PRESS RELEASE
For Immediate Release
March 15, 2007
LESLIE DICK WORLDWIDE LTD. REQUESTS BANKRUPTCY FRAUD INVESTIGATION IN RE: CONSECO, INC. CASE NO. 02-B49 672 WITH SPECIFIC FOCUS ON GEORGE “SOROS” INVESTORS
NEW YORK, NY – Leslie Dick, President of Leslie Dick Worldwide Ltd. has called for an investigation by the US Bankruptcy Trustee for criminal violations of the US Bankruptcy Code. Leslie Dick has asked that certain irregularities, both in the Bankruptcy Filing and the Sale of its two major Assets, the General Motors Building and Conseco Finance be fully investigated and examined.
Conseco Bankruptcy
In December of 2002, Conseco, Inc. filed for Chapter 11 Bankruptcy Protection in the United States Bankruptcy Court for the Northern District of Illinois, Eastern Division Honorable Carol A. Doyle presiding. The Bankruptcy filing by Conseco was the third largest in US history trailing only those of Enron and Worldcom.
Conseco Finance Bankruptcy
On December 18, 2002 a Conseco press release announcing the Chapter 11 filing is entitled:
“Conseco, Inc. Reaches Agreement in Principle on Restructuring with Banks and Bondholders”
It further states, that “Insurance Operations Not Included in Filing” and “Conseco Finance Corp. Reaches Agreement in Principle to Sell Assets through Separate Chapter 11 filing.
Also on December 18, 2002, Conseco Finance Corporation (Green Tree Financial Corporation) (1) announced a Chapter 11 Filing & Sale entitled:
“Conseco Finance Corp. Reaches Agreement in Principle to Sell Company’s Assets to CFN Investment Holdings LLC, a Joint Venture of Fortress Investment Group LLC, J.C. Flowers & Co., LLC, and Cerberus Capital Management, L.P.”
Also on December 18, 2002, Conseco stated:
“In conjunction with the Chapter 11 filing as required under Section 363 of the Bankruptcy Code, Conseco Finance Corp. will file a Motion seeking to establish bidding procedures for an auction that will allow other qualified bidders to submit higher and better offers to purchase the company’s assets.” (2)
George “Soros” Investors Obtain Major Assets of Bankruptcy Estate
“Soros” investors that purchased Conseco’s main Bankruptcy Asset Conseco Finance, also provided Conseco with Debtor in Possession financing of approximately $150 Million Dollars at/or prior to Conseco filing for Chapter 11 Bankruptcy protection. “FPS” DIP financing, a Delaware Limited Liability Company was the entity set up to fund Conseco’s Debtor in Possession financing.
The facts are undisputed that “Soros” investors acquired Conseco Finance for less than one-eighth of what Conseco paid for it less than 5 years earlier. It is our opinion that Harry Macklowe (as a straw front-man for George Soros) acquired the General Motors Building in New York for $100 Million Dollars less that the highest bidder, Leslie Dick Worldwide, Ltd.
The General Motors Building is owned and controlled by George Soros
As alleged in the Verified Amended Complaint the fraudulent General Motors Building “Auction”, was part of an overall Bankruptcy Fraud scheme.
In August of 2003, Leslie Dick Worldwide Ltd. bid $1.5 Billion Dollars in the second round of bidding ($1.456 Billion Dollars on the 1st Bid) – yet the GM Building was sold by Conseco, Inc. to Macklowe Properties for $1.4 Billion Dollars (as a Straw front-man for George Soros) – since all of the equity to close the transaction came from “Soros” owned and controlled companies. The net result is and was that at least $100 Million Dollars less went to the Creditors.
Recently filed Affidavits under oath by Mr. Leslie Dick, attest to the fact that Harry Macklowe is not the owner of the General Motors Building – and never has been. The owner was and is George Soros. The Amended Verified complaint describes a price-fixing, bid-rigging and/or market allocation scheme and conspiracy, that when conclusively proven will make it one of the largest Real Estate Frauds ever perpetrated in the United States of America. Plaintiff Leslie Dick Worldwide Ltd. has filed an Appeal seeking to have his erroneously dismissed Amended Verified Complaint (3) reinstated and allowed to proceed to Trial.
Request for Criminal Investigation and Prosecution
Based upon the facts which our investigation have discovered, it’s our opinion that the Conseco Bankruptcy (for certain of its Assets) was a pre-planned fraudulent Bankruptcy filing, in that, both of the major Assets (Conseco Finance and GM Building) could have been sold at higher market prices without a bankruptcy filing – but for the alleged illegal scheme to obtain these Assets via an illegal and secret agreement. The conspirators have been “aided and abetted” in the scheme and its cover-up by certain brokers, lawyers, and others in the commission of the alleged crimes referenced above, as outlined in the New York Complaint and Affidavits.
Defendant Soros Prior Acts
Public information and news sources reveal that Mr. George Soros was convicted of a felony for insider trading in a French Court and fined $2.2 Million Dollars. The conviction was held up by the French Court of Appeals. From England, Italy, Russia, Argentina, Malaysia, Indonesia, Philippines, etc., George Soros has been accused of the manipulative business practices and schemes inflicted upon them. In fact, Taiwan issued a special decree that threatened “any person cooperating with Soros Funds” would be charged with a criminal offense.
Threats of Isolation and Retaliation
As alleged in the Verified Amended Complaint, George Soros, through his representative “agents” stated that “if Plaintiffs persisted in their attempts to uncover the bid-rigging scheme, they would be black balled from any deal of consequence in the New York market”.
A Call for Public Information
Any persons having knowledge of the events described herein may contact the undersigned or forward such information directly to the Executive Office for US Trustees.
Contact: Leslie Dick, President
Leslie Dick Worldwide, Ltd.
(917) 362-7111 E-Mail:
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Information to: Executive Office for US Trustees
Criminal Enforcement Unit
20 Massachusetts Avenue, NW
Suite 8000
Washington, DC 20530
