Newsflash-Deadline To Dispute Ed Okun 1031 Tax Group Recovery “Fee Applications” May 29: The Money Leaking Out Of Your Pocket

One of the most difficult realities in the Ed Okun rip off and scandal of the 1031 Tax Group, beyond how this guy could get away with it for so long, is the amount of money (debtor recovery funds) victims will pay for the privilege of attempting to recover their own monies.

If you are a debtor (owed monies in this case) and you wish to dispute the amount of legal fees, administrative fees, and every other Tom-Dick-n’ Harry with his collective hand in your pocket fees being sought, then NOW is the time for you to speak up.

Deadline To Dispute

According to US Trustee Gerald McHale’s website story “Order Setting New Fee App Hearing on 6/11/2008” your cut off to dispute these costs:

ORDERED, that any party wishing to object to these fee applications must file an objection by Thursday, May 29, 2008 at 5:00 p.m.”

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US Bankruptcy Judge Glenn Denies Okun’s “Indentured Servitude” Plea: Trustee McHale and 1031 Tax Group Victims Supported

“A bankruptcy judge has denied a bid by 1031 Tax Group owner Edward Okun to back out of his deal to sell his collection of luxury items to repay some of the $150 million owed to creditors of his failed real estate tax shelter” according to Associated Press reporter Patrick Fitzgerald in his article “1031 Tax Group Owner Ed Okun Loses Court Bid to Keep Toys.”

In deansguide’s article “Okun Attempting To Terminate Asset Transfer Agreement According To 1031 Tax Group Victim: “Indentured Servitude” Never Looked This Lucrative” Okun’s characterization of the ATA, a document he signed off on months earlier, as “Indentured Servitude” provides further evidence of this man’s motivations and utter disregard for the victims he directly effects everyday.

Consequently Okun was fighting for the necessities in life such as his four (4) cars:

1. Rolls Royce Phantom
2. Bentley Continental
3. Lamborghini Gallardo
4. Porsche 911

What will the rest of this ongoing saga bring us? Only time will tell but as it stands now it has been a long and sad trail to recovering settlement monies that will never fully be restored to their rightful owners.