My former employer, Michael Cingari of MSM Capital Corporation, I feel has committed several corporate crimes and should be investigated for running a Ponzi Scheme & performing mail fraud the Last 8 months he was in business. Also be personally responsible for fully paying my awarded judgment of $26,875.00 in unpaid wages.
CEO Michael Cingari created a ponzi scheme to fraud potential customers and employees out monies owed to pay off company debt. I have overwhelming proof that CEO Mike Cingari committed perjury in my labor board hearing and would like to sue him for $500,000.00 personally for damages accrued by not being paid my judgment.
I know he falsified files, gave false testimony and knowingly tried to deceive the court during my labor board hearing. If you look at files submitted as evidence by Mr. Cingari to the labor board and subpoena the originals from the debt sources that funded my deals, you see 2 different files. Review his testimony and you will see the many contradictions he makes during my case.
9 former employeess successfully sued him for over $200,000.00 dollars to which only one was paid. His bankruptcy is an attempt to again avoid paying his former employees their wages that the labor board ordered they pay.
He dragged out the processes allocated by the law to its fullest extent.in the mean time he gets away with my $26,000, defrauding the labor board, stealing tax money from the state and federal tax board, $1.3 million dollars in deposits customers sent in and laughs all the way to the bank because hes protected through his corporation. I asked the courts, the labor board, the Orange County DA and the Attorney General to look very hard at MSM Capital Corporation and its CEO Michael Cingari. Nothing was done and the common response was, It happens, sorry. MSMs corporate practices are no different than recent companies like Eron and Worldcom that defrauded millions and need to be brought to justice.
Published in the Leasing News
MSM Capital (8) MSM Capital, Irvine, CA, Mike Cingari, former president starts another leasing Company. (8) to file ch. 7 bk. Seven employees have judgements in excess of $192,000 for back commissions, as well as other employees have disputes over other benefits, plus many equipment dealers have not been paid, many applicants have not received their advance rentals back. (7) Close doors, let everyone go. (6) down to a skeleton staff (5) MSM Capital makes Leasing News Bulletin Board for many complaints of not returning money. Cingari is "not available." (5) Employees sue Mike Cingari for back pay and win, many advance rental payments not returned, it is reported, many problems here.
It has been brought to our attention that Mike Cingari has started a new company.in a conversation between our credit manager and one of our lenders, the lender mentioned that Mike Cingari has a new company called CROSSWATER CAPITAL. We have investigated these allegations and have found them to be true.
Following are the results, all from public information sources on the internet:
From Corp. Verification from State of CA:
Location:
CrossWater Capital, Inc
15615 Alton Parkway, Ste 175
Irvine, CA 92618
Incorporation date: 7/25/02
Agent: Grant J. Hallstrom
The below information is the website information, DNS servers, and hosting company from the WHOIS database.
The address listed is his HOME address and does not match the address he has listed with the Sect of State. If you dial the phone number, a secretary named Theresa will answer and tell you that it is the office of Michael Cingari and ask you whether they can help you. This past month, I received notification that MSM Capital as well as NASBA Capital were declaring Chap 7 Bankruptcy and that the company had no assets what so ever. Where do we think the seed money for Crosswater Capital came from? MSM Capital has not paid employees, has not returned funds to lessees, has not paid his banks and creditors
Sincerely
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