No clients, a sailing school without boats, and Friesner's lawyer spent four years in jail for a fraud case...
Things are not going well for Canadian scammer Monte Friesner and his Pronto Cash debit card scheme, and the rest of his business empire is disintegrating into nothing but a hollow shell, Bananama Republic has learned. Inside sources tell us that there are almost no clients, very little money is coming in, websites aren't being updated any more and the recent move from the Global Bank building to the Credicorp tower should really be seen as a downsizing measure.
The Panama Sailing School, Friesner's "respectable" front, has reportedly sold all its yachts minus one, the Scouser, which is a piece of crap according to yacht brokers and harbor masters at Amador. Why the Friesners maintain a Sailing School with an expensive office on the causeway that has no boats to sail with is of course anyone's guess. "It's probably a front for something else", one source said.
Yet "something else" is quickly turning into "nothing else".
FRIESNER'S LAWYER SPENT FOUR YEARS IN JAIL
Then there are things going terribly wrong. We consulted various high-profile lawyers in Panama, including one former Supreme Court magistrate, and they all agreed that the criminal complaints as well as the civil suit that Pronto Cash/Friesner's in-house legal counsel, José Luis García Sanchez, has recently filed against us and others are so badly constructed that they won't go very far for that reason alone. The legal errors and profound lack of legal knowledge are so obvious, according to our legal sources, that it almost looks as if it was done deliberately.
Then again, Bananama Republic learned that Licenciado García has a rather special relationship with the law. A simple search turned up an article from the 2006 archives of La Critica, which reports how Friesner's lawyer was arrested and detained for serious fraud. He and an accomplice were accused of stealing almost $130,000. Further searching revealed that José Luis García Sanchez spent four years in jail while the case went through various appeals. Eventually it was somehow settled and the charges dropped while the case was pending in the Supreme Court.
The bio on one of Friesner's websites is, true to form, extremely vague about Mr. García's exploits in the wonderful world of fraud and corruption:
In 2002, he decides to work as private legal consultant for the Construction Business, Financial Institutions, Commercial Institutions, Real Estate and Private Investors on various areas as Commercial and Corporative Law, Civil, Labor and Migration.
It doesn't say anything about jail time in the case we found reported in La Critica, and which we understand had something to do with him taking fees to file applications with the Maritime Authority under the Moscoso administration - and then the applications were never filed. Once out of jail, García soon started to work for Friesner in what can only be described as a textbook example of "birds of a feather..." After all, Friesner's specialty, according to US court documents, is advance fee fraud too. It must be so reassuring for prospective clients of Pronto Cash to learn that their debit cards are being provided by such experts in fraud and deceit!
With already one case down at the Colegio de Abogados next to his criminal case, García's lawyer's license would probably not survive another complaint for serious ethics violations - like knowingly filing false criminal complaints all over the place for harassment purposes only - a member of the Tribunal de Honor told us, and we were therefore hardly surprised to hear from sources close to García that he "wants out" sooner rather than later.
José Luis García Sanchez is a muppet of well-known lawyer Herbert Young, who is partner of legislator José Blandon in Blandon & Young, Friesner's corporate law firm; a shareholder of Pronto Cash; husband of the president of Friesner's real estate outfit; registered agent for almost every Friesner corporation and founder of a wacky club for fake diplomats. Could it be that, after revelations here about Friesner's involvement in the looting of Russia and everything else we revealed about this consummate fraud artist, the lawyers want out of this Friesner mess now that it is abundantly clear that his scams and schemes are getting them in trouble instead of making them money?