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October 11, 2006

comment 12DailyPro - The Real Ponzi Game

Filed under: Financial News — C4G @ 5:03 pm

Even though I was never had more than $6 minimum upgrade program just to keep my sites in the rotater, I’ve still been receiving email correspondence from the court appointed “receiver” Thomas F. Lennon. Todays email from the “Honorable” Thomas F. Lennon enlightens us to the reality of what happens when millions of dollars are from thousands of people and the government and the SEC get’s involved. It seems even after death, a still pays the big players first and all others shall wait. The message below is for a hearing regarding 12DailyPro and payment of the “court appointed” lawyers fees. Notice, these guys want 80% up front, or 7 days ROI in 12DailyPro, except these players haven’t even upgraded or surfed a day…

NOTICE OF CHANGED HEARING DATE ON FIRST INTERIM FEE APPLICATIONS OF RECEIVER AND HIS PROFESSIONALSPLEASE TAKE NOTICE that on November 27, 2006, at 10:00 a.m., before the Honorable Stephen G. Larson, in Courtroom No. 1 of the United States District Court for the Central District of California, Eastern Division, located at 3470 Twelfth Street, Riverside, California 92501, Thomas F. Lennon (”Receiver”) will move the Court for an Order approving the first interim fee applications of the Receiver and his professionals, Allen Matkins Leck Gamble Mallory & Natsis LLP (”Allen Matkins”), counsel to the Receiver; William H. Ling, CPA (”Ling”), accountant to the Receiver; Poyner & Spruill, LLP, local counsel to the Receiver, and Investigative Technologies LLC (”ITL”), information and technology consultant to the Receiver. Detailed fee applications are on file with the Court. If you were served only with a copy of this Notice of Hearing, you may obtain copies of the applications and supporting papers from the Clerk of the Court, or by requesting them in writing from counsel for the Receiver, or by accessing the Receiver’s website at www.tlennonfor12dailypro.com. The Receiver and his professionals request approval of the following fees and expenses:

APPLICANT FEES EXPENSES TOTAL
Thomas F. Lennon $213,154.50 $871.29 $214,025.79
Allen Matkins $154,927.50 $4,714.55 $159,642.05
William H. Ling, CPA $8,692.50 $124.81 $8,817.31
Poyner & Spruill, LLP $11,362.00 $79.42 $11,441.42
Investigative Technologies LLC $222,787.50 $20,559.08 $243,346.58
Total $610,924.00 $26,349.15 $637,273.15

The Receiver and his professionals are requesting that an interim payment of 80% of the requested fees and 100% of the requested expenses be authorized on the current applications. The fees and expenses are requested pursuant to the order appointing the Receiver, which provides that the Receiver may employ professionals and that the Receiver’s expenses and those of his professionals are to be paid from the assets of the defendants upon application to the Court. The fees and expenses of the Receiver and his professionals are requested only on an interim basis; the final determination of the ultimate allowable amount of fees and expenses to be paid to the Receiver and his professionals will take place at a final fee application hearing at the end of the case.

Procedural Requirements. If you oppose the application, you should consult, among other authorities, the Local district Court Rules for the applicable procedural requirements. Your opposition papers must be filed with the Clerk of the United States District Court for the Central District of California, Eastern Division, 3470 Twelfth Street, Riverside, California 92501, and served on the undersigned not later than fourteen (14) days before the hearing.

This application is based upon the Notice of Hearing, the first Interim Fee Application of Thomas F. Lennon, the First Interim Fee Application of Allen Matkins, the First Interim Fee Application of Ling, the First Interim Fee Application of Poyner & Spruill, LLP, the First Interim Fee Application of ITL, the Declaration of Thomas F. Lennon in Support of the Applications, and the pleadings and filings previously made in this case.

Dated: October 9, 2006

Loraine L. Pedowitz, Esq. Allen Matkins Leck Gamble Mallory & Natsis LLP 501 West Broadway, 15th Floor San Diego, California 92101-3541 Attorneys for Receiver Thomas F. Lennon

Read it and weep people, these lawyers are going to pocket $610K of 12DailyPro’s members money, and there’s nothing anybody can do about it. These are the things that utterly disgust me with the US legal System. People get ripped off, and when the lawyers come in, they reap the profits. Today, I am truly sad for the world when I see this.



• • •

1 Comment »

    #1
    November 7, 2006 @ 2:02 am | Comment
    by tdinoz

    Not in to that weeping game , I put $20 if that in there for my mum and she gets these as well. She is not weeping either. ;)

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