Bank Settles Ponzi-Scheme-Related Lawsuit Tied to Gun-Planting Case

Categories: Crime-iny
Nathan Santistevan
Business writer Ronald Campbell at the Orange County Register has done a good job of tracking the fallout that continues to unfold involving a roughly $1 billion Ponzi scheme tied to a gun-planting case first exposed by the Weekly. Last week, we reported that a jury awarded Dr. Michael Fitzbiggons $5.7 million in damages after he sued the hospital chain he worked for, alleging that the company's chief executive officer had hired someone to plant a gun in his car in an attempt to frame him for a June 2006 road rage incident.

Fitzgibbons had allegedly earned the wrath of his imployer, Integrated HealthCare Holdings, Inc., because he'd sent an email questioning the company's relationship with the Tustin-based medical lender, Medical Capital Holdings, or MedCap. As it turns out, Fitzgibbons was right to worry: MedCap was really a Ponzi scheme that took millions in administrative fees while selling investors mostly bogus accounts, a scheme that led the IRS to seize the company in 2009. In today's Register, Campbell reports that one of the two big banks that backed up MedCap, the Bank of New York, has agreed to cough up $114 million to help repay investors who were ripped off.

So if MedCap wasn't really selling investors legitimate medical accounts--bills for actual hospital visits and other actual medical bills--what was MedCap doing with the money?

Some of it went to purchase failing hospitals around the country and other real estate deals, a chunk helped finance a money-losing film about a Mexican little league team, and $5 million went to a company called EMark that supposedly specialized in internet porn, although there's no real evidence the company really existed.  (The names on the firm's board of directors all appeared to be fake individuals, and the address listed as EMark's global headquarters turned out to be a ramshackle house in El Sereno, a working-class neighborhood in East Los Angeles). And then there was the 100-foot party yacht that executives purchased for $4.5 million.

Of all the executives involved in the fraud, only MedCap's president, Joey Lampariello, faced criminal charges. He pled guilty last year to wire fraud and will be sentenced this August. Another bank, Wells Fargo, is still haggling over how much it will pay. As recently as Feb. 11, Campbell reports, the receiver handling the case on behalf of investors stated that he's collected $157.5 million in the past three years, which translates to only 19 cents for every dollar lost.

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4 comments
R.N.inNY
R.N.inNY

18usc241,   What you describe is going on from coast to coast.  Anyone who tries to address it in any meaningful way is labeled "crazy" and marginalized.  How it will be stopped is anyone's guess, but I know this:   If it isn't acknowledged and stopped, it will be the undoing of this country.

R.N.inNY
R.N.inNY

18usc241,   What you describe is going on from coast to coast.  Anyone who tries to address it in any meaningful way is labeled "crazy" and marginalized.  How it will be stopped is anyone's guess, but I know this:   If it isn't acknowledged and stopped, it will be the undoing of this country.

R.N.inNY
R.N.inNY

18usc241,   What you describe is going on from coast to coast.  Anyone who tries to address it in any meaningful way is labeled "crazy" and marginalized.  How it will be stopped is anyone's guess, but I know this:   If it isn't acknowledged and stopped, it will be the undoing of this country.

18usc241
18usc241 topcommenter

I hope that you are not missing one of the most important aspects of this story. From your articles: 

"But when he went to pick up his car at the impound lot on July 5, he quickly saw something that hadn't been in the vehicle when the police had found the gun—a plastic sack full of pills, each one stamped with the Playboy-bunny logo."

When a vehicle is impounded it's in the possession of the police and the impound yard. Who in that chain  of possession planted the additional garbage? The police department and impound yard outta be water boarded until someone tells the truth. 

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"His daughter's car flipped on the 22 freeway... He found a two-inch slash in one of the tires. "

I can tell you who did that - scumbag confidential informants that do the criminal bidding of LA/OC law enforcement and other well financed civilian pricks. Your tires were definitely slashed on purpose and the bolts on your daughters wheels were probably loosened. I had that happen to me before but caught it before I drove away. I'm the victim of attempted murdering garbage as well except my car didn't flip over (I was deliberately cut off on the 22 freeway eastbound after getting on at Beach Blvd). I did see a cop flee the scene afterwards however. 

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"Irvine police refused to investigate his claims"

Question to Irvine PD - why the fuck did you not investigate? Covering for someone? It's what you OC boys do best. Like the Catholic church hierarchy pretending to have a direct pipeline to God with one hand while covering up the criminal acts of little boy sodomites with the other. Yeah right!

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"Mogel, Anderson added, then proceeded to brag that he had a friend named Mikey Delgado, a weight-lifting thug who had Santa Ana cops on his payroll and could cause trouble for Fitzgibbons or any other doctor who interfered with the company. Mogel appeared to relish in Fitzgibbons' plight, even remarking, "People don't know how powerful I am."

Statement of fact: 

There is a criminal network in Orange County consisting of hundreds of cops and CI's committing crimes per request. It's why I asked the question at the Anaheim city council meeting with Police Chiefs and whoever the hell else present: How can you be fighting crime and committing crimes at the same time? And how can you claim to care about gang member crime when I've seen you use Hispanic gang members to harass this Hispanic man. So far no answer except for 3 Anaheim police vehicles parked at the front entrance to my apartment the following morning and an Anaheim fire truck at the same spot with several fire morons standing near the front entrance to my apartment in the afternoon. 

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I document this criminal stupidity on my social media channels by the same name. 






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