A summary of key research conclusions we are releasing in this report include: Note: Neither Banc Of California or its executives have been named in any government indictments. To start with, Mr. Brownstein has received an undisclosed loan from BANC's senior-most officers via Camden (below). If you have an ad-blocker enabled you may be blocked from proceeding. The missing woman's ex-husband said he received a phone call from a Securities and Exchange Commission official on October 21. Jason Galanis and his infamous father, John Galanis, have a long history of secretly gaining control of banks and public companies via front men, looting assets, and leaving unsuspecting investors and taxpayers with hundreds of millions in losses. Anyone with information that could help investigations should contact the Los Angeles Police Departments Missing Persons Unit at 213-996-1800. The 2013 transaction, secured by Mr. Brownstein's Los Angeles mansion, appears to finance his outside business ventures (as indicated by the address of his trust, which differs from that of other deed records). The mere presence of a bank leadership team associated with Galanis should send diligent investors running for the hills. Then, on October 29, FBI agents raided her home carrying away various files; they had been bracing to find a crime scene there, according to local reports. Galanis, the son of reputed white-collar criminal John Peter Galanis, was once dubbed 'Porn's New King' in 2002 after his company purchased iBill, which at the time was the largest processor of credit card payments used to procure pornographic material online. I'm hoping they find her and she's fine, but that's about where I stand.'. ***MISSING*** The Los Angeles Police Department is requesting the publics assistance in locating a missing 39-year-old woman from Downey, CA. A Bevy Of Related Party Transactions That Benefit Insiders. He said he then went to pick up the pet from a couple "who said they had just found it roaming around on their floor in the hallway.". Our belief is strengthened by the striking paralells between BANC and Galanis' Gerova Financial which left unsuspecting investors with enormous losses as part of a giant fraud. That is why we think shareholders should be dismayed to discover that BANC has failed to disclose its recent hiring of none other than COR Clearing's Carlos Salas in a "Consulting Role as Chief of Staff" to "recommend governance, operational and process improvement." BANC's securities portfolio has grown by nearly $2 Billion since the end of 2014 and now exceeds 25% of assets. The author makes no representation as to the accuracy or completeness of the information set forth in this article and undertakes no duty to update its contents. Were just hoping for a miracle and that she comes home., ACCUSATIONS AGAINST HEIDIS BOSS, CONTINUED. BANC has also expanded into insurance backed lending and insurance premium finance (first referenced in its 2013 10-K). 'So, I'm just, I'm totally bewildered by this. Heidi Planck's ex-husband claims her boss wanted her laptop The firm's last reported SEC (U.S. Securities and Exchange Commission) status is listed as "Approved", with a . The sale of the bonds was also supposed to have generated funds that were to be used for tribal economic development purposes. The grass is always greenerin the Hauts-de-France region. It is bounded by the rgions of Normandy to the west, le-de-France to the south, and Grand Est to the east. Anonymous tipsters should call the Los Angeles Regional Crime Stoppers at 1-800-222-TIPS (800-222-8477) or go directly to theCrime Stopperswebsite. "The answer to Heidi's whereabouts lies with her boss, Jason Sugarman, and his company," he said. But most shocking is that Jason Galanis and Hugh Dunkerley orchestrated the Tribal Bond Scheme out of a Burnham officelocated in the same building as Banc of California's corporate headquarters. Anyone wishing to remain anonymous should call the Los Angeles Regional Crime Stoppers at 1-800-222-TIPS (800-222-8477) or go directly tohttp://www.lacrimestoppers.org. 'He told me that he just wanted one more time to talk to her. SON 'WANTS TO SPEND BIRTHDAY WITH HIS MOM'. COR, Steven Sugarman, and Carlos Salas denied the whistleblower's accusations. Hauts-de-France, rgion of northern France created in 2016 by the union of the former rgions of Nord-Pas-de-Calais and Picardy. This now infamous heist of what was then a nearly $1 Billion NYSE listed company saw its stock decline 95% after a short seller's report exposed Gerova's ties to Jason Galanis. Planckis described ashaving blond hair and blue eyes, standing five feet, three inches tall and weighing about 120 pounds. I just feel for her son and I just can't imagine what that poor little kid is going through being without his mom,' Smeader said. In an exclusive interview with The Sun, her ex Jim revealed how he found messages on Heidi's phone from a stranger who had discovered her dog Seven wandering alone in the high-rise. Something just isn't right, and I can't put my finger on it.'. During non-business hours or on weekends, calls should be directed to 1-877-LAPD-24-7 (877-527-3247). "The answer to Heidi's whereabouts lies with her boss, Jason Sugarman, and his company," he said. Investors are strongly encouraged to conduct their own due diligence into these factors. All of these characters are tied to Banc of California and Camden Capital" I guess it was three or four days later that I started looking. November 2, 2021 Pictured, Heidi Planck Los Angeles mom missing since October 17 and possibly embroiled in employer's financial fraud scheme. The missing mom's ex-husband Jim Wayne said Heidi appeared "edgy" and "angsty" at their sons football game in Downey on October 17. Our research indicates that Mr. Brownstein has strong ties to Galanis and is actually participating in the very activities he is responsible to independently oversee. pic.twitter.com/0OuuOwYvSD. When asked what was going through her mind, Smeader said: 'I'm naturally thinking the worst. This loan may very well be disqualifying for Mr. Brownstein as NYSE independence standards extend to outside dealings between management and the board. Heidi Planck missing: Los Angeles mom vanishes as her dog is found hours after she is last seen leaving ten year old son's football game midway in edgy state. Missing California woman's ex-husband suspects foul play: 'Something's Jason Sugarman, a managing partner at Camden Capital, was charged in June 2019 by the Securities and Exchange Commission for his role in a scheme to steal $43 million of client funds they purported to invest in Native American tribal bonds. According to Heidi's Facebook page, she attended California State University, Los Angeles. According to the Daily Mail, Jason Sugarman, a managing partner at Camden Capital where Planck worked, was charged in June 2019 by the SEC for his role in a scheme to steal $43 million of. An FBI agent attests that Galanis also used Thorsdale to transfer ill-gotten funds directly into the Valor Group to finance an acquisition: The facts are irrefutable: BANC's senior-most officers financed the Galanis' and the entity used as a centerpiece of the Tribal Bonds Fraud. Dating back to 2017, Heidi was listed as the contact for the Sugarman Family Office in this press release. 'I can't imagine what's going on out there.'. Until her disappearance, the mom-of-one had been working as a bookkeeper for Camden Capital Partners under managing partner Jason Sugarman. Two troubling ties to Steven Sugarman, who remains the Managing Member of COR Capital, immediately emerged: Given these associations, the Tribal Bond Scheme was briefly mentioned in Bloomberg's recent profile of BANC's related party dealings. That hurt. He said he checked the parking garage a few days later and did not see her car there. Reddit, Inc. 2023. Jason Sugarman is facing federal charges for allegedly swindling $43 million. I guess it was three or four days later that I started looking. The plan was for the tribal corporation to use the proceeds from the bond sales to buy an annuity as an investment that could generate income, which would then pay interest to bondholders. They list 14 alleged issues including theft, rampant drug use and rowdy residents, claiming security cares more about people wearing masks sunbathing by the pool than following through with neighbor issues. The last time Galanis gained control of a $1 Billion financial institution was during the Gerova Financial fraud. The giant fraud unraveled after Galanis' involvement in Gerova was exposed in a January, 2011 short report and the stock dropped 95% before being halted by the NYSE. There is no evidence to suggest thatHeidis current partner was involved in her disappearance. Heidi Planck missing update - Jason Sugarman 'probed over a $43M fraud Cops have not said how Heidi is connected to the Hope + Flower complex, and reviews on Yelp.com, seen by The Sun, show many disgruntled residents hate the building. The missing woman's ex-husband said he received a phone call from a Securities and Exchange Commission official on October 21. There clearly is something out of place here., One friend toldCBS: It seems to us that everything stems from that building where her dog was found., HEIDI'S BOSS 'DIDN'T SEEM CONCERNED WITH HER DISAPPEARANCE'. BANC of California was featured as the marquee name amongst COR companies claimed by Galanis. Specific historical examples include: John has reportedly had a "heavy if not controlling influence" over his son, Jason Galanis, who became known in the early 2000s as"Porn's New King" and subsequently settled SEC accounting fraud charges related to Penthouse's bankruptcy. Reportedly, Wayne is a hairdresser for celebrities in Beverly Hills, according toMeaww. EX-HUSBAND SAYS HEIDI WAS 'EDGY' DURING LAST SIGHTING. Source: Internal Analysis From Company SEC Filings and Disclosures. In April of 2015, Sugarman and Galanis directed Morton to buy another $16.2milion in tribal bonds with funds from AAM clients, according to the complaint. IMPORTANT - Please read this Disclaimer in its entirety before continuing to read our research opinion. Given a "special thanks" by Steven Sugarman in the acknowledgements of The Forewarned Investor. When Heidi failed to pick up her10-year-old son from schoolon October 20, her ex-husband filed a missing persons report. Were just hoping for a miracle and that she comes home., ACCUSATIONS AGAINST HEIDIS BOSS, CONTINUED. Clare Mccarthy For Mailonline To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Heidi Planck cops probing her boss who's charged in $43m fraud as ex By Asked about Sugarman, a managing partner at Heidis firm Camden Capital Partners, Heidi's ex-husband Jim Wayne, 63, told The Sun: Heidi would have been working with him daily, for sure. Since the disappearance, Reddit and Websleuths users have been commenting on the case. In 2012, Steven Sugarman, COR's Managing Member, became the CEO of the bank and began a "transformational" growth strategy fueled by a combination of (oftentimes related party) acquisitions and loan growth. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. Residents of the apartment complex cared for Seven until Wayne contacted the microchip company and tracked down its location. Clare Mccarthy For Mailonline, Missing accountant, 39, whose firm is being investigated over $43m fraud, is filmed heading to her son's football game hours before her dog was abandoned on 28th floor of L.A. high rise and she vanished into thin air, Mother of missing accountant, 39, says her daughter was making plans to see her at Thanksgiving and gave no indication anything was wrong: Believes her disappearance could have something to do with her employer which is being investigated over $43m fraud, Russian video claims to show attacks on Ukrainian counter-offensive, Moment man beats his dog captured on doorbell camera, Brian May invites 11-year-old BGT guitarist to perform at concert, 'Fearless' British base jumper jumps from cliff in resurfaced clip, Documentary explores people between ages 16-34 addicted to drip, CCTV captures the man who stalked woman before assaulting her, Heartfelt moment police find boy that slept as vehicle was stolen, Husband slaps man during conference for sexually assaulting his wife, Brawl breaks out at Epsom Derby as racegoers throw punches, Under-construction bridge collapses into river in northern India, Angry motorcyclist drives through Just Stop Oil slow march protest, This Morning boss says aubergines are 'toxic' before Holly's return, Heidi Planck disappearance: Family begs for answers in search for missing LA mom; dog found same day she vanished - ABC7 Chicago, Federal Agents Enter Home Of Missing Woman Heidi Planck With Guns Drawn CBS Los Angeles, Missing California woman's ex-husband suspects foul play: 'Something's dirty here' | Fox News. In light of Galanis' demonstrated history of secretly gaining control of publicly traded companies and large financial institutions, we believe there is a material risk that Galanis gained control of Banc of California. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Thats absolutely one of their lines of enquiry.". One place to look for them is among short sellers, who are betting that a company's stock will decline. ", - The Forewarned Investor, a treatise on identifying corporate fraud co-authored by BANC's CEO, Steven Sugarman. 1) The sworn declaration of an SEC enforcement attorney (below) states that Valor's primary insurance subsidiary (Wealth-Assurance AG) and Burnham Financial (the placement agent for the Tribal Bonds Scheme) are among COR's family of businesses. The ex-husband of Heidi Planck says he suspects the missing 39-year-old Los Angeles accountant's disappearance is linked to her job as he revealed that federal investigators called him to ask questions about her boss. Dynamic search and list-building capabilities; Real-time trigger alerts; Comprehensive company profiles; Valuable research and technology reports; Missing Heidi Planck: Forensic evidence discovered as search continues "There was no concern and all from my ex-wife's employer. James Wayne told DailyMail.com he believes the missing mom's investment firm boss Jason Sugarman knows where Heidi is. One of the key alleged facets of the Gerova fraud, which is still subject to civil litigation, was that Galanis and his associates stripped tens of millions in real estate assets from the Stillwater Funds. Michelle Morton, an indicted Galanis associate who was put in charge of the asset managers "primary contact with any of the Galanis-related companies was always Jason Galanis" but "other individuals were presented to her as officers of the companies.". Sugarman and Galanis were accused of 'surreptitiously siphon[ing] millions of dollars in cash from the entities that they acquired,' the complaint read. But viewed in their totality, a damning picture emerges.". Steven Sugarman holds an undisclosed interest in Camden Capital, an off-balance sheet lender controlled by BANC's Vice Chairman, Jeffrey Seabold. Sponsored Learn More D&B Reports Available for Camden Capital Partners, LLC. CMA Hauts-de-France - Facebook Heidi Planck was last seen driving a 2017 gray Range Rover with aCalifornialicense plate. This occurs despite the fact that every business rogue leaves tracks in the sand. 'She doesn't let a day go by without either a text message or a phone call, even if she was really busy,' Wayne said. Gerova's balance sheet was riddled with illiquid holdings of asset backed loans and hedge fund portfolios that, in turn, were used for regulatory capital. This is completely puzzling why we haven't found out anything.'. It is not clear what the status of that civil lawsuit is. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. This leaves BANC investors holding a portfolio of non-transparent securities that far exceeds the bank's tangible equity. ", Source: Case 1:15-cv-09764. The missing mom is described as a 5'3", 120 pound white woman with blonde hair and blue eyes who was last seen wearing jeans and a grey sweater. Investors are encouraged to conduct their own due diligence into these factors. Heidi is white, 5-feet-3 inches tall, and weighs about 120 pounds, with blond hair and blue eyes. That was really painful., What kid wants to spend his birthday without his mom, he continued. Congratulations to Mark Udis, Partner of Camden Capital, for being ranked in Barron's 2023 Top 1,200 Financial Advisors list. HEIDI WAS 'UNCOMFORTABLE AND RESTLESS' BEFORE DISAPPEARANCE. Sugarman and Seabold also used Camden to engage in transactions with Galanis-controlled entities during the Gerova fraud. Jason Sugarman, is accused of stealing "$43 million, Heidis current partner was involved in her disappearance, Independent Press Standards Organisation (IPSO). James Wayne told the DailyMail that when he spoke on the phone with his ex-wife's boss's assistant, her boss seemed more interested in recovering Heidi's laptop than Heidi's wellbeing and whereabouts. 'It's bizarre, it's so unlike herPeople don't just go missing like that, you know,' she said from her home in Cheektowaga, New York, which is located some 10 miles east of Buffalo. She wascaptured on security footagethat same day leaving her home with her dog in her gray 2017 Range Rover.
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