you. I have to wonder what Al was thinking when he so clearly was talking about his role in a massive investment scam that included Dan Frisberg and BizRadio?
FINAL THOUGHTS: I shudder as I write this blog – because I have been told on more than one occasion that Al Kaleta is a man to be feared! So here’s the story – after hearing this multiple times lets just let the cat out of the bag. Al is reported to have told several individuals that he should not be crossed. Apparently claiming to a military hero, the story goes that some men under his command in Germany crossed him. But Al is not a man to be crossed. So, he (sorry but this is the story that I’ve been told by different folks), planted Heroin in their possessions and then reported them for inspection. When the drugs were found they (the men that crossed him) were sent to prison. Moral of the story – don’t mess with Al.
So I have some questions:
- Is Al truly a military hero?
- Was Al (as a military colonel) ever stationed in Germany
- Were there ever men under his command that were busted for drugs and sent to federal prison
- Or, is Al just a blow hard?
- Perhaps law enforcement should look into Al’s assertion to see if Al should either spend time in prison for his action – who knows?
If by the way I never write another blog…check to see if Al made a trip to the Carolina’s. Come on Chuck…he’d just send some of his buddies to take care of business… I should have thought that one through.
Regardless of the answers to the above…Al was telling the truth in his interview…little however did people know that Al was speaking from experience as a proficient scammer!
NEWS…JUST IN: BizRadio announces a strategy session. WHAT AM I MISSING HERE…? Kaleta is busted by the SEC. Investors are screaming over being deceived. Frishberg has likely perjured himself with the Siddiqi mess. And, yet they have the audacity to promote an investment STRATEGY SESSION. Sometimes folks become so caught up in their own illusions that they can’t see reality. I predict PRISON for both Kaleta and Frishberg.
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