Fat Steve's Blatherings

Monday, August 01, 2005

More on "Air America" story

      A few days ago I posted on this scandal.  Briefly, the founder of Air America, Evan M. Cohen, borrowed $380,000.00 dollars from Gloria Wise Boys and Girls Club in the Bronx, and didn't pay it back. The City of New York is investigating.

      Much more information here, from The New York Sun.  Assuming the sources are telling the truth (they're mostly named, a good sign): Cohen did fund raising for Gloria Wise.  They liked his work, so they willing loaned him $167,000.00 dollars for Air America.  Then, someone stole another $613,000.00, while Cohen persuaded a board member to loan him another $35000.00 for "medical expenses" that will turn out to be bogus.  Total take, $815000.00, much more than previously reported.

      Credit where it is due to Piquant LLC, the current owner of Air America.  Piquant bought it from Progress Media, the company Cohen founded.  Piquant disclaims all responsibility for what Cohen did, but have agreed to pony up the money anyway over the next two years.  Bravo, Piquant!  That showed real class.

      It will be interesting to see how this turns out.

THE HOUSE OF SAUD MUST BE DESTROYED — AND WILL BE!

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