.comment-link {margin-left:.6em;}

 The image “http://photos1.blogger.com/img/18/3404/640/NewsORamaLogo-rev1.jpg” cannot be displayed, because it contains errors.

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."
Comments: Post a Comment

Links to this post:

Create a Link

<< Home
Current events with a sprinkle of opionion.


A prematurely crusty South Park Republican, with a raging addiction to internet news and current events.

Contact NewsORama:

powered by FreeFind

Daily light reading:

September 2004 / October 2004 / November 2004 / December 2004 / January 2005 / February 2005 / March 2005 / April 2005 / May 2005 / June 2005 / July 2005 / August 2005 / September 2005 / October 2005 / November 2005 / December 2005 / January 2006 / February 2006 / March 2006 / April 2006 / May 2006 / June 2006 / July 2006 / September 2006 /

Powered by Blogger