The Players


The Vicom Players.

 

Text Box: Max Stevens
President

 

Text Box: Al Petrangello
New Jersey Money
Text Box: Tim Waldusky
Officer
Text Box: Bob Jaster
Treasurer
Text Box: Mark Bruce
CEO

 

 

 

 

 

 

There were a lot of other people who were just part of the company.  Many got sucked in with offers of stock that was worthless.  Some of the unlucky ones even agreed to be officers and were left holding the bag for liability.  Other were employees.  Some actually business was done through the companies, so there were employees and they did have some revenues.

Books were kept that showed revenues and expenses. The books were showed to investors and auditors.  But the books lied.

A simple example is taxes.  The books showed taxes being withheld from employee paychecks.  What did not show, was that the tax money was being siphoned off by the President for things like housing, vacations, food, cars, trips to Vegas with friends and even drugs.  These expenses were not authorized by anyone.  In fact the President was not supposed to have expenses over $500 without approval according to the loan terms.  One withdraw was made to Cash for $25,000.  Strangely, even with all these benefits and withdraws, the President's Federal Tax return showed about $400 in income for the year.

Mark Bruce handled the taxes, even though in a deposition to the IRS he later claimed he did not.

Some money was siphoned off by the CEO to associates in New Jersey that no one ever met.  Stock was issued and redistributed by the CEO without other stockholders knowledge and sometimes despite there objections.  Some stock ended up with Al Petrangelo.  Mysteriously, the company continued to 'buy back' stock.  The only time the company bought back stock, was when money went to New Jersey and Al.

 

 

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