B NOVEMBER 23-25, 2011 • LA MIDWEEK ASIAN JOURNAL Community Journal http://www.asianjournal.com • (213) 250-9797
Debt
Relief
Who owns PONZI pro ts of BK debtor?
Local residents
tree fibers. It does not matter how and you are left with unfunded ruptcy trustee, including making
strange or logical the business is, checks. If you are lucky enough, false statements and omissions
the common denominator of a you got out before they ran out during a deposition in the bank-
honored nationally as
PONZI business is that the busi- of dinosaurs, and actually made ruptcy proceedings. The Feds
ATTY. LAWRENCE YANG ness is making a ton of money but a bundle. But what happens to say that Parise, from September
it needs cash to operate and it is the bundle that you made in the 14, 2006, through December 8,
Filipinas of Distinction
NOWADAYS, it is so hard to willing to pay you, the investor or PONZI business if you later file 2006, withdrew at least $455,850
make a buck. In the good old the lender, very high returns on for bankruptcy relief? in cash from the bank accounts
days, that’s prior to 2007 before your money. When you can only In Re Parise, debtor filed for which had not been disclosed
the real estate bubble bust and get 1% annual return on a CD, Chapter 7 bankruptcy protection to the trustee. During this time,
the subprime mortgage melt- you can invest your money in the on July 7, 2008. Debtor and her Parise made 67 cash withdraw- THE Filipina Women’s Net-
down began, all that you had to do dinosaur import business where husband invested $115,000 with als, all of which were below the work has selected Maria Benel
to make a buck was buy a house you are guaranteed a return of a company called Global Trading $10,000 threshold for the filing Corazon G. Se-Liban, CPA, Prin-
zero down, wait two months, sell 10% a month, payable interest Investments. A great PONZI busi- of currency transaction reports. cipal, Vasquez & Company, LLP;
it, and as if by magic, you pock- and principal, every month, with ness which gave debtors profits of “What a busy little bee she was Alma Hidalgo Onrubia, MBA,
eted $10,000. But for a select option to rollover your money ev- $429,000 from an invention of our hiding money from the trustee,” CPA, CFO/Owner of Affiliated
few, those lucky enough to meet ery month at the same rate of re- current President that converts the court said. Home Health Services, Inc. and
the right investment gurus, like turns. Wow! It sounds like a great bat dung roasted on Solyndra coils Instead of getting a bankruptcy Apex Homecare Services, Inc.;
the clients of Madoff, instead of investment that is too good to be into electric power. Every bat that discharge, Parise was indicted by Jannelle So, TV Host/Producer
investing in houses and flipping true. So, eager to build your re- takes a dump creates a job for an a federal grand jury for her role of KSCITV – LA 18 and Melissa Alma Hidalgo Onrubia Jannelle So
them, you could have invested tirement account, you get a home American citizen was the rally cry in refusing to return the profits Roxas, Poet and Human Rights
your money in a PONZI business. equity loan of $100,000 and invest of Global Trading Investments. she made from a PONZI busi- Activist as awardees of the 100
Never heard of a PONZI busi- in the dinosaur business, expect- Global Trading subsequently filed ness and the stealth withdrawal Most Influential Filipina Women
ness? This is how it works. ing to double your money in ten for Chapter 7 bankruptcy protec- of money from bank accounts. in the United States in 2011.
You invest your money with months. tion when they ran out of bats. *** The 100 Most Influential Fili-
your local Mr. Madoff who tells In truth, there is no dinosaur On August 24, 2006, a judgment Lawrence Bautista Yang speciali es in pina American in the United
you that he is involved in a very or celebrity wig or uniform from was entered against Parise re- bankruptcy, business, real estate and civil States Award is a celebration
lucrative business, i.e. importing palm tree business. What is re- quiring her to return the profits litigation and has successfully represented of leadership, inspiration and
dinosaurs from Galapagos and ally happening is you are getting she made from her investments in more than five thousand clients in California. achievement. It honors Filipina a.benel Se-Liban elissa o as
selling them to the LA zoo, or mak- paid from new money that comes the scheme. Instead of returning Please call Angie, Barbara or Jess at (626) women who are changing the
ing wigs from the hair of celebri- in from new investors who get the $429,000, Parise is alleged 28 -11 2 for an appointment at 1000 S face of power in American com- American women are dynamic
ties that he gets from the salons paid from subsequent investors. to have taken numerous steps to Fremont Ave Bldg A-1 Suite 1125 Unit 58 munities, organizations and the entrepreneurs, rising stars under
that they go too in Beverly Hills, When no new investors come in, conceal a significant amount of Alhambra, CA 180 . workplace. 40, emerging builders and exec-
or making uniforms from palm the PONZI business collapses, funds and assets from the bank- (Advertising Supplement) “These influential Filipina u PAGE B5