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bull123

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Reply with quote  #1 
As a person, did anyone here know CM ... meet with him?

Did he seem like someone who could do this?

I heard comments that he was a "heck of a nice guy"

just not sure from who ... maybe on the about.com site ...

if the alleged reports are true, he sure has scattered the money here, there and everywhere

he'll have a happy retirement it seems ...
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JG

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Reply with quote  #2 
Quote:
Originally Posted by bull123
As a person, did anyone here know CM ... meet with him?

Did he seem like someone who could do this?

I heard comments that he was a "heck of a nice guy"

just not sure from who ... maybe on the about.com site ...

if the alleged reports are true, he sure has scattered the money here, there and everywhere

he'll have a happy retirement it seems ...


The only person I know of that has met him is LoneStarHog, who had lunch with him at least once around 2008.

That said, I believe that Charles is a nice, well-intentioned guy -- but completely delusional about his business. Even after he decided to shut down his company that has been insolvent for many years, facing possible criminal charges, he authorizes himself a $30K severance package! I think that pretty much sums it up. I don't know if he simply wanted the business to last forever, for the gig never to end, or if he was really hoping for that magic fairy to come by and hand the company $33M.

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ChevyRacer

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Reply with quote  #3 
<<As a person, did anyone here know CM ... meet with him? Did he seem like someone who could do this?>>

Do you mean was he a nice thief or a mean thief?

I completely disagree with JG...I think Chad McAllister is a typically narcissistic, sociopathic scam artist. He was taking customer money for YEARS knowing full well that he wasn't buying the product that his customers thought he was buying. He has NO excuses, other than the usual excuses given by con artists. F*ck him--track him down like the dog he is and throw him in prison, where he belongs...
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tboll

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Reply with quote  #4 
I gotta wonder if Chevy might be right.  He really milked that "transferring metals to vault in DE" for a long time and yet the amount of metal that they transferred could have fit into the glove compartment of my Honda.
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napolm

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Reply with quote  #5 
None of this passes the smell test . I am a big looser and consider myself a fool . How could they be loosing money for many year's and not 1 disgruntelted insider pass info to customer's which would cause a huge product draw way back  .  CM stole our money
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JG

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Reply with quote  #6 
And one other thing to consider is that it appears that there were some other people who were involved to some extent. There's the vault manager suspected of stealing metal, a prior CEO who obviously had to know what was going on, and several people in a position to both know what was going on and who may have had money go to fund companies of theirs.
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mindmelter

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Reply with quote  #7 

I agree with ChevyRacer. I think that he may have had good intentions in the beginning, but his inflated ego would not allow him to admit his business failed. He used the fake nice guy persona to steal as much as possible from his customers.

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jkline

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Reply with quote  #8 
I never met the man but I guess I was a good enough customer to warrant xmas gifts for a number of years:  usually cookbooks, with a nice handwritten message.  In the mid 2000's he seemed like a guy that was honest and trying to build up his business.

I still can't believe what he's done.  When you have a failing business model, you change it or get out, instead of treating people like they are nothing more than his personal ATM.  
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bull123

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Reply with quote  #9 
It seems things just got out of control for Charles

deep down, he is probably a kind hearted guy just looking out for his family

my hunch is he was waiting for gold and silver prices to really crater, so then he could go out and buy all of our product for pennies on the dollar

so the intent all along was to fill the orders, just at much lower price points

in a normal world ... jail time ... but these days ... he will probably be free and clear
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harley_52

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Reply with quote  #10 
I think all the information you need to make the determination about the kind of person is Charles McAllister can be found by realizing that he had known for several years his business was using illegal smoke and mirrors to continue the facade of "normalcy" when, earlier this year he wrote the following posts....

    http://forum.bulliondirect.com/viewtopic.php?f=9&t=4340

    http://forum.bulliondirect.com/viewtopic.php?f=9&t=4465

In another post (which I can't now find) he promised to start shipping in a week, or so, and get caught up soon.

All this while he KNEW he wasn't going to be filling any more orders and that he had no way of reimbursing people for metal he <wasn't> storing for them and who would soon find out the depth of his treachery.

Charles McAllister was NOT a nice guy.


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bull123

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Reply with quote  #11 
He bought one of the writers above a cookbook

even signed it ... as a Christmas gift

what the heck else do you expect from him?

in my opinion, CM should be sitting in a jail cell right now ...

same with Tulving ...

if you take money and don't deliver product ... it's stealing ...

like someone that walks into a 7-11 and pockets a candy bar

what is going on with this country where white collar crime gets you a slap on the wrist, but recreational drug use gets you prison?
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ChevyRacer

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Reply with quote  #12 
Quote:
Originally Posted by bull123
what is going on with this country where white collar crime gets you a slap on the wrist, but recreational drug use gets you prison?


We live in an oligarchy, that's what's going on...
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bull123

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Reply with quote  #13 
I guess it is pretty obvious now the Nucleo patent and IP and trading platform are truly worth ZERO

Software used for an alleged ponzi ... that tends to have a very negative smell to it

does anyone really think there will be money coming back to them courtesy of the bankruptcy court and lawyers and other leeches?

these $850 an hour lawyers are designed to suck up every last penny

and the answer is: CM was not a nice guy ... he was a prick ...
1
nobody

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Reply with quote  #14 
For all we know, CM was just a small fish in a big pond full of scum, and authorities may well be looking to see who else reacts before they act - one of their primary metrics is going to be conviction rates, far more so than arrests (as it should be).

Until someone at the FBI is willing to talk to me about it (thus indicating no active investigation), I'm going to assume they've got just as much google-fu as me, and the ability to subpoena everything and are doing what they feel is appropriate at this time.

Remember, in the Tulving case, it took months of complaints before they acted, and when they did, it was mostly to seize assets so they couldn't be used to mount a defense.

In this case, by the time we all screamed "wolf", the assets were gone - arresting quickly wouldn't have done us much good if they hadn't yet built a case (and this one seems very likely to have more than one person involved, so they may be waiting to be sure they have all the interesting names first to see who'll be easiest to leverage with a plea bargain for cooperation)

And in the Madoff case - they're still paying 'creditors' 7 years later, but it's not by trying to reconstitute the business.

And as long as we're listing cases that look like they'll be short and sweet, there's also Stanford
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bull123

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Reply with quote  #15 
Or ... the authorities might not give a damn

and CM skates free

which is very likely what is going to happen

you even have folks up here talking about cookbooks and what a nice guy he is ...

in the old days ... he would be sitting in prison awaiting trial ... kept away from the normal population

for all we know he could be vacationing in Dubai right now

that money went somewhere ... it still exists ...

probably burried in someones backyard ... just waiting for this all to blow over.
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