For all you Bob Hipple fans, this finding and judgment of the Tenth Circuit Court of Appeals makes for hilarious reading. Especially, the part where Hipple, serving as his own attorney, gets hoisted by his own petard. The judge in the case gives every one of Hipple's arguments -- in Hipple's appeal of a court judgment against him for $3,502,337 in damages -- an abrasive and sound legal thrashing. For a lawyer, this was high-order humiliation.
Hipple is a serial bad penny well known to SEC as they prosecuted him for fraud for his iWorld activities. This case preceded iWorld and involves the firm Merrill Scott where Hipple once served as president/ceo and director.
Hipple was kept well secreted as Secretary of IEquity Corp. during the March 2013 SKTO/ Medical Greens, Inc. / $30 million in contracts scamola. A couple of shell consulting firms (CF Consulting and Indian River Financial Services) were used to camouflage his direct involvement.
http://ca10.washburnlaw.edu/cases/2007/11/07-4078.pdf
Excerpts
A. Merrill Scott and Estate Planning Institute
From August 15, 2001, to October 15, 2001, Mr. Hipple served on Merrill Scott’s board of directors and as its President and Chief Executive Officer. At the time, Merrill Scott was on the brink of insolvency. Although it marketed itself as a global financial services provider for wealthy individuals, the Securities and Exchange Commission later charged that Merrill Scott was actually part of an elaborate ponzi scheme orchestrated by its founder and owner, Patrick M. Brody. One aspect of Merrill Scott’s business was legitimate and profitable, however. It encompassed a group of individuals who provided fee-based tax and financial planning services through a related entity called Estate Planning Institute (“EPI”).
....
The court therefore granted summary judgment on the Receiver’s breach of fiduciary duty and fraudulent conveyance claims and declined to reach the issue of whether Mr. Hipple could also be found liable for conversion. In a subsequent order, dated June 2, 2005, the court determined that Mr. Hipple was personally liable to Merrill Scott for damages in the amount of $3,502,337.
...
We AFFIRM the district court’s denial of Mr. Hipple’s motion to dismiss for lack of jurisdiction. With respect to the portion of its August 20, 2004, order granting summary judgment to the Receiver, we VACATE and REMAND for reconsideration in light of the views expressed in this order and judgment. On remand, the district court is to analyze the factors set forth in Fed. R. Civ. P. 19 as applicable to Mr. Hipple’s argument that EPI is an indispensable party to this action. We AFFIRM the district court’s order striking Mr. Hipple’s motion for summary judgment.
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Hipple is a serial bad penny well known to SEC as they prosecuted him for fraud for his iWorld activities. This case preceded iWorld and involves the firm Merrill Scott where Hipple once served as president/ceo and director.
Hipple was kept well secreted as Secretary of IEquity Corp. during the March 2013 SKTO/ Medical Greens, Inc. / $30 million in contracts scamola. A couple of shell consulting firms (CF Consulting and Indian River Financial Services) were used to camouflage his direct involvement.
http://ca10.washburnlaw.edu/cases/2007/11/07-4078.pdf
Excerpts
A. Merrill Scott and Estate Planning Institute
From August 15, 2001, to October 15, 2001, Mr. Hipple served on Merrill Scott’s board of directors and as its President and Chief Executive Officer. At the time, Merrill Scott was on the brink of insolvency. Although it marketed itself as a global financial services provider for wealthy individuals, the Securities and Exchange Commission later charged that Merrill Scott was actually part of an elaborate ponzi scheme orchestrated by its founder and owner, Patrick M. Brody. One aspect of Merrill Scott’s business was legitimate and profitable, however. It encompassed a group of individuals who provided fee-based tax and financial planning services through a related entity called Estate Planning Institute (“EPI”).
....
The court therefore granted summary judgment on the Receiver’s breach of fiduciary duty and fraudulent conveyance claims and declined to reach the issue of whether Mr. Hipple could also be found liable for conversion. In a subsequent order, dated June 2, 2005, the court determined that Mr. Hipple was personally liable to Merrill Scott for damages in the amount of $3,502,337.
...
We AFFIRM the district court’s denial of Mr. Hipple’s motion to dismiss for lack of jurisdiction. With respect to the portion of its August 20, 2004, order granting summary judgment to the Receiver, we VACATE and REMAND for reconsideration in light of the views expressed in this order and judgment. On remand, the district court is to analyze the factors set forth in Fed. R. Civ. P. 19 as applicable to Mr. Hipple’s argument that EPI is an indispensable party to this action. We AFFIRM the district court’s order striking Mr. Hipple’s motion for summary judgment.
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