Joop Bollen, the director of South Dakota's now-scrutinized EB-5 visa investment program, has a proclivity for murky incorporation. Bollen formed separate legal entities to handle each of the EB-5 loan pools that his state-contracted firm solicited for South Dakota businesses. These entities acted like banks selling securities, but didn't follow state banking or federal securities rules. Bollen has a couple of oddly named corporations, JOPY and BOPA, with no clear mission or Web presence.
My casual Sunday reading comes upon another corporate oddity in Bollen's portfolio. On June 7, 2012, Joop Bollen incorporated four new domestic LLCs in Aberdeen:
(I did not find The Hague, Tilburg, or Haarlem in the corporate database.)
Bollen created each of these corporations through Danne, Inc., a domestic business he incorporated in 1997 and merged with his own PABO, Inc., in 1999. Bollen signed each incorporating document as president of Danne, but each lists "Danne, Inc." at 1201 North Main Street, Aberdeen, as the organizer and registered agent, not Bollen personally. Aberdeen Attorney Rory King filed each request. Bollen submitted each corporation's 2013 report on May 19.
I've got to wonder: For what four separate business purposes could Bollen have needed these additional mystery corporations? And could one of them be a paper-shredding company?
If you are a "(not-a-bank)", do you have to adhere to the same kind of record-keeping requirements as would a real bank?
Everybody seems to be missing the real crooks. Yes, all these guys are in murky waters and are guilty as sin, but of what legally as the fine print if the law reads will probably never be seen due to the underside if this table stretches from Pierre to huron to averdeen. The real crooks are rounds, benda, song, Palmer and wagner. Helwig only wanted a 500 per day slaughter facility. Rounds and associates pushed him into the bigger plant, saying and promising an additional 60 million in eb-5 funding would be available. Helwig then was instructed to hire a ceo and cfo in order to get to get the first 37 million he was previously promised. The board of directors selected for helwig by state personnel put Roger Dreyer in charge of this personnel search. Palmer who had been fired from every job he had ever had in the meat industry and never a job above the level of salesman was selected for hellwig as ceo. Palmer had never designed, managed, built, or started a plant in his life or been part of one. He was working for the boyscouts of america when dreyer found his puppy. Amazing as it may sound, palmer hired Roger Dreyer back as an consultant at a $1000 per day after Dreyer hired Palmer. This was a nice $90, 000 pay back to Dreyer. And dreyer did not know shit either and was eventually ran off by more knowledgable team members. Palmer then worked around the back side if hellwig
With song. Hellwig was then more or less ousted. Every penny spent by hellwig is accounted for on purchase orders. The crime is how can song, palmer and wagner knowingly be in charge and create such a mess and then feel they can file for bankruptcy screwing over hundreds of people. Bankruptcy is for unforeseen situations. They hired nobody with experience, spent millions foolishly that everybody in the industry questioned and made many other mistakes. This situation was created by very poor management and was not unforseen. They knew every time they spent a nickle that it woukd not be paid back. The only way the chinese and Koreans put their money in this was that they were lied too, otherwise even the dumbest woukd not have, these are all guys who had made millions in their life, not idiots for sure. So here we are now song palmer and wagner walk away, for sure some money in hand and yet stoke millions knowingly. Last I heard that is theft, what about fidicery duties? What about stealing? Here are the crooks!!
does everyone realize that after governor rounds made the big push for Dennis to increase the size of the plantthat governor rounds visited South Dakota beef plant town of Aberdeen 14 times and never once visited the beef plant. This should be a crime in itself and the questionshould be why?????
Yet the primary concern of South Dakota's legislature will again probably be:
* Opposing health care reform.
* Finding more state tax revenues as giveaways to wealthy corporations.
* Eliminating access to reproductive health care.
* Saving marriage from homosexuals.
* Arming more school janitors and keeping guns in the hands of crazy people.
* Stupid resolutions declaring ________ as the official state ______.
All part of Joop's corporate netherworld.
Its also amazibg to me that lawyers and company owners go over seas and selk a lame bill of goods to get o eopk e to invest in a job creating business and it was not to create jobs it was to pay off debt and then when the koreans and chinise want to sue because of this that they were lied to a south Dakota judge throws it out and then a few weeks later another judge says sorry, your not getting any of your mobey back. In reality the company was broke when those people gave their money. Guess that is ok though, for heaven sakes we would not want to prosecute lawyers, governors and the same oeopke that hold the rest of us accountable.
Allen, you need to visit with the media, as you seem to have a lot of interesting information on EB-5. Cory - thanks for keeping EB5 in the headlines.
So, where the hell is Johnson? Allen brings up some very good points about responsibility in this caper. There should be some kind of accounting on this or is all the evidence being destroyed while we wait? drip drip drip indeed.
Wouldn't you like to have a look at checking and other bank accounts of these corporations formed by Joop?
That would give us some real answers.
Everybody is usually under the assumption it was dennis that messed it up. Dennis only got in trouble when the state renigged on their promuse of the additional 60 million. Sveen and his cronnies got the money sent to the turkey plant instead. Dennis got the phone call that was more or less just said, sorry. We are giving the eb-5 money to the turkey plant and even this was a lie because it was used to form a new company that paid off debt for the existing dakota provisions did not create one job, probably saved a large number of jobs but did not create them as northern beef would have. But I suppose as being an invite to all the rounds functions, a lawyer for eb-5 and ceo and part owner of dakota provisions it was easy to sway eb-5 money towards him and the turkey plant. Look up dakota gobblers or somethinglike that. Eb-5 money entirely. The turkey plant is still afliat but it would only take an extra tick climbing on one end of the ship to tip it over. The colony members themselves are starting to defect and selling their turkeys to other buyers. Here is another example of someone not knowing shit about a business and makes themselves a ceo and then hires a uncapable plant manager to help him run it. 8 long years later they don't even have a marketing program or a brand. This will akso fsil, its just taking brother ignorance a little longer to find the juglar but only because of the eb-5 money, otherwise itcwould be another failure at this time.
going dutch will probably involve the I 29 5000 cow dairy scenario that the cronies in Pierre want to get going. Just another example of the Nazis in state government getting their way......
Republican Nazi's in Pierre?
Difficult question. I think we do not have enough information to give a clear judgement about this. However, it does looks suspicious though.
Laura, to what question are you referring?
Sometimes it is so easy to see when people don't care about facts or the truth. They prefer a fantasy story. Unfortunately, your fiction isn't that interesting.
Troy, I'd love to hear the facts about Bollen's multiple corporations.
I don't think I've ever seen a more partisan place than Pierre SD. Even people that haven't worked there in years, like Troy, are in denial that his old buddies could do any wrong. I guess politics does that to a person. There is such a fascinating loyalty that is alive in politics, that maybe psychologically, people are afraid to break that grip? Troy is in MN, and out of the government sector, so I assume he could not possibly have any ideas as to the facts of EB-5. Allen, I believe, is up in Aberdeen, and I would like to hear more of what he knows. Cory - meet Allen!
Jenny says where some are. Jerry asks where Johnson is. Johnson is safe and sound and warm right now(-;
Indeed Johnson is even happy - and would answer to "Mr. Happy."
Troy, what is the fiction? That NBP was poorly conceived and mangaged? That it filed bankruptcy and millions were lost? That benda was out to line his pockets? That GOED yanked bollens contract and the program is under federal investigation? What of Allen's statements are fiction? If these are all fictions, then I guess it is not very interesting. There are many things we don't know yet, but most of the above is fact not fiction.
The real fictions are those phony corporations concocted from South Dakota corporation law so that money laundering and tax evasion may be done legally by those comprise the "financial industry." People who question the ethics and honesty in South Dakota are accused of believing in fictions and conspiracy theories when the fraud squad, aka economic development organization, gets caught violating the public trust. Note in the above post on Mayor Kooiker the letter a law firm sent to him advising him that exercising his responsibility as a public official is out of place and meddlesome. Rather than advise their clients to provide "accurate information," in other words, not lie, the law firm tries to intimidate the mayor by accusing him of wrongful action when he works to protect the public from fraud. That protective attitude toward the fraudulent and incompetent is where South Dakota gets its ratings as having a great business climate.
Mr. Jones???? Fantasy Story?? Uuumm. Well let me tell you what there buckwheat, your ignorance of what really has went on is way out there now. There is nothing I wrote that is not true. I have only comnented a few times due to I am a very involved person and feel that's best. But it is good at times I feel that people do know the truth to keep people focused on the real players in this situation. I do not have to fantasize about the truth, I just tell it as it is.