Richard Altomare & USXP sued for back wages. I recently discovered a lawsuit that was filed in United States District Court, Southern District of Florida (Moulton v. Universal Express,Inc. et al) against Universal Express, Inc. (USXP.PK) for back wages allegedly owed a former employee. The suit also names Richard Altomare, the former CEO (also known as "Commander Fluffy" in investor discussion forums) as a defendant.What comes next is of no surprise to anyone following the saga of Altomare's penny stock scam-a-thon: the plaintiff alleges she was made to work overtime without compensation.
Previously, we learned from documents filed by the court appointed receiver that USXP employees charged tens of thousands of dollars in company expenses on their personal credit cards in an effort to keep the company afloat, charges Altomare never reimbursed.
Where is Richard Altomare?
Last month the attorney for the plaintiff in the case for back wages submitted a motion for a default judgment which was apparently denied by the court for lack of service on one or all of the defendants. Maybe they can catch the defendants in Florida now.Altomare was recently in New York answering questions about his finances in respect to the $21.9 million judgment the S.E.C. obtained against them. Had Altomare not shown up for that hearing judge Lynch, in no uncertain terms, assured Altomare he would go to jail. The Judge & the S.E.C. would like to know where all the money went.
As Gary Weiss said in another article published on 2-8-08, it's: "Universal Express, Again and Again and Again".
Let them eat cake?
While Richard Altomare and his wife Barbara were living it up, their employees, shareholders and vendors were being told Universal Express was the victim of an imaginary offshore shorting scheme our government helped enable. Altomare even went so far as to take out a full page ad in the New York Times and publish a press release that said his firm has "Declared War on Naked Shorts".Yet take a look at where they were living: here is a $1,195,000, 4396 sq ft 4 bedroom home they are trying to sell "furnished": http://www.palmbeachflorida.com/mls_listings/R2845377
The asking price on the other home they have listed with MLS is $3,900,000: http://www.joanirichter.com/idx/residential/R2854757/details.html
Is Altomare Going to be Moving Out of Dodge?
While his employees were minding the store it looks like Altomare was busy taking some mortgages out on his homes before the S.E.C.'s hammer came down hard on him: http://tinyurl.com/26rkmu http://tinyurl.com/24ndp8 http://tinyurl.com/394xk7 & http://tinyurl.com/2ht6ykAlthough the S.E.C. has obtained a judgment against Altomare and his scam company has been seized it appears USXP continues to be the gift that keeps on giving, if you are Richard Altomare.
Brad Rinehart can be reached at brad.rinehart@yahoo.com
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5 comments:
Hey, great Article on Blog by Floyd Norris of NYTimes.
http://norris.blogs.nytimes.com/2008/02/08/universal-express-again/#comment-8054
Any thoughts on Federal Income Tax, Florida Use Tax, and other issues that might have come up during Richards Testimony UNDER OATH?
I am thinking BOXED! Your thoughts?
Brad-One SEC/Receiver report was interesting regarding those suddenly urgent mortgage applications; In his statement of assets on the Application, Altomare and Co-Applicant Babs listed the value of his USXP stock @ $32,000.
Certain bank fraud statutes come to mind.
Star
Actually, Judge Lynch computed $29,000 while questioning Altomare under oath. Altomare claimed a $32 MILLION valuation. Had he claimed $32,000 he would not have committedc the Blatant Bank Fraud he did! He will regret that bit of tomfoolery, I bet!!
Did you read where the Jewelry Purchase DID NOT have FL Taxes applied? OUCH. Another crime! When will Altomare finally begin to obey the law? What a common thief and crook!
I'm surprised the Judge has not given more attention to the mortgages, like in "where's the money?" I mean, if Altomare has been ordered to make payments what possible excuse would he have for not making the payments?
Any links to Florida codes covering the collection of sales tax?
Sure!
Florida Consumer Information
Have you bought or received merchandise from out of state or through the internet?
You Might Owe Florida Tax
Most Florida citizens are not aware that this state has a "use tax." Use tax normally applies to items purchased outside Florida, including another country, which are brought or delivered into this state and would have been taxed if purchased in Florida. The use tax rate is the same as the sales tax rate, 6%.
http://dor.myflorida.com/dor/consumer/
---------------------------------
Compensation for Tax Information - Reward Program
The Executive Director of the Florida Department of Revenue is authorized to compensate persons who provide information concerning persons or businesses who are evading the state tax laws.
If you have information about a tax law violation, you can report it and request a reward by completing an Application for Compensation for Tax Information (Form DR-55).
If you wish, you may report a tax violation by telephone, fax, or mail and remain anonymous. However, you will not be eligible to receive a reward.
To contact us:
If you are in Florida, call 1-800-FL-AWARD and select choice #2.
If you are out of state, call 850-922-2668.
Or fax to: 850-410-2526
Or write to:
COMPENSATION FOR TAX INFORMATION PROGRAM
FLORIDA DEPARTMENT OF REVENUE
PO BOX 6417
TALLAHASSEE FL 32314-6417
Tax Laws - The rewards program is authorized by section 213.30, Florida Statutes, Compensation for information relating to a violation of the tax laws and Rule 12-18, Florida Administrative Code, Compensation for Tax Information. For more information, visit the Florida Tax Law Library.
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