Here it is: the Wahab etc. A&O indictment. Enjoy.
I’m shocked to see that Blue Dymond and Physician’s Trust were fake companies set up by Russell Mackert to try to fool regulators. There was no RJ Stephenson. It was really Wahab—and Mackert knew it.
Way back in May 2009 I wrote this:
In this memorable quote from the movie Wall Street the character played by Michael Douglas tells Bud to call a number and tell the man that Blue Horseshoe Loves Anacott Steel. A&O Life’s filing in federal court listing its member partners reminded me of this quote. The only new name identified in the affidavit was Blue Dymond Capital Group, LLC, a citizen of the West Indies. The person signing the affidavit was A&O front man Russell Mackert.
Mr. Mackert claims to have personal knowledge of the facts in the affidavit, but does not explain who he is, how he obtained that knowledge or his relationship with A&O. The affidavit does not mention Adley Wahab, who is presumably the man behind the curtain. Mackert and A&O seem shady–real shady.
Shady. And now indicted.
Here is a link to the Justice Department’s press release on the indictment. The defendants include an A&O sales agent and a wholesaler.
The indictment seeks $103 million from the defendants. I believe that money recovered by the government in the case may be used to compensate victims. The victims should discuss this issue with their attorney.