Sometimes a Picture’s worth a 1000 words – BizRadio! And what about Elisea Frishberg?

They say that a picture is worth a 1000 words.  In this case it is!

With all employees gone except, as I understand it the show producer, it seems that with the flow of illegally gained money stopped the reality of an effective business enterprise has set in.  And the sad part is it didn’t have to be this way.

REALITY CHECK – Yes, Dan and Al used their fund raising experience to gain money in a fraudulent way from investors to support their lifestyle and to support BizRadio (the megaphone they used to gain more investors).  That, in and of itself, is likely enough to cause an implosion along with an SEC investigation and/or perhaps an investigation by the US Attorney and/or others.  But…they had one saving grace – the revenue generated from the RIA (a substantial sum on money – at one time).

IF (and this is a BIG IF) Daniel had done, what over the course of two years or so he said he would do, and put the revenue from the RIA into BizRadio – would he be facing ultimate (my guess now not confirmed) criminal charges?  Sure enough, his bookkeeping might have been sloppy and Al (seemingly with Daniels blessing) might have been obtaining investment funds under false pretenses, but could it have been salvaged if they had made BizRadio a viable investment?

Woulda, Coulda, Shoulda – nice to think about perhaps, but now it seems that those questions are irrelevant.  So here’s a more relevant question:

1.  What about Elisea Frishberg – will she be indicted for her role in this financial fraud?  How, you might say?  Well in an earlier post I shared with the audience that spouses are now coming under closer scrutiny for their roles.  Here’s an excerpt from an article that might shed some light on how law enforcement is looking at spousal activity.

Victoria Meisner, 53, was sentenced to 18 months’ imprisonment for filing a false tax return. She pleaded guilty in November to reporting $49,626 of total income in 2003, despite helping rack up more than $430,000 in personal expenses that year on a debit card belonging to her husband’s business, Phoenix Diversified Investment Corp.

Meisner’s case highlights one of the inevitable questions for authorities investigating Ponzi schemers and how they threw around their ill-gotten gains: Should family members whose luxurious lifestyles were funded by dirty money face criminal charges themselves?

Here’s the link to the full story:

From all accounts that I’ve received, Elisea was very active in the operation of BizRadio, in fact, most of my sources tell me (and I’m talking everyone says the same thing) that Elisea had a strong inclination to spend money.  One source said, “Elisea would go over the top for show when, in reality, it wasn’t necessary.  For example, we had a meeting where we were going to bring in Pizza and Elisea went crazy when she found out that it was just “ordinary” pizza.  She stopped the order and place an order for gourmet pizza that cost well over $100 and then there wasn’t enough.”

I suspect, from the comments from the Receiver’s report, that when credit card bills/receipts are analyzed – the lavish spending will come to light more clearly.  Likewise, no one can argue that Elisea had NO KNOWLEDGE of the BizRadio operations – as she used that to promote herself – her book and her show (which I understand failed miserably).

So, when it comes time to face charges (which I predict will take place) will Elisea Frishberg be included?  Did she sign tax returns that were fraudulent?  In other words, did Dan and Elisea report all the income that was used to support their flamboyant lifestyle?  Will any of this money that was fraudulently obtained be considered taxable income to the Kaleta’s and the Frishberg’s?

By the way, you might ask why I have left out Al Kaleta’s wife?  Good question.  Up to this point, I have not had one report from any source indicate that she was active in the operation of KCM, DFFS, or BizRadio and Affiliates.  That may be wrong, but thus far none.  Perhaps those who read and comment may shed some light on Ms. Kaleta’s role – if any!  On the other hand, most sources are clear that Elisea basically ran the place.

CONCLUSION:  The story, now becoming well documented, is still unfolding.  I am waiting to hear the result of the court hearing yesterday and unless the Receiver can take control of all the assets, I suspect the Involuntary Bankruptcy hearing will take place on the 10th of May (the last I heard).  For those in Houston or Dallas – if you know the outcome – PLEASE LEAVE SOME COMMENTS AS AN UPDATE!


6 Responses to Sometimes a Picture’s worth a 1000 words – BizRadio! And what about Elisea Frishberg?

  1. John Mitton says:

    what is going to happen to David Wallace?

    • That’s a difficult question. I suspect that David will not face charges as he appears to have been sucked up in Frishberg’s bs like many others. Further, I suspect that he’s cooperated with authorities in order to help them with any future issues that Dan or Al might face. If David were to be prosecuted it, in my opinion, would be for conspiracy since he may not have reported the illegal activity.

  2. BizzFree says:

    Elisea should go down with the ship….she was one of the driving forces behind everything. If you didn’t play “her” way you were doomed. The woman had Daniel by the B#**s and even threatened to withhold sex from him in front of the entire office because he didn’t want to do something she had planned.

  3. BizzFree says:

    guess you could call it another chink in his character.

  4. BizzFree says:

    look into the countless hours and company trade agreements employees had to spend on projects involving her 11-year old son’s band and daughter’s singing career. Trade that was supposed to be used for station purposes went to pizza parties for the kids school functions…creating websites for their kids benefit and creation of promotional items needed to promote them

  5. ex-employee says:

    I’m sure Mrs. Kaleta had little knowledge of what Al was doing (specifically) but Elisea was a different story. She was the joke around the offices at BizRadio because she was talentless and not very intelligent, but Dan thought she could do no wrong. I remember when she did her first radio-show, most listeners thought it was a poor attempt at comedy. As far as her motive for money, it’s true that she liked to play the part of a queen, and I had seen her, first hand, drunk with excitment when she got paid from BizRadio.

    Dan and Elisea were always scheming. Elisea asked me to help her start a non-profit organization – to give her ideas for her to raise money, set up a web site, etc. It sounded a little fishy and I was uncomfortable participating, but fortunately obtaining non-profit status scared her away.

    Wall Street’s “Bonnie & Clyde”.

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