C NOVEMBER 19-22, 2011 • LA WEEKEND ASIAN JOURNAL Community Journal http://www.asianjournal.com • (213) 250-9797
Debt
Relief
Who owns PONZI
profits of BK debtor?
10% a month, payable interest 7 bankruptcy protection when
Atty. LAwrence yAng and principal, every month, with they ran out of bats. On Au-
option to rollover your money gust 24, 2006, a judgment was
NOWADAYS, it is so hard to every month at the same rate of entered against Parise requir-
make a buck. In the good old returns. Wow! It sounds like a ing her to return the profits she
days, that’s prior to 2007 before great investment that is too good made from her investments in
the real estate bubble bust and to be true. So, eager to build the scheme. Instead of returning
the subprime mortgage melt- your retirement account, you get the $429,000, Parise is alleged
down began, all that you had to do a home equity loan of $100,000 to have taken numerous steps to
to make a buck was buy a house and invest in the dinosaur busi- conceal a significant amount of
zero down, wait two months, sell ness, expecting to double your funds and assets from the bank-
it, and as if by magic, you pock- money in ten months. ruptcy trustee, including making
eted $10,000. But for a select In truth, there is no dinosaur false statements and omissions
few, those lucky enough to meet or celebrity wig or uniform from during a deposition in the bank-
the right investment gurus, like palm tree business. What is re- ruptcy proceedings. The Feds
the clients of Madoff, instead of ally happening is you are getting say that Parise, from September
investing in houses and flipping paid from new money that comes 14, 2006, through December 8,
them, you could have invested in from new investors who get 2006, withdrew at least $455,850
your money in a PONZI business. paid from subsequent investors. in cash from the bank accounts
Never heard of a PONZI busi- When no new investors come in, which had not been disclosed
ness? This is how it works. the PONZI business collapses, to the trustee. During this time,
You invest your money with and you are left with unfunded Parise made 67 cash withdraw-
your local Mr. Madoff who tells checks. If you are lucky enough, als, all of which were below the
you that he is involved in a very you got out before they ran out $10,000 threshold for the filing
lucrative business, i.e. import- of dinosaurs, and actually made of currency transaction reports.
ing dinosaurs from Galapagos a bundle. But what happens to “What a busy little bee she was
and selling them to the LA zoo, the bundle that you made in the hiding money from the trustee,”
or making wigs from the hair of PONZI business if you later file the court said.
celebrities that he gets from the for bankruptcy relief? Instead of getting a bankruptcy
salons that they go too in Bev- In Re Parise, debtor filed for discharge, Parise was indicted by
erly Hills, or making uniforms Chapter 7 bankruptcy protection a federal grand jury for her role
from palm tree fibers. It does on July 7, 2008. Debtor and her in refusing to return the profits
not matter how strange or logi- husband invested $115,000 with she made from a PONZI busi-
cal the business is, the common a company called Global Trading ness and the stealth withdrawal
denominator of a PONZI busi- Investments. A great PONZI busi- of money from bank accounts.
ness is that the business is mak- ness which gave debtors profits ***
ing a ton of money but it needs of $429,000 from an invention of Lawrence Bautista Yang specializes in
cash to operate and it is willing our current President that con- bankruptcy, business, real estate and civil
to pay you, the investor or the verts bat dung roasted on Solyn- litigation and has successfully represented
lender, very high returns on your dra coils into electric power. more than five thousand clients in California.
money. When you can only get Every bat that takes a dump cre- Please call Angie, Barbara or Jess at (626)
1% annual return on a CD, you ates a job for an American citizen 284-1142 for an appointment at 1000 S
can invest your money in the di- was the rally cry of Global Trad- Fremont Ave Bldg A-1 Suite 1125 Unit 58
nosaur import business where ing Investments. Global Trading Alhambra, CA 91803.
you are guaranteed a return of subsequently filed for Chapter (Advertising Supplement)
Immigration: The ABC’s of removal…
PAGE C3 t under the United Nations’ Convention Against
The NTA would usually contain the date, place Torture (CAT), among others.
and time of the immigration court hearing. The If you have any immigration concerns, it is ad-
first hearing is called a “master calendar hearing” visable to seek the counsel of an immigration law-
which is the preliminary hearing before the IJ. yer to guide you on the intricacies on how to best
The master hearing is not the trial itself but rath- address these concerns.
er a series of hearings, depending on the complex- ***
ity of the case. During the master hearing, the IJ Atty. Gwendolyn Malaya-Santos is a member of the State Bar of
will ask the alien how he pleads to the charges in California and the Integrated Bar of the Philippines. To schedule for
the NTA. a free initial consultation, please call Tel. Nos. (213) 386-5651 (Los
If the alien is found removable and relief from Angeles office) or (626) 329-8215. Attorney Santos’ offices are
removals is available, a hearing on the merits at located at 3540 Wilshire Blvd., Suite 1012, Los Angeles, CA 90010
the individual hearing is held. Relief from remov- and Riverside Turner Riverwalk, 11801 Pierce Street, 2nd Floor,
als means an application filed with the immigra- Riverside, CA 92505.
tion court to prevent the alien from being removed ***
(deported) from the US. Available reliefs include Information contained in this article does not, nor is it intended to, constitute
legal advice for any specific situation and does not create a lawyer-client
waivers for criminal offenses, cancellation of re-
relationship. It likewise does not constitute a guarantee, warranty, or
moval for permanent residents, cancellation of re- prediction regarding the outcome of your legal matter. We are a debt relief
moval for non-permanent residents, asylum/with- agency. We help people file for bankruptcy relief under the Bankruptcy code.
holding of removal and withholding of removal (Advertising Supplement)