Bigman............what am i looking for?
your attachment brings you there, makes you register.....THEN WHAT?
CHEMAR............since your mouth and attitude are so clean...
I DIDNT SWEAR.............
Receiver says findings seldom take under a year.......HELLO
Hey Bud yourself,
I'm trying to offer some constructive critisism. If you're going to comment about a post that's 10 posts above, at least tell us to what you're referring to, and who your returning the comment to. We're not mind readers. In others words you're commenting to the FAQ'S that say this type of situation is seldom completed in less than a year. Well what are we going to do about it? Scream, cry, ***** about it, or just deal with it, since it's really not in our hands. There's nothing we can do at this point except send in our forms, take what we can for deductions on our taxes (talk to your accountant first) or call the frauddiscovery people and ask their advise. I think we're all in the same sinking boat, but freaking out isn't going to resolve anything any faster. SORRY MAN.... :crying:
Scout,
I know you're P.O.'d and it's hard to be objective. Believe it or not, there are people who have been hit alot harded than you and I by all of this. One example is my son. It's come to the point where I can't afford to bail him out of the financial strain this has put on him. So as well as worrying about the $$ predicament I'm in, I'm also concerned about him too. I know you don't give a s**t, but I'm just trying to show you that there are other people in financial trouble besides you.
I don't know why the link is not working but the Dun & brad report is showing that Pinnacle's risk of not paying is extremely low... WTF :crying:
I guesss we are all wrong.
Bigman.....nice, what else can make us feel like dog sh_t ?...UNBELIEVABLE
You know, that was one of the earliest thinns they sold me on.....But then again , it took me 6 mos to fork out money.
Good things come to those who wait........Really?
I waited to invest and waited because i was in processing, then Oct 11 came.
WAIT MY A$$
A friend of mine invested $50,000 in early Sept. solely from the positive report from D&B. No returns, no rollovers, no referrals, just 4 weeks in, and now he's screwed just like the rest of us.
bigman,
it goes to show the value of Dun & Bradstreet's rating. Go figure.
Even though some of the former employees said they had no knowledge of wrongdoings, I don't believe all of them were innocent. I was personally told by Chris Schaefer that they were investing with the private sector for 3 years. LIE.... also, I was told by Nick Rogge that G. O'Neal had been paying GA. income tax for the investors up till this year. Another LIE! If that were true, then why are we getting K-1's for 2005?
we are compiling a list of investors on a spread sheet for future possible civil class action after the SEC is finished. REMY started and I'm continuing.
If you haven't done so already please email (Name, email address, tel # )to:
I'm receiving many emails...keep them coming. Please have patience with me as I'm inputing them slowly but surely and will send out periodic updates to all on the list....Thank you.
I was in Pinncale for 6 months. One lump sum payment and continued to rollover payments. Does anybody know if this can be written off as a loss tax wise when doing 2006 return or do we need to wait unitl it is resolved in court and the SEC makes there final ruling. Appreciate any insight.
Wannaberich,
As I undestand it, you are suppose to take the loss in the year the fraud was discovered. I am going to take the entire investment as a loss this year and if I am lucky enough to recoup some of it next year or whenever, then I will claim it as income then. I believe this is the best way. If you only take a partial loss and then recoup nothing you will have to go back and amend your 2006 return. Any accountants out there that can add anything????
The initial problem with how to handle this on our tax returns is that these are general partnerships that we are supposed to be receiving K-1's on.. the next thing is we have to handle it the way it is listed on the K-1 (ie, if the K-1 comes with income, we must declare income.. if it comes with a loss we must declare the loss) we cant use our own discretion to report whatever we want.. thats why it is very importnat for the receiver to figure out everything before he re-issues the K-1's.. obviously none of us have real income from this even though there were returns paid directly to some of us but the reeeiver may have to treat it as such.. I can tell you that I prepare all my own business & persoanl tax returns & I will be consulting with another accountnat as to the best way to handle this on my return, however I am still limited by what will be on the K-1
we are compiling a list of investors on a spread sheet for future possible civil class action after the SEC is finished. REMY started and I'm continuing.
If you haven't done so already please email (Name, email address, tel # )to:
I'm receiving many emails...keep them coming. Please have patience with me as I'm inputing them slowly but surely and will send out periodic updates to all on the list....Thank you.
Berkleyguy:
I have emailed you with a list of (5) investors that have accounts with Pinnacle.
Will this be okay coming from me, or do they need to individually contact you and will you need account numbers and dates that the accounts were opened?
BigD....I haven't gotten to your email yet but if it includes their name, email addresses and tel #s that would be OK. If not, could you have them email me this info. I'm not including due dates or even net loss as the SEC will compile that. You can include your location if you want also.
The list is growing but keep the emails coming.
Hello - I just recently learned about this website. Perhaps you can help me understand something. Before I invested with PDP, I verified with Atanta BBB, State of Georgia, and SEC. BBB told me that there were no negative nor positive reports on PDP but they had a record showing that the PDP was a valid business.
Then I spoke with a representative from SEC. I was told that they had no information and no control over PDP because PDP did not register with SEC nor had shareholders.
So, now how could SEC get involved if they had no jurdisication?
Dear Investors:
Please note the correct link to the Receiver's web site is:
www.haysconsulting.net
On the home page, click on the Pinnacle logo or find Pinnacle in the alphabetical list of cases. Many investors are going to the wrong web site that ends in .com and this company if forwarding emails and calls to the Receiver's office.
On the Receiver's web site you will find a letter and claim form to investors, a claim form for non-investor claims, a list of Frequently Asked Question and Answers, links to media stories and press releases.
We ask that you please visit the web site and read all available information before calling the Receiver's office. We will post additional information as it is available and hope to file our First Interim Report by the end of the week.
S. Gregory Hays, Recevier
Hello, All:
I am new to this forum, but have been reading all of your posts, and appreciate all the information I’ve received here. Thanks to this forum, I have obtained the necessary claim forms and have sent them to the Receiver. Further, I’ve added my name to the list that “berkeleyguy” is keeping.
I have a few random thoughts:
1) This forum barely scratches the surface of the many people who invested in Pinnacle. I found you purely by accident – I was following another forum that the administrator locked, did a Google search and found this place. I’m sure that most of the investors are unaware of what is going on with Pinnacle, or how to reach the Receiver. If the Receiver is interested, he can obtain most, if not all of the investor names by having us mail the pages of the contracts listing each of the many partners in each deal. I’d certainly be willing to mail him the pages I have.
2) In keeping with the above thought, I know that some of you have mentioned receiving K-1’s recently. Just to add to the discussion, I have not received one.
3) While the thought of the Receiver being paid out of the assets of Pinnacle may seem “wrong” to some, I assure you that this is standard procedure for any estate closing. I deal with bankrupt clients daily and therefore deal daily with attorneys for their companies. If you want to be angry, direct that anger at Pinnacle and Mr. O’Neal, not Mr. Hays.
4) I know that you are considering a lawsuit against the principals of Pinnacle; certainly as someone who was bilked by them, I’d participate in a lawsuit. However, I’d also look to the company attorney (Christopher Kunkel) as a co-conspirator and potential co-defendant. I’m sure that you all got the same threatening letters from him as I did, warning us not to talk with each other. Unquestioningly, he was aware of what was happening. Further, in any civil suit, if damages are to be awarded, assets must be available to pay the damages. Mr. O’Neal’s business assets have already been seized, and his personal assets may be difficult to find, if they haven’t already been exhausted. But, Kunkel, as an attorney, likely has malpractice insurance. This may well be a case of legal malpractice, and as such, he may be a good target for a civil suit.
Keep up the good work.
Larry Jay
I have made several prior posts regarding Pinn's attorney Chris Kunkel.. I beleive he absolutely bears liablility.. For me, his letter of reference was one of the influencing factors that made me feel comfortable investing more money, like 6 figures more! For some reason there hasnt been much discussion of his role in all this.
Filing a claim against his insurance is something I think we should definitely look into. What is the best plan of attack? I was told before that filing a greivance with the GA bar is done on an individual basis. Dont know if there is an exception considering these extreme circumstances.
In the meantime, I will email the receiver to find out if they are already persuing this avenenue. Lets get this S.O.B.!!!
Ps: WHERE IS EVERYBODY!!!!!!
Would a class action lawsuit work against the attorney? If we all signed a petition and filed it in the form of a class action suit, maybe that would hold some weight. Just my thoughts!
I think Kunkel, Hendree, any other top Pinnacle "Associates" and also O'Neal's girlfriend or wife who probably knew what was going on and maybe has his assets in her name, should all be targets for lawsuits.
If anyone has called Georgia State Bar regarding Kunkel please let us know ...I will also do my own checking and will let everyone know....Thanks!