Let's start from the beginning - Dieter Esch, chairman of WIlhelmina, in addition to running the modeling agency that is now part of a NY Attorney General class action suit against the modeling industry, has the distinction of being convicted of the largest German stock fraud since WW2.
He is joined by equally legendary convicted US stock fraud artist Cort Randell. Randell, one of the initial players in this now worldwide fraud, runs the accounting end of the company, approving every check. He is signed as the guarantor of the comapny's credit card account. Is it any wonder that with him running the numbers, this charade is almost up?
BUt wait! Surely a big public company must have attorneys to tell them right from wrong! And they do - none other than Richard Jans, who was disbarred for admitting he embezzled his clients' money about 2 years ago.
THAT'S RIGHT - they're getting legal advise from a disbarred attorney.
But why stop there - how can you miss big Lou Pearlman? The chairman of the board's claim to fame is that he started a few boy bands, all of whom, from NYSYNC to Backstreet to Aaron Carter, have sued him for everything from breach of contract to racketeering. Lou's never met a contract his fat walletful of attorneys couldn't help him ignore.
Last but not least we have producer John Daly. These two Brits run MEMI, a sham stock that fronts for Daly's film production company. Have you read their grand press releases?
So there you have it - Daly, Lou, Cort and Dieter, joined by Lou's righthand guy. The end is near.
Can anyone say SEC investigation???!!!
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