A mentor of mine had a favorite saying, “No good deed goes unpunished.” I have to admit I hated that phrase, but based on the comments I’ve been receiving this case is a real quandry. Personally, I have no position on the case as my objective is to open the doors for discussion. However, if you look toward the end – there is another comment that was made that I’ve elected to include in the blog without, of course, exposing names.
On July 24, 2009 – Barbara Doreen House filed a lawsuit against Daniel Frishberg – BizRadio – Elisea Frishberg – Albert Kaleta and others for fraud and misrepresentation, breach of fiduciary duty, and conspiracy. The House complaint was amended in a filing on February 9, 2010.
Her complaint is here: Plaintiff’s First Amended Petition
The response from the Daniel Frishberg, Elisea Frishberg, Albert Kaleta etc. is here: Amended Answer and 3rd Party Action
Is this the beginning of what might be many lawsuits related to the losses investors have experienced? Or is this that act of someone who made ineffective choices?
Read the Petition and the Answer. I’d would appreciate your comments and opinions.
A COMMENT MADE VIA EMAIL READS AS FOLLOWS:
I find the factual scenario interesting in the manner that Frishberg and his wife allegedly infiltrated and induced that amount of money to be invested. Moreover, it appears that there is a common theme which seems to be occurring with what investors are told about their investment, and the manner in which the money is actually invested. It also is clear that this is the tip of the iceberg, so to speak. I wouldn’t be surprised at all if a bigger Ponzi scheme comes out soon. It just doesn’t make sense that Frishberg couldn’t return an investor’s funds at this small a level, particularly if the funds he and his companies manage are so much larger. Why are the Defendants fighting the litigation so vigorously instead of just returning the money…if it really is a legitimate investment, wouldn’t the funds still be somewhere reachable? Seems to me that the Defendants are fighting the lawsuit so vigorously because they cannot return the funds.
Perhaps Dan, Elisea, Al and the other entities were not at fault. Perhaps “No good deed goes unpunished,” as evidenced by this comment made anonymously.
Talk about fraud! In this case, Kaleta and Frishberg are the good guys. Harvey House is the rat. The law suit is crammed full of lies and misrepresentations. Barbara has the emotional maturity of a 2 or 3 year old child and can be manipulated on a whim. This is a fact. DFFA did their best to protect her and her money with income producing bonds, at least in the beginning.
Barbara was not capable of living alone or protecting herself financially. She was moved into a very nice home which she could easily afford on a sustainable basis based on her interest income. Harvey the limo driver saw an opportunity to marry into big money and he took it. Barbara’s money was squandered within a couple years by Harvey.
Very sad story for what should have been a nice life for Barbara.
YOUR COMMENTS WELCOME…and I wonder if there are any other investor lawsuits that have been filed?