Kimmage unleashes hell, counter-sues Verbruggen & McQuaid

[D-Queued]

"On Saturday, Paul Kimmage asked Aaron Brown for detailed statements showing the existence of the fund and how much was remaining in the fund. He was not given satisfactory answers by Aaron. Paul then asked his attorney to request that Aaron either provide access to the Kimmage Defense Fund or transfer the remaining funds into an account under the attorney's care and control. Aaron refused.''

Why would Kimmage want to know that?

In the business world, the request for fund balance and that moneys be put into escrow under a law firm acting as escrow agent are perfectly normal and done all the time.

Aside from potential tax implications and even budgeting implications, it is just better to have everything managed such that there can be no uncertainty as to the existence of and access to the funds.

Dave.

 

[ChewbaccaD]

Who would have informed him there being questions over the accounting when no one but one had actual access to the account?

Who said anyone informed him of anything. He and his attorney might have wanted to know the extent of the money left in the fund...you know, because they were the ones who would benefit from the funds...

 

[BroDeal]

Who would have informed him there being questions over the accounting when no one but one had actual access to the account?

If I was hiring lawyers, paying expenses, and planning future expenses with the belief that the costs would be paid by a defense fund then I would probably want to verify the funds actually exist and in what amount so I don't end up on the hook for the costs, but that is probably just me.

 

[Fearless Greg Lemond]

Who said anyone informed him of anything. He and his attorney might have wanted to know the extent of the money left in the fund...you know, because they were the ones who would benefit from the funds...

If I was hiring lawyers, paying expenses, and planning future expenses with the belief that the costs would be paid by a defense fund then I would probably want to verify the funds actually exist and in what amount so I don't end up on the hook for the costs, but that is probably just me.

Valid points, also D-qued's.

We'll see how this evolves.

 

[BroDeal]

I don't see why there should be any tax liability. He had $90K to work with. It would not cost much to set up a non-profit. That should have been one of the first orders of business.

That this guy is leaving, is being sued leads, and has given a weak explanation for the missing money leads me to suspect embezzlement involving more than just the Kimmage fund.

 

[VeloGirl]

I don't see why there should be any tax liability. He had $90K to work with. It would not cost much to set up a non-profit. That should have been one of the first orders of business.

That this guy is leaving, is being sued leads, and has given a weak explanation for the missing money leads me to suspect embezzlement involving more than just the Kimmage fund.

This. Shady. Shady.

 

[ChewbaccaD]

I don't see why there should be any tax liability. He had $90K to work with. It would not cost much to set up a non-profit. That should have been one of the first orders of business.

That this guy is leaving, is being sued leads, and has given a weak explanation for the missing money leads me to suspect embezzlement involving more than just the Kimmage fund.

Kimmage never had control of the funds. The guy who did is now in Spain.

 

[mewmewmew13]

If I was hiring lawyers, paying expenses, and planning future expenses with the belief that the costs would be paid by a defense fund then I would probably want to verify the funds actually exist and in what amount so I don't end up on the hook for the costs, but that is probably just me.

Sarcasm detector off scale

and...

Quote:
Originally Posted by Cloxxki
"Moved to Girona. You can't make this stuff up."

sad for those caught up in it...(Lesli and PaulK) but this is so true ^^^^

 

[ChewbaccaD]

Some people decided to do a good thing, and they did. Unfortunately, it seems one of them may have decided to do a bad thing. That thing will sully the reputation of people who don't deserve it.

My biggest problem is with Cyclingnews. They were in a rush to get the scoop, and posted a story missing some really important information. I have seen evidence of their sh!t journalism in the past, but this one is especially bad. They wanted to beat a competitor out with a story and they did that. Unfortunately, they are hurting good people's reputation by doing so..."journalism" in the age of twitter...

 

[northstar]

The Kimmage Fund raised $96,169. It appears the person in control of the fund, Aaron Brown, transferred the Defense Funds from a Paypal account to a Cyclismas business account and then to a separate account in his name. He provided a statement to Kimmage accounting for $64,000 and $10,000 is allegedly missing. I assume the difference of $22,169 was paid to Kimmage’s lawyers last December (there should be receipts for this).

So what happened to the ‘missing’ $10,000? Tax implications? Someone is paying his Girona rent with it (I hope not). Dissolving a partnership can be a nasty business. Is the Cyclismas partnership with Brown breaking up because of the alleged missing Kimmage funds or is there more going on in the background? Stressful time for all parties involved.

Brown needs to provide an accounting of the Kimmage Fund asap. It should not be that difficult. The longer he waits, the worse it looks.
.

 

[ChewbaccaD]

The Kimmage Fund raised $96,169. The person in control of the fund, Aaron Brown, transferred the Defense Funds from a Paypal account to a Cyclismas business account and then to a separate account in his name. He provided a statement to Kimmage accounting for $64,000 and $10,000 is allegedly missing. I assume the difference of $22,169 was paid to Kimmage’s lawyers last December (there should be receipts for this).

So what happened to the ‘missing’ $10,000? Tax implications? Someone is paying his Girona rent with it (I hope not). Dissolving a partnership can be a nasty business. Is the Cyclismas partnership with Brown breaking up because of the alleged missing Kimmage funds or is there more going on in the background? Stressful time for all parties involved.

Brown needs to provide an accounting of the Kimmage Fund asap. It should not be that difficult. The longer he waits, the worse it looks.

He certainly does that...

 

[MarkvW]

Be interested to see how cyclismas cover this story.

Jerks induce us to donate money and then point fingers at each other when the money goes undelivered.

Cyclismas, Lesli Cohen, and all of the jerks who solicited my money are dead to me unless that money is made good to Kimmage.

I may have to write this off as a cheap lesson learned.

 

[Digger]

Jerks induce us to donate money and then point fingers at each other when the money goes undelivered.

Cyclismas, Lesli Cohen, and all of the jerks who solicited my money are dead to me unless that money is made good to Kimmage.

I may have to write this off as a cheap lesson learned.

You got something to say, say it...i was one of the people who started that fund.

 

[hrotha]

Jerks induce us to donate money and then point fingers at each other when the money goes undelivered.

Cyclismas, Lesli Cohen, and all of the jerks who solicited my money are dead to me unless that money is made good to Kimmage.

I may have to write this off as a cheap lesson learned.

See that's the worst part. Even if everything is explained away convincingly, people won't trust something like this again.

 

[ChewbaccaD]

Jerks induce us to donate money and then point fingers at each other when the money goes undelivered.

Cyclismas, Lesli Cohen, and all of the jerks who solicited my money are dead to me unless that money is made good to Kimmage.

I may have to write this off as a cheap lesson learned.

You f*cking a$$hole. You reference by name the one person in this I know did nothing wrong. This is why CN's story is such freaking bullsh!t, and why you are the f*ckwith you always have been. Seriously, reading the story and SHE is the name you name?

You p!ss your pants over Birotte being questioned, yet you sully one person in a post when you know f*ck-all about what happened. Wow.

 

[thehog]

Some people decided to do a good thing, and they did. Unfortunately, it seems one of them may have decided to do a bad thing. That thing will sully the reputation of people who don't deserve it.

My biggest problem is with Cyclingnews. They were in a rush to get the scoop, and posted a story missing some really important information. I have seen evidence of their sh!t journalism in the past, but this one is especially bad. They wanted to beat a competitor out with a story and they did that. Unfortunately, they are hurting good people's reputation by doing so..."journalism" in the age of twitter...

Yes. The sad part is the message it sends.

The ethos of the group was transparency. They were questioning the transparency of the UCi.

Now this. I have deep sympathy for Paul and those assisting the set up of the fund.

One bad egg. Good for PK to tackle this one head on rather than keeping it under wraps.

 

[ChewbaccaD]

You got something to say, say it...i was one of the people who started that fund.

He's got nothing to say. He just wanted to throw sh!t at Lesli apparently. How and why he named her might seem mysterious, but it isn't.

 

[BroDeal]

Kimmage never had control of the funds. The guy who did is now in Spain.

That is who I am referring to.

 

[ChewbaccaD]

Jerks induce us to donate money and then point fingers at each other when the money goes undelivered.

Cyclismas, Lesli Cohen, and all of the jerks who solicited my money are dead to me unless that money is made good to Kimmage.

I may have to write this off as a cheap lesson learned.

Apparently, I cannot call you what everyone knows you are, but I will say that you naming Lesli out of all of the people was calculated cr@p. You're terrified of even suggesting Birotte might have had political motivations, but you sully a good person's name with no information.

And Cyclingnews helped further your goal by publishing a story filled with nothing but holes.

 

[ChewbaccaD]

That is who I am referring to.

And unfortunately, only one person is a US citizen...

 

[BroDeal]

Jerks induce us to donate money and then point fingers at each other when the money goes undelivered.

Cyclismas, Lesli Cohen, and all of the jerks who solicited my money are dead to me unless that money is made good to Kimmage.

I may have to write this off as a cheap lesson learned.

Why are you blaming Cohen for this? People get taken advantage of by their business partners every day. The signs are there for something more complicated than just Brown pocketing money from the Kimmage fund.

 

[Semper Fidelis]

You got something to say, say it...i was one of the people who started that fund.

Hey you are the one who threatned to fight someone who said anything. Guess MarkvW better watch out.

cool story how everyone piles on without knowing anything, even still no need to threaten to fight.

All of this for a fish hack. I still am left wondering why the account was left or set up in the USA for a fish hack from Ireland.

Dude live in Spain now?

 

[ChewbaccaD]

Why are you blaming Cohen for this? People get taken advantage of by their business partners every day. The signs are there for something more complicated than just Brown pocketing money from the Kimmage fund.

His intention for naming on lone person in the post was calculated as is everything with him. This is one of those times that I wish people like him had to say things like that in person.

 

[BroDeal]

All of this for a fish hack. I still am left wondering why the account was left or set up in the USA for a fish hack from Ireland.

Dude live in Spain now?

Don't worry. I am sure the Spanish legal system will set things right.

 

[Digger]

Hey you are the one who threatned to fight someone who said anything. Guess MarkvW better watch out.

cool story how everyone piles on without knowing anything, even still no need to threaten to fight.

All of this for a fish hack. I still am left wondering why the account was left or set up in the USA for a fish hack from Ireland.

Dude live in Spain now?

Fish hack?