Excitement is not part of my day. Yes, many have looked forward to today in anticipation, but whatever the court may decide, it is not going to be a happy end to our dilemma; no celebratory outcome. Even if the company is finally sequestrated, there is still some way to go, and the question for some time will be: "how much will I get back". If the company is placed under Judicial Management, well, you'll probably have a few more gray hairs when the finish-line is finally reached. That is not so much my concern though, as I have few hairs left, and my beard is as grey as can be already.
As I have said in the past, my wife and I have essentially accepted the loss of money, but matters are just not that simple. A few have made many promises to many; they have signed contracts ensuring the return of money. Even after it was clear that their undertakings were unsustainable, these humans have continued to broadcast all kinds of unbelievabilities (heh-heh the spell checker doesn't like that one). Not only have they demonstrated their own naivety, but they have tried to make fools of the 4000 investors. Perhaps we were foolish, some would say and I still have something to say about that when the opportunity arises - perhaps when the dust has settled and the horizon is back in view. The fact that investors believed what was told them, promised and demonstrated to them, and thereby acted in their own interest, for their own benefit, may be described as foolish by those who know more, better, and generally have an exceptionally high IQ, but it still does not give anybody cart blanch to take others for a seriously detrimental ride. Add to that that the promises were supported, given credibility and sanctioned by institutions such as CIPRO, DTI, FSB, NCC, and SAVCA (and possibly a few others that fell below the radar), the situation is elevated to societal fraud where a smaller part of group reality are victimized by a much larger part of the reality of planet earth. Naturally, as we have seen, these institutions hide behind rules, regulations and the law as well as anonymous silence - also characteristics imbued to them by society, so that is our own fault perhaps. When I was a bit younger, the was a song about "silence is golden", I have come to the conclusion that silence is an ass. In silence truths can't be told, responsibilities cannot be accept, and in silence one can die a slow (or fast) death with a knife in your back.
The law, yes the law ...
As a result the pinnacle of the iniquitous situation is Edwafin, and what has now emerged to be the Famous four plus one (Verona seems to be some kind of groupie - however she does upset the symmetry - let's face it fivesome sounds awkward). Ironically, some of the earlier directors have left the stage, hands bloodied and consciences heavily tainted. (By the way, anonymous has also provided us with the First name of Klynsmith. It is Robert or just old Bob for short.)
Of course there is the law. Yes, the law ...
Anonymous submitted a comment this morning mentioning the possibility of a class action, and I must admit the thought has struck me some time ago already. For those not in the know, here is my non-specialist understanding of the process: a group of people who have been wronged by another person, or group of persons, collectively employ legal resources to sue the perpetrators. They share the cost, if any, but also benefit collectively from whatever the results of such a case may be. This has become very popular in the USA where fat people collectively have sued hamburger joints for selling grease, or where smokers have sued cigarette companies for causing their lungs to become a darker shade of brown. It is strange but it is true - like my inherent tendency to be decent and still refer to Stapleton as Mr.
The idea is that if enough of the investors can stand together, they may sue the directors of Edwafin (and possibly others), singularly and/or collectively for causing the predicament we now find ourselves in - perhaps to recover money (if you are very optimistic) but possibly more so to satisfy our retributive lust.
I am prepared to set the ball rolling by trying to find out who might want to participate in such a class action. There are many steps to be taken though, and we have to be certain of what we will be suing for, who we will sue, and why we will be suing. There are possibly many aspects I haven't thought of and that will be the domain of the legal people involved.
So what I propose to do is provide everybody with an email address to which you can send a note expressing your interest in participating. This does not mean that you commit yourself, but are only interested in the possibility of such action. However, you would need to provide your name and email address (or other method of contacting you), and if you like a cellphone number (for sms's), so that we can correspond with you and tell you about any progress. Your details will be kept safe, confidential, not divulged to anybody, and should you at any time decide to withdraw from the enquiry, your information will be immediately removed without questions.
What would be helpful, is if you could also provide us with your views and suggestion regarding the procedures and any other aspect of the matter. Keep in mind the more investors that we can get to participate, the better the spread of the costs. There are many other benefits I can think off, but before we get there, we first have to decide if it is going to be worth our while.
If there are any investors out there that are contemplating, or have already started, a similar action, this may be the time to stand together as others may be interested to participate in your action.
Should this effort get off the ground I undertake to set up another blog exclusively for this purpose, with only private access to those who would like to participate in the class action. Thus away from prying eyes.
The email address is edwafinclass@chromatique.com.
We'll see.
As I have said in the past, my wife and I have essentially accepted the loss of money, but matters are just not that simple. A few have made many promises to many; they have signed contracts ensuring the return of money. Even after it was clear that their undertakings were unsustainable, these humans have continued to broadcast all kinds of unbelievabilities (heh-heh the spell checker doesn't like that one). Not only have they demonstrated their own naivety, but they have tried to make fools of the 4000 investors. Perhaps we were foolish, some would say and I still have something to say about that when the opportunity arises - perhaps when the dust has settled and the horizon is back in view. The fact that investors believed what was told them, promised and demonstrated to them, and thereby acted in their own interest, for their own benefit, may be described as foolish by those who know more, better, and generally have an exceptionally high IQ, but it still does not give anybody cart blanch to take others for a seriously detrimental ride. Add to that that the promises were supported, given credibility and sanctioned by institutions such as CIPRO, DTI, FSB, NCC, and SAVCA (and possibly a few others that fell below the radar), the situation is elevated to societal fraud where a smaller part of group reality are victimized by a much larger part of the reality of planet earth. Naturally, as we have seen, these institutions hide behind rules, regulations and the law as well as anonymous silence - also characteristics imbued to them by society, so that is our own fault perhaps. When I was a bit younger, the was a song about "silence is golden", I have come to the conclusion that silence is an ass. In silence truths can't be told, responsibilities cannot be accept, and in silence one can die a slow (or fast) death with a knife in your back.
The law, yes the law ...
As a result the pinnacle of the iniquitous situation is Edwafin, and what has now emerged to be the Famous four plus one (Verona seems to be some kind of groupie - however she does upset the symmetry - let's face it fivesome sounds awkward). Ironically, some of the earlier directors have left the stage, hands bloodied and consciences heavily tainted. (By the way, anonymous has also provided us with the First name of Klynsmith. It is Robert or just old Bob for short.)
Of course there is the law. Yes, the law ...
Anonymous submitted a comment this morning mentioning the possibility of a class action, and I must admit the thought has struck me some time ago already. For those not in the know, here is my non-specialist understanding of the process: a group of people who have been wronged by another person, or group of persons, collectively employ legal resources to sue the perpetrators. They share the cost, if any, but also benefit collectively from whatever the results of such a case may be. This has become very popular in the USA where fat people collectively have sued hamburger joints for selling grease, or where smokers have sued cigarette companies for causing their lungs to become a darker shade of brown. It is strange but it is true - like my inherent tendency to be decent and still refer to Stapleton as Mr.
The idea is that if enough of the investors can stand together, they may sue the directors of Edwafin (and possibly others), singularly and/or collectively for causing the predicament we now find ourselves in - perhaps to recover money (if you are very optimistic) but possibly more so to satisfy our retributive lust.
I am prepared to set the ball rolling by trying to find out who might want to participate in such a class action. There are many steps to be taken though, and we have to be certain of what we will be suing for, who we will sue, and why we will be suing. There are possibly many aspects I haven't thought of and that will be the domain of the legal people involved.
So what I propose to do is provide everybody with an email address to which you can send a note expressing your interest in participating. This does not mean that you commit yourself, but are only interested in the possibility of such action. However, you would need to provide your name and email address (or other method of contacting you), and if you like a cellphone number (for sms's), so that we can correspond with you and tell you about any progress. Your details will be kept safe, confidential, not divulged to anybody, and should you at any time decide to withdraw from the enquiry, your information will be immediately removed without questions.
What would be helpful, is if you could also provide us with your views and suggestion regarding the procedures and any other aspect of the matter. Keep in mind the more investors that we can get to participate, the better the spread of the costs. There are many other benefits I can think off, but before we get there, we first have to decide if it is going to be worth our while.
If there are any investors out there that are contemplating, or have already started, a similar action, this may be the time to stand together as others may be interested to participate in your action.
Should this effort get off the ground I undertake to set up another blog exclusively for this purpose, with only private access to those who would like to participate in the class action. Thus away from prying eyes.
The email address is edwafinclass@chromatique.com.
We'll see.
Posts
4 comments:
Hi Mario,
I know that this blog was initially intended for the wronged investors, but ex-employees have also been lied to and led down the dingey cellar stairs by the "famous flabulous four" (oh yes, there were more - but as you mentioned they have slipped back into the snake hole they came out of) There are many of us who at our initial job interviews were led to believe the company was a profitable and successful one, and there were super promises of greatness,learning and growth, as well as fantastic career benefits "forging the way into a new frontier", one that many left secure jobs for, and put our qualifications, licences,reputations and very careers on the line for, and woke up a year or so later - retrenched, unpaid and unceremoniously kicked out of the offices. Please do belive that there are many former employees who are not you enemy - many of us sat in silence disgusted at your situations, and sickeningly aware of the fact that it would happen to us too! Yet as we sat, monitored by CCTV from every angle, our incoming and outgoing e-mails opened and read with a fine tooth comb, our telephone conversations tapped into, and sneaky little Stapleton spies everywhere; many of us sat back stumped and wondered "How the hell did I end up here, and how do I get out?" And yet meeting after meeting we prayed together, were assured that "God is on our side" and greatness sits just over the horizon - hang in there we have almost weathered this storm; and " No, we are not considering any retrenchments" Those who apposed and voiced their uneasy consciences were retrenched for "Operational Requirement" reasons or bullied into resigning for fear of having the deepest dark secrets of their personal lives revealed to all; and most on leaving were awarded the same respect as you and the other investors. We diligently log onto your site, hearts aching and minds boggled at what has transpired. Keep your ear to the ground - we are approaching from the rear - and reach a hand out to all the investors in support. What happened was WRONG, and should NOT go unpunished.
I believe this lesson has been bought to us to test and stretch and strengthen us in many ways. To the former employees - find your voice and the you that existed before Edwafin - the battle is not over, and together we can reclaim our dignity, self-respect and self-confidence we lost along the way. And hopefully, eventually, actually get paid what they owe us.
If there are any Edwafin employees who would like to put forward their side of the story in the media and not be "tarred" with the same brush I'd love to hear from you.
Marc Ashton
Fin24.com
marca@fin24.com
082-561-1585
To anonymous number one - I have no idea who you are, but I was standing with you through this as I too found myself in the same situation and I too was dumped on the side walk because I raised my concerns. The staff who didnt form part of the directorship were all victimised, scrutinised and had their spirits and self esteem broken. I too watch this site daily - I want to see the wheel turn - But Marc & Mario believe Anonymous when they say that the ex employees and hell, probably the last few that are still there were broken down mentally and spiritually like you would not believe.
Regardless of any position held by an employee at Edwafin, from director to manager, from clerk to tea lady, NO-ONE had any authority within the company.Everything came from the TOP!
It is entirely incorrect to state that ALL directors were excluded from scrutiny and victimisation.
There are several current and ex-directors, I know, whose lives have also been ravaged through merely doing their jobs as they believed them to be.
The staff never stood in isolation from the directors.
You should be casting your allegations further upward !
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