Edwabond

I was going to do this entry yesterday, but too many things happened and I discovered that my time-reality was out of sync with my to-do-reality.
Yesterday, I put both this blog and the two groups/forums, EdwafinForum (Google) and EdwafinGroup (Facebook) back on the public map. This took some doing, as I needed to add some email addresses as well of those who have interested witnesses of the debacle.
Then, as it finally dawned on me that merely having friendly, amicable discussions with CEO, Stapleton, was not going to get me anywhere, I asked my attorney to proceed with legal measures. this is what I don't understand about the situation: given the legally binding arrangements that Edwafin has with its Debenture holders, its management blithely puts its nose up in the air, and ignores the whole issue. Yes, they talk about this and that, and make peculiar threats, treat old ladies with disdain, pay lawyers and advocates (if they do it for free, then I apologize) to help them in their bid to hoodwink their investors, make many, many, many promises, but solidly refuse to address and discuss the real issues at stake: the investment capital of investors.

Of course, I landed in this situation, some would say, "out of pure greed". Possibly, but where does greed begin; at 5% interest, 10%, 12%, 18% or 25% even? Yes, I know, there are those clever human beings who know exactly who the greedy ones are. They are the lucky ones, because in their next life they will proceed directly to a heavenly place, and will not have to return to this planet (unfortunately old Vic will miss saying, "I told you so").

Anyway, having created for myself the Archetype of the devil or Satan incarnate, I suppose I have to deal with it.
This brings us to Edwabond.
I'm sorry, they have removed all the photographs from the Edwafin site, so unfortunately I can't show you a picture of Carole Gardiner, CEO of Edwabond. Are we on the most wanted list, perhaps?

Interlude
Ms Gardiner, also excels as a denialist. At a moment in history, when I was still relatively naive about the management of Edwafin, I had an opportunity to speak to the lady. In fact, I was connected to her phone when I called to ask for a form, that Patrick had insisted I complete before he would return my money - I had emailed and phoned before, but the form did not emerge from the dark depths of Edwafin. OK. I got to speak to Ms Gardiner, and explained what I needed. She firmly denied that I was entitled to have my money back, and insisted that I wait the full five years, and she knew nothing about a form of any kind. The Matron has spoken, the discussion was going nowhere and she would email me.
Now, this lady, once an agent of Edwafin/Edwabond and now a CEO of its money capitol, did not even know about the contents of the debenture prospectus! My word, aren't we confused - of course that left an impression. And I thought the circus was becoming extinct.

Let's continue.
Patrick repeatedly tells us that Edwafin is not a Financial Services company. That may be so (if it makes any difference at all), but Edwafin owns Edwabond, which clearly functions as a financial services company. Edwabond collects the money for Edwafin from investors and markets the company's debentures. By Jove, it is even registered with the FSB (Financial Services Board - a government institution that is meant to regulate such companies)! They are also registered with the SAVCA and the NCC, both of which sound rather impressive, but I suspect are also acronyms for empty office space somewhere in the Republic of SA.) Like a dissenting father, Patrick simply ignores the existence of Edwabond when speaking of his company's function in times of stress. Yet, when it comes to collecting money, Edwabond is firmly part of Edwafin's organogram. They even have their own preferred consultants or advisors, and they are listed below. Note that some of them even have "financial advisor" in their business names.

Again we are presented with smoke and mirrors with little or no attempt to address the real matter that is of concern. Provide some kind of convincing and documented argument or announcement to indicate that those who want their money back will receive it back, if not now, then perhaps at a firm future date not too long in the distance. Untill that happens, you all remain under suspicion. As I said on the forum this morning, don't make us part of the problem, try to make us part of the solution.


Preferred Advisors to Edwabond are found here.