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» Air America's Charity Scam Denials Don't Ring True from Wizbang
Yesterday we covered the story of Air America Radio receiving nearly half a million dollars in "loans" from a Bronx boy & girls club that Air America owners don't seem to remember anymore. Based on published reports from June, 2004... [Read More]

» AIR AMERICA IS SCRAMBLING from Michelle Malkin
Late last night, I received an e-mail from Air America's webmaster and former Howard Dean staffer, Adam Mordecai. He wrote "Some answers to your questions" and included a link to/text of a new statement from the beleaguered liberal radio network... [Read More]

» Where Is Franken's Outrage? from UNCoRRELATED
What do you think about the raging Air America funding scandal? Oh? What? You don't know what I'm talking about? Why am I not surprised. [Read More]

» Air America Muddies the Waters in Missig Money Case from Wizbang
Air America issued a second statement today on the the shady deal where a half a million dollars that was supposed to help children got diverted to the failing radio network. Reaction in the blogosphere is mixed. Capt. Ed sorta... [Read More]

» Al Franken got paid how??? from The Anchoress
If you have not been following the story of how Air America sayed on the air by apparently using money meant for children and the elderly well, where have you been? I admit when the story first broke, I figured it would be yet another story wherein t... [Read More]

» The Corruption In Air America, Update from Flopping Aces
I am expecting that crowd to tell us that Karl Rove was behind this at any moment. [Read More]

» Air America Fraud and I Don't Mean the CIA from Right on the Left Beach
The new owners of Air America - the Al Franken radio network - are just a little too glib in their attempt to dispel inquiry into the Gloria Wise Boys Girls Club scandal. Hat tip Instapundit. The scandal arises over [Read More]

Comments

Al Frankin

I must disagree with your comment..

"Air America is accused of receiving part of its investment capital by diverting public funds that were intended for use by Boys and Girls clubs. So far as I know, no one is yet disputing this fact."

Air America is not accused of diverting public funds. Someone from this club is accused of diverting public funds. Air America had no access or control over any public funds intended for this club. It would be more correct to say that they may have received public funds that were diverted by someone from this club. Assuming, that is, you care to be correct.

MachoNachos

Too right you are. That sentence should read "through the diversion of public funds" not "by diverting public funds". Careless grammar has bitten me in the backside, and I shall correct it.

Al Frankin

Thanks for the correction

Kenneth Greenlee

Mr. Nachos,

Has the question been raised (excuse the layman terms; I am not a lawyer) whether Piquant LLC was created (solely or primarily) in order to distance themselves from the liability generated by the previous owners?: "yes, what the organization previous to Piquant did was wrong, but that organization no longer exists".

I know that there is a legal principle whereby if you transfer assets to a trust, corp, your wife, etc., and there is reason to believe that you did so to avoid a debt, liability, or seizure, that that transfer can be considered null and the asset can be seized.

Transfer an asset in the course of normal financial planning (and well before any suspicion of wrongdoing), and that transfer stands as legit and the asset is not seizable.

MachoNachos

Mr. Greenlee,

Let me addres this as best as I can, fully understanding that I am not a legal expert in these areas.

First, it does not seem, from the facts of the case as we know them, that this is true. Mr. Cohen's organization and this Piquant LLC do seem to be two genuinely separate and unconnected business ventures.

Second, I understood the legal analysis above to indicate that as long as the new corporation sold these assets for a fair price, it will be very hard to nail Piquant on this.

nocoen

Al --

If you are so truely concerned about the little guy, why don't you make a donation to the Boys and Girls Club ...

That would go a long way towards repairing the damage caused by the mismanagement of the prior group of crooks that run your so called network...

R. Teal

Al Frankin (sp) in the above post states that "Air America had no access or control over any public funds intended for this club." Wrong! The 'access' is Cohen's position as a board member of the Gloria Wise which allowed him to influence Rosen. That's obvious.
The 'control' of the funds was clearly in the hands of Air America
when a check was presented or funds were offered in some manner. At that point Air America (Cohen) could/should have returned the public funds so that they could have been used as intended. That's also obvious. To try to separate Air America from Cohen is simply
being dishonest.

Cloud Master

Is it true that there are several common owners of the old Corp and Piquant LLC? Please ask the experts what effect any common ownership or directorship would have on Piquant's liability.

Becker

With respect to the principals involved in Piquant, LLC and those involved in the original ownership of AA, they are the same people less Rosen and Cohen.

I would ask your lawyer-in-the-know about the following scenario:

The transaction gives the appearance of a "straw" sale to avoid creditors. A bankruptcy filing could have legally accomplished the same thing except it would have exposed AA to significant negative publicity. It also would have involved the Federal Bankruptcy Court, auditors and all sorts of nastiness with respect to the transaction in question.

MachoNachos

Cloudmaster and Mbecker - do you have any links that prove that the leadership of Piquant and Progressive Media are so intertwined? If so, I'm VERY interested to have them.

zeppenwolf

What.

Ever.

WHEN do I get to see Al Franken in 'cuffs?

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