Financial friendship turns sour

Jul 20, 2007 Read more: South Florida Sun-Sentinel 101
For a decade, Helen Alpert, an 86-year-old from Lauderhill, thought of Doria Sabia-Lawrence as much more than her Merrill Lynch financial adviser. Read more
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Concerned in Boca

Miami, FL

#1 Aug 9, 2007
We have a similar Story here about an accountant named Mark R. Colodne in Boca Raton who is tax accountant turned self proclaimed Hedge Fund manager of GreenOak Hedge Fund. He has and continues to take money from many elderly people and other tax clients that regard him like 'family'.
To date he has has taken people's life savings, nobody can get their money out. He seems to have slipped under the radar somehow. He still continues to operate to this day and continues to prey upon unsuspecting and unsophisticated investors. Most are afraid to report him as they are afraid that they will loose all of their money by reporting him.
Why is this allowed to happen?
Bocagirl

Melville, NY

#2 Oct 9, 2007
This same thing has happened to us with MARK COLODNE...and we are told it is not enough money maybe if we all get together
Bocagirl

Melville, NY

#3 Oct 9, 2007
we can make this guy pay!!!!
Janice James

Miami, FL

#4 Oct 10, 2007
Bocagirl wrote:
This same thing has happened to us with MARK COLODNE...and we are told it is not enough money maybe if we all get together
Update since last postin. We know now that any money lost by over 23 investors that were scammed by this man is enough to get help. I know from experience. Regulatory bodies are looking into this guy already. There are people that have hired attorneys like Blum & Silver here to represent them before the Fed's put him away in Club Fed for his scam operation.
Let me know if you want to join in with the people that have gotten fed up that desire to stop this man from stealing more money.
Janice James

Miami, FL

#5 Oct 10, 2007
Bocagirl wrote:
we can make this guy pay!!!!
Yes. This man Mark R. Colodne can be brought to justice. Anyone that has lost money by this guy can Google the 'Green Oak Hedge Fund' and see for themselves that it is a scam. I suggest anybody that has been ripped off by this scam Hedge Fund operation get themselves a good attorney. Then all of these people will all be able to find each other and join to stop him from taking other people's money.
I hear he even told other investors that he could not give them back their money because he used all of their money all to pay attorneys for loosing other people's money that he lost! Imagine, him saying that he got ripped off from an (illegal) business deal with money that was suppposed to be invested someplace else and he violates his own offering!!!
Janice James

Miami, FL

#7 Oct 10, 2007
CORRECTION: if you google to check up on him use:

Greenoak Hedge Fund
Concerned about my money

Pompano Beach, FL

#8 Dec 20, 2008
I am concerned, something made me google Mark's name and his hedge fund, especially after reading about Madoff. We have known Mark for many years a chunk of money with him and lost 70% of it, but this is also at a time when the market went sour....does anyone else have any experience with this??? We lost it around the time of these other posts, around fall 2007. Is there anyone else out theren who is SURE this is a scam???
Reason for Concern

Pompano Beach, FL

#9 Dec 30, 2008
Concerned about my money wrote:
I am concerned, something made me google Mark's name and his hedge fund, especially after reading about Madoff. We have known Mark for many years a chunk of money with him and lost 70% of it, but this is also at a time when the market went sour....does anyone else have any experience with this??? We lost it around the time of these other posts, around fall 2007. Is there anyone else out theren who is SURE this is a scam???
You do have reason for concern. It is a scam Mark Colodne's mismanagement of people's money and all the money he has lost is a shame. I wonder how this guy even sleeps at night knowing how he has ruined people's lives. He probably is still soliciting people to invest with him....sounds a bit like a Ponzi to me as he managed to pay 'some' people back a little money maybe to keep them quiet.

He is just keeps going on somehow....he apparently misused funds from the Green Oak Hedge fund and instead of doing 'his writing of options' method he apparently got scammed by a bigger fish. There is a court case in Utah for Green Oak vs Rick Hopkinson, E-Centurion case 2:06-cv-636. There is a jury trial set for November 2009.

Apparently Mark was doing business with this guy Rick Hopkinson to supposedly sell electronics somehow here and abroad and looks like the guy made off with all the money from Green Oak as Mark was stupid enough to put all the money at risk???

The question is do you really want a guy like this to handle ANY money after this giant debacle???? I understand only too late that he has tried and failed before to 'manage' money and attempts implementing money making schemes...
camper of the saints

Miami, FL

#10 Dec 30, 2008
Click and win !

http://www.lauderkill.com
Boca Girl

New York, NY

#11 Jan 27, 2009
Maybe with this Madoff nightmare, the feds will start paying more attention to "little people" who this has happened to. Mark Colodne is nothing more than a white collar criminal who continues to go on with his life with no recourse for his actions!!!! The Green Oaks Hedge Fund NEVER existed!
GRANDMA IN BOYNTON BEACH

Lake Worth, FL

#12 Jan 28, 2009
I too invested with Mark and lost everything! I have contacted every agency and the only one slightly interested was the Florida Dept. of Finance an Regulations, Mike Ward investigator, and I have heard nothing from him in over a year even after repeated inquiries, however I have recently heard from the New York Bar Dept. of Disciplinary Committee (John Pugliese) They ARE investigating him. I doubt if I will ever see a dime, but at least maybe we can stop him. As far as I know Blum and Silver reached a dead end.
lost 50K

West Palm Beach, FL

#14 Feb 18, 2009
I know where he lives and actually am a family friend. I can't believe my $50,000 is really gone, if any of you would like to get together to try and destroy him, lets do it
All For A United Front

United States

#15 Feb 26, 2009
If we all got together we could do something....SO, if you all check back here maybe someone will volunteer to 'gather' us and present a united front to Mark and his supposed attorney for GreenOak...I am willing to set up an email address and we can all exchange some kind of contact information or just call this attorney Michael P. Michael P. Studebaker. 2550 Washington Blvd. Ste. 331. Ogden, UT 84401 and let him know who you are! Can't leave phone numbers here.....
FAILTO SEE JUSTICE UNLESS

United States

#16 Feb 26, 2009
You think with all the BIG fish out there that they will pay attention to Mark...THE LITTLE FISH???? I think it is probably up to all of us to do something about it because the feds are slow to act and too busy cleaning up after sleeping on the job TOO LONG anyways.....
Glad I Found This

Fort Lauderdale, FL

#17 Mar 17, 2009
I was actually considering having this guy help with the filing of my tax returns. He came highly recommended by a friend who apparently is not aware of his real business of stealing money. Now I will look elsewhere. Thank you for pointing this out, as I am sure he would have suggested investing my savings.
HELP

Clearwater, FL

#18 Mar 19, 2009
I DID MY TAX WITH MARK THIS YEAR 2009 THE IRS REJECTED BECAUSE IT WAS A MISTAKE THE PROBLEM IS THAT WHEN A CLIENT HAVE A TAX PROBLEM MARK DOES NOT PICK UP THE PHONE I HAVE WAIT ALMOST 6 WEEKS I SPOKE WITH THE WIFE THE WORS SECRETARY EVER AND SHE SAID THEY ALREADY CORRECTED BUT IT WAS A LIE THEY DONT PICK UP THE PHONE THEY CHARGE ME $100 I DONT NOW WHAT TO DO. LAST YEAR ONE OF MY FRIENDS HAD WAIT 3 MONTH UNTIL HE FIX THE PROBLEM OR ANSWER THE PHONE.
Chris

Hollywood, FL

#19 Mar 22, 2009
What does Mark tell you when you ask for the funds back?
Boca Raton

Miami, FL

#20 Mar 25, 2009
Reading this and its ridiculous. I've checked into this really carefully about Mark. FIrst of all Janice James did not get wronged!!! She got back all....all of her money...all $157,000 of it. Not a penny was missing. What is she bitching about? He did not steal anything. If you care to look in court records, the Fund won a lawsuit in Federal court in Utah for $2.2 million and is collecting on it. He is a hard working guy. Has a lot of tax and accounting clients that LOVE HIM!!...including me!! These are just malicious lies!!
No Complaints

Miami, FL

#21 Mar 26, 2009
Been going to Mark for over 20 years. The guy has always done right by me. I must say, though, he is overwhelmed and should get better help, otherwise, the guy has always been fair.
Chris

Hollywood, FL

#22 Mar 29, 2009
The Reason I asked my questions is because he has done great by me too. I will not trust my taxes with no other person. I will agree with the person above me he is under staffed and could use some assistance but thats about it.

I had my post regarding "What does Mark tell you when you ask for funds back" Not one person relied. I would think if people here are in real need or having problems getting money back they would have wrote somthing.

If anyone replied to this post please say how much you have invested and what he has told you.
Also when did you try to redeem your funds?
If Im not mistaken (I maybe wrong) Hedge funds redemtions are done quaterly Meaning you can only take funds out In certain times.

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