ingram latest

[amy1]

i have got this from the halesowen news website





EXCLUSIVE - Yeltz named in US Ingram Ponzi scheme lawsuit

2:48pm Thursday 21st April 2011 in


By Matt Maher »
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Halesowen Town Football Club has been dragged into an American lawsuit which accuses former benefactor Godfrey Ingram of tricking unwitting investors out of millions of dollars in an illegal Ponzi scheme.

It is alleged the ex-Luton Town star used the ill-gotten gains to fund a lavish lifestyle for him and his family, purchase properties while also investing in various businesses including the Yeltz and the controversial Ingram Soccer Academy.

The stunning claims appear in documents filed in Atlanta, Georgia, as part of a lawsuit brought against Ingram by businessmen Martin Stapleton and Christoph Goppelsroeder under the Racketeer and Corrupt Organisations (RICO) Act.

Yeltz fans will be furious that the good name of one of the oldest football clubs in Britain has now been embroiled in criminal proceedings in America.

Ingram has so far failed to file a defence and an application for judgement by default was made on April 1.

In a further twist, the News can also reveal Bluemax Ventures - a company owned by Ingram which is also listed as a defendant in the case - is facing eviction from its swanky midtown Atlanta offices over unpaid rent totalling more than $200,000.

Back when we first revealed details of the lawsuit last month, Ingram accused the News of “sensationalising” an “internal matter.”

But public court papers show he is facing claims on ten counts including fraud, fraudulent inducement, deceptive and unfair trade practices, unjust enrichment and breach of contract. Alleged violations under the RICO Act include misrepresentation, mail fraud, wire fraud and illegal diversion of investment and business funds.

The complaint, which covers 46 pages, alleges Ingram established the Landmark Enterprise - which consisted of Bluemax along with Landmark Express LLC and Capital Funding Inc. Stapleton and Goppelsroeder invested a total of $3.2million after being offered an attractive rate of return.

However, it is claimed the Landmark Enterprise was nothing more than a Ponzi structure, in which the duo’s investment was used by Ingram to prop up other businesses and fund his personal interests.

The complaint states: “These and likely millions of dollars and other fraudulently obtained investments unjustly and fraudulently enriched Ingram, his family and funded the expansion of the Landmark Enterprise.

“On information and belief, Ingram has used the investor proceeds he is able to solicit and funneled (sic) them away from intended business and into other sham companies and ventures such as Capital Express Funding, other investments such as Bluemax, personal investments such as the Halesowen Football Club, a “helicopter business” and other businesses such as the Ingram Soccer Academy.”

The papers claim Ingram first approached London-based Stapleton and Swiss businessman Goppelsroeder in the spring of 2007, claiming he was looking for investors and offering a return of 24 per cent each year. Both men made initial investments of $1million, with Goppelsroeder persuaded to invest a further $1.2million over the next 18 months.

But despite signing contracts, it is claimed neither saw the promised return on their investment.

In January 2009, Stapleton gave Ingram a written termination notice which should have seen his initial investment repaid within six months - with Goppelsroeder eventually following suit in November 2009, after expressing frustration at Ingram’s “pattern of non-compliance and deceit.”

If the court rules against Ingram, he faces having to pay substantial damages and could also lose seven US properties which the claimants believe were “unlawfully obtained” using their cash – including his home in Solonos Beach, California.

Meanwhile, following an investigation by the News which included work by reporter Paul Jenkins while on vacation in Atlanta, we can reveal proceedings have begun to evict Bluemax Ventures from their offices at the city’s Colony Square complex.

Papers filed by the company’s landlord at the State Court of Fulton County on March 17 and an eviction notice posted to the Peechtree Street office door demand a total of $216,584.14 in unpaid rent.

Ingram was a benefactor to Halesowen Town during Morell M**s*n’s disastrous reign before taking over at the Grove alongside his brother Graham when the club entered administration in September 2009.

But the club has lurched from one disaster to the next under their stewardship and Godfrey withdrew all remaining support following the News’ exclusive on the lawsuit, though Graham remains club president. A fortnight ago we also printed claims from an American-based soccer player, who alleged he and others lost tens of thousands of dollars at the now defunct Ingram Soccer Academy.

Halesowen Town were relegated from the Southern League Premier after drawing 1-1 with Didcot Town last Saturday.

[lutleyyeltz]

This isn't exactly "breaking news," is it?

[YeltzDoc]

In other news, Shergar still missing...

[lutleyyeltz]

Or Mafeking relieved.
This could be a good thread!

[old git]

Breaking news....Man has landed on the moon

[watsisnerm]

Breaking news....Man has landed on the moon

no he hasn`t

[watsisnerm]

i was believing most of it until i got to the last line... halesowen getting a draw!

[JohnC]

If you read the article in Amy 1's post this was April 2011. So not new news.

Should be buried like the Ingram \ M**s*n era.

[ZeeZee]

If you read the article in Amy 1's post this was April 2011. So not new news.

Should be buried like the Ingram \ M**s*n era.

Totally agree Mr C.

BTW, William Shenstone is dead.