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Reed Slatkin

Discussion in 'Miscellaneous Reports from Newspapers, Blogs, and ' started by nozeno, Feb 15, 2008.

  1. nozeno

    nozeno Gold Meritorious Patron

    If anyone is interested and hasn't heard of him, I must confess I hadn't, he will be on CNBC

    The Next Episode of "American Greed" Airs Wednesday, February 20th at 9PM & 12AM ET

    CNBC Logo
    The next episode of CNBC's unprecedented series "American Greed," which focuses on how greed change's people's lives airs Wednesday, February 20th at 9PM & 12AM ET.

    This episode features Reed Slatkin, a Scientology minister who leaves the church for a more lucrative career in the stock market. Operating as a day-trader, Slatkin claims to have devised a system to achieve about market returns and he consistently reports annual gains of 25%. In the early 90''s Slatkin invests in Earthlink and by 1999 his client list includes Santa Barbara socialites, Hollywood filmmakers and wealthy corporate leaders---but the SEC is bearing down on his operation and a defrauded investor brings Slatkin's scam to a screeching halt. CNBC exposes one of the largest financial frauds in American history. With his Ponzi scheme, Slatkin ultimately scams investors out of more than 500 million dollars.
  2. Colleen K. Peltomaa

    Colleen K. Peltomaa Silver Meritorious Patron

    Was he going to buy his Bridge with that?
  3. Wisened One

    Wisened One Crusader

    Wow, :ohmy: that outgha be an interesting show!

    Wisened One

    OHTEEATE Silver Meritorious Patron

    Criminal Mind

    Slatkin, near the end, was getting some feedback that he was ot on lines, etc. and so he shows up at the AO, and starts hanging out in the NOTs lounge, and is getting sessions, only he is the only one who knows that he is getting an ASSIST series, with no ruds flown, so his withholds will remain unviewed. His clients hear he is getting audited, and go back to sleep. What a crim, eh?
  5. Div6

    Div6 Crusader

    Puke puke puke

    Gross Out Tech

    Gross gross gross

    Gotta admit the positionong of this show is good.

    Slatkin - Ponzi Scheme - Scientology

    Yeah, that sums it up....
  6. Giuseppe

    Giuseppe Patron with Honors

    Giuseppe has dealt with Slatkin. After Giuseppe was out of the SO, Giuseppe has work in the collections department of a scn owned company. The database showed he owed $ so Giuseppe called him. He yelled at Giuseppe:screwy: . Giuseppe now has two assholes, one natural, one ripped out by Reed Slatkin. Giuseppe was afraid.
  7. Div6

    Div6 Crusader

    But Wait - there's more!

    Somebody brought up Reed Slatkin on here the other day.

    Well, as always, there is much more to this story than has been told.

    In 2000, Reed Slatkin was on RTC “Situations List.” This list is basically Dave Miscavige’s hit list of individuals that are up to no good and need to be dealt with. You don’t have to be a scientologist to make the list. You could be the commissioner of the IRS or Mark Bunker. If you are a threat in any way to the church or them making money, you are on this list somewhere.

    So, it seems that RTC knew what Reed Slatkin was up to long before the authorities found out. With sessions KR’s being culled, or reports coming in, they knew that something was up. Also, being the money grubbing fiends that they are, as soon as you throw in millions of dollars worth of threatened donations to scientology, you tend to show up on the RTC radar rather quickly.

    Later in the year 2000, all Sea Org members that had money invested with Reed Slatkin were ordered to pull it out, no matter what the circumstances. Somehow, RTC knew all of the Sea Org members that money invested and they were being contacted individually and being told to get their money back and NOW. Several Sea Org members had money invested with him and most of them ended up pulled their money out. This was well before SEC hearings or anything was going on.

    Giving the SO members their money back was the least Reed could do, in a way, they had made him a bunch more money and they were not the heavy investors that he would have trouble cashing out. In fact, in the passing months where he was cashing these S.O. members out, he was taking in far more cash from other scientologists. No one was going to blow the lid off the whole thing before these guys got their money out, so Reed had some more time.

    So the question is, why did RTC do this and how is it that they knew about this so well ahead of time and why did they have the SO members pull out and not everybody else as well. Rumor has it that they knew there would be a feeding frenzy, and if everybody came at once, then the whole house of cards would fall and the chances of people getting their money back would be slim. They were right about that.

    It is funny to note that there was one SO member that REFUSED to take her money out. You see RTC did not say why These Sea Org members needed to get the money out. They alluded to it being “off-purpose” and that it was “out-exchange”, but no one just said what the reason why they had to take it out. Jenny Devoct had money that was invested with Reed Slatkin in her parent’s names. Jenny’s mom is a OT 8 Patron and her dad is a big Hollywood movie producer. They had invested the money with Reed and this was set-up for Jenny. This money was basically going to make Jenny a millionaire Sea Org member and she had no intention of pulling it out. She knew of the RTC action to have all Sea Org members pull their money out, but as there was no other reason than it being out-ethics, she left it there. She knew that Dave Miscavige, Norman Starkey, Marc Yager and others in RTC had several investments (not with Slatkin) and were independently wealthy, so why couldn’t she join the club? So, she left the money there.

    There were a few other S.O. members that got burned, but it might have just been due to them keeping their investments secret or whoever was getting data out of Slatkin or his accountants missed them. In Jeff Mintz’s case, he just had a lot more money invested than most other Sea Org Members, so he did not get out in time. That money by the way, came from all of the wealthy scientologists going off to Flag to do their L’s and FPRD and other expensive levels that Jeff Mintz was collecting very healthy commissions on. This is a guy who is making 100K a year in the SO while the girl that is his assistant is making $45/week. Either way, along with a few scattered others in the Sea Org, he lost it all.

    Most of the people that were in the SO and lost their money were just given a “Told ya’ so ticket” from Dave Miscavige. Being off purpose never pays off, unless you are Dave Miscavige.

    Dave Miscavige would not escape this mess unscathed though. Reed Slatkin was a member if WISE whilst a lot of this scamming took place. Because of this, when there were disputes or problems between any Scientology investors and Reed Slatkin, Scientologists had to table their grievances with WISE. They could not go to authorities or else they would have to face ethics action from the church.

    So, the church in fact, kept this scam alive few at least a few years longer due to their absolute inept understanding of what was occurring. Here you have a guy who is bilking hundreds of people out of millions of dollars and when there is a complaint, he is made to write up his Overts and Withholds!

    So now, pretty much the who’s who of top scientology members had been scammed by Slatkin. Even several people that knew Dave Miscavige very well. Besides the hundreds of Patrons that are routinely bilked for money by the church, you have Helena Kobrin, Bernie Kirsch, Bennetta Slaughter, etc. Dave was doing damage control on this for years. This might have even been the straw that broke the camel’s back in terms of IAS donations starting to falter. The church could not just go about business as usual. One of their own had ripped the others off and there was nothing the church had or could do about it now except try and patch things up. You even had Scientology parishioners that were professionals in the film industry working at Gold that had to stop and go sort out their finances due to this. One guy who was working at Gold full time had to leave in the middle of a few projects because he had to sell his house, and get his life back together.

    Dave was facing these angry Scientologists at every turn. Events in Florida, LA, the Freewinds, in orgs, no matter where he went there were people that had been financially raped by Slatkin. Even in meetings with the RTC attorney, Dave Miscavige would have to hear about Slatkin and how he had screwed her out over 100K. Little did they know that Dave Miscavige managed to get most Sea Org member’s money out BEFORE the fan was hit with the proverbial shit.

    Also, as an interesting note, you will see that several Guardians Office names show up on the Reed Slatkin Investor list as well. For a group of people that were ex-communicated and banished from Scientology, these people do tend to show up a lot wherever Scientologists and money are both present.

    And since we are on the subject and I cannot remember if I ever posted it. Neither Dave Miscavige or Marc Yager had any money invested with Reed Slatkin. But, in the 1990’s when the Time magazine article came out and the church was doing the ad campaigns against Time and Eli Lilly, A few investments were made. The church was doing weekly ads in USA today for months against Eli Lilly, and each week, their stock prices would go down. Sometimes it would recover slightly, but all in all it was going steadily down for months. Directly after the last ad from the church was placed in USA today and the campaign was going to come to a close, Marc Yager bought a HUGE amount of stock in Eli Lilly! You can bet he made a small fortune on that deal. From what I recall, L Ron Hubbard never mentioned insider trading in any of his lectures or books. I guess it is not considered an overt then?

    Now if you can’t believe that, what until you hear about Dave Miscavige’s investments.

    Until next time…
    “You can’t change the world, but you can change the facts.
    And, when you change the facts, you change points of view.
    When you change points of view, you may change the vote.
    And when you change the vote, you may change the world.”
  8. Free to shine

    Free to shine Shiny & Free

    Wow. Just wow.
  9. AnonyMary

    AnonyMary Formerly Fooled - Finally Free

    I came across a repeat of the show just now while channel surfing. It’s on now, Escape tv, and, most likely still on Hulu. It’s considered one of the top 20 financial scams spotlighted on the American Greed show. Lurkers who have not seen it may want to see it.

    I also see that Karen has the show in 3 parts over @ survivingscientology youtube channel

    As well, years ago, Arnie Lerma solicited funds so that I could research & purchase many of the court related bankruptcy documents. These include documentstion of Scientology & front group entities being court ordered to return donations for services many Slatkin early, top of the pyramid beneficiaries received of the stolen funds in the ponzi scheme.

    I’m not sure why that page is not now accessible on the lermanet website, but they are available on the internet archive here
  10. Warrior

    Warrior Patron with Honors

    Dulloldfart likes this.