Test Test Test Investors sue over $13 million

Full story: Monterey County Herald

TEST PURPOSES ONLY A Monterey man has been accused of defrauding 29 local investors -- including many of his friends -- out of $13.5 million in a case discovered earlier this year while the man was fighting a ...

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Rose

United States

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#1
Mar 25, 2007
 
I just finished reading the "Ponzi Scheme" by Mitchell Zuckoff because I know a number of the investors who were swindled in this case. The DA, police, lawyers, bank commissioners, victims nor the Massachusettes Attorney General were able to bring Charles Ponzi down. It was a reporter from the Boston Globe who was sent to look for evidence and found it. The Boston Globe worked hard on the Ponzi "story" and received a Pulitzer Prize for their efforts. In today's Herald article (3/25/07) it sounds like the DA may or may not bring criminal charges although Zubick created false (cut and paste)documents for brokerage houses, family trusts statements and tax forms. Now isn't that against the law? Jay has admitted to doing all of this and is only cooperating, hoping for sympathy and a plea bargin so he won't go to jail. If he gets away with this he'll continue to do it again. He's a financial predator. If he gets away with this I'm going to change my career and follow in his footsteps. I see how it works now. It's so easy. This is amazing.
abcdefg

United States

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#2
Mar 25, 2007
 
abcdefg
This is ridiculous

Santa Cruz, CA

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#3
Apr 24, 2007
 
Seriously. After being in this situation, have to rip up his and his families lives, having to pull his children out of thier school, and going from lavish to...not so lavish, why would he do this again. really, do tell. I think that its pretty obvious he WONT do this again. he isnt a rapist. He's not going to get out and go do it again. I've never heard of that pattern for "financial predators" as you so rudely labeled him. so please explain to me, why on earth someone who did this in the first place to give his family the best they could have, would do it again, and put them through something like this once more. really, please share. Does anyone even know what they're talking about?!?!?
thanks this is rediculous

Redwood City, CA

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#4
Apr 24, 2007
 
mr. zubick never intended to hurt anybody. the investors were friends that were mistreated and have a right to be angry, but this does not concern all of monterey! comparing him to ponzi is over the top and extremely disrespectful. with our greed ridden society its hard not to care how big of a house someone lives in or the type of car they drive. this is no excuse, but bringing his family into the mix is completely and utterly RUDE. especially when you know nothing about the story. reporters, as anyone who has ever been in the newspaper for anything, good or bad, knows, reporters are liars who play up every story to make it more appealing. his family had absolutely nothing to do with it, so stop trying to spice up your sorry lives with someone elses mistake that has nothing to do with you and learn the story before you speak. thank you this is rediculous for stating the truth.
kevin

Monterey, CA

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#5
Jun 5, 2007
 
Rediculous and rediculous .Did he take your money?
An Ex Friend

Monterey, CA

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#6
Jun 5, 2007
 
Whoever considers this ridiculous is seriously deluded. They should talk to the couple who lost their home...to the parents of the special needs kid who lost their money...to the people who trusted and believed Jay. The guy is a sociopath who lived solely off of other people's money. That he allowed his kids to do the same is truly sickening. We can only hope justice will be served and that this guy will serve some serious time in prison.
Monterey resident

United States

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#7
Jun 12, 2007
 
thanks this is rediculous wrote:
mr. zubick never intended to hurt anybody. the investors were friends that were mistreated and have a right to be angry, but this does not concern all of monterey! comparing him to ponzi is over the top and extremely disrespectful. with our greed ridden society its hard not to care how big of a house someone lives in or the type of car they drive. this is no excuse, but bringing his family into the mix is completely and utterly RUDE. especially when you know nothing about the story. reporters, as anyone who has ever been in the newspaper for anything, good or bad, knows, reporters are liars who play up every story to make it more appealing. his family had absolutely nothing to do with it, so stop trying to spice up your sorry lives with someone elses mistake that has nothing to do with you and learn the story before you speak. thank you this is rediculous for stating the truth.
The truth is hard to swallow. Those friends he mistreated have friends and so on... It is called a ripple effect. What do you mean he "Never intended to hurt anyone"? Are you insane? Come on now....Are you Mr. Zubick? You sound like you might be. Any self respecting human being would not do what he did. He is greedy, envious and just plain pathetic. I pity his children. They will live with the shame and karmic debt that he has created for the rest of their lives. What type of value system did he teach. If you can't make money on your own.....STEAL IT FROM YOUR FRIENDS. Do not try to justify his behavior in any way. Denial is a serious form of illness. Get the help you need.
Monterey resident

United States

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#8
Jun 12, 2007
 
This is ridiculous wrote:
Seriously. After being in this situation, have to rip up his and his families lives, having to pull his children out of thier school, and going from lavish to...not so lavish, why would he do this again. really, do tell. I think that its pretty obvious he WONT do this again. he isnt a rapist. He's not going to get out and go do it again. I've never heard of that pattern for "financial predators" as you so rudely labeled him. so please explain to me, why on earth someone who did this in the first place to give his family the best they could have, would do it again, and put them through something like this once more. really, please share. Does anyone even know what they're talking about?!?!?
Zubick you are a sick. Get help.
Formerly From Salinas

Modesto, CA

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#9
Jun 13, 2007
 
In reply to "This is ridiculaous" -- The predator Mr. Zubic was in fact barred several years ago for the same illegal acts he has committed today. Reasearch your info before you make such arrogant statements. Check out this government document for the evidence:

http://www.corp.ca.gov/enf/info/adm/07pdf/zub...

"On September 19, 2000, Zubick was barred from association with any NASD member in any capacity for violations of NASD rules 2110, 3040 and 3050 during 1997 to 1998 when employed with broker-dealer PLC, a NASD member firm."
To Monterey Resident

Santa Monica, CA

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#10
Jun 15, 2007
 
Leave his children out of it. They will not live with his shame and will not pay "karmic debt". What is ridiculous is that your anger is allowing you to wish misfortune upon four innocent, caring, and wonderful children. They didn't steal, cheat or lie and nobody should wish for them to suffer and as you said pay "karmic debt" for crimes committed by their father.
Monterey Resident

United States

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#11
Jun 16, 2007
 
To Monterey Resident wrote:
Leave his children out of it. They will not live with his shame and will not pay "karmic debt". What is ridiculous is that your anger is allowing you to wish misfortune upon four innocent, caring, and wonderful children. They didn't steal, cheat or lie and nobody should wish for them to suffer and as you said pay "karmic debt" for crimes committed by their father.
In no way do I wish ill will towards his kids. I truly believe they all deserved better. The shame of what their father did is undeniable. On the contrary, I feel tremndous saddness for his kids and extended family. Zubick ignored everyone but himself. This much is true.
Charlie

Monterey, CA

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#12
Sep 4, 2007
 
kevin wrote:
Rediculous and rediculous .Did he take your money?
Really REdiculous, that you don't get why everyone is baffled! but judging by the rEdiculos twice, we can't expect much - can we.
Chip Allen Lockwood

Monterey, CA

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#13
Sep 7, 2007
 
Suzanne, if you see this, please contact me at my office number. My heart goes out to you and the kids.
Courtney Zubick in Canada

Canada

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#14
Sep 20, 2007
 
I am Jay Zubick's niece and I would just like to wish all the best to Sue and my cousins. Even though we don't see eachother much we all love and support you guys. Regardless of what has happened we are Family and we stick together. Jay has made a big mistake but hasn't everyone made mistakes?? Don't pass judgement upon someone when you are the one whom should be judged!!! I admit what Jay has done was wrong but when you get into something so deep it's very hard to turn back.
Dawn Zubick

Canada

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#15
Sep 23, 2007
 
I have to agree with my daughter...Courtney Zubick..sometimes people just get caught up in a "web" of lies and deceit and it becomes their "realty" and truth. We have all made mistakes and in God's eyes, SIN is SIN...whether it be a large matter or small one...HE alone can judge the heart...and really see the motivation and secrets that live there. Read the story of the Prodical Son...if Jay has truly turned his heart to God and to those he has hurt..in true repentance, then Jay has already been forgiven...yes, consequences still need to be paid..but it's time for healing and seeking out God's hand of provision to help those whose lives have been shaterred due to the financial losses...although..God provides only what we NEED...
Prison

Monterey, CA

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#16
Sep 25, 2007
 
What prison did jay go to?
guest

Whitby, Canada

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#17
Jan 2, 2008
 
Hi could someone tell me how I can Write to Jay, I went to High School with him, I think he could use a friend?
Lila Jones

Brampton, Canada

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#18
Feb 8, 2008
 
Yes, Dawn...Havent we all sinned, and it seems like your web of deceit and lies became your reality. Maybe you take after each other more then anyone knows or thinks. You really shouldnt be quoting god's scriptures after what you, yourself has done.
What he did was a terrible thing, does he deserve a seond chance, I think not, and I dont think his actions should be defended in any way.
Guest

Salinas, CA

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#19
Mar 1, 2008
 
Lila Jones wrote:
Yes, Dawn...Havent we all sinned, and it seems like your web of deceit and lies became your reality. Maybe you take after each other more then anyone knows or thinks. You really shouldnt be quoting god's scriptures after what you, yourself has done.
What he did was a terrible thing, does he deserve a seond chance, I think not, and I dont think his actions should be defended in any way.
AMEN!
Guest

United States

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#20
Jan 29, 2009
 
Well maybe the people that saw big $$$ as a potential return on their investments should have Googled his name first?!? They would have and should have known about his past, Dawn. As others have said, the investors are at leat 50% liable. What is one of the first rules you hear about in life? If it sounds too good to be true, it probably is.

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