Ponzi Scheme Hits SCSD, District Face...

Ponzi Scheme Hits SCSD, District Faces Bankruptcy

Posted in the Salton City Forum

S S R

United States

#2 May 2, 2009
Barrett is using his dead brother in laws name again to write more untruths.

If barratt was so intrested in helping the community why don't he get off the board and have another school teacher replace him. At least they use good common sence. both the hippy and the bald man think about the subject before they open thier mouth !
ALSO, ever wonder why the distict uses the SAME AUDITOR each year to aduit thier books.? The state law states it must be a different auditor or company each time.
Long Time Resident

United States

#4 May 17, 2009
Name calling is sooo juvinille!!
Who is the dead brother-in-law? Who are you referring to?
As for the auditor -- the one that answers the published ad is the one that gets the bid. Seems that no one wants to travel the distance to audit the books except the same one that has been doing it for all of these years.
If YOU know of someone else let them know they certainly can put in a bid just like everyone else that this opportunity is available to them.
'The hippy and the bald man?' PLEASE grow up and stop the name calling! That is soooo not adult or werthy of comment!!!!!!!!!!
AKA SCSD Director Barrett

United States

#8 Jun 27, 2009
Ponzi Scheme Hits SCSD, District Faces Bankruptcy

by J. F. McGuire

Just like so many other institutions hit hard by the current banking crisis and the scandals surrounding financing Guru George Madoff, the Salton Community Services District now sees itself facing bankruptcy due to unsound business practices and shell game money shenanigans.

As the end of Fiscal Year 2008-09 approaches on June 30th, 2009 a close look at the SCSD’s books shows that the district lacks sufficient capital to fulfill its’ financial obligations not only to its’ vendors and utility suppliers, but also to its employees.

The reason for the SCSD’s financial situation is a combination of bad financial planning, irresponsible policy making, and as many have orated, just plain incompetence.
read the rest of the truth at:

www.saltonseawest.com

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