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Tuesday, September 20, 2005
  Error America, the vultures are spiraling.
Former Air America Executive Denounces Transfers of Funds From Bronx Club - September 20, 2005 - The New York Sun - NY Newspaper: "A Clinton administration official who served as a top executive of Air America, the politically liberal radio network, says he was 'sickened' to his core by the thought that the network was funded by money taken from a Bronx Boys & Girls Club.

The former White House official, David Goodfriend, said that Air America's investors created a new company soon after discovering the transfers. They were motivated, he said, in part by a desire to avoid the $875,000 liability to the Gloria Wise Boys & Girls Club.

Mr. Goodfriend's comments came under oath in a six-hour deposition conducted May 16, 2005, as part of a civil lawsuit by a creditor seeking to collect a New York State court judgment against Air America. A transcript of the deposition was obtained by The New York Sun from a source on condition of anonymity; it was confirmed as genuine by a lawyer, Randy Mastro of Gibson, Dunn & Crutcher, who represents the creditor suing Air America.

The deposition could boost Mr. Mastro's case in the $1.5 million suit against Air America.

Mr. Goodfriend said in the deposition that when investors found out about the money from the Boys & Girls Club, 'They hear this and hear about other liabilities and conclude, I think we better just form a new company clean of any old liabilities.'

Mr. Goodfriend, now a Washington based lawyer, said in the sworn deposition that he refused to sign an agreement that transferred ownership and assets of Air America to a new company, Piquant LLC, from Progress Media because he believed it constituted a 'fraudulent conveyance."
 
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