The first time I met Gabe was in his office at Franklin Squires, he seemed nice but you could tell he was a salesman. He told us about Rick Koerber and how he was such an “honorable” man. He told the story of how Rick’s company National Business Solutions went under at the end of the .com era and how Rick paid back all of his creditors in full with interest. He told us how the money was invested in Founders Capital and very briefly told us about the “Equity Mill" TM. What Gabe never went over is the questions that you have to ask to satisfy the SEC.
The first time we caught “The Invisible Hand” of capitalism and his assistant Brandon Adams in a lie was back in June, Gabe was very late on his July 2007 interest payment and he claimed that he was on a fishing trip and Brandon also claimed he was on a fishing trip. The funny thing is they both thought that the other was taking care of the payments. I guess Gabe forgot that he had to approve the payments. The next month’s interest payment for August 2007 was on time. Starting with September the money stopped and the lies came out in full force.
We thought that Gabe or Brandon would tell us that we were not going to get that month’s interest payment. Instead we got the run around from both Gabe and Brandon. We did find out that others were lucky enough to get their interest payment that month (I wonder how he chose). The story we heard was that he didn’t have any money, Founders Capital wasn’t distributing. Gabe claimed that if Founders wrote a check to him and he cashed it, he would go to jail. He said because the state was investigating Founders Capital. The second lie we were told is that Founders couldn’t payout because their assets were frozen by the state. The third lie that we heard was if they paid money out it would be “discrimination” (whatever that means). That is contrary to what the State of Utah claims; that they want Rick, Gabe and all of the gang to pay their investors back. The State said that all of their stall tactics and excuses they are giving us are absolutely false. If you want any chance of getting some of your money back, contact the State of Utah Division of Securities. (Contact info is at the bottom of the page). They also claim that they are cooperating with the state, giving financials etc. This is also false. The latest excuse that Gabe is now claiming is that he doesn’t know why Rick is not distributing from Founders Capital. Gabe said that 80% of his money is coming from Founders but 20% is coming from other interests that are doing well. I wonder if he is living off of the 20% because I know investors aren’t seeing it.
We are so very glad that we didn’t get involved with their FranklinSquires University or the Free Capitalist Project. I know a few people that have and it’s like adding insult to injury. Since they use their church affiliation and verbiage to teach their principles it would be interesting what the first presidency would think of their business practices.
Since the fall of Annuit Coeptis I have read many things about Gabe, Rick and FranklinSquires. The only principle that they know or truly believe in is selfishness. It makes me sick to think they have swindled millions of dollars out of investors. Yet they drive around in Ferrari’s and live in their 3 to 5 Million Dollar houses and cabins. I keep thinking that I will see a big billboard with a huge house and a picture of Rick saying this is the house that fraud built. I just can’t understand why they think that they have done nothing wrong. While some investors are losing their houses and others will be paying for their “material possessions” for years to come. I’m not sure how they can feel good about themselves knowing that they have lied, cheated and stole from others. I think they were trying to tell us something with their slogans “Some things are true whether you believe it or not”, “Turn your brain on”.
If you have received a questionnaire from the State of Utah Division of Securities please fill it out in the entirety. They already have copies of your promissory note so they already know the terms of the agreement. The purpose of the questionnaire is to find out if fraud was committed on the part of the issuer and to help get investors monies returned.
Please post your stories and comments so that others may learn more information about the whole upline and downline mess. This blog isn’t just about Annuit Coeptis it is for anyone that has any dealings with FranklinSquires or subsidiary thereof.
Anyone seen or heard from Gabe or any of the Franklin Squires principles lately?
Reference:
The United States Attorney's Office
185 South State Street
Suite #300
Salt Lake City, UT 84111
Phone: (801) 524-5682
(800) 949-9451
Fax: (801) 524-6924
Franklin Squires
85 East Bay Blvd.
Provo, UT 84606
801-375-7707
Annuit Coeptis, LLC
9481 North 3830 West
Cedar Hills, UT 84062
State of Utah Division of Securities
160 East 300 South
P.O. Box 146760
Salt Lake City, UT 84114-6760
801-530-6127
U.S. Securities & Exchange Commission
Office of Investor Education and Advocacy
100 F Street, N.E.
Washington, D.C. 20549-0213
Fax: (202) 772-9295
Blog Directory
34 comments:
I truly sympathize with you. My family is also one of the hundreds of families that have been devastated by Rick Koerber. I agree that self interest is the only interest that Rick Koerber has. When Rick says people are assets, he means their money is an asset to him. It's really a shame getting that filled with pride that a man's willing to destroy others for material gain. By his own explanation of the laws of cause and effect, Rick Koerber is morally and ethically bankrupt, (the cause) It's only natural Financially bankrupt comes next. (the effect)
I hear you, my family is going through a very hard time because of these clowns. I invested in a man "like Rick" but not Gabe. He is pretty much giving me the run around. At this point I don't beleive I will get any of my money back. I would however like to know where the money went. It sounds as if they don't own anything at all. I hope this scam haunts them for the rest of their lives.
First off I'm surprised at the poll numbers I thought that rick had more followers. I also invested with Gabe Joseph but I haven't heard a thing since Founders quit paying out. I tried getting a hold of him several times with no luck. I wonder if he dug a dirt hole to live in like Saddam Hussein. I'm not sure how much the "ultimate man’s car" costs, but I think I probably paid for Rick's car. I'm not sure if you heard the Freecapitalist radio show the other day but what a joke. Does he really think that any of us would want to sit on the same side of the table as him and his crew? Do you think that Rick listens to his program? If he does he ought to know how stupid he sounds and what a hypocrite he is. This guy doesn't feel any remorse at all for stealing money from investors. I give the Freecapitalist Project about another six months before it topples. That will be the end of the rest of the investors money.
I have an action and a Private Investigation company working on this issue right now.....have over 1,000 hours of research into it.....if you would like to join forces call Attorney's Investigative Services @ 801-803-3289
Does anyone know what is currently going on with FS and the downlines?
Franklin Squires in being investigated by the FBI. They are going down! I Have known Rick, Gabe, Clavell, and Steve before Franklin was started. Rick has always been slimy. I think it is funny that he used to live in a ity bity run down house in Spanish Fork. He might think he is better than the rest of us but I could really spill the beans about those guys.
Rick came into my house with his tuxedo, top hat and cigar and laughed as he poisened my well, burned my crops and sent a plague upon my village. Along with stealing all my women and raping all of my horses! He promised me the world and all I had to do was signed a paper that said something about my soul. I can't be bothered with details when I have soo much anonymous blogg posting to do.
By the way, if you have invested money with someone that says there is zero risk, I have some ocean view property in Arizona that I could sell to you for cheap. R-tard!
If everybody is soo pissed why don't they go do something about it? Or is commenting on a blogg enough?
Rick Koerber is DELUSIONAL. The man will lie to your face convincing himself the whole time that from some obscure point of view he's telling the truth.
Where is Gabe? He's going to be defending himself in a courtroom with his buddy Rick pretty soon.
Have a read.
http://www.courthousenews.com/2008/02/21/AnnuitPonzi.pdf
Is there any type of class action lawsuit been initiated to this point or is it every man sue for himself? I have heard that Claud Koerber is distancing himself from Franklin Squires. All the signage has been changes to Free Capitalist Project etc. I think he's hoping to start scheming to a new crop of suckers under the new name.
Read Rick's supposed interview on his website with one of his goons disguised as a professional neutral 3rd party. What a joke! It pretty much said I'm a founder of this and that but not really! These guys are my partners and students but not really! if they are in trouble, they are not my friends but i they are not in trouble they are! Rick certainly have a lot to say about principle this and principle that but judging from the interview, he is nothing but a lying 2 tongue snake. Every ''business'' that they have are making so much money that it all looks like a smokescreen to ask for more money from regular hard working folks. I have family in Las Vegas that are out more then $500K with these snakes. Hey Rick, Gabriel, Sonny, if you want to challenge me for their identities, let's meet at the SEC Utah's Office, not on this or another blog, you cowards! Pay us our money that you're supposed to return to us since Feb 2007!!!!!!
There are moving vans in front of the Cedar Hills House tonight. I hear they are moving to Las Vegas
They are not selling their properties they are putting them in family members names who could never afford those purchases in order to hide assets
This man seems to have no boundaries. It looks like he would even put his own family at risk by hiding his assets with them instead of just paying those he has scammed
Maybe someone close to the family can answer this for me. I'm a friend of Shandi but have not been in contact for a long while. How is his family taking all this? Is she standing by her man? Does she have a choice or is the whole (extended) family in too deep?
A friend and former FranklinSquires employee renting a house that FranklinSquires (or related companies) is having the house he's renting forclosed on because the good people at FranklinSquires haven't made payments in, like, forever. He and his family have to find a new place to live by the end of May. If Rick and others are transfering assets to hide them, this house is not one of them.
If it is a true fact that the house they have been living in is only a rental and is being foreclosed on then why is Gabes sister and husband going to be living in it when they move out at the end of may. I think it is more lies and indeed looks like Gabe is hiding assets
To the poster above: I don't know what house you're referring to, but this house is being forclosed on. I've seen the notice. No one in gabe's family is moving in at the end of the month. There may be other houses where friends or relatives of Gabe are taking over but this is not happening in the house my friend is renting. It IS being forclosed on.
Those persons and companies who are involved in any type of fraud are shameless, they have no rules for their self and for the nation.
http://www.ktvb.com/news/localnews/stories/ktvbn-dec2408-fraud_scheme.fa017f.html
Idaho: Utah man must pay $2.4M in fraud scheme
(Published December 24, 2008)
BOISE, Idaho — Idaho will attempt to collect $2.4 million from a Utah man and his company as part of efforts to help investors who were defrauded in a scheme that allegedly targeted primarily Mormons from southwestern Idaho.
4th District Judge Patrick H. Owen in Boise ordered Gabriel Joseph of Cedar Hills, Utah, and his company, Annuit Coeptis LLC, to return more than $2.4 million obtained illegally from 45 Idaho investors.
Owen has also ordered Michael Breinholt and his company, Streamline Financial LLC, to pay $5 million for their role in the fraud, but he'll pay just $12,000 annually for 10 years, or $120,000 in all, because he said he has no money.
Idaho Department of Finance investigators say it appears the case involves affinity fraud; most of the people who were bilked belonged to The Church of Jesus Christ of Latter-day Saints.
Information from: Idaho Statesman, http://www.idahostatesman.com
The Joseph home has stopped contruction in the Berkshires. It is going to auction in its unfinished state. If you want to find these guys you may need to hire a P.I..I did that and found one recently. I will be filing a lawsuit now..get a fraud judgment that doesn't go away in a bankruptcy...Good luck
Someone close to Wade and Gabe told me they have been working on a new business venture. I don't know what it is all about but I was told Wade, Gabe, Setema Gali, Steve Freestone, and Jon Shields are all involved and I was invited to a mastermind they have. Apparently it takes place every Wednesday at 10am at 947 South 500 East , Suite 300 in American Fork.
I was surprised that the person told me about this because they know how I feel about these guys and what they have done to harm so many people.
Here are some things you may want to check out.
http://www.youtube.com/user/bigdude185 - Gabe's personal youtube channel.
http://www.facebook.com/people/Wade-Sleater/1415293806
http://www.facebook.com/people/Shanda-Schenfeld-Sleater/1406450046
so, whats the word on these guys are to going to get away with this stuff or not?
So basically Gabe is ordered by a Judge in Idaho to pay back 2.4 Million dollars and still drives a ferrari and claims to be making a 6figure income on his you tube channel http://www.youtube.com/user/bigdude185 someone really needs to take this pompass guy down
It is so sad to see Gabe putting out all these videos about how much money he is making on his new business ventures while the people who got scammed are ruined
It looks as though Gabe is making connections with people through youtube and facebook who don't know who he really is. Everyone should leave comments on his pages so we can let people know who he truly is so they don't get affected like we all did.
What is also very sad is that Gabes wife has her head in the clouds and is still acting like a little princess that deserves her life of luxury at the expense of others. She is very condesending and refers to honest hard working peoples homes as cute little houses. Maybe when gabe goes to prison she will pull her head out and get a reality check
If they are making so much money -why are they living in their in-laws basement in Highlan, UT - Those videos are not being made at Gabe's house as claimed.
They are living in their In-laws basement. All their cars are being picked up by the bank. Shandi has been seen driving an old minivan. This still is not justice. I hope he will be ordered to get a "real job" and begin making things right.
Anonymous, with the facts.
I worked at franklin Squires and it was common speculation that Rick Koerber was way too chummy with Jewel Kimber. Whether he was dipping his pen in that inkpot, i don't know. All I do know is that he's a total douche. He has not integrity. I Can't wait to see him in the orange jumpsuit. Maybe he can get Brian David Mitchell as a Preferred buyer on a property deal
Oh, he wasn't just "dipping" that ink pot...he married her and they just had a baby!
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