Information keeps coming in about the criminal past of Monte Morris Friesner, who heads the Panama Sailing School and the Blue Dolphin Yachting Club and is behind a number of extremely suspicious financial enterprises like Pronto Cash (website has been closed down), One World Financial Solutions (which also operates under the name "Carlyle Coutts") as well as a real estate outfit called Swiss Hannover.
The Panama Sailing School website still refers prospective clients to the Pronto Cash website to make payments, even though Pronto Cash, which purported to sell prepaid Mastercards issued by Panama's National Bank, appears to be out of business.
Meanwhile, Friesner already in 1986 admitted to the Montreal Gazette that he had a criminal past which includes convictions for fraud, assault, arson and possession of stolen property. But that, it appears, was only the beginning of a long criminal career.
His gig, it appears, is advance fee fraud, something he got convicted of in the US (together with money laundering), and where the court summarized:
The evidence presented at trial established Mr. Friesner was a consummate fraud artist. He sought out potential victims who were seeking enormous loans. Mr. Friesner would then enter into contractual agreements requiring the prospective borrowers to deposit a large sum of money, usually $250,000, in an escrow account as a commitment fee, demonstrating their ability and devotion to obtaining the large loans. The borrowers understood these commitment fees were to be returned to them in the event Mr. Friesner could not secure a loan for them. They were further led to believe Mr. Friesner would obtain a commission fee from other sources. No loan transactions were ever completed and the funds deposited in escrow were purloined by Mr. Friesner.
Something similar appears to have happened with a company called Hy-Tek Oil Products Inc.. In 1988, The Journal Record published this story:
HY-TEK MAY NOT BE ABLE TO COLLECT AWARD IN $11 MILLION DEFAULT CASE
An $11 million default judgment has been handed down by U.S. District Judge Ralph Thompson, but it may never be collected because two of the losing parties are in federal prison and another lives in Toronto, Canada. The judgment was rendered in favor of Hy-Tek Oil Products Inc., based in Oklahoma City and was related to a loan promised to Hy-Tek to purchase Sasnett Enterprises Inc., an Oklahoma City motor oil repackaging company, according to the suit.
Sasnett Enterprises was involved in Chapter 11 reorganization proceedings that were later converted to Chapter 7 with the firm's sale to a third party, according to court documents. Hy-Tek sued a Jordanian, Fayez Karim, and a Canadian, *Monte* Morris *Friesner*, because the two commited themselves to loan Hy-Tek between $3 million and $6 million to buy Sasnett Enterprises.
The suit named another man, an American named Milton Fletcher. Fletcher and Karim were arrested in Chicago in 1987 and in May were convicted on 10 counts of criminal racketeering, mail fraud and wire fraud, according to court records.
The judgment, entered in Oklahoma City federal court, was the result of a civil racketeering case brought against them and their corporation, International Lending Sources Corp., by Hy-Tek. "They never performed on their commitment," said Walter Jenny, Hy-Tek's attorney. "They never really gave a reason. That's one of the reasons the lawsuit was filed."
Jenny said Karim, prior to 1986, was a fairly reputable businessman claiming to be involved in "hundred-million dollar deals" including a $500 million deal in Manhattan, although the Federal Bureau of Investigation later told Jenny that Karim lived in a garage apartment while making the deals.
Karim went into business for himself, Jenny said, "and proceeded to deal with my client." Since Karim and Fletcher are in federal prison for four years, *Friesner*, the Canadian national, is the only person involved with assets that Jenny may be able to obtain in partial payment of the judgment.
Jenny said he has retained a Canadian solicitor to conduct an asset search on Friesner, who lives on the shore of Lake Erie in a luxury condiminium complex called Palace Pier. "Freisner came in with one $20,000-wire dated three days after my client wired $20,000 to Karim," Jenny said, according to information from the Federal Bureau of Investigation. "That's the trigger as far as we were concerned," Jenny said, because on the transfer was the word "Hy-Tek," his client's corporate name.
Jenny said part of the lavish lifestyle maintained by *Friesner* includes traveling by Lear jet wherever he goes, including on a trip to Oklahoma City. "When Karim and Freisner came to Oklahoma City they came in a Lear jet," Jenny said. "Apparently Karim and *Friesner* have an ability to get around when they want to in pretty good style."
Jenny said he has spoken with *Friesner*, the last time was in July, and *Friesner* said he would retain counsel and participate in the litigation. But no entry of appearance was recorded in court files and the default judgment was entered because the defendants did not participate in the Oklahoma City case. "I haven't heard from him since," Jenny said. Jenny said he was told at one time that Karim had millions in two trust funds located in a numbered Swiss bank account, "but apparently that was not true." "I really don't have any reason to believe that he has any assets."
Jenny said it was his understanding that the $11 million American judgment will have to be converted to a Canadian judgment for Hy-Tek to collect. If the asset search turns up empty, then the judgment "is (only) worth the paper it's printed on," Jenny said.
Not long after this, in June 1990, Friesner was declared bankrupt - for the second time - in Canada with liabilities of $11,461,722.00 and assets worth..... $200.
The trail of his criminal activities then shows us that on the 25th of June in 1998, he was released from prison in the US, having finished a sentence related to the aforementioned case - which also explains where he got the money to fly around in Lear Jets: He stole it!
Leaves one wondering about those yachts, doesn't it?
UPDATE: Below you'll find some comments from one "Lawrence B. Heath, QC". A quick check revealed that Mr. Heath's first comment was actually posted by Monte Friesner himself. Subsequent comments were posted from his office. This wouldn't be the first time that Monte Friesner tries to save his ass by impersonating someone else. Earlier, he pretended to be "Shanita Ramdin" and most of his friends on FaceBook are fake too. It appears that Heath and Ramdin are names that really belong to other persons, which makes this a case of possible identity theft. Also, at least one of the board members of One World Financial/Carlyle Coutts appears to be a - believe it or not - dead person!
UPDATE 2: Monte Friesner, ahora en español @ HoraCero!
I like the way these guys always use names that can be confused for reputable organizations. Take Carlyle Coutts for example. A combined play on the Carlyle Group (an $85 billion private equity fund) and Coutts & Co Bank (an old and reputable UK based private bank) Of course, this Carlyle Coutts has very little to do with it’s namesakes.
Supposedly run by Colonel J. Douglas Crashley CD.; notice he has the same bogus title as Monte. He also refers to himself in some documents as a colonel and in some documents as just a lieutenant colonel.
Anyway, don’t you have to have some sort of license to offer financial services from or within the Republic of Panama?
Yes, you have to be licensed by any of the financial regulatory authorities, depending on the kind of service you offer.
It’s a well-known loophole can get a so-called ‘Class A’ local business license in Panama that allows you to carry on a payment processing or prepaid credit card business. In fact it is not a regulated business at all. It’s the same kind of license you need for a supermarket or a hair salon.
@Peter: Interesting, to say the least. Does that Class A license also cover financing, venture capital, loans – stuff like that? Also, one of his sites offers escrow account services – don’t you need a trust license for that?
In response to Lou Zar: J. Douglas Crashley CD was a decorated WW2 veteran and upon his demise the Queen sent an envoy to his funeral. CD stands for the Order of Canada which Crashley received for his unblemished achievements in business and society. It is not bogus and it is well deserved.
We owned the name Carlyle Coutts before the group Carlyle had their lunch at the Carlyle Hotel and thought it was a great name to use. In fact we won the Arbitration and the Rights to use that name.
I am a major shareholder in Pronto Cash, as well as other prople in Panama. Friesner is not, never has been a shareholder, director nor officer and does not manage, operate the firm. He did not and cannot order the web site down. The site is under construction by a design group in Panama.
Pronto Cash is a fully and legal licensed financial institution in Panama since 2006.
In all respect to Mr. Peter Mac : Panama is very regulated pertaining to payment processing and the issuance of any form of prepayment cards. In fact Panama has the highest rules & regulations administrated for the consumer protection.
I disagree with Mr. Mac on his point and statements and anyone can verify in Panama to the contrary. You need to be approved for various licenses prior to issuance of any form of cards. Pronto Cash does not issue prepaid cards and you or anyoen is welcoem to attend at the offices for your own satisfaction.
I am fully aware of Monte Friesner and his past which is history that he has fully compensated for. He has diligently worked for my partners and I and has protected our firms since his return to Canada in 1998. For the last 12 years he has proven to be an honest and forthright emplyee who is now using his knowledge and expertise for the better.
There has not been one complaint or point of discration as to his honesty for the last 12 years. However, upon my return from Panama last week I am aware that since June 2009 he has been plauged with demands of money for silence which he ahs refused to pay and which has been reported.
Panama is a safe and stable country and should be supported and not ripped up with false concepts.
Respectfully to Admin: Correction- None of our web site state that we offer any trust or escrow services and in fact there is a clear and defined to the conttrary statement. We do not and never have managed any form of money, securites, etc.
We own and manage coffee plantations in Panama, Honduras and other real estate in Panama.
Read cleary that we offer. Read clearly the CV for Crashley and I and conduct a due diligence. We have never had a parking ticket!
Mr. Heath, who are you trying to fool? The One World website is FULL of references to how you manage assets for clients in banks, give investment and other types of financial advice and a range of other activities that need a license in Panama which you have not.
WTF? Crashley’s dead?!? so you are propping up a dead, decorated WW2 vetran to ad credibility to your hi-jinx in Panama? nice one. You should appoint Gandhi and Mother Teresa to the board.
@Lawrence B. Heath QC
“Pronto Cash is a fully and legal licensed financial institution in Panama since 2006”
who is Pronto Cash licensed by?
The Superintendency of Banks of Panama
The Comision Nacional de Valores
Assets not cash Mr. Admin! Or is it realy the alter ego of Dr. Chuck you Farley. Pathetic for a journalist in using this manner of language & tactics that prints false and hate material.
Crashley’s tank division liberated Holland during WW2 and he would roll over in his grave with disgust.
@ Larry B, QC
I am sure Crashley would roll over in his grave in disgust if he saw that his good name is being used to add legitimacy to some shady scheme in Panama with connections to a convicted fraudster. What does his tank division liberating Holland have to do with which regulator in Panama licensed Pronto Cash? Answer the question Mr. Queen’s Counsel!
Is Pronto Cash licensed by the CNV or Superintendency of banks?
From the One world website:
“For the past years Colonel J. Douglas Crashley, Mr. Lawrence B. Heath QC and Carlyle Coutts Capital Corporation SA have been appointed, as Special Financial Advisors to numerous countries around the world and including major corporations, in which several Secured Capital Asset Portfolios and Creative Financing Portfolios have been structured.”
QUESTION: how has a dead guy been getting appointed as a special advisor etc. for the past years?
@Lawrence B. Heath QC
Larry, I see you were born in 1926 making you 84 years of age.
Congratulations sir, you are very internet savvy for an old fart. or could you really be Monte just posing as Lawrence B. Heath QC ? hmmmm…..
So look who also has a past in Europe – [snip]
first they say it is named after a hotel, and if you check on google, they said this:
“The founding members are Lawrence B. Heath QC, J. Douglas Crashley and Janet Carlyle Heath. The Heath family can be traced back to the Carlyle family name in England and the Crashley name can be traced back to the Coutts family in Ireland which was the origin of the company name.”
Can’t really tell what to believe.
Crashley passed away in 2004 and I definitley exist. Check with the Law Society of Upper Canada. No one is threatening you however, you have made fraudulet statements about Carlyle Coutts Capital Corporation and Pronto Cash and you are going to be held acoountable according to the laws of Panama.
I was born on August 10, 1926 and stil practise alw and work in business. Check out the Biltmore Commerce Center in Scottsdale, AZ, Piper Jaffery Tower in Minniapolis, Colmack in Utah and lots more proejcts that we built, funded and developed.
Google executives this morning in Europe were sentences to 6 months in prison in Italy for Invasion of Privacy which is an internation criminal activity when it is conducted a “Malice”.
Mr. Price, do not believe what you read in internet rubbish but conduct a due diligence or come to the office in Panama and check us out.
Like Noriegaville months ago, history soon will repeat.
Yes I am Lawrence B. Heath QC and yes I am alive and well and I am again coming to Panama March 8 for the celebration.
[Editor comment: Here is where Friesner shoots himself in the foot! If he’s “coming to Panama”, how can he be posting his comments from a cableonda account????]
Well I certainly don’t have time to read all that and was not specifically commenting on Pronto Cash which I know nothing about. Following is the kind of ‘Class A Financial Services’ license I was referring to. Issued by the Ministry of Commerce with no checks whatsoever. And displayed on a scammer’s website (one picked at random of various similar licenses they display):
They say they came out with the name even before the Carlyle Group. BUT
see this. Carlyle group shows on their website: The Carlyle Group
Established in 1987, The Carlyle Group is a private global investment firm that originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings.
On Carlyle-Coutts it says they were “stablished” on 2001.