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Newsflash: Okun 1031 Tax Group Victims Sue Former IXG Founders

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Services for Real Estate Pros with Inner Architect

The plot continues to thicken as swindled investors scramble to recover what few pennies exist from their embezzled 1031 exchange funds, many representing investor life savings, in the fallen Ed Okun 1031 Tax Group "Ponzi" scheme.

A concerned "citizen" sent the following link to a June 20, 2008 Denver Business Journal story "Ex-clients sue IXG founders in 1031 Tax Group Bankruptcy." According to writer Renee McGaw ex-Okun employees Daniel and Shirley McCabe are the subjects of the lawsuit and controversy.

The McCabes were the original owners of the Investment Exchange Group (IXG) in Denver until Okun purchased the business in August of 2006 through his 1031 Tax Group business.

In the Denver Business Journal article Jeffrey Cohen, attorney for Denver based victims of the McCabes and Okun, stated:

"We believe that the McCabes misused and mishandled funds that were under their control"

Main Source

http://www.bizjournals.com/denver/stories/2008/06/23/story3.html

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Anonymous
Dan Mansolillo

The McCabe's and their associates are part of a small group of the most ethical, highest caliber people I have met in my long real estate carreer. They were simply too trusting of the scoundrel of the century and are undoubtably incapable of intentionally hurting any living creature. Their integrity and character are without question the highest attainable.

Dan Mansolillo

Cranston, Rhode Island

Jun 21, 2008 01:00 AM
#1
Dean Guadagni
Inner Architect - San Rafael, CA

Hi Dan- Thank you for adding balance to this subject. I have the #1 blog in the blogosphere on the subject of 1031 scandals primarily Ed Okun. I was tipped to the beginning of the Okun "Ponzi" scheme by a title rep in San Jose regarding 1031 Advance in San Jose.

Okun is a con man and he is incarcerated.

Don't shoot the messenger please. I am merely following the major news agencies reporting on this story. The US Trustee in charge of recovering Okun victims' monies is Gerald McHale. My blog http://deansguide.wordpress.com is the only blog certified by the Dept of Justice to provide govt court date info for the victims.

I know nothing of the McCabes other than what the Denver Business Journal wrote about them and IXG. In the past 48hrs I have had tipster send "rumors" that I can not substantiate so they will remain just that rumors.

I hope you are right about the McCabes and I hope you are right that they would not do anything to willfully participate with Okun. Keep us posted if you hear anything.

Jun 21, 2008 03:54 AM
Dean Guadagni
Inner Architect - San Rafael, CA

Dan- One last request. What do you make of, attorney for the IXG victims, Jeffrey Cohen's statement:

"We believe that the McCabes misused and mishandled funds that were under their control"

Jun 21, 2008 04:14 AM
Dean Guadagni
Inner Architect - San Rafael, CA

Bill- Thank you for adding to this thread. I hope that the McCabe's are victims and not part of the problem. I trust your judgement-again I will hold good thoughts for them and the victims that Okun hurt.

dean

Jun 22, 2008 05:59 AM
Anonymous
Dan Mansolillo

Any update on the McCabe's?

Dan Mansolillo

Oct 02, 2009 07:47 AM
#6
Dean Guadagni
Inner Architect - San Rafael, CA

The McCabe's are no where to be found--since Madoff was exposed even the Okun tragedies have gone without much press coverage.

Oct 02, 2009 09:07 AM
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Dean Guadagni is the Business Director for Inner Architect a social media marketing agency. We help businesses, corporations, and entrepreneurs understand how to utilize Web 2.0 and social media tools to deliver their value message. We perform diagnostics, create social media marketing plans, implement strategies, measure analytic information, as well as provide retainer based ongoing maintenance. We utilize direct marketing targeted strategies to measure our clients' message effectiveness and their ongoing engagement with their audience of consumers. This blog is an extension of http://Innerarchitect.com and my business self help real estate blog http://deansguide.wordpress.com. I write about business self help, networking, marketing, and branding. Interspersed within this core content are the techniques and tips on how to use social media like Linkedin and Twitter as well as your blog as the hub of your efforts to gain exposure and recognition with your target audience(s).

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