Dear First Capital S&L Clients,

It is time that I break my silence. There are many, many things that need to be discussed, so this letter will be long. It will be long, but it will certainly be from my heart. Not one single thing that I am about to say in this letter, to the very best of my knowledge, will be an untrue statement or a lie.

Some of you may find it annoying that I have written such a long Update. However, to summarize 4½ years of activity is not possible in a little 3 or 4-page brief. I have a lot to say, and now is the time.

I know that many things will get cleared up for you in what I have to say here. Please bear with me on the many tangents that I will go on. For the numerous things that have happened over the past 4½ years, and especially the last 6 months or so, it will be all I can do to keep this as short as possible, yet as factually correct and to the point as well.

To set the table correctly from the very beginning of this letter, I will have you know that I am at least 7 things:

1, That I am neither a thief nor a fraud.

2, That I am an active and growing Christian.

3, That I intend to fix FCSL and then repay each and every client every cent

that I owe them, no matter how long that takes.

4, That there is great hope of all the money being re-earned and paid to each
and every client of FCSL, along with ex-employees and vendors as well.

5, That in the middle of this horribly difficult time for me (and my family),
when the storm has passed, Lord willing, and I believe He does, we will
still be standing and I will press on with the USA Tomorrow newspaper
project as originally planned.

6, That I am one of the most truly patriotic individuals that you will ever meet.

I am willing to promote the necessary articles in the USA Tomorrow

publication in order to help my nation have a chance at survival, no matter

what that stand will cost me.

7, That I am a very good father and husband.

The circumstances that I find myself in look very bad. At least on the surface they do. And with someone looking on from the outside, yet looking at all of this with the limited view as you have, you would think it is almost irreparable at this point.

For what has been happening, and for what is still happening to FCSL, me & my family, and most importantly to you my clients, you could think it to be beyond repair.

But that is not how I see it at all, so I need your patience in hearing my side of the story.

It is painful enough for me to be apart from my family for nearly 5 weeks now. However, on top of that, we have now lost our 2 Panamanian condos, along with the closing of the Panamanian offices for FCSL and USA Tomorrow. This occurred due to the necessity of settling local Panamanian client/investor debts, which is due to the Draconian laws that Panama has in regards to owing a financial debt. This is also due to the Draconian laws that Panama has in regards to the firing of employees that I had working there.

Did you know that if you fire someone in Panama, you still have to pay them something close to 6 weeks of pay!! Welcome to socialism! Our beloved country will become the same way if we don’t stop the socialists from expanding their agenda.

So for those who are dealing with hard times, I can assure you that I feel for you and I do have compassion for your situation, because I am, for the moment, in the same boat that you are in.

As you read through this letter, you will see that I make occasional references to the Bible and to the God of the Bible. The God of the Bible is as much a part of my life as is water, air, food and sleep is to my body.

Yet with that statement, I can just hear some of you proclaiming me to be a “hypocrite” and pointing the finger at me as a bad example of a Christian.

However, those that are quick to point the finger need to examine their own lives first. You can’t possibly judge another man for his sin/fault, or what you think he has done with intent as a sin/fault, when you yourself are participating and doing the same sin/fault, and even to a far greater degree of sinfulness and wickedness than what you are judging me for. Who would then be the greater hypocrite, brother?

God Himself does not propose to judge (condemn) men until they are dead, so who are you to be so arrogant as to do it before a man’s death? The Lord at least waits until a person’s life has been lived out completely before making a final judgment in favor of or against him/her. Let that settle in a bit, before you jump to conclusions about the character of someone the next time you point the finger, before you know all of the facts.

Do you not remember the story about the Pharisees bringing the woman out, who, being caught in the very act of adultery, was, by the Law of Moses, condemned to stoning? Jesus showed compassion on her. The Pharisees, hypocrites that they were, pointed the finger at her and then tempted Jesus, hoping he would give in to their foolishness.

Jesus told them that “He who is without sin, cast the first stone”. Jesus wrote in the sand, as one by one, those hypocritical accusers walked away. Jesus asked her, “Where are your accusers?” She could not answer. He said, “Neither do I condemn you. Go, and sin no more”. Take a lesson, friends.

I am no lawyer, but it doesn’t take much common sense to know that there is a world of difference in the matter of something regarding the intent of an act. I am very aware of what I have intended to do over these 4½ years , only for the result to turn out to be very different than what I wanted it to be.

If a person were to be driving their vehicle and were to hit a child on a bike, in which the child rode his bike out in front of the driver, with the driver not having time to respond, and kills the child, we know that the driver was not at fault. His intent was not to murder. It was an accident. However, the consequences of the dead boy are still there, aren’t they? Yet, it was truly an accident of which the driver could not move out of the way in time. His intent was clearly not to murder.

However, if that driver was a hired assassin who was watching, planning, lurking, and waiting for the right opportunity to strike, than that changes everything. The intent to murder was prevalent and the driver would obviously be charged with murder.

Again, I am no lawyer, but they say “Intent is 90% of the law” (David Barton’s book – “Original Intent”). The Founding Fathers of our once-great-nation fully understood the Original Intent concept well enough to create the institution of a 12-member jury of our peers.

In my case, if you were to bring 12 people forward that know me well, and after reviewing the records of FCSL, they (and you) would not find me to be guilty of fraud. But honestly, you would find me to be guilty of mismanaging the funds that were on deposit at FCSL. That is what I would be “guilty” of. But not of defrauding my clients.

To the best of my knowledge, the mismanagement of funds is not necessarily a crime either. And given time, anything can be fixed…with the exception of the likes and magnitude of a Madoff-type crime. He intended from the beginning, to con people and truly created the biggest ponzi scheme of all time (Federal Reserve System, being the only exception). He deserves what he’s got coming to him.

Those poor people will never see a dime, ever, of that con-job. I heard that one family had even invested some $145,000,000 of their money and it was their total investment portfolio. It was all the money that they had to their name. What? Why on God’s green earth would a person/family invest all of their money into the same investment? At times, things happen in life that cannot be controlled. A Madoff-type of Ponzi scheme is not the intended thing that happened with FCSL. That is not what has happened here.

Now pertaining to the most desperate clients. I have studied the group of clients that are the worst way affected by FCSL’s problems, of which there are about 17 or 18 of you. I have found that each and every one of them invested everything they had into FCSL. Again, why on earth would you do that?

My salespeople and I did not twist your arm, and neither did we use cunning words or pressure tactics against you, not once. I know this for a fact, because I trained my salespeople at least well enough to make sure they were not brow-beating people into becoming clients. To the contrary, each of you decided on your own to invest at your own comfort level.

I will give credit to Jay Olmos, Mack Anderson, Tucker Maile, and Ben Greenwood for not doing pressuring people to invest. While they worked for me, they did an honest job at treating all of the clients of FCSL with respect. I do know for a fact that not one of them pressured anyone to invest, ever. That is something that they respected with each of you, and you know this to be true.

However, I do feel for those of you clients that have been hit the hardest by the FCSL problems. It is my personal responsibility to get you paid back as fast as I possibly can. I am not skirting my responsibilities at all. Not for a minute.

But, I can see that only the clients who invested everything they had are the clients who are incessantly emailing me, calling me, and posting the most information on the blog. You need to face the fact that you made a bad decision by investing everything you had into one place. That was not my fault. You did the wrong thing with your investing portfolio. That was your mistake, so you need to face the consequences of your actions head-on, just as I have to face mine as well.

Now, again, that does not lesson my responsibility to get your money back to you. No, not one bit. However, let’s suppose that you had only invested 10% to 15% of your investing portfolio into FCSL, as would have been a normal and logical thing to do? Would you be so desperate right now? Not at all. Would you be deeply concerned about your money? Sure you would. And would you still want your principal and profit returned to you? Absolutely yes, as do all the other clients of FCSL.

In the middle of all of the financial collapses happening all throughout the US, and now the world, this would have been a perfect time for me to say that FCSL is broke, like all the rest, and that we cannot pay our clients at all, ever. Time for a BK-13 or a BK-7 and your money is good-bye. The perfect storm has been set for that and I could have said that back in June/July. In fact, in the offshore world, it is even easier to BK and for me to have escaped with your money, never to be seen again. But, it has never been my intent to defraud a single person.

So let’s take proper responsibility for our own actions. YOU invested all you had into one place. Now, you have to carry that burden, hopefully to never do it again.

As it is, I am bearing enough of a burden to get ALL of you paid back as soon as possible, so my weight is about 430 times more than any one single person out there. That number of 430 includes all of the Premiere clients, a handful of Panamanian employees and a handful of vendors as well.

My point is that my intent for Mentor Investing, and then FCSL, was to earn enough money to get my lifelong dream of the newspaper started. That was and still is a simple and admirable goal. Then, how a man goes about achieving that goal, is another subject all together.

Changing gears a bit, I want to re-emphasize here that you need to be cautious about how you judge me. You are only aware of bits and pieces of what has happened with me and FCSL and nothing more. The Lord did not set you up as the judge who condemns me. And that comment is only meant for a handful of you, so if the shoe doesn’t fit, don’t wear it.

Only the Lord is the final judge of my soul. Yes, sure, I owe each of you money. That is a given. However, because a man makes serious mistakes in his business, of which it costs him his credibility and possibly the fulfillment of his lifelong dream, that still does not make you my moral judge. Nor does it make me to be yours.

In fact, if you know your Bible at all, Jesus Himself said plainly that He did not come to condemn the world, but that he came to bring salvation (at a later time, yet still future, he will be coming as the condemning judge). So we are therefore not to be the condemning judges of others, especially since we don’t always know everything that there is to know about a given situation.

So it is clear that the Bible says for us to not “judge” another person until they know ALL the facts. And in fact, that word “judge” means 2 different things in the Greek language. One, it means “to condemn”. Secondly, it means “to discern a matter”. So for us to make a “condemnation” of someone, especially if we do not know all of the facts of a matter, is not for any of us to do, at any time, no matter what the occasion.

Now I can just hear some of you groaning, just wanting to push me to get to the point. I don’t care about your impatience. This is my ONLY chance to properly explain to you what has happened to FCSL. I will therefore take my time and go through all the details, just as they happened, so that no one misunderstands a single thing.

Continuing, we are obviously to make “discernments” about people, places, things, life, etc. And to this point, you have only been able to make a discernment of me and FCSL, based solely upon the few prior Update emails that I have sent out over the last few months and a few messages that you have received from Ed Snook as well.

I wish to bring all things to the light, so that you can then better determine who and what I am. And you just might determine “who” and “what” are some other people herein included in this drama, as we go along. You might be a bit surprised, but I will let you decide that.

I will tell you the good, the bad, the fair, the unfair, the wise and the foolish things that have happened over these past 4 ½ years. You need to know it all, in order to make a better discernment about me, and to know exactly why you don’t have your money, and to know that I have the ability to turn this all around yet again. Actually, it is going to be the Lord’s ability, because His way is certainly better than mine.

I told you I would go on tangents, so please bear with me. I still have a great goal to achieve, and at the same time I have millions of dollars to repay to all of the clients, and yet simultaneously, I want to be as transparent as is possible. It will take a lot to get all of that accomplished, but I lean upon that wonderful promise in Scripture where Paul, in a prayer, says of the God of the Bible: “Now to Him who is able to do exceedingly, abundantly above all that we ask or think….”

That verse is such an inspiration to me. I know that the Lord hears my prayers. I know that He has seen that we want to use the newspaper not only for great “other-side-of-the-news” stories, but also as a tool to reach people with Bible articles, Bible lessons and Bible-related news.

Since the “public” schools have done such a good job of destroying this once-great-nation’s Christian heritage, this generation is in desperate need of good, solid Bible teaching, Bible-related articles and news, and true Constitutional history.

I carry these many weights with me daily, as it is my calling in life to accomplish this task of the newspaper. I won’t quit on that task. Although the task at hand is very expensive, and is very painful for the moment, I count that the God of the Bible can pull me through each and every difficult time, now and into the future.

At this point I need to tell you that I have tried my best to earn a profit in First Capital S&L. However, that has not happened. We have been hoping that the Forex business would turn out to be a profitable vehicle for the financing of the newspaper project.

I never, in my wildest dreams, would ever think that the Forex business could be nearly impossible to make money at. Nor did I think that it was one big scam, of which now after nearly 4½ years of being in it as a business (and 6 years of studying it and being intimately familiar with it), I know that it is just that. It is, indeed, the world’s largest gambling casino.

What I am saying, to be more clear, is that I could not have known in advance, and neither could my chart readers have known in advance, that the Forex business was a con-job by the major banks of the world to lure innocent people into the “business” of “currency trading”.

Since the deregulation of the currency market in 1997, that has been what has happened. I say the above statement in a brief way, but I will back that statement up with solid facts a little later on.

Suffice it to say that the worldwide averages of new depositor funds into forex brokerage accounts across the globe, regardless of the original principal amount deposited for trading by the trader, that 98% of new depositors will have completely lost all their money, on average, within first 87 days of their “trading”.

Think on that a bit, before you continue. I will hope that you will remember that and that it will help you relate to our situation a little better. Statistically, we are already fodder for the war.

By now, you are probably scratching your head and asking yourself how it is that we are not profitable, when in fact, you have been receiving the trade emails, many of you, for more than 3 years and you have seen that we are profitable in those trades! And, you are probably wondering about Ed Snook’s comments as well. Let me address Ed Snook’s comments first, and then I will follow with the trade emails that have been coming to your email accounts for such a long time.

First, Ed Snook. Ed, it is sad that we have ended up this way. I never thought that you would turn against me, but that is what you have done. Of all people, you were able to read me well enough those 2 times that we met in Oregon, and the countless times that we talked on the phone, in order for you to know that I am not a crook, nor a fraud.

Ed, I don’t have the intent here to challenge you along legal grounds. I personally have no such ability to defeat you in a court of law, so let’s just settle that now. Of course, I don’t want people to think that you are an attorney, because you are not. You are an investigative journalist. That is an altogether different occupation. So, let’s establish that fact for all to see clearly.

But still, you’d run circles around me and probably get me put away for 20 years. But how would that help in getting my clients repaid? And what about getting you repaid? It wouldn’t help at all.

However, I do know that you do have a conscience. As “god-like” as you may seem to many people, and even to me, and probably even to yourself, you are still a human being, just like the rest of us. You have made several unfounded comments about me, that, once the records of FCSL are shown to auditors, you will be found to be a liar and an opportunist. Let me state that again. A LIAR and an OPPORTUNIST.

You saw a good possibility to make money at the expense of my clients. You have covered yourself all along the way with your little contracts, only for you to know in your own conscience that back in September, 2008, when I came to visit you, that I plainly told you that there was no more money in FCSL. I also said that there was no way for me to pay the clients back at all (at that time), and that the principal was NOT in tact. That the principal did not exist, and that I needed time to get things back in order, if there was ever a chance to get clients repaid again!

I plainly told you that, sitting there at the Denny’s Restaurant in Grants Pass, Oregon, so why would you fabricate a story against me, about me having some $42 million in hidden banks accounts out there in the “offshore world”?

Clients, friends, ex-employees, vendors, let me set the record straight: the supposed principal does not exist and it will be shown through an internal FCSL audit that it does not exist.

However, this is not the end of the line for me or FCSL! And I certainly won’t let an opportunist like Ed Snook come along and sink my boat. Do what you want Ed, say what you want, fabricate what you want. You know as well as I do, that I came to Grants Pass, Oregon this last September, 2008, after the Ron Paul Rally in Minnesota, specifically for that purpose, to tell you that I was deeply concerned with my plight and that there was no more money in FCSL to pay clients (at that time).

Again, that’s not the end of the story. I don’t want all of my clients to think that there is no hope, because there is great hope and real solutions to fix the problems with FCSL. When I said back in September, 2008, that I needed that time from then, all the way until January 5^th, 2009 in order to fix FCSL, that is exactly what I meant. I was not given that time, thanks to the interruptions that the “blog” caused.

To be even more direct, if I had not been hindered by the “blog” for these last 5 months now, it would have been a very different financial picture indeed. It would not have been completely fixed, no. But it would have been much, much better. At least those who desperately needed their money the most would have long been taken care of by now. But it will take a bit to explain this to you, in order for you to see that there truly is hope.

Back to Ed Snook. Ed, you are extremely good at what you do. I have promoted you to so many people that I’ve lost count. In fact, “Eliza”, who is Dani Rascon from Los Angeles, California, you should be ashamed of yourself to attack me as you have. Did you forget so quickly that I am the one who convinced you to work with Ed Snook in regards to Ed helping you get your car out of the control of the police? Was it not illegally impounded? The last I recall, you have your car back, yes? Why? Didn’t Ed help you get your vehicle released and some charges dropped against you? I don’t recall all the details, but Ed did indeed help you and I recall you being very thankful for that. Amazing how quickly we forget things, yes, Dani? I will talk more about you later on.

Seems there are many opportunists out there, with nothing to lose, and no risk taken on their part whatsoever, except to ride the wave of Jeff L. bashing. I am ok with that. In the end, it will be abundantly clear that I did not intend anything fraudulent against any of you.

Ed, you and I both know that most of the things that you have said are not true or they are exaggerated or they are embellishments of the truth. I can now see why you have been successful as an investigative journalist these past 24 years, especially since all of your talent is now directed towards me.

However, talent or no talent, you and I both know that I clearly told you back in September, 2008 that FCSL was out of money. Why you have chosen to go down this pathway with my clients, as far as speaking untruthfully to them, is beyond me…unless!!…you saw an opportunity to make some good money and so here you are.

Whatever the case Ed, I don’t fear you. I need my freedom to pay both you and’ my clients back. It would be against your own good, and my clients good, for something to happen to me, since I am the only asset here that can turn this all around.

I am the ONLY human asset here, so everyone needs to seriously think about before going to the Feds, or the SEC, or taking any legal action whatsoever against me or FCSL. We all know that when Uncle Sam gets involved, you can be assured that you will never see much money, especially since there isn’t any to get.

And don’t be confused by the Madoff situation. They are saying that there is money that has been recovered. But it is only a few hundred million, so far. And he conned people out of how much money? Supposedly, $50 Billion. That is an unfathomable amount of money. So a few hundred million is truly nothing, just a drop in the bucket. For certain, we all know that the SEC and Feds will consume much of that for their “investigation” purposes. We know the routine. Please think twice, friends.

So let’s move ahead here and clear up some of Ed’s comments.

1. Ed says I am a Panamanian citizen. However, I am not a Panamanian citizen and never intended to apply for citizenship. Takes too long, 5 years.

2. I never, not once, said or implied that I was a millionaire, and even more laughable, that I was a self-proclaimed “billionaire”. Not once.

3. The total amount is not $60 million. If we are talking about principal, until an exact audit is done, I believe it to be closer to $26 million in principal. With returns and interest added to it, it would be close to $42 million in total. That is my estimation, but the audit will show exactly what that figure is.

4. I am not a fraud, of which the records will show clearly that I have not intended to do that. Not for a minute.

5. I was not running a Ponzi-scheme, like that of Madoff or any other Ponzi-type scheme.

6. Ed does correctly state that I signed a contract with him on September 18^th, 2008, for him to represent me and FCSL as long as I was honest and open with him.

7. However, it was I who went to Ed first, and at the Denny’s restaurant there in Grants Pass, I clearly explained to him that FCSL was out of money and that there was no principal, nothing, gone, no more. He clearly understood this and was a bit surprised by it when I first told him.

8. Ed goes on to say in his Public Service Announcement as of February 1^st, 2009, that when I signed the contract for his services on September 18^th, 2008, that the principal was in tact at that time. That is a complete lie and fabrication. You can look at the contract yourself. It’s been on the blog for a while now. There it is, dated and all. Does it say in the contract for services that the principal is in tact? No. The other contract dated November 11^th, 2008, that does say it. But there is a context here that you are not aware of. I will come back to this in a little bit. Again, a complete audit of FCSL will show that the principal was not in tact in September, 2008 at that time, nor is it now. That is what it will show. Since there is no other place for money to have been sent/received by FCSL clients for the past 2 years. (I will address how the money was sent to us prior to FCSL in the FCSL Update #2). And there are no hidden offshore accounts with the old Mentor Investing name, nor any other name.

9. Ed correctly says that I procrastinated in sending him the November 11^th, 2008 contract stating that the principal was in tact and was safe (the contract that you now see posted on the blog). He also required me to send him a list of all of my clients. He said to me in September, 2008 that I would eventually need to do both of those things. Although I struggled with giving up my client list, not knowing what Ed would do with it in the future, I eventually sent that to him. However, I really struggled with signing the document about the principal being in tact, because it wasn’t the truth. The principal was gone. Period. And Ed knew this BEFORE he made that document for me to sign, no matter how he wants to twist the story now. I therefore took a lot of time to send that document back to him because I was not comfortable in signing it. No one in my shoes would be.

10. Ed says that I owed him $150,000 on September 18^th 2008. Ed, what was that for? I am sure you remember. It is the taxes that I owed from buying 6 franchises from you in regards to the legal services that we were going to start across the country. I saw this as another possible income source for FCSL, so pressed forward with it. I paid $50,000 for each one and paid Ed for 6 of them. That was intended to be a good money-maker for both of us, but that is not how it turned out. (plus, I sent $50,000 to pay a one-year salary for Ted Peck, who is a very talented investigative journalist working with Ed). My agreement with Ed was that I would also pay the taxes on that $300,000, which, considering that Ed was a patriot and all, I was thinking his taxes would probably be about 20%. Not so! In the end, he supposedly owed $195,000 in taxes against that money. I found that to be suspect from the beginning and Ed provided no receipt or documentation from his accountant in regards to this matter. Besides this, I did not owe him $150,000 on September 18^th, 2008 as he states. I actually owed him $195,000. Let’s get those numbers right, Ed. It is annoying to me that you seem to slip up on those figures somehow.

11. He mentions that I say that there is a “fund” that cannot be touched until December 5^th, 2008. Where that date came from, I have no idea. I think what he meant to type there was January 5^th, 2009. Either way, that was not the truth. I did not say to Ed that there was a “fund” of any sorts, but that I needed to have at least up until that time of January 5^th, 2009 to get things turned around again. Ed, after thinking things over for a couple of days while I was there in Grants Pass, Oregon the second time (Sept. 2008), he decided to help me fabricate some kind of an excuse so that my clients would be calmed down and that they would work with me and give me the time it would take to get back on track. Ed came up with the “fund” idea. And Ed, I am not going to sit back and take your truth-stretching, come what may come. The clear truth is the only thing that will fix this problem. And it IS fixable! However, you full well know that I told you that there was no money in FCSL.

12. Ed comments “Lowrance owed me $150,000 but informed me on September 18^th, 2008, that he was broke and only had $185,000 left, besides the investor’s principal, which according to Lowrance was in a fund and could not be touched until December 5^th, 2008 or he would…..”. First of all, that was a true statement about only having about $185,000 at that moment in time. That part was true. However, the part about “besides the investor’s principal” is an absolute fabrication. I plainly told Ed Snook at the restaurant that day back in September, 2008, that there was NO MONEY. PERIOD. GONE. FINISHED. NOTHING THERE, ED. Yet, he is determined to mix and match what he wishes to believe, in order to take advantage of this opportunity for him to make some money from my clients.

13. Ed is correct in stating that I was in the middle of trying to refinance the 2 condominiums there in Panama, in order to get him paid what I owe him. This is an honest statement on his part. So then this should automatically bring up at least one question in the mind of everyone: If I did indeed have some money tucked away somewhere, why would I need to refinance my condominiums there in Panama just to pay Ed back? Certainly not for a small amount of money (in this scenario) as that of $195,000? It makes no sense whatsoever, does it?

14. Ed mentions that I sent an email to an “impeccable source” on November 13^th, 2008 that I had $42 million on deposit. At first, I was not sure who this “impeccable source” was, but now that I have read Devvy Kidd’s posting on the blog, I know that it is her. Devvy, I apologize to you for all of this. I have already sent you an email explaining my thoughts to you. You are such a great patriot, that you should be allowed to spend your time doing other things more productive, than having to deal with me and my issues. However, the context of that statement of “$42 MM” is what I will now address. Does everyone see the date on the contract that I made with Ed, in regards to the principal in tact? What is the date? Yes, November 10^th, 2008. And did you read the date of the email that I wrote to Devvy that Ed references? Yes, November 13^th, 2008, just 3 days later. I know the contract date is exact and correct, but the date of the email could be off by a day or two. Either way, what do you think that means? It means this. It means that I knew that Ed Snook and Devvy Kidd were/are the best of friends and have been for many years. This means they talk about most everything for sure. Since Ed is not an attorney, there is no such thing as attorney/client privilege with him, I was stuck. I knew that since I signed that document, regretting that I had lied, I was now dealing with Devvy Kidd and if I told her anything other than what I knew Ed most likely told her already, it would all be over. They would both crucify me. And so it goes with lying. One lie never covers another. We all know this, but I was really in a tough spot. It would have been better for me to just send out an Update with the truth, than to have to go through that with 2 people that I greatly admired at that time, both Ed and Devvy. However, I don’t admire Ed Snook anymore. In the end, it will be shown that Ed is an opportunist and is making money off of my clients, in a situation in which they already feel helpless. The Lord knows the truth and so do you Ed. You should be ashamed of yourself for abusing the already-difficult-situation that my clients and I are in. And Devvy, I will never lose respect for you. Again, I am sorry for this to have happened. The country needs 5,000 more ladies just like you! But returning to the lying. There is nothing I can say, but that I found myself in a trap and simply did not make the best choice in continuing the lie of the $42MM. At that moment in time, I could not see a way out of my predicament. And now I am paying for that lie, dearly.

15. Ed says that January 5^th, 2009 came and went without a word from me. However, that is partly true and partly not. True, in that I did not send out an Update to the clients and that is because (me, still being under Ed’s counsel, naively thinking that he was working on my behalf) Ed DID NOT want me to send out an Update, as he said it would only enrage the clients even more. He said that to me many times during December and the first couple weeks of January. That was only a month ago, so it is fresh in my mind. And false, in that I was truly in at least semi-regular contact (at least once a week) with Ed Snook, and at least up until that time and even a couple of days after January 5^{th, 2009.} Especially since January 13^th or 14^th or so, being that I had agreed to Ed’s request of me calling him every day, even if there was nothing to discuss. I had done as he requested for at least 2 more weeks after that, right up until last Sunday, February 1^st. That is, until he sent out his Public Service Announcement in which he turns this all against me. Ed, I don’t think you have ever encountered the wrath and vengeance of the Lord. You laugh at me and my comments right now, sure, and that is because you are an arrogant and prideful man. You ego needs a daily stroke or two in order for you to feel healthy. You feel that your gifts and talents are invincible. “Vengeance is mine, says the Lord, I will repay”. I will give place to the wrath of God against you, since you have clearly abused your position of trust with me, in that I told you the truth about FCSL and you have twisted it and turned it against me, solely for the purpose of monetary gain and profit. You may be doing things “ethical” and “legal”, but you are a morally bankrupt individual in the eyes of the Lord. You also call yourself a “Christian”, yet you attend no church, have no regular fellowship with other Christians, hold to false doctrines that don’t exist in the Bible, you curse like a drunken sailor, smoke cigarettes as if, literally, R.J. Reynolds will close shop tomorrow afternoon and you drink until drunk most evenings (didn’t think I knew that, did you?). And, you have an animosity against true Christians and the Christian church in general. By any basic New Testament definition, you are not a Christian, but more like an Gnostic, no matter how you want to change the definition of it to meet your wishes. God will deal with you in this matter, as you have much to learn about how the Lord deals with his enemies. I have made honest mistakes in my business, big ones. But I have not intended to steal or defraud anyone. The records of FCSL will show that to be true. However, you have used this situation to be an opportunist and to take advantage of a group of investors that you know could pay you a fee of some sorts. Some 64 of my clients have contracted with you so far and have paid you in advance, and yet you know full well that there is no money in FCSL, and that there is no money sitting in some offshore bank account, period. Yet, you are still taking money from my clients anyways. The Lord will deal with you on this matter. What is sad is that you have written a contract to those clients of which does not obligate you to anything. I have read that contract of yours and you are not guaranteeing them anything. For certain, they will lose that money as well, since there is no money in FCSL, or anywhere else in this world, in order for you to claim on their behalf. Ed, you remind me of Ananias and Sapphira in the Book of Acts in the New Testament. They fabricated a lie in the sale of a piece of property so as to cover up it up, then keep back some of the profit of the sale, and then make themselves look better in the eyes of the Apostles. They both fell down dead at the Apostles feet. All can look that story up in Acts Chapter 5:1-16. Ed, I can assure you that I am called to do the Lord’s work with my newspaper. The Lord protects His own. My time has not come to leave this earth until I have accomplished my task. You are fooling with spiritual things that you are not aware of and the Lord will deal with you at just the right moment in time. The Lord will do it. I won’t have to lift a finger. As everyone knows, I have enough to carry as it is, and yet you now want to add fuel to the fire by collecting more money from my clients. I pray for you, Ed. And clients, I will do the honorable thing and even get that money back for you as well. Give me the time and I promise to accomplish it.

16. Ed, again, twists a conversation that Carlos Olmos and I had on January 6^th, 2009. I did say to Carlos that I was very upset in that I could end up wasting more than 4 years of work. However, I did NOT say any such thing to Carlos that I was not about to return all of the investors money. I said no such thing and I think Carlos will vouch for me on this matter. Again, Ed changes the words and situation to his favor in order to sell the idea that he can go after the imaginary $42 million (or $60 million, depends on which number he gets most excited about, I guess) in the offshore world somewhere. Folks, it doesn’t exist!

17. Ed says that this “coincides with the Observer’s (his newspaper) firm opinion that Lowrance has millions tucked away that he doesn’t want to part with”. That’s fair game Ed. Bring forth the evidence and we will all be satisfied. The entire offshore banking world knows that through the SWIFT network, every electronic banking wire transfer ever sent to/from FCSL can be traced. Since that is a fact of banking in the modern world, I encourage Ed to produce the bank account(s) that holds this imaginary $42/$60 million. Because if it exists, then doesn’t anyone think that I would pull out a few million to start paying clients on the spot, or at least start up the monthly dividend program again, instead of going through all of these troubles? I don’t exactly like being away from my family. And I certainly don’t like my once-good-name slandered all over the internet. And if that mystery fund doesn’t exist, of which I can assure you that it does not exist, then guess what? Ed is bluffing for profits. Ed, you know this, yet your heart is hard, rock hard. I am a man who has made stupid mistakes and bad decisions in my business, yes. And yet I have always worked for the betterment of FCSL and for USA Tomorrow, obviously, as everyone knows and as it is in my own best interest to do so. Yet, I have still had to carry my failures with me on my conscience every single day. Those failures have been on my mind, all day, every single day, for all of this time. And now you come along and work to take advantage of my clients. But at least I am not a wretched opportunist as you are. And I know that by me saying this, it will enrage you. Good, I don’t care. All I want is for me and my clients to get back on track again, for USA Tomorrow to tell its stories and for me to complete the call of God on my life. The truth is the only thing that will get all of this fixed. If you are offended, so be it. I would rather that the truth be told on all accounts, and let the chips fall where they may, instead of cover for you and your opportunist approach to “fixing” my clients problems.

18. Ed’s comments and definition about a Ponzi scheme are true. However, again, once the FCSL records are audited, it will be clear that this is not what has happened to FCSL. We will let the audit speak for itself.

19. Ed mentions that we had started a new program and that was correct. I started a program that was paying much less than what we had been paying for the first 4 years to FCSL Premiere Clients. We brought in about 24 clients during the months of Sept. 2008 through December, 2008, those last 4 months of the year. I believe we had brought in about $480,000 during that time. The FCSL records will show this to the penny. However, by that time in early October, the “blog” had already started to do major damage to FCSL bringing in new clients. Without interference from the blog, we were set to bring in about $2.5 to $3 million by the end of 2008. We could have easily set aside a small portion of that to pay the most-needy clients right away, pay some pressing bills, and apply the majority of the rest of that money to trading. Again, this money was, in the greatest part, going to be used in real trading scenarios. Either way, when I told Ed that even most of that money was gone, he still would not believe me. That was the moment in time when all we had about $185,000 to our name, as mentioned earlier. So who is delusional here? When I told him the money was gone, and I did not even have enough to pay him his $195,000, then that is what I meant. Ed, you are a pathetic moron in twisting my words or ignoring what I have plainly said. And when I would make later references in our phone conversations about our conversation that day in Denny’s back in September, I don’t know how many times you told me that you did not want to “hear about the past”.. What, are you mentally sick? And again, I don’t care if you are upset or not. The truth is all that I want here and you will also be accountable for your part in twisting the truth, just so that you can get in good with my clients. Yes, I did say moron, because although you have some 24 years of legal work behind you and a whole bunch of credibility with that, you simply are delusional and an opportunist with my clients. And for what? For a whopping $200,000 in commissions? $250K? Maybe, at a stretch, $300K? You must be kidding me. In the investment world, that is not exactly a fortune of money, Ed. Sure, it would be great to have that to pay my most desperate clients right now. Maybe, from the goodness of your rock hard heart, you could send them some of that, yes? Dan and a few others really need it right now! You should be ashamed of yourself for jamming my clients for that money, when you know for a fact that there is no money, anywhere. Let the chips fall where they may, Ed. Sad to see our friendship end like this, but I will tell the whole truth here, whether you like it or not. Actually, I will still wish to count you as a friend after all of this is said and done. The patriot community needs you more now than ever. So any parting of the ways will be from your side of the fence, not mine. But I still think you are a bit whacked in the head over chasing after money that doesn’t exist. When I said to you that I was broke….I meant B-R-O-K-E. What part of that word do you not comprehend?

20. Ed correctly and incorrectly says that I used “new investor’s money” to pay bills related to FCSL, which would constitute a Ponzi scheme”. Correctly, in that yes, we used some of that new money to pay FCSL bills. Incorrectly, in that that does not automatically constitute a Ponzi scheme. He has no idea of what transactions went on inside of FCSL. And if he did, then it is because of someone giving him the password. If that is the case, then one of only a couple of people have the passwords. And that would implicate major legal problems for them, since it is very easy to track I.P. addresses from FCSL right to your home/business addresses, friends. Very easy. Carlos Olmos, you have been a true friend in the middle of all of this. Even after your scheming brother made about $425,000 from working for me for only 1 year and 4 months as a novel rookie salesman, you still remained a true friend in the middle of all of this. You have been a great worker and I am so sorry to you and your family for what has happened. I truly apologize to you and your family for putting you through this. You know that we have had a great friendship and that your work ethic was and is impeccable. The only thing I have here against you is that if you gave any codes to Ed, then that would be tragic, for Ed is an opportunist and he had no legal right to ask for any such codes to FCSL. The same goes for you also, Dito. I trusted you with client information. I dread the possibilities for you, should I find out that you gave out the codes. I don’t think you did, but under pressure, we humans do foolish things. In the end, it will be proven to be true that Ed is an opportunist, since he knows there is no money to be had. Besides this, I would like all of the clients to know that neither Dito nor Carlos Olmos, nor my wife, nor any of my employees, nor anyone else knew of the fact that there was no money left in FCSL. I told only Ed Snook back in September, 2008. He was the ONLY person I told about this, and yet he has taken advantage of the situation in order to make money for himself. Again, no one knew of what was happening with the whole of FCSL. You might try to accuse my accountant Dito of impropriety, but even he did not know the whole picture, since he had only a limited administrative access to the FCSL platform. Only Ed knew the truth, and that since only September, 2008.

21. Ed says that Carlos Olmos told him that “Jeff had a lot of money somewhere”. Carlos, that is your personal speculation and nothing more. Carlos, you are a true friend in the middle of all of this, so why would you say such a thing to Ed? I never, directly or indirectly, said any such thing to you. Since I knew what was really happening inside of FCSL the whole time, I always wanted to change the subject with you, or say “we will be O.K.”, or that “things will work out” or something like that. I could not lie to you and I think you can understand that. But I never, not once, told you that I had money tucked away somewhere. Never, and you know this. UPDATE: I just learned that one of the investigative contacts of “Jay”, the attorney for some 260 clients of FCSL, has confirmed that Carlos did not say that, but that Ed was “saying” that Carlos was “saying” that Jeff had a lot of money somewhere. Very interesting how this plot thickens against Ed. Now we have a licensed attorney, “Jay”, who is a decorated Iraqi war veteran, who has received many awards for military service, has contacts in the global financial community, and in which was invited to the White House for military honors,…here we have him putting his reputation on the line and he does what?….he tells me that he sides with my side of the story, verses that of Ed’s. That is probably because the truth can only be told one way. And this is not the first time “Jay” has sided with me on what has been happening with Ed, since I have told “Jay” the truth about all things since day one. Thank you “Jay” for being a good listener to the details of all of what has happened, since I know them exactly as they occurred. And Ed, it’s going to get thick and deep for you as you continue with your charade of trying to collect that which you know doesn’t exist.

22. Ed says, “according to numerous witnesses, Jeff is currently trading large amounts of money successfully”. Ed, bring forth the witnesses, because that myth will also be proven to be another one of your attempts to “build a case against me” in order to justify to my clients that they should send you their money, so you can go after me. I will be waiting for that list of “numerous witnesses” Ed, so bring it forth.

23. Ed also says that I cannot enter Panama because of “financial dishonesty”. What, exactly, is “financial dishonesty”? Was there a trial of some sorts? When did this occur, because I know of no such thing filed against me. Again, to the best of my knowledge, as of today, February 7^nd, 2009, the only possible case against me there was from Mr. Ob., one of the Panamanian clients. I owed him about $460,000. Since the laws regarding this kind of financial matter in Panama are Draconian, I had to pay him almost on the spot, or risk being thrown in jail. I was stunned at such a dictatorial law, in which a man cannot even explain his side of the story without the threat of being thrown in jail one minute after 60 days are up, if you did not pay the debt. But that is how it is. With that in mind, I settled with him for our 21-B condominium unit, my wife’s car (valued at $20,000) as security, and $25,000 cash (of which I have only been able to send him $5,000 to this point). My two Panamanian lawyers handled that matter just fine, even with me being absent from Panama. Mr. Ob. had filed a claim against me back about December 15^th or so, but my attorneys had it removed once we settled on those conditions in the second week of January, 2009. Under the suggestion of my attorneys, I left Panama as soon as it was possible. But as of this writing, there are no other claims against me, not that I know of, and not at the time of this writing, and there should not be any future ones either. I have done what I could do, under difficult circumstances, to leave on good terms. It would have been easier to deal with the Panama issues face-to-face, but our attorneys thought it best that we (my wife, son and I) leave Panama, just to be safe.

24. Ed says that “the FBI and other agencies have been contacted about this matter and have done nothing about it.” Ed goes on to say that it could be that “they didn’t find evidence of a crime”. My goodness Ed, that would be novel, yes? That is because there hasn’t been one, friend. Mismanagement of funds is a daily problem, all over the globe, in company after company. And since it will be proven to be extremely clear that I did not intend to defraud anyone, then where is the crime in that? But, so that my clients understand that I am 100% committed to getting all of your principal AND interest, and even Ed Snook’s fees returned to you, please know that I am absolutely committed to doing just that. That is the only honorable thing to do. I could file for BK protection and ride off into the sunset not owing a dime. But I will never do that. I will never allow that to happen. It is just that I have been more than embarrassed at the way things have turned out up until now. But please keep in mind that there are valid solutions to fixing FCSL and to getting all of your funds returned to you. Please bear with me as I go through all of these details.

25. Ed also mentions that he thinks I could be working with the FBI. Although I understand his point of view, and I agree with him that that is a possibility, due to the fact that not all that work for Uncle Sam are honest, I will simply say that that is not the case, nor will it ever be the case with me. In fact, I have been seriously considering walking into the nearest FBI office and just spilling my guts about all of what has happened. I need closure people, so that I can move forward with the 3 solutions that I think will work to get this all fixed. However, I am not even sure that I can trust the FBI to be honest with me. I want a fair shake, friends, and with a fair shake, it can be shown that I never intended to lose my clients money. Never. But I need to be dealt with fairly in order to make reparations.

26. Ed comments that I have some 440 clients that have invested their life savings with me. That is an extreme exaggeration. There are some 17 to 18 who invested all that they had with FCSL. That, in and of itself, was their mistake for doing so. We all know that it is a foolish thing to invest all of what you have in one single investment. This is common sense. And to prove that that statement of “they invested their life savings” is ridiculous, there are at least 370 clients or so that, yes, they are deeply concerned about getting their money back, but it was absolutely not their life savings. In fact, my close guess is that at least 1/3 of them have long since received all of their principal back. Probably more than that percentage. The audit will prove this. In fact, the attorney in S. Dakota, who represents about 260 Premiere Clients, says that the greatest majority of those clients are in favor of not only me, FCSL, but of USA Tomorrow as well. They want to see it succeed. So for Ed to say that they have invested and lost all of their life savings with FCSL is an extreme exaggeration, once again, to gain the favor of those of you clients who are considering sending him money. Clients, you know me well enough. In fact, 47 of you clients came to Panama to meet me in person, so you have at least met me and my family in person. You know my goals and my intentions very clearly. Have I been the best businessman? No. Have I managed my company as efficiently as was/is possible? No. But I am no crook. And here is another point. Since Ed likes throwing out the FBI card, I am sure they did a check on me and found a big, fat, mysterious zero! As in no record, no priors, no warrants, no nothing. And why is that? Because I am not a criminal! I am 47 years old, living in the most litigious society in the world (90% of the attorneys in the world live and work here in the U.S.) and yet I have not developed any kind of criminal record whatsoever. Yes, I had a misdemeanor back in 1995, but what is that? A slap on the hand, of which I deserved, kind of. It was stupid, but that is another story for another day. And while we are at it, the California State Department page on the internet has been there for more than 2 years. September 2006, to be exact. And what is that? Any attorney will tell you that it is no more than a slap on the write. Besides, when I moved everything to FCSL, we complied with that complaint by the state of California, yet they still left it on the internet. The State of California did an incredible injustice by leaving on the internet until even now. Some bureaucrat, who just might not like what we are doing, could leave that there for a decade and we could do nothing about it. This is an exact example of what I am talking about in our nation. We are losing the nation on many fronts. But to have a bureaucrat “just decide” to leave it on the internet is an extreme abuse of authority.

27. Ed says I “committed ‘fraud’ against him on January 5^th, 2009, because I owed him the $150,000”. That amount is correct, Ed. But did you tell them that you threatened me that if I did not send you at least some money, you would stop representing me and turn the tables against me? Ah, so then I sent you $35,000 and then another $15,000 over a period of about a 5 week period, roughly. That is $50,000 that I could have done anything but pay you that money! I am sure the clients will be happy to hear about that, Ed. And, the FCSL records will show that I did indeed send you those exact amounts of money, with dates and times, it’s all there. You are an opportunist, Ed, face it. I was already facing enough pressures to pay many other things on many fronts, but you demanded money from me, all of it, or you would turn the tables. So here we are. You, at the moment, won’t be getting your $150,000 that I still owe you and the clients won’t be getting their principal and interest either. At least not for the moment, because there is no money to pay any of you. But, given time and an OPEN ROAD IN FRONT OF ME, uninterrupted by internet “blogs”, and places of gossip, and threats of gunfire, and PI’s on my butt all day, I can get all the money repaid, right down to the last cent, if I am given that opportunity.

28. Ed also says that I have “committed ‘fraud’ by selling distributorships to well over 100 distributors around the country”. Ed, unfortunately, you have probably been listening to “Eliza”, who is Dani Rascon from Los Angeles, California. She used to work for me for all of about 9 to 10 weeks. Dani, I will deal with you and your contributions” later on. Suffice it to say that I suppose Ed got that “100” number from you. The records will show that we signed up, to the best of my recollection, down to the last day of Michelle (Distributorship Manager) signing up people, that number was no more than 26 people. They each spent $195 and I believe that all of those individuals did receive their initial order of newspapers, that being 500 copies. I will need to double-check the shipping orders on that, since I was not personally involved in handling the fulfillment on each distributor. However, I know for a fact that most of those distributors did receive their initial orders of 500 newspapers. However, even with that, I am going to pay them all back their $195 investment. It was unfortunate that the “blog” completely killed my efforts to get back on our feet again, but so be it. That is how the events unfolded.

29. The subscribers were overlooked in Ed’s comments. There are something close to 120 subscribers who paid $20 each for 6…here it is,,,read this very clearly Dani, since you seem to always have it wrong…..6 EDITIONS, as they come off the presses. NOT 6 months of prints, as if it is a monthly publication. I have always wanted it to be 5 to 7 weeks, roughly, but that was cleared up when I told everyone it would be 6 EDITIONS, and that we would send the editions out to them as often as we could get them produced. Simple.

30. Ed says that the “USA Tomorrow is now ‘defunct’”. For the moment, I am not able to produce a third edition. However, the FCSL records will show that I did pay the editor/graphic design person, Ron Lee, MORE than what was necessary to produce the third edition. The problem was that as things had been escalating from November up until now, I have had no time to produce a third edition. I simply have not had the time to get all the articles together. I did, though, send 13 or 14 articles to the editor/graphic design person, Ron Lee, nearly 2 months ago, as my first step in order to get the third edition completed. If you have read the first two editions of USA Tomorrow, you know that it takes about 30 to 32 articles to make a complete newspaper edition. That is the truth, very simply said, and the FCSL records will show this to be the case. And hey, “Eliza” – Dani, did you, by shear chance, call Ron Lee and ask him about whether I had started production on a 3^rd edition, before slamming me on the blog for “never intending to produce a third edition?” Pathetic opportunists, with nothing at risk, taking potshots with their gossip.

31. Ed says that I owe my employees money, as well as print and storage bills to various vendors. This is 100% correct. But how is it that that is of his concern? Does he want to send me a gift to help pay them off? Maybe a few bits from that $250,000 or so that you are siphoning from my clients, yes Ed? However, in regards to the employees in Panama, they know for a fact that I will be paying them as soon as I can do so. They have been great employees, all of them, except for one. His name is Antonio and he was a problem since practically the first day. Sure, he is a good salesman. But, I don’t even have to talk much about him, since all the employees know that he was forever asking for advances on his pay, week after week, not only from me, but from other employees, due to his own need of feeding his personal vices and bad habits. I don’t need to say much about him, since everyone knows his character was disgustingly selfish, to say it kindly. Since you like name-calling Antonio, and you like to make physical threats against me behind my back and on the blog, I find you to be a most reprehensible individual. And, in fact, I gave you TWO chances there in Panama to straighten up your act or get fired. I had legal grounds to fire you, twice, and I chose to give you 2 more chances those 2 times. Did you conveniently forget that in your ranting with Dani and others on the blog? EVERY employee in Panama knows this, so why are you bashing my character, when I did all to keep your job for you, when it was in my power to fire you…twice!? Did you tell everyone about that? No, I don’t think so. Instead, you find it more important to act like a child and call me Satan. Whatever, Jesus said that a man is known by his fruits and your fruits are…exactly…what Antonio? What are they, you tell me?

32. Ed says that I “deserted” my wife and son in Panama. Ed, let me tell you now, again, that you have become a manipulating, conniving, agitator of this entire situation. Due to the situation with a possible legal action against us from Mr. Ob., our Panamanian attorneys thought that it would be best for my wife, son and I to leave Panama. The attorneys suggested this to us. Once I understood that they could include my wife in the matter, I absolutely refused to have her stay in the country of Panama after learning that. So, according to the merciful and gracious laws in Panama, and the possible situation that we could be in, it was much better for us to leave the country. So Ed, you are a pathetic pig in accusing me of abandoning my family. I said PIG! I can tell you that I am a better father than you are, since I don’t brow-beat my son, as you do, into making him do things that maybe he doesn’t want to do. I really did not want to get into too many personal details in all of this, but since you are parading me out to the world as thug, I feel it best to use some self-defense here and let the truth be known. So I was there at your home, Ed, when your son was just moving back into the house with you. I saw what was going on and how you treated him. Crap, he is a military vet of 30-something years of age and you found it necessary to be that authoritarian dictator that you are to him, and as of recent, to me as well. Joe (Ed’s son) if I were you, I would knock your dad on his ass for treating me the way that he does you, especially at your age. Didn’t you just come back from Iraq? You need to tell him to quit playing the Little Nero game. Ed, No thanks, I wouldn’t want to be your son. You call me on the carpet for abandoning my family and so I find it necessary to defend my good character. Best to get that log out of your eye first, before you accuse me of my splinter, of which I don’t have. I can at least say that my father was a very good father to my brother and I. I would wish that other kids had a dad as good as our dad was to us. He is not perfect for sure, but he was not in any way one to display little Nero characteristics as you do. He never lorded over us in the way that you like to strut your inflated ego around your home and in the face of others. Sure, that’s your home, do what you want. But you won’t accuse me of abandoning my family. My folks have been married almost 48 years this September. I have wished to have a good marriage for all of my life and that is what I now have with my wife. Sure, we have had our tough times. But she stands beside me and supports me, both as a Christian and as a woman. You should be ashamed of accusing me of deserting my family, but I am sure you won’t be. Your pride, ego and arrogance are too big for your own good. The Lord will level the playing field, Ed. I promise you He will. How’s your health been lately? The Lord will get your attention, Ed. We are praying for you.

33. Ed says that “it was recently alleged that Lowrance made a deal with authorities to give them information on other investment programs and offshore investors who are evading taxes”. Clients and friends, if you read anything past the word “alleged”, you just got Snookered! He is extremely crafty with his words. But, sorry Ed, I am your equal, if not your superior, when it comes to the English language. Clients and friends, if you can’t see through this ridiculous accusation, then shame on you. For those of you who know me, I would never give up information about you to the IRS. In fact, for all that we know at FCSL, you invested “after-tax-dollars”, so we can put that accusation to rest right now.

34. And Ed says I am living in a hotel in Houston, Texas, under the watchful eye of the FBI? Ed, give it up, you are now your own worst enemy. Once the records for FCSL are shown to be what they are, your scheme to get money from my clients will be revealed for what it is. And you know, you have a few clients of mine there that have some major government contacts and resources. Wouldn’t it be awkward if they turned on you?

35. Ed concludes with some threats against me, if I don’t start paying clients immediately.

36. Wait, now I learn that Ed plans a trip to Peru to talk to my wife. Ok, this should be interesting. As far as going to Peru, well, you are on your own down there “buddy”. Now who’s the real con-artist? You have to send out an email like that, in order to start “showing” some kind of progress or activity on your part, in order to justify the collecting of fees from my clients. Moron. Sure, go to Peru. Clients, there is no money there either. Who, in his right mind, would keep millions of dollars in Peru? Those mysterious accounts don’t exist! There are no hidden or normal accounts for my wife, either. Ed says he is going to tell my wife what kind of criminal I have been. Ed, she knows everything that I have written in this Update and you know what, she already knew that something was not right, obviously, since we had to MOVE OUT OF PANAMA, IDIOT! She just did not know all the details. And, yes, you are an idiot. Look it up in Webster’s if you forgot the meaning of the word. You are taking my clients on a one-way trip to nowhere, “buddy”. So guess what about my wife? She is still supportive of me, because she knows I am not a fraud, Ed. So now let me get this other thing straight, because unless I missed it somehow, do you speak Spanish? Ah, you are taking a translator. Good, because you will need that and a posse as well. Best be ready for Peru, because if they will kidnap me, as they did, and I can at least run a whole lot faster than you, then they will bust you up and send you home in a crate. In fact, you might not even make it back to the states. You should seriously rethink Peru, but do what you want. I make no threats here, for sure. But I can just see you down there, hunting for my wife’s house in god-forsaken Lurigancho. Yes, that is where she lives. Here, let me help you. L-U-R-I-G-A-N-C-H-O. Ever heard of such a name for a city/district? It is pure Peruvian Incan Indian. Yes, and there are 1.3 million Peruvians that live in that district of Lima. Go ahead, show up at her house, if you make it there alive, since they are not too fond of Americans out there in the projects. And especially since the US Dollar is pegged to the Peruvian Sol, and the Sol has dropped so much in value these last 2 years, they are really tethered at Americans. But I have to say, that is quite a thing to imagine, you being in Peru. The street thugs will see you coming for miles. I will pray that the Lord will make the thugs show you mercy, after they have stripped you and your posse of your belongings. Sure, you probably have some FBI/US Embassy contacts that will work on your behalf, and that will produce what? Ed…write this down…ready moron?….ARE YOU READY…YES?…did I got your attention yet?…yes, thought so….it will produce nothing, because you are a thief. My clients, those 64, are gonna be incensed when you come back with nothing to show for your efforts. What? But you “know” I have an account there in Peru, and even at a major bank, and so what will you do? Ah, yes, you will summons the bank account records, through your “global contact base”. And that will show what? Nothing, again, nothing of any substance at all. That was a simple personal account and should that bank see me running millions, or even hundreds of thousands through that account, they would have shut me down a long time ago. Peruvian banks are real edgy about that kind of thing. There has been so little money that has gone through that account, when compared to what has been brought in from clients over the years, that it is not even worth mentioning. You will, indeed, come back empty-handed, if you even make it back at all. Again, that is not a threat. But clients, I am sorry for all of this again. Yes I am long-winded, but this, again, is my only chance to let you know that I am not a fraud. So you are getting it all, with both barrels. And yes Ed, you were forever calling me “buddy”, while all the time, behind the scenes, you were plotting against me these last few months. However, in addition to all of this, my lovely wife has dreams. And they are deadly accurate. So accurate, that it is scary. The Lord just gives her dreams and it is amazing at how exacting they are. This may sound a bit strange, but she had a recurring dream, starting way back in June, in that someone very close to me would backstab me. Ed, you make me want to curse. I just want you to know that the Lord has no limitations on His creative ability to take vengeance upon you. Ah, the truth all comes out now, yes Ed, you conniving fool. Actually, I am holding back an Ace, so that I can release it at just the right time. We’ll just have to wait to see what it is. Besides that, the Lord is not blind. He knows all, sees all, so get a grip junior. You don’t live in a vacuum. “Jay”, the attorney, knows about this Ace that I have, so it is not a bluff.

Enough said regarding Ed. If I was you, I would not give him a nickel, as he will not find any money, because there is none to find.

However, I want to emphasize yet again that there is great hope for FCSL. Currently, I am working on 3 projects simultaneously to get us back on track. Project #1 is that of the trade emails that you see coming to your emails practically every day. Project #2 is a group of trading software programs. Each of them has been proven to be fairly profitable over a good period of time. And the #3project is that I am working on a couple large building projects, in which I can earn a few hundred thousand dollars per sale. I have 2 buildings in the process right now.

The third project, of which I just mentioned, is looking to produce enough money for me to pay the most desperate clients first. Then, the first and second projects will be geared to earning enough money to at least get us either back onto the monthly distribution program and/or to start repaying clients portions of their principal and interest.

Now to discuss the paradox of FCSL. As I mentioned above, project #1 has to do with the emails that you get in regards to the trading activity. We have a nickname for them which are called “Reco’s”, because they are what are called trade recommendations in this business. We did not term the nickname, but just picked it up a long time ago back in the beginning.

I have to imagine that by now, after some of you watching those emails for more than 3 years, and especially for those who have done some diligent studying of those trades, you must be scratching your head wondering how it is that we are profitable in those trades, yet don’t have enough money to pay you your principal and interest.

And for those who have diligently studied those emails, you know for a fact that we are very profitable in those trades. If you have taken the time to truthfully study the emails, which means to click on the link inside of the email and pull up the chart and verify the entry time, exit time, price of GBP/USD at Open and price of GBP/USD at Close, you must be really perplexed trying to figure this out. Actually, it was an accident, but then it turned into a very accurate tool for the chart analysts to demonstrate their ability to follow the market fairly accurately.

Here is the long story short on the emails. First, they are NOT actual trades. Second, they are actual trades. They are and they aren’t. Allow me explain.

Back in May of 2004, I moved to Peru to get married and live there in Lima. By August, 2004, just 3 months settled in Lima, I was able to finally get Mentor Investing, Inc. established and operating on a small scale. When I started out, I was trying every known Forex system and reco/signal service that showed some promise of profit.

After trying practically everything under the sun, we realized that, at least to that point, the Forex business was certainly a tougher bargain than what we were cut out for. I started looking at other people’s call signal programs. These seemed to offer hope. And, yet after nearly an entire year of searc hng and studying all that was on the internet and on the market, as far as signal services and software, we had tried it all.

I suppose the worst crook of them all is Peter Bain. He is such a load of dung, I am having a hard time believing that he has not been thrown into prison for being a direct, in your face, fraud. And I know there are many of my clients who know who I am talking about. I had many a discussion with many of you over those first 2 years about Peter Bain and his “trading”. What crock!

Peter’s morning analysis is such crafty salesmanship, that I am stunned that the FTC, or somebody, has not picked up on it and closed him down. I would lay bets he is good friends with the Rothchild/Rockefeller dynastic families, because they are the families who pushed to deregulate the global Foreign Exchange business back in 1996, of which it was deregulated in 1997 the following year.

Friends, I have to tell you all of this in order for you to know that we tried every imaginable method known to mankind to make a profit from Forex trading. I burned the midnight oil so much so, that my wife started complaining about my schedule and how I started missing family time and even time with her as well. Not a good picture, but I was determined to make the business work.

You know, when you read all the literature and see that a mountain of people are involved with the business, you just assume that somebody, somewhere, is making money in that business, so you tend to want to emulate other successful people. So I did just that. I did online seminars, I signed up for FXCM $500 trading course. We bought the trading signal services from at least 20 to 25 companies over the total history of our being in business.

For example, I met Jeff S. (from Texas) at a seminar just a couple months before I went to Peru in March of 2004. The seminar was hosted by Soveriegn Society. They presented themselves as an extremely organized and professional offshore specialist in establishing offshore corporations, LLC’s, banking, privacy, taxation, and the whole nine yards.

At their seminars, they have multiple speakers (usually as many as 15 or more) over a 2 or 3 day weekend event. One classification of speaker that is always present at a Sov. Soc. event is a “professional forex trader”. When I met the first one, I was impressed, somewhat. Of all names, she had the name of Barbar Rockefellar. That was a bit of a stretch for me, being that she was from New York and worked in a Manhattan office. Coincidental? I am not sure, but it was very strange.

So she had trading signals that you could follow. I followed those recommendations as if my financial life depended on it, because it did. After they had puffed her up as someone special, I followed along for about a month, only to realized that she was full of hot air. Just pure technical mumbo jumbo, and her trade reco’s did not, over even that short month, make any money. Not too long after that, the Sov. Soc. cut her from being the Forex voice for them.

Then came the team of Boris and Kathy. I forgot their last names, but they were a real show. They had worked for the FXCM brokerage firm in New York prior to their stint at Sov. Soc. Then I heard about a big event scheduled in Panama, with those 2 to be present, so I made sure I was there.

While at the seminar in Panama, one of the clients at that time was Mr. K (San Francisco – remember that Mr. K.?). As I was sitting there next to Mr. K, I was picking their strategy apart and simply said to him, in so many words, that they were full of it and I would not give them no more than 6 to 9 months with Sov. Soc. before they got the boot. There were probably 400 people at that one seminar that day, and more than 100 people responded to their Trade Signal program. And yes, not even 6 months later, they were gone.

Then came Jack Crooks to Sov. Soc. I met him in person in St. Kitts last year. And hey Ed, didn’t I pay for your trip to St. Kitts? Yes, I think I did. You forgot that, yes? Either way, I had known of Jack for about 6 months prior to that and had followed his Trade Alert program religiously and found him to be pathetically unprofitable, insomuch that I was surprised that Sov. Soc. still had him on staff. I kindly grilled him in St. Kitts, only for me to get that “Jeff, you are a rookie, what the hell do you know?” attitude. Yes, and for all I know, Jack Crooks is also no longer with them anymore either.

Now Sov. Soc. has someone else, of whom we have chosen to not follow. So these 4 names here only represent 4 names of the multitude of “traders” and “signal services” that we have subscribed to over these last 4½ years. And all of them, without exception, did not last more than 2 months.

However, we thought we had found a winner by way of a trader in the country of Hungary, of all places. He was fairly good. However, again, after about 7 to 8 weeks of his picks, he started to take on some major losses in his system and then in week 9 it all went south, and quick. It got so bad, that I even created a special phrase for these jokers called “traders”. It goes like this, “When your drawdown exceeds your upturns, your money management becomes your downfall”. Kind of like saying, “When your outgo exceeds your income, your upkeep becomes your downfall”.

So everything we tried, failed. All of it in vain. Everything. Well, in the end, it was not a complete failure. No, not all of it, as we will discuss the “safety net” in a few minutes. But think about it if you will. I would assume that some of you have had to deal with years of consecutive blank walls in your business, so you can sympathize with us. This is what we were up against. Who could ever guess that the Forex is one of the most difficult businesses in the world to master.

As I have mentioned before, there is a silver lining to all of this. The Project #1 that I mentioned above, which has to do with the emails that you get in your email just about every day, that is our silver lining. That is the most important “safety net” that I have to offer to everyone, so please hear me on this.

As I mentioned before, I had lived in Peru from May, 2004 to February 2006. During the first couple of months of living there, I of course became friends with many Peruvians through my wife.

After my wife and I moved out of her home there in Lurigancho, and over into a nicer part of Lima, within a short period of time of moving in, I started hosting a weekly Forex class in our house. It was a very educational time for all of us. The Peruvians always came up with good questions and we really pushed ourselves to know the Forex business.

We pulled out the charts, we got the projector running with live market feeds flowing, and we even helped with the dollar or two for most of them to catch a taxi to the class once a week. I only invited all of the closer friends from the Lurigancho area of Lima and they all came, by the taxi and the bus, to the classes that I would give.

We covered information from Peter Bain. Of course, I hammered him a little earlier in this Update. But at that time, I did not know what I now know about Peter and the Forex business.

Either way, we had invited about 15 people to begin with. However, over a period of about 5 to 6 months, there ended up being 31 students that had attended the classes. I taught the classes as a gift to the Peruvian people. Opportunity, to speak of, does not exist in Peru. It is 3^rd world country in many ways, yet an occasional McDonald’s and Burger King here and there. A middle class does not exist.

So the most important thing that came out of those classes of 5 to 6 months were 6 individuals that were distinctly more serious about the Forex than all the others. All six of them were steady attendees and were always on time, available to help, etc. They, on all occasions, wanted to continue their Forex education.

In the end, there were actually 2 Peruvians that did not have jobs to speak of and could focus on learning the charts 100% and so I gave them both jobs.

From those free classes that I gave to the people of Peru, there came several employees who stayed with me all the way to Panama. Everyone knows who they are, so I don’t have to name names here. But suffice it to say that two of those 6 that came to work for me permanently, are two of the best forex chart readers that you may ever find on the planet. Why? Because just the way that it turned out, they happened to end up looking at charts for years and years now.

Those two, and one in particular, is so good at reading charts that I would put him in the top 100 globally. He is that good. The second one I would put in the top 300, but that is still saying a lot. There are tens of thousands of “professional currency traders”. But for sure, my two troopers can out-trade most all of them.

And that is my “safety net”. And you say why? That is because they are the two people who have been sending the emails for all of these years. 3½ years to be exact. But now you might ask me why we have not been trading live all this time. Here is why.

Remember that in Peru when I first hired these 2 men, they were just that – Peruvians. To that economy in Peru, if you have a good paying job, you are earning about 800 Peruvian Soles a month, and that is the top end. Translated in US Dollars, that is no more than $300 a month.

Just figure that if you were raised in an economy where they sell individual cigarettes because even buying a regular pack can be expensive, and that you would pay for a single roll of toilet paper, because buying a 4-pack or an 6-pack or an 8-pack was too expensive. That is the kind of economy these two men were raised in. Therefore, to translate that to trading in the Forex, here is what happened. The psychological of trading with even $10 a pip, was an impossible mental barrier for them to get over.

To make it brief, when I would test them to start running real trades, they lost their butts so many times it was really sad. Even at the beginning, they could make pretty good trade calls, and yet they would clam up when having to trade real money. But isn’t this just like all of us that have ever traded before. We are all like this, due to the fear of loss.

We tried this for most of a year, but could not get it to work. Even if they made the chart call as to when to get in and when to get bout and I was to stand there and trigger the trade myself, they still got cold feet and feared to make mistakes. We went round and round about this, but you can’t force someone to rid themselves of the fear of loss.

So now they come to Panama and live there for nearly 3 years. They come to realize that the world, outside of Peru, is extremely expensive in comparison to all things Peru. Except for gas prices, which are about $6 a gallon in Lima, all other costs are much more inflated in the rest of the world.

I could bore you with a mountain of other details here, other trading systems, this and that, but I want to get to the point here as to why I think the safety net will work for us.

Moving up to late July, 2008. One of the two of them come to me and ask about the money situation and why the clients had not been paid. He is not the kind to ever interrogate for answers, but that he simply wanted to know if he could help somehow. I told him that I was working my butt off to get us back on track again.

However, in that discussion he also said that he and the other chart reader were actually getting bored with sending the emails. He said he certainly appreciated his job, but wanted to go to the next level. I asked him what he meant, and he said just that, that he and the other chart reader would start to trade real money so that they could help with the situation by using the gains to help pay clients.

I found that to be a touchy subject in the past with them, due to the fear that they had from a couple of years ago and them both getting blown out of the market a few times each. I thought that that was a couple of years ago, and maybe now they were ready for real trading. It could not come at a more appropriate time, so I thought more about it.

As they insisted on helping somehow and said that they wanted to get serious about trading and that they were confident that they could do well, now that they had looked at charts for 3 years and had been sending reco’s for more than 3 years. I then agreed and said that they could open demo accounts and trade the trades inside of a demo platform for at least the next month and then to show me the results. I told them that if you make money in your demo platform, I would open a real account for them. Trader #1 did open an demo account and started to make money right away. And even with different brokerages, which is important for your trading confidence. But that is another subject for another time.

Now, I had an old account at Saxo Bank in the Netherlands and I let my #2 trader start trading in that account right away. I had roughly $41,700 in it when he began. He started trading my account and within 3 weeks exactly, he had grown the account to $52,600. That is about a 26% gain in less than a month.

In total, He triggered something close to 83 trades in those 3 weeks and then the unthinkable happened. The broker started to mess with the account. At first, when he told me this, I was a bit surprised at it, due to Saxo Bank’s “reputation” for being an honest broker. Brokers and Market-Makers are another subject for another day.

Suffice it to say, Saxo Bank started to intervene in his trading activity with “No Price”, “No Trigger”, and the infamous “Re-quote” buttons popping up, as if the market was acting volatile. However, there is never volatility of anything worth mentioning at 11PM Eastern and at 5:30 Eastern in the afternoon, which is during a good number of his trades.

Prior to that trading period, which was from about the end of July through to the middle of August, he had had no interference from the broker at all.

Also, my #1 chart reader has done a handful of one-week trading sessions of demo trading for many months and has sent them to me over these last few months via email. I sent his most recent example to “Jay” and the client who is doing the audit of FCSL. I think they were both impressed, due to the fact that my #1 chart reader grew the account 28% within that one week, and by trading 73 trades during that week. He does not have streaks of luck. Both of them have such a good feel for the market that they just know how to trade.

To retrace a bit. Once they saw that I was having problems in paying clients, they wanted to help. With that in mind, I told them that if they could show me one full month of demo account success, I would also pay for their tickets to go back to Peru, being that they were getting bored in Panama. To them, all things are golden in Peru. Bless them.

Also, I have been working on one other project that will be paying me some substantial money, in which I can use to at least pay off the most desperate of clients first. I feel that it is most important to help those in the most need, first, then to pay all the others after that.

Sure, some of you have been long-time clients and have made 50%, 100%, 150% and even 200% on your money. A handful of clients have done even better than that. However, I think it best to pay those that are most desperate first.

I don’t have a single thing to hide. I want a completely clear conscience in all things. I want to get back to sleeping at night. I want you to be able to sleep at night as well, know that I am working 7 days a week to remedy all that has gone wrong.

I haven’t slept normal for close to a year. My wife, employees and personal doctor there in Panama will vouch for my odd sleep habits.

However, with that in mind, not a minute do I intend to use my Christian faith as a cover or an excuse for the failures that I have had as of recent. I have already said this in this Update earlier. So being a Christian, in any context, does not give me an extension line to abuse my fellow man. To the contrary, it makes me even more responsible. This is certainly one thing that has eaten at me for this last one year. I could start seeing the writing on the wall and I did all that I could do to get it turned around.

As anyone who has come to visit me in Panama, and as most all of my employees will say, I have one of the most generous hearts that a person can possess. I say this in humility, meaning no stroke of my ego whatsoever, but in defense of the fact that I am happy to have developed that part of my Christian character early on in life. Actually, for me to establish a national, Christian and patriotic newspaper, it is a required character trait that must have already been instilled in me as a person, if I were to pursue such a goal. “Giving” has never been hard for me to do.

Which brings me to my first mistake in business. I have paid people too much. I could go through the long list of employees and vendors that I hired and worked with and the general trend would be that I paid them too much. Not all cases, no, but enough to see some waste of funds.

As mentioned before, this all began with my dream of establishing a new national newspaper which would discuss all the issues of the day, including Bible lessons/studies and which would help bring our nation back to its once-great position of true blessings from the God of the Bible.

This also began with my strong belief that our economic picture in the U.S. is only going to get worse, not better. As much as I love my country, that is now a hard fact to admit. Look what has happened economically in just these last 2 years. However, I knew that the horizon did not look good, from my perspective, at least 7 years ago.

There is a recent book published entitled, “The Collapse of the Dollar and How To Profit From It” written by James Turk and John Rubino. It was published in 2004 and it is most prophetic in its outlook of the U.S. economy. I would suggest that every one of you buy a copy of that book and start making plans.

Dad and Mom, the good old days are all gone. My son will not be raised in the America that you and I were raised in. We had it easy, but my son will have it extremely hard, that is, if the nation event exists at all. Let’s pray for the mercy of God on our nation.

The Holy Spirit has always kindly pressed me forward to get on with the vision of the newspaper project. Since there are many Christians that are my clients in FCSL, you already know that the Bible teaches that the Holy Spirit is a gentleman and won’t push us beyond our own free will.

Continuing, I never really got truly serious about developing the newspaper until right about 6 years ago. I had already made a lifetime of decisions up until then, but had never really taken the call of God upon my life serious enough to see Him really bless my life enough to make the newspaper a reality. A national newspaper is a monumental project, more than what I even imagined it to be. But since I made that official decision to press on with the vision, I have been up to the challenge of it 100%.

When I made that decision things started to turn around and I got very focused on the possibilities of the newspaper project becoming a reality.

Enough on that subject. At this point, I have committed to “Jay” (the attorney from S. Dakota) that I would stay in steady communication with him, as I have done so over these past couple of weeks. This FCSL Update #1 had been sent to him, first, a few days ago. Then, after he and I had read it thoroughly and made a couple minor grammatical corrections, we agreed that FCSL Update #2 should be completed and sent along with FCSL Update #1 at the same time.

Now, I have just combined the two together, so there is only one FCSL Update #1. There is not a #2, at least not yet. Once “Jay” has collected all of the questions, he will forward them all to me and I will work on getting those answered. You will be able to respond with questions directly to “Jay” or to me. But do know that this process will overwhelm both of our lives for the next full week. Please be patient.

Again, I wish to humble myself before the Lord and humble myself before all of my clients, ex-employees and vendors as well. I have not managed the money correctly and the principal no longer exists, no matter what Ed has to say. However, there are solid solutions to fixing FCSL and getting your funds back to you.

Here is a summary of what I have said:

1. That I am not a fraud, nor a thief.

2. That my intent, from the beginning, was/is to develop a profitable financial product in order to raise enough money for the development, printing, and distribution of the USA Tomorrow newspaper.

3. That Ed Snook is incorrect in his assumption that there is money of any significant amount (that is, from $50,000 and above) in an offshore account anywhere. It does NOT exist.

4. That there is, however, great hope to fix the problems of FCSL, even of this magnitude. The millions lost do not shake me, as I have become very accustomed to working with large amounts of money for many years now.

5. That way back 3 ½ years ago, I put in a “safety net”, just in case there were to be problems in the future. Those are my two experienced chart readers and they have been ready to trade since August, 2008. I know you will have more questions about this, so please ask me.

6. That this won’t be fixed in short order. But that I am currently working, and will be working, diligently, 7 days a week, to get the most desperate clients paid first by using my building occupation to get them paid back as soon as is possible. I would like to project that I will need 2 to 3 months to pay the most desperate clients in total. This means that right April 15^th, 2009, I am looking to have those 17 or 18 of you who are the most needy clients. I will compile the list and get it sent out to only those who are on the list. “Jay” and the auditor will know who these people are.

7. For all the rest of the clients, we will be dividing you into a couple different groups that I have thought about for quite some time. Again, “Jay” and the auditor will know about this as well. My goal is to have all of the remaining clients paid off within a 9 month to 12 month time period, with solid good faith payments to be made as funds are earned and become available.

8. That after all is said and done, I will have paid every client, every cent that I owe them. This will include both principal AND the correct interest that is due to each of you.

9. That I intend to pay my ex-employees in Panama as well, although that amount is miniscule compared to what I owe FCSL Premiere Clients. I greatly appreciate the work that all of you did for me while you worked for me there in Panama.

For the moment, this is all that I am able to write. It is long and I am exhausted. I will get some rest now and return to the task of writing more tomorrow. There are a few more things to cover, in particular the different legitimate concerns that people have commented about on the blog. I will have a separate Update for that coming by the end of this week.

Like I said from the beginning, it is not possible to explain in a 3 or 4 page brief all of the details, of all of the events that have lead up to what we are now dealing with in FCSL. Impossible.

I thank you for your patience, yet once again.

And finally, I know that I am the asset here and that if anything happens to me, no one will ever get a dime. If “they” lock me up for 15 years or if Ed Snook is allowed to rant after me, then that will greatly hinder or completely eliminate your chances of ever getting your money returned back to you.

That is the absolute opposite of what I want to have happen and I need your help in helping me to keep my freedom, so that I can work towards the benefit of us all. I have not skit-skedaddled and left the country and won’t show up AWOL on some list somewhere.

And please get the “hidden money in an offshore account” out of your mind, because time and a solid audit of FCSL will prove that there is no money in any such hidden account. Should we do a SWIFT trace on all electronic wires, this will also prove that to be true as well.

I do appreciate your great patience in reading this long Update. I am not a person of just a few words. After all that has happened, you deserve to know that I am not a fraud, but simply that it was going to take some time to explain everything correctly, in its proper context. And everything must be explained in its proper context, which is most important, and it takes time to do that right.

I have committed to “Jay” to continue writing and sending Updates until everything is out in the clear.

Not only do I want to get you all paid back, but I want to actually have clients gain such a high level of confidence and trust in FCSL again, that you will seriously consider re-investing with us again at some point into the future. I know that sounds like a pipe-dream, but I am asking for my clients to give me the necessary time, space and opportunity to earn your trust once again.

Thank you again,

Sincerely,

Jeff Lowrance

CEO – First Capital S&L