Entrepreneurs Fight OnPredatory Business Practiceto avoid at all CostsI’m freelance writer who has been at this sport now fora time. I have awards for my writings on education, science,adventure and travel..... I began writing poetry in high school just to put my feelings into words. .... In this instance manyyears later I have taken a more serious turn to help some friends and future investors that maybe traveling outside oftheir culture.I’m seeking to share facts and to present how this particular predatory business approach works. In fiction Iwill present people’s names to protect their identitiesuntil all the court documents are released…..For anyone thattravels outside of your native borders don’t assume that every country and culture of the world is run like yours and iswelcoming you with open and ethical arms…… In this case North Americansand locals looking to invest in a Tropicalsetting have uncovered a system that is in place that is at work outside of the laws illegally acquiring the wealth of thelocal smaller business community. Many ofthose who have been caught up in the game of being taken are tooembarrassed to speak out…..Once the Court Documents have been released and I get the go ahead I will publish allavailable public facts.November 5, 2012 The story of Agua Spa and its short history could never have occurred without these very people and theirparts being played out. The key components are Agua Spa, with Pete Petersen a 30 year old new CollegeGraduate full of energy, ideas and a dream,Nancy Thiel, his Mother, newly divorced, 23 years a Skin Carebusiness owner, a company she started with her ex-husband DavidPetersen one facial at a time from abedroom in their home, Trumpet Enterprise a multi-million dollar multi-business operation with a history of aparticular type of business practice that has built quite an empire, well-known to those active in the businesscommunity and Alpha Bank with all the power and trust vested to a community Banking Institution of thesetropical desert Islands.Nancy and her son Pete had hopes and dreams with little street knowledge of what power Banks andBusinesses held if they were to work together suspiciously against an unwary and trusting investor group. Youbegin to get avery uneasy feeling early on as you read the first document introduced to the process as Nancyand Pete began their search for capital. When you read the Lease Agreement between Agua Spa and TrumpetEnterprise, presented to Alpha Bank in May 2007 you see the plan begin to take shape that eventually wouldsee Nancy Thieland her son Pete trust Alpha Bank to all their wealth against a Contract signed in the middle ofan economic down turn known to Alpha Bank. Agua Spas and Alpha Bank’s shared Investment was attachedand bound to a lease agreement with Trumpet Enterprises that was so restrictive it made the Investmentradio-active, impossible to sell, considerably reducing the value of that Spa even before the loan contract wasresearched, approved and released to Agua Spa by Alpha Bank for their signature. Line Items 32.4 through32.7 of the Lease Agreement gives the right for Trumpet Enterprises to take over the Multi-Million Dollar plusSpa without paying a dime if those conditions were met.
This way over-the-top contract language is considered a predatory choke or predatory leasingin the businessworld. With that aggressive language in place as the cornerstone to this loan, fully researched and approved,with the loan agreement solely written by Alpha Bank with all the resources that their team of bankingpersonnel and attorneys had at their disposal,the plan continued to move forward.The Loan language is tiltedso heavily in the direction of the collection of collateral with Alpha Bank’s standard protection for thedisbursement of funds completely removed it makes anyone in the Business Banking World shudder that anyreputable Bank or Business would conduct themselves in such a manner. By any standard of Normal andAccepted banking practices, by the Fiduciary nature Alpha Bank had towards Agua Spa, Nancy and Pete andtheir many Investors, this particular action went beyond just negligence. There were multiple investors moneyalready in that Spa including the Public’s money Alpha Bank disbursed to Agua Spa in one lump sum. To Pete’scredit he kept immaculate books and stymied any attempts by the Bank to deem his bookkeepinginadequate.“Snow White” whom sat on that Alpha Bank board that approved that Lease and Loan in 2008,asked Pete in 2010 how he could have signed such a lease agreement. She asked him if he had even read it.Pete answered yes I did as did you and your Alpha Bank Board going as far as to pledge it in the LoanDocument.Never once did you warn us or question it and now you come back and question it? She turnedaway and was not happy as her attempt to distance herself and the Bank from that decision backfired as Petecorrectly stated the truth.The PlanThe plan, when put into play required full cooperation of all the parties. Agua Spa must take on the risk, do allthe heavy lifting of the construction of the Spa, back it with all the wealth they owned including all bankaccounts, plus a personal guarantee.(There were critical parts of the contract that were negotiated in the precontract meetings and agreed upon by all parties but were changed by Alpha Bank in favor of Alpha bank andagainst Agua Spa’s best interest when the contract was written and passed for signatures.)Never once didAlpha Bank notify Agua Spa that what was verbally agreed upon in their pre-contract negotiations was nowchanged in the written contract. When Nancyand Petewent back to discuss the changes they discovered AlphaBank had madethey were told by a Bank employee“you cannot change a contract once you sign it.”With theadded language in the presented Document but not discussed previous and the plannedboycott to be carriedout by the Hotel eventually the plan would make it impossible to secure counsel and pursue the enterprisethat was working against them in court. This was the primary goal before Alpha Bank moved to close the Spaand hand it over to the Hotel. The problem the Bank andTrumpet Enterprises had is they never counted onoutside investors to pay for the attorneys or keep the business a float so the truth could be heard. The Hotelmust do whatever they could to stop the marketing and cliental from reaching the Spa cutting off its promisedlifeline,while the bank must wait in the wings and quietly let the boycott have its desired effect of tapping allavailable cash. Many times in the immediate months prior to the illegal closing of the Spa,Alpha Bank askedNancy and Petewere there any investors who could providean infusion?It is suspected Alpha Bank wanted anycash to be spent down to eliminate the ability of Agua Spa to use that to seek an attorney and pursue the Bankand Hotel in a court case. In late November AlphaBank told Pete that this was the time to go all out. He was toreally decorate the Spa in festive Christmas atmosphere. At the same time they asked Pete to make 6 monthgrowth projections. At this time on December 7 Alpha Bank’s attorney “Bullstronk” was already moving inthe Courts to lockdown whatever collateral Alpha bank could get their hands onto. There were hints fromBanking people that they suspected Pete was moving assets away to an offshore company. Thishas beenproven illegitimate as the books Pete kept were impeccable and research into the accounting proved everypenny went into the building and running of that Spa.
When Alpha Bank removed their standard protective language in the loan, when no independent supervisorwas appointed, the Bank also took on the potentialconsequences of their actions. It’s incredulous for themto now be complaining “where did all the money go?”The Building ProcessDuring the building process there was little oversight by Alpha Bank and the 3 million dollar USD investmentthey put at risk. "Mercury Construction" was introduced by Trumpet Enterprise as theConstruction Supervisor,the only one whom could do the job within the budget and deliver it on time. “Mercury” had been theContractor already on the project for Trumpet Enterprise asthe same people that allegedly carried out theboycott of Agua Spa and pulled the lease agreement on Agua Spa even while all lease payments were up todate. They were not “Independently appointed” by Alpha Bank as was required in the loan document. As"Mercury" conducted its email business with Pete all of "Mercury’s" emails were sentdirectly to TrumpetEnterprise but not one was ccd and sent to Alpha Bank? The contract with "Mercury" and Agua Spa or AlphaBank held no penalties for cost overruns or missed completion date penalties which are standard in BankFinanced Construction projects. In fact there was no contract between “Mercury” and “Alpha Bank”.This is a glaring oversight by Alpha Bank that reeks of potential malfeasance as Nancy and Petewere brandnew to any Construction and borrowing of money for something like the building of a Spa. Theyhad no ideawhat can happen on a construction project as contractorsseek to increase their profit. The Spa was builtrunning 35% over budget and took twice the time to build. With Standard Banking protective language missingand the Bank a non-participant in the construction oversight it was gross negligence and simply off the mapbehavior for any Banking Institution or anyone who is disbursing public’s money or works within Standard andaccepted banking practices. It was a recipe for disaster for Agua Spa and Alpha Bank’s Investment. The normalexecution of the loan from the very beginning was in trouble simply because standard accepted bankingpractices were abandoned.There is a suspected likelihood that Alpha Bank did not make a mistake byreducing the safety net they had in their standard language,it’s suspected that they were not looking to seethe loan through the normal process but collect the collateral only. Remember at this time the Bank thoughtthey had full access to Nancy’s investment “Nancy’s Flowers” and “Rejuvenate your Body Health. Theirinadequate attempt to secure the collateral only became known to them as “Monopoly money Bank revealedin an email in 2009.The Bank Warns of Auction 150Days after the Opening A hint of their suspected intention was delivered on September 8, 2009 only 150 days after the doors wereopened to the Spa while all bills were being paid.Anaccount manager for Monopoly money Bank told Pete thattheres a chance Agua Spa would have to go to auction? The very next day an executive director of Alpha Bank“Mrs. Hillary” told Pete "Your Mom has lost it all."No Bank talks to their clients in this manner. This is aBanking Institution that is crying out for an OUTSIDE INVESTIGATOR to see what this type of businessapproach is really saying. Are they in the Collateral collection business where they can make a return quickerand trump their capital gains?
The Account Manager says that’s whyElrod is here watching the project"Mercury Construction" received an additional 10% for supervision on the Agua Spa project to all sub-contractors work in addition to their basic fees. Since there were no penalties for missed completion dates orprotection clauses to Agua Spa or the Bank’s Investment for cost overruns the projects costs exploded beyondthe original scope estimated by “Mercury." As the project moved forward all those with work on the site hadnumerous opportunities to trump their costs as with no penalties or independent supervision it seeminglybecame an opportunity too tempting to resist to taking whatever you could get.Early in the constructionin September 2008,Pete, Nancy and the Credit Manager “Mrs. Gretel” for Monopolymoney Bank, met for a walk-thru of the now in progress Agua Spa project. During the walk-thru Nancy askedher "is it not so that the bank is to put a Project Manager to watch what is being paid for is truly beingdelivered." Gretel”answered "Thats why Elrod from "Mercury" is here. With no Independent supervision by the Bank, the Spa then was built to the whim of the Hotel includingmultiple reminders that Agua Spa must invest at least2million. There was never any input or oversight by thelender Alpha Bank. With Pete and Nancy unwary of what was about to take place, the stage was set and theplan continued to be executed with cost overruns and missed completion dates no longer a worry but now agoal as the costs ballooned. The opening of the Spa was delayed and Agua Spa was forced to pay leasepaymentswithout earning income to Trumpet Enterprise as they failed to open on the required date."Mercury" continued to trump their original bid with all the cost overruns. During the meeting with Mercuryabout the Spa Job, Elrod agreed that the delivery date of November 23, 2008 would happen on time. That didnot happen as the Spa was delivered over 4 months late April 3, 2009, 35% over the budget tapping out theday to day operating capital needed to allow the business to function properly after the Spa opened.When Pete and Nancy went to the Bank for emergency additional capital forthe actualstart up and operations,the Bank declinedto help at a very critical timeforcing Agua Spa to immediately seek outside investors help.The cost overruns can easily be traced to the pulling of the "Standard Disbursement of Funds restrictions” forall loans from Alpha Bank. The absence of an Independent Construction Supervisor is another glaringoversight. Why did Alpha Bank take down common standard safety restrictions that would have preventedthese overruns? As of May 2012, the bank continues to try to silence the voice and cut the legs out from underAgua Spa as they go through the court to seek relief for their shared lost investment. The money Alpha Bank isseeking is and always has been in the nowoperating “Youbuilditwestealit” Spa. This lack of pursuit of thatinvestment by Alpha Bank yet they are saying we want our money back, is highly suspicious in nature.Why hasthe Bank never supported Agua Spa and the investment or pursued the Investment where it’s now operating?Why would a Hotel Business man pull the 15 year lease agreement and take on the liability of the 15 yearpotential earnings law suit? No Bank closes their $3,000,000 Dollar operating Spa then sells it for $40,000 twomonths later to the same people that they were at odds with months earlier. To come in and kill a businessyou have a partnership in without any regard to your partner and are obligated by a Fiduciary connection toprotect gives thought that the Business had been sold. For a Bank who was a partner in a Spa with a cliental
base of 5000 and growing to come in and close it down in the height of the busy season then sell that Spa twomonths later in a suspected sham auction to the same entity that they said they would go to court againstspeaks of suspected collusion and Loan fraudas two big entities work together in an alleged enterprise to stealwealth from the people they are supposedly conducting business with.Don Is Fired Roberto Moves InThe original General Manager of Trumpet Enterprise and Pete’s contact person “Don” was fired within days ofthe opening of the Spa and later replaced with Roberto, Roberts son. His business style was quite differentthan the previous. Roberto immediately rescinded all verbal agreements with Agua Spa and began a processof a very hostile business relationship that even denied written agreements made including a systematicapproach to deny marketing of the Spa and the clients from the Hotel that marketing would provide. Part ofthe monthly lease payments made by Agua Spa to Trumpet Enterprisesincluded Marketing costs. This boycottof verbal and written agreements continued and culminated in the pulling of the lease agreement a day afterthe Over-the top entry by Alpha Bank on December 22, 2010. This entry took on the look as if Alpha Bank nolonger owned that Spa or cared about its investment or that of the investors. It looked suspiciously at thispoint that the bank had consummated a deal already outside of their legal contracted relationship with AguaSpa. Two months later Alpha Bank advertised one day in the paper and sold the inventory for $40k USDsupposedly giving the 3 million US dollar Spa to Trumpet Enterprise for less than3% of its potential value? Whydid Alpha Bank never seek payment for their loan by going after where that capital went? Why did they sellthat inventory and release ownership of that INVESTMENT to the Hotelwhen back on February 16, 2010“Imagoodyesman” stated in an email “our board has decided to back you in your case against the landlord”the very same entity.There were many cases of fiduciary breaches and multiple acts of negligence in the relationship between AguaSpa, Trumpet and Alpha Bank that are documented and supported by evidence in the main body of the case.At no time did Alpha Bank NEVERprotect the Agua Spa investment. They never warned Nancy or Pete that theLease Agreement was radioactive and would make it impossible to sell that Spa if they got into trouble. Theynever told Pete or Nancy that Trumpet Enterprise had a history of predatory activity towards their tenants yetput 3/4 of a million dollars of the public’s money and 3/4 of a million private capitalsUSD at risk while theyremovedthe protective language that could have potentially stopped the cost overruns and delays. The Factthat the cost overruns and the impact they had on the business were never addressed in any contractlanguage with the Construction Supervisor, nor did the Bank provide an Independent person as it was the oneand only standard language protective mechanism they didnot remove in that loan document cries out for thecourt to ask why?All of these Fiduciary breaches and acts of negligencewhen combined together constitute alevel of behavior that goes beyond grossnegligence as Agua Spa’s business was killed along with anyopportunity to return the capital they borrowed including that of outside investors both from “Desert Island”and the United States.On the Day of the entry by Alpha Bank at the time and style they produced their entry, the way they treatedthe clients and staff, the damage that it inflicted to the Investment, the cloud it created over that Spa in thecommunity and the fact they were later found talking and laughing with Roberto as employees were usheredout being told that the Spa would be closed, losing their job and income just days before Christmas is simplyunacceptable from any Banking Institution. This single act along damaged Agua Spa and the Alpha Bankinvestment beyond repair.
3 Million Dollar plus Spa for $40K It’s evident that from the results of the closing of the Spa and subsequent selling of that 3 million Dollar Spafor 40K USD to the Hotel in a one day notice sale a Bailiff dubbed as highly unusual indicatespossiblecollusion?It was a public auction and according to a statement from another beauty specialist whowanted to make a bid, everyone who had come felt they were taken for a ride because apparently there wasalready an agreement that Hotel would buy the business. Why would a Bank not seek the maximum potentialworth for their investment? How can a Bank sell a multimillion Dollar Spa for less than 3% of its value? Howcan they complain about promised collateral that they used in securing two different loans only to see theirforced sale of that first project also diminish the value of the second loans collateral? This act of grossnegligence borders on highly suspicious behavior always against Agua Spa and in the favor of the Hotel orBank. In the US their actions would easily border criminal in nature and require a deeper independentinvestigation beyond the sphere of those influenced by the players present. The interviews that have beenconducted in the local community seem to indicate that this business approach is a standardthat it has goneon for several years. In the US this type of operation would fall under the RICO act and would step it up to afederal crime freezing all their assets to research past activity and who may have been affected by such anoperation.Imagoodyesman Says We SupportYou in Your Case During the life of Aqua Spa the boycott was evident to even the Bank yet Alpha Bank never supported theirefforts only paying lip service on February 16, 2010 in an email from “Imagoodyesman” where he stated that"Our board has decided to back you up your in your case against your landlord, but we cannot attend themeeting" making reference to the meeting with Robert relating to promises and contract language not beingkept that were choking the life out of Agua Spa.Just 3 weeks later “Imagoodyesman”, Alpha Bank Corporate Special Assets Manager produced the "LoanTakeover Agreement". He pressured Nancy on multiple occasions through multiple means to sign it. AlphaBank even went as far as to ask for a meeting at Nancy’s advisor and feasibility study supplier “BenedictArnold” at the offices of “Itakeyourmoneybuteyework4thebank accounting” presenting the agreement as thesame contract as the original Monopoly money Bank contract and that no amendments could be made. Thecontract containedmultiple language changes in favor of Alpha bank and detrimental to Agua Spa. There wasalso a revisit of the same share language that Nancy had earlier said was not correct and that email onOctober 2, 2009 where Monopoly money Bank signaled that they also understood. On May 5 2009 severalmonths earlier Nancy stated that there was never a time where she owned more than 1 share of the“WebuildittheBankstealsit” Condo project. Even with that knowledge again “Imagoodyesman” on March 52010 told Nancy she must sign this "Takeover Agreement" in order to safely move the loan and the securitiesback to Alpha bank. Again her advisor “Benedict Arnold” said to Nancy I think you should sign this so that Petecan continue with the business. After consulting an attorney, Nancy found out that indeed she was beingasked to sign a document that did not need her signature for the loan to be moved but in fact was being askedto sign a fraudulent document that would have entrapped her and filled in all the gaps that exisisted inoriginal poorly researched and written Alpha Loan document allowing Alpha Bank to seize everything thatNancy and Pete owned or would own in the future making them slaves for life.
What Kind of Banking Is ThisAs you look at the body of evidence, as you read the transcript of the case and witnesses accounts and beginto try and reconstruct the process, it becomes painfully clear that standard and accepted business practiceswere not followed causing that loan to take on an unacceptable level of risk. There was a relationship fromAlpha-Monopoly money Bank to Agua Spa that was fiduciary in nature. Alpha Bank installed Marcia Sleazy tohelp the Spa’s relationship with the Hotel but yet she could not talk with the Hotel people?Marcia did askNancy and Pete in June of 2010 at a meeting in his office on Desert Island if they could change their productline to Pizonu from what they were using? Pizonu is the same product line that “Youbuilditwestealit” Spa hasand is using in that Spa in Curacao. It looks as if Marcia, Marcia, Marcia was nothing more than the Banksinside person as the Hotel and Alpha Bank were suspectedat that point to be in discussions about the pricethat would be paid by the Hotel to the Bank since they now realized the forced auction of the collateralremoved their target in the original game plan. There was aFiduciary relationship from Trumpet Enterprise toAqua Spa that the Hotel breached on many occasions along with the illegal early pulling of the leaseagreement. From day one to this day not once has Alpha-Monopoly money Bank ever protected theInvestment they shared with Agua Spa. In that atmosphere the boycott was carried out with Alpha Bank beingno threat to the Hotel yet holding Agua Spa in place while waiting for the Boycott to kill the business so theycould gather up the collateral they so poorly secured. Contractors win, The Hotel the Banks intended partnerall along in this game gets the finished 3 Million DollarSpa complete to their specifications for $40K, AlphaBank collects on all the collateral they thought they had while Agua Spa dies voiceless losing everything. Thereis an additional recording and signed and notarized documents by the bailiff hiredby Alpha Bank declaring thaton December 7th 2010 he was instructed to begin the process of calling in that loan. At the same time AlphaBank employees were telling Pete to produce 6 month projections for the business. They even went as far asto tell him that it was important for him to decorate this Spa in a festive Holiday spirit, to really go all out anddo it up right. What effect could an operationlike this have on commerce and banking in the community if allowed tocontinue? The fact that this looks suspiciously to be cooperation between The Hotel and Alpha-Monopolymoney Bank cries out for a more thoroughoutside investigation. This kind of business approach wouldpossibly have to have Central Banks approval as interviews within the business community reveals a patternestablished with a trail of victims not as lucky as Agua Spa as their stories never were presented in court.There are players in this game that sit on boards of Banks. The Banking system here in the “Con Game Islands”was alreadysuspected prior to this story. The evidence here is just an indication of a potentially biggerproblem that maybe present and a system that is at work controlling commerce, illegally acquiring peoplescapital and wealth with approval of people possibly beyond the players present.