Another Private Equity Fraud

Another Private Equity Fraud. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact that we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Another private equity fraud. I'm going to highlight this one.
I can pick a multitude they come across my desk
on an almost daily basis. It's easy. Quite frankly, it's
easy pickings for these private equity types simply because they're
targeting wealthy people and oftentimes, oftentimes they set these things up.

(00:43):
It's buyer beware and again they've got their sexy sale
and they're going to get you involved in pre IPOs
and all these wonderful things, and they take care. Here's
another one out of Greenwich. KRENERTERI Kit. I love the
name Old Greenwich Competent Advisors and OGCP Management in company. Yeah,

(01:07):
the CEO of this thing has been taking the money
out of his private equity firm and for all intents,
for just funding his lavish lifestyle. You know, it's amazing
to me he could do a simple search on the
CEO of this company and find out that he's got
I can't tell you countless tax liens on his house.
It's been foreclosed upon. He has worked at what eighteen

(01:32):
twenty different firms over the past twenty years, and go
on and on and on. But again he took people
for millions of dollars. Again, I it was the old
what was the old Champagne wishes and caviare dreams there
those lifestyles of the rich and famous. Again, this guy's

(01:53):
located where the rich and famous happened to live, So
I guess he kind of assumes that. But you know what,
nobody's going to really care or they're going to be
embarrassed to come forward. You know, the funny thing is
is that he took all of these clients and there's
nothing criminal involved with this. This is all civil charges,
which quite frankly, is fascinating to me. Hey, listen, you

(02:18):
know I do this from time to time. We get
into ripoffs and scams here on the program. I do just
do a hell of a lot more of it. Do
you want to try to get rich real quick? You
think there's some short and easy way. You think that
you're special and you're going to get some sort of
magical pre IPO, good luck to that, good luck to that,
and like I said, like Quentin Sang and Jaws farewell,

(02:40):
and Ado watchdog on Wall Street dot Com