Complaint Review: Convicted Fraudster Monte Friesner
Convicted Fraudster Monte Friesner Dr. Monte Friesner, pronto cash, One World Financial Solutions, Swiss Hannover, Blue Dolphin Yachting Club, Panama Sailing School credit card fraud, advance fee fraud, convicted, panama, miami, extortion Toronto, Internet
Meanwhile, Friesner already in 1986 admitted to the Montreal Gazette that he had a criminal past which includes convictions for fraud, assault, arson and possession of stolen property. [continued below]....
HY-TEK MAY NOT BE ABLE TO COLLECT AWARD IN $11 MILLION DEFAULT CASEAn $11 million default judgment has been handed down by U.S. District Judge Ralph Thompson, but it may never be collected because two of the losing parties are in federal prison and another lives in Toronto, Canada. The judgment was rendered in favor of Hy-Tek Oil Products Inc., based in Oklahoma City and was related to a loan promised to Hy-Tek to purchase Sasnett Enterprises Inc., an Oklahoma City motor oil repackaging company, according to the suit.Sasnett Enterprises was involved in Chapter 11 reorganization proceedings that were later converted to Chapter 7 with the firms sale to a third party, according to court documents. Hy-Tek sued a Jordanian, Fayez Karim, and a Canadian, *Monte* Morris *Friesner*, because the two commited themselves to loan Hy-Tek between $3 million and $6 million to buy Sasnett Enterprises.The suit named another man, an American named Milton Fletcher. Fletcher and Karim were arrested in Chicago in 1987 and in May were convicted on 10 counts of criminal racketeering, mail fraud and wire fraud, according to court records.The judgment, entered in Oklahoma City federal court, was the result of a civil racketeering case brought against them and their corporation, International Lending Sources Corp., by Hy-Tek. They never performed on their commitment, said Walter Jenny, Hy-Teks attorney. They never really gave a reason. Thats one of the reasons the lawsuit was filed.Jenny said Karim, prior to 1986, was a fairly reputable businessman claiming to be involved in hundred-million dollar deals including a $500 million deal in Manhattan, although the Federal Bureau of Investigation later told Jenny that Karim lived in a garage apartment while making the deals.Karim went into business for himself, Jenny said, and proceeded to deal with my client. Since Karim and Fletcher are in federal prison for four years, *Friesner*, the Canadian national, is the only person involved with assets that Jenny may be able to obtain in partial payment of the judgment.Jenny said he has retained a Canadian solicitor to conduct an asset search on Friesner, who lives on the shore of Lake Erie in a luxury condiminium complex called Palace Pier. Freisner came in with one $20,000-wire dated three days after my client wired $20,000 to Karim, Jenny said, according to information from the Federal Bureau of Investigation. Thats the trigger as far as we were concerned, Jenny said, because on the transfer was the word Hy-Tek, his clients corporate name.Jenny said part of the lavish lifestyle maintained by *Friesner* includes traveling by Lear jet wherever he goes, including on a trip to Oklahoma City. When Karim and Freisner came to Oklahoma City they came in a Lear jet, Jenny said. Apparently Karim and *Friesner* have an ability to get around when they want to in pretty good style.Jenny said he has spoken with *Friesner*, the last time was in July, and *Friesner* said he would retain counsel and participate in the litigation. But no entry of appearance was recorded in court files and the default judgment was entered because the defendants did not participate in the Oklahoma City case. I havent heard from him since, Jenny said. Jenny said he was told at one time that Karim had millions in two trust funds located in a numbered Swiss bank account, but apparently that was not true. I really dont have any reason to believe that he has any assets.Jenny said it was his understanding that the $11 million American judgment will have to be converted to a Canadian judgment for Hy-Tek to collect. If the asset search turns up empty, then the judgment is (only) worth the paper its printed on, Jenny said.Not long after this, in June 1990, Friesner was declared bankrupt for the second time in Canada with liabilities of $11,461,722.00 and assets worth.. $200.Bankruptcy, click for full sizeThe trail of his criminal activities then shows us that on the 25th of June in 1998, he was released from prison in the US, having finished a sentence related to the aforementioned case which also explains where he got the money to fly around in Lear Jets: He stole it!Leaves one wondering about those yachts, doesnt it?
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