1031 Tax Group files for Chapter 11

[one pissed off victim]

BLOGGERS get a life! and stop living in the past. OKUN is gone and so are the other cast of characters, Simmering,Fields and Coleman...Justice has been served and recoveries are coming soon. As the Judge said :Those who ruin the lives of others could have their lives ruined as well. Maybe some of the bloggers need therapy, Its just not normal to keep harping on insignificant people and insignificant details of events that happened 2 years ago. Try to move on with your lives and focus on something positive. I wish they would shut this site down.

[another victim]

one pissed off victim wrote:

BLOGGERS get a life! and stop living in the past. OKUN is gone and so are the other cast of characters, Simmering,Fields and Coleman...Justice has been served and recoveries are coming soon. As the Judge said :Those who ruin the lives of others could have their lives ruined as well. Maybe some of the bloggers need therapy, Its just not normal to keep harping on insignificant people and insignificant details of events that happened 2 years ago. Try to move on with your lives and focus on something positive. I wish they would shut this site down.

While you have made a few good points, move on with our lives, for some, it may not be that easy. You could've been a little nicer in the way you wrote it. Things like this affect different people different ways. If you have moved on, then you simply need to stop checking this blog. For the others, let them move on in their own time. I am a victim who will see no financial recovery, but after the sentencing of the parties involved, I finally have some closure. I hope I never come in contact with people like them again in my life. Good luck to you, and everyone on this site... we all need it to get our lives back to normal.

[1031 Victim]

If you were an exchange victim of the 1031 Tax Group (or one of the other qualified intermediaries acquired by Ed Okun) and you have NOT rec'd in the mail a heavy large envelope from Golenback, Eiseman, etc.(the law firm for the Trustee)transmitting the Disclosure Statement/Reorg plan and a BALLOT (to vote it up or down), you should immediately contact Jerry McHale, the Trustee at [e-mail].

If you've EVER had an attorney representing your interests in this matter, you might call him/her to see if the materials were sent to them instead of to you. The deadline for returning the ballot is Sept. 25.(FYI, assuming the settlements, etc. are approved by those who do vote, you can still benefit from the recoveries whether or not you return the ballot. HOWEVER your not having rec'd the mailing suggests that the Trustee does NOT have your correct mailing address in which case your checks may not arrive, will be returned to the Trustee and deemed undeliverable and canceled. To ensure you receive the checks you MUST GET YOUR CORRECT ADDRESS TO THE TRUSTEE!!

Recoveries are expected in November 2009 equivalent to 44% of your claim with the strong possibility of more to follow early in 2010 and thereafter.

If you have not rec'd a notice (electronically or in hardcopy) from the Dept of Justice regarding restitution by the four convicted co-conspirators, you should contact [e-mail]. It isn't likely there will ever be much in the way of criminal restitution, but to the extent there might be, you should be sure they know how to reach you.

[Wondering]

Seems Kim Watts is working for an old Okun associate, Louis Rogers. Rogers is the attorney who Okun used to structure most of his TIC deals and was the guy Okun was going to make president of First Montauk, a small broker/dealer Okun was trying to buy before that fell apart. Louis Rogers is now running a similar new company that also is a qualified intermediary. Scary thought.

[Dead Issue]

Old News, Dead News, No News. Still Screwed!

[1031 Victim]

just want 'news ' that is specific to your needs? maybe if you looked outside your box you might not be in this situation. Sorry about your limited outlook and interests.

[1031 Victim]

really? 2 years is SUCH a long time ago to you?? you must not be a real victim then, if that is how you feel. 1031 victims will be in litigation for YEARS. If this blog bothers you so much, then stop reading it. Period.

[I told you so]

To all those who thought Okun was innocent. Bet you feel real stupid know.

[Broke In Jersey]

Well as 2009 comes to an end and we have seen some light at the end of this 2 1/2 year tunnel. I would like to thank those of you that helped keep us informed (EC) about this train wreck. I wish you all a Happy, Healthy and Prosperous New Year.

[Victim]

Checks for about 35.8% of the funds deposited with your 1031 (plus interest earned per each exchange agreement 'til 5/14/07) have gone out to creditors in the bankruptcy. If your's hasn't arrived contact the Trustee (Jerry McHale) and/or your attorney in case the check was mailed to them instead. Checks from the Class action (about 9% of your lost exchange funds) are now postponed 'til mid Feb).

[Aaron Doyle Ong]

What about the truckers from Crossroads???? NOTHING ever came to us as far as compensation for what WE lost.

[yaba doba dooooo]

Ed Okun is a Saint !!!

[Are you crazy]

Are you crazy? After all the individuals and companies he has hurt, you think he is a saint? Are you just looking for a reaction? I have to think this is true. You're just trying to stir ups shit. What an ass!

[okuns prison roommate]

the man laughed at taking all the money.he could even get his mail order bride to send him 50.00 dollars for canteen.she is on the run with his 2 year old son and she has sold everything she could before leaving.the man cried everyday over the lost of his wife and freedom.he braged about all the money he took from people.