Complaint Review: James Cundiff Jim Cundiff

I highly suggest before you defend James Cundiff that you also look into Texen Oil and Gas and SNRG and tell me what you find. The concert stuff is just the tip of the iceberg, so I highly suggest that James give me my money back as he promised when I looked into his eyes and he told me that it was such a good opportunity that he would give me my money back if it was not.  And I was one of the smaller investors. You can also check under Mathon and understand the magnitude of what these people were involved with. You can also check out Elroy Fimrite who is in this line as well.

Hi,

I was burned by the Transcapital / Dezert Heat investment fraud and am very interested in seeing the court docs about James (Jim) Cundiff's pleading guilty to a count of money laundering.  Unfortunately, Ripoff Report redacts personal information.  There is a site on the Topix board (do a google search for Topix & Miko Wady) about Miko Wady and this fraud.  It has approximately 130 posts from different investors burned in this fraud.  Do you mind posting additional info on that site as I am very intersted in the court pleadings. 

Thanks.

Ok. I think that everyone in here should know that Jim Cundiff plead guilty to one count of money laundering on the tenth of November. If anyone is interested in his pleadings please contact me at (((Redacted))). I will send you the electronic pleadings. His sentencing date is the 20th of January and we need every one of his Victims there to tell the judge how he harmed your family. Without your testimony he will probably recieve less than one year in prison. Also for your information, he has a 37 Ford hot rod that he has hidden in a secret storage facility that he bought with our money. Maybe the rest of the money is in there. Due diligence is what we need to make sure this man nor  his (Adam Cundiff, Jerimiah Cundiff, Molly Chan) children or his wife Teresa Cundiff have the ability to commit fraud on another innocent family again.



 CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Lets figure this all out. Wady blames the Cundiffs and the Cundiffs blame Miko. Isnt it great how it is always someone elses fault? If Jim Cundiff can't make it in the big world of risky business he should work for Home Depot. The only one that is successful here is Miko Wady. I thought that the FBI was after him. Didn't he just have a grand opening at a salon where he was the honored guest. All of you people who lost money can only blame yourself. You all know the risks that you were taking when you signed up. I don't think any of you were crying when you were recieving your monies. I think it was more like "How much more can we invest"? Well my question to you is, where was your due diligence? How come you trusted a man with all that money. Why didn't you make sure that the company was insured. You all had the money to put into it so that must mean that you all had the money to lose. Jim Cundiff has lived in Arizona for many years and has had a good reputation for all of these years. He has made people a lot of money. He has served his community well over the the last many years. He is a good man with integrety to boot. So all of you crybabies need to quit clamoring and shut up. Let the man so what he said he is going to do and pay you back. By the way you will never get paid back if he is out of a job or in prison.

I too invested in the Diane Stech & Lee Blanche concert debacle and lost money. I disagree with many points Susan raises in her rebuttal. A few points:

1st: Susan claims she was told the concerts were a high-risk investment. I too signed the high risk contracts, but was assured by Lee Blanche that they had invested in hundreds of successful concerts over the years and had never lost money. Lee Blanche stated there was little risk as there was adequate insurance to cover any losses and that the high-risk contract language was merely a formality.

2nd: Susan mentions that the Cundiffs broke the code on Miko Wady's fraud. What she failed to mention is that some investors actually alerted Blanche and the Cundiffs that concerts were not being funded long before Blanche or the Cundiffs alerted their investor base. For many months, Blanche and the Cundiff family told investors that things were going well with the concerts while knowing that the entire thing was a scam.

3rd: Susan claims that Lee Blanche and the Cundiffs have stayed in business so they can pay investors back, what business are Lee Blanche and the Cundiffs currently engaged in and how much have they repaid investors? I have not received a cent. If you think you will see a dime from Lee Blanche or the Cundiffs you are kidding yourself. Any money they recover from Miko Wady will be used to pay their own legal defenses from lawsuits filed against them for their involvement in this scheme.

4th: I, along with most investors, signed a settlement agreement by the Cundiffs and Lee Blanche. Have you asked yourself why this agreement requires investors to keep this fraud confidential and not disclose it to anyone? The reason is that the Cundiffs and Blanche want their actions and this fraud hidden from the general public so in the future they can continue to place investor money in extremely risky &/or fraudulent schemes and earn hundreds of thousands of dollars. No way the general public needs transparency into this fraud! By the way, I am posting anonymously and I imagine the initial poster did as well, because we are not allowed to inform the public about this fraud, per Lee Blanche and the Cundiffs settlement agreement!

5th: What is most troubling to me is that this is not the first time Jim Cundiff and his family (Adam, Jeremiah, et al) have taken investor money and placed it in a ponzi scheme.

Do an internet search of Mathon Management and Cundiff and you will see that Jim Cundiff and his family raised millions of dollars for another ponzi scheme and, per the following link, (vcresearch.info/open/forums.asp?TopicId=8830&ForumId=73) received commissions of more than $700,000 while their investors lost millions.

Are the Cundiffs so naive as to place investor money in ponzi schemes more than once? Or is that how they make a living - earn excessive commissions by placing people in ponzi schemes? It is troubling that if given the benefit of the doubt, Lee Blanche and Diane Stech did no research before taking millions of dollars from investors and handing it over to the Cundiffs and Miko Wady. Isn't that the point of investing through an intermediary they do some due diligence? I could look in the newspaper and find speculative or fraudulent investments, but I entrusted Lee Blanche and Diane Stech to do some diligence to earn their excessive management fees. More troubling is the idea that maybe Blanche and Stech knew all along this was a sham investment. How many hundreds of thousands of dollars in commission did Blanche & Stech stand to profit from this? Do you truly know how much they did earn?

Finally, in speaking with the authorities, Lee Blanche and Diane Stech have very likely broken securities laws by their solicitation of this investment. Neither Blanche nor Stech are registered securities agents and should not be soliciting investors or profiting from such offerings.

I recommend that those who have been harmed by Miko Wady, the Cundiffs, Lee Blanche or Diane Stech contact the authorities and securities agencies. This activity needs to stop.

I too invested in the Diane Stech & Lee Blanche concert debacle and lost money. I disagree with many points Susan raises in her rebuttal. A few points:

1st: Susan claims she was told the concerts were a high-risk investment. I too signed the high risk contracts, but was assured by Lee Blanche that they had invested in hundreds of successful concerts over the years and had never lost money. Lee Blanche stated there was little risk as there was adequate insurance to cover any losses and that the high-risk contract language was merely a formality.

2nd: Susan mentions that the Cundiffs broke the code on Miko Wady's fraud. What she failed to mention is that some investors actually alerted Blanche and the Cundiffs that concerts were not being funded long before Blanche or the Cundiffs alerted their investor base. For many months, Blanche and the Cundiff family told investors that things were going well with the concerts while knowing that the entire thing was a scam.

3rd: Susan claims that Lee Blanche and the Cundiffs have stayed in business so they can pay investors back, what business are Lee Blanche and the Cundiffs currently engaged in and how much have they repaid investors? I have not received a cent. If you think you will see a dime from Lee Blanche or the Cundiffs you are kidding yourself. Any money they recover from Miko Wady will be used to pay their own legal defenses from lawsuits filed against them for their involvement in this scheme.

4th: I, along with most investors, signed a settlement agreement by the Cundiffs and Lee Blanche. Have you asked yourself why this agreement requires investors to keep this fraud confidential and not disclose it to anyone? The reason is that the Cundiffs and Blanche want their actions and this fraud hidden from the general public so in the future they can continue to place investor money in extremely risky &/or fraudulent schemes and earn hundreds of thousands of dollars. No way the general public needs transparency into this fraud! By the way, I am posting anonymously and I imagine the initial poster did as well, because we are not allowed to inform the public about this fraud, per Lee Blanche and the Cundiffs settlement agreement!

5th: What is most troubling to me is that this is not the first time Jim Cundiff and his family (Adam, Jeremiah, et al) have taken investor money and placed it in a ponzi scheme.

Do an internet search of Mathon Management and Cundiff and you will see that Jim Cundiff and his family raised millions of dollars for another ponzi scheme and, per the following link, (vcresearch.info/open/forums.asp?TopicId=8830&ForumId=73) received commissions of more than $700,000 while their investors lost millions.

Are the Cundiffs so naive as to place investor money in ponzi schemes more than once? Or is that how they make a living - earn excessive commissions by placing people in ponzi schemes? It is troubling that if given the benefit of the doubt, Lee Blanche and Diane Stech did no research before taking millions of dollars from investors and handing it over to the Cundiffs and Miko Wady. Isn't that the point of investing through an intermediary they do some due diligence? I could look in the newspaper and find speculative or fraudulent investments, but I entrusted Lee Blanche and Diane Stech to do some diligence to earn their excessive management fees. More troubling is the idea that maybe Blanche and Stech knew all along this was a sham investment. How many hundreds of thousands of dollars in commission did Blanche & Stech stand to profit from this? Do you truly know how much they did earn?

Finally, in speaking with the authorities, Lee Blanche and Diane Stech have very likely broken securities laws by their solicitation of this investment. Neither Blanche nor Stech are registered securities agents and should not be soliciting investors or profiting from such offerings.

I recommend that those who have been harmed by Miko Wady, the Cundiffs, Lee Blanche or Diane Stech contact the authorities and securities agencies. This activity needs to stop.

I too invested in the Diane Stech & Lee Blanche concert debacle and lost money. I disagree with many points Susan raises in her rebuttal. A few points:

1st: Susan claims she was told the concerts were a high-risk investment. I too signed the high risk contracts, but was assured by Lee Blanche that they had invested in hundreds of successful concerts over the years and had never lost money. Lee Blanche stated there was little risk as there was adequate insurance to cover any losses and that the high-risk contract language was merely a formality.

2nd: Susan mentions that the Cundiffs broke the code on Miko Wady's fraud. What she failed to mention is that some investors actually alerted Blanche and the Cundiffs that concerts were not being funded long before Blanche or the Cundiffs alerted their investor base. For many months, Blanche and the Cundiff family told investors that things were going well with the concerts while knowing that the entire thing was a scam.

3rd: Susan claims that Lee Blanche and the Cundiffs have stayed in business so they can pay investors back, what business are Lee Blanche and the Cundiffs currently engaged in and how much have they repaid investors? I have not received a cent. If you think you will see a dime from Lee Blanche or the Cundiffs you are kidding yourself. Any money they recover from Miko Wady will be used to pay their own legal defenses from lawsuits filed against them for their involvement in this scheme.

4th: I, along with most investors, signed a settlement agreement by the Cundiffs and Lee Blanche. Have you asked yourself why this agreement requires investors to keep this fraud confidential and not disclose it to anyone? The reason is that the Cundiffs and Blanche want their actions and this fraud hidden from the general public so in the future they can continue to place investor money in extremely risky &/or fraudulent schemes and earn hundreds of thousands of dollars. No way the general public needs transparency into this fraud! By the way, I am posting anonymously and I imagine the initial poster did as well, because we are not allowed to inform the public about this fraud, per Lee Blanche and the Cundiffs settlement agreement!

5th: What is most troubling to me is that this is not the first time Jim Cundiff and his family (Adam, Jeremiah, et al) have taken investor money and placed it in a ponzi scheme.

Do an internet search of Mathon Management and Cundiff and you will see that Jim Cundiff and his family raised millions of dollars for another ponzi scheme and, per the following link, (vcresearch.info/open/forums.asp?TopicId=8830&ForumId=73) received commissions of more than $700,000 while their investors lost millions.

Are the Cundiffs so naive as to place investor money in ponzi schemes more than once? Or is that how they make a living - earn excessive commissions by placing people in ponzi schemes? It is troubling that if given the benefit of the doubt, Lee Blanche and Diane Stech did no research before taking millions of dollars from investors and handing it over to the Cundiffs and Miko Wady. Isn't that the point of investing through an intermediary they do some due diligence? I could look in the newspaper and find speculative or fraudulent investments, but I entrusted Lee Blanche and Diane Stech to do some diligence to earn their excessive management fees. More troubling is the idea that maybe Blanche and Stech knew all along this was a sham investment. How many hundreds of thousands of dollars in commission did Blanche & Stech stand to profit from this? Do you truly know how much they did earn?

Finally, in speaking with the authorities, Lee Blanche and Diane Stech have very likely broken securities laws by their solicitation of this investment. Neither Blanche nor Stech are registered securities agents and should not be soliciting investors or profiting from such offerings.

I recommend that those who have been harmed by Miko Wady, the Cundiffs, Lee Blanche or Diane Stech contact the authorities and securities agencies. This activity needs to stop.

I too invested in the Diane Stech & Lee Blanche concert debacle and lost money. I disagree with many points Susan raises in her rebuttal. A few points:

1st: Susan claims she was told the concerts were a high-risk investment. I too signed the high risk contracts, but was assured by Lee Blanche that they had invested in hundreds of successful concerts over the years and had never lost money. Lee Blanche stated there was little risk as there was adequate insurance to cover any losses and that the high-risk contract language was merely a formality.

2nd: Susan mentions that the Cundiffs broke the code on Miko Wady's fraud. What she failed to mention is that some investors actually alerted Blanche and the Cundiffs that concerts were not being funded long before Blanche or the Cundiffs alerted their investor base. For many months, Blanche and the Cundiff family told investors that things were going well with the concerts while knowing that the entire thing was a scam.

3rd: Susan claims that Lee Blanche and the Cundiffs have stayed in business so they can pay investors back, what business are Lee Blanche and the Cundiffs currently engaged in and how much have they repaid investors? I have not received a cent. If you think you will see a dime from Lee Blanche or the Cundiffs you are kidding yourself. Any money they recover from Miko Wady will be used to pay their own legal defenses from lawsuits filed against them for their involvement in this scheme.

4th: I, along with most investors, signed a settlement agreement by the Cundiffs and Lee Blanche. Have you asked yourself why this agreement requires investors to keep this fraud confidential and not disclose it to anyone? The reason is that the Cundiffs and Blanche want their actions and this fraud hidden from the general public so in the future they can continue to place investor money in extremely risky &/or fraudulent schemes and earn hundreds of thousands of dollars. No way the general public needs transparency into this fraud! By the way, I am posting anonymously and I imagine the initial poster did as well, because we are not allowed to inform the public about this fraud, per Lee Blanche and the Cundiffs settlement agreement!

5th: What is most troubling to me is that this is not the first time Jim Cundiff and his family (Adam, Jeremiah, et al) have taken investor money and placed it in a ponzi scheme.

Do an internet search of Mathon Management and Cundiff and you will see that Jim Cundiff and his family raised millions of dollars for another ponzi scheme and, per the following link, (vcresearch.info/open/forums.asp?TopicId=8830&ForumId=73) received commissions of more than $700,000 while their investors lost millions.

Are the Cundiffs so naive as to place investor money in ponzi schemes more than once? Or is that how they make a living - earn excessive commissions by placing people in ponzi schemes? It is troubling that if given the benefit of the doubt, Lee Blanche and Diane Stech did no research before taking millions of dollars from investors and handing it over to the Cundiffs and Miko Wady. Isn't that the point of investing through an intermediary they do some due diligence? I could look in the newspaper and find speculative or fraudulent investments, but I entrusted Lee Blanche and Diane Stech to do some diligence to earn their excessive management fees. More troubling is the idea that maybe Blanche and Stech knew all along this was a sham investment. How many hundreds of thousands of dollars in commission did Blanche & Stech stand to profit from this? Do you truly know how much they did earn?

Finally, in speaking with the authorities, Lee Blanche and Diane Stech have very likely broken securities laws by their solicitation of this investment. Neither Blanche nor Stech are registered securities agents and should not be soliciting investors or profiting from such offerings.

I recommend that those who have been harmed by Miko Wady, the Cundiffs, Lee Blanche or Diane Stech contact the authorities and securities agencies. This activity needs to stop.

What a deal the internet is. One can send an anonymous letter, speak in truths, leave out pertinent facts and then hide behind anonymity. As Paul Harvey would say, let me tell you the rest of the story.

I have known both Lee Band Diane for many years. Both are delightful, hard-working and professional people. When I and some of my friends met with Lee and subsequently invested money with her for the concert business she told each of us point-blank, please do not invest any money that you can not afford to lose. This is a high-risk investment, thus the high return. All of her documents were just as strong. When she introduced us to the Cundiff's and I asked what the downside was, I was told, you could lose all of your money. Period. If the writer above were honest, he would tell you that he was told the exact same thing. But if he did that then he would have to take responsibility for his investment decision and it is obviously better to leave out the facts and blame somebody else. Get a grip. Also, I would be willing to bet that the writer invested in some of Lee's real estate projects and made some nice money. Let's be sure not to share that. That would be too balanced and a little too fair.

Also, have you ever heard of Louis J. Pearlman? He is another slick dirt-bag like MikoThe Monkey' Wady. Pearlman did the same thing as Wady did, only he did it in Florida. BUT, he got off with over $300,000,000 with part of that coming from 2 banks.

The Cundiff's broke the code on Wady's fraud at 1/10th of what Pearlman got. They are the ones who hired a former FBI agent and other professionals and uncovered Wady's scam, complete with forged contracts, forged wire documents, forged Cashiers Checks and on and on. What did the Cundiffs do when they found out what Wady had been perpetuating? They went directly to the FBI and then met with each individual investor and let them know what they found. They filed a multi-million suit against Wady and his greasy pals. They set up an Investor Recovery Trust that will hold all money collected from Miko the Monkey, to be distributed equitably to their investors (which, by-the-way includes their own family and closest friends) as it is collected. AND, they asked the investors to let them stay in business so they can pay people back also. I have found the Cundiff's to be just as devastated by Wady's fraud as I am. I have also found them more than willing to roll up their sleeves to make it right. Gee, funny how none of that is mentioned.
But, then again if that were to happen who could we blame!!

What Wady has done to all of us is terrible. But let's be honest and not try to hide behind half truths!