martedì 16 agosto 2011

Major US Sports Nutrition Retailer Muscle Master Foreclosed on by Bank

More and more information keeps piling up on the Muscle Master/Nick Chunias bank forclosure situation. What you’re about to read is from a confidential source, who knows about the inner workings of this case, but who needs to remain anonymous [he's not anonymous to me, just you].

I’ve known him for several years, and wouldn’t be publishing his claims unless I believe him (and if I believe him, then so should you). The only notes from me will be within [brackets] where I feel explanations are necessary:

Involuntary bankruptcy allows the previous 90 days of transactions to be reversed. Meaning the sale of MM [Muscle Master]could be undone. Finn [Muscle Master/Nick Chunias' accountant] claims that the company was for sale with no offers. I have proof that is not the case. Not only that, there is proof the company sold for less than other offers that were submitted. This whole deal REAKS of major corruption.

If you purchased a company that someone ran into the ground the way Nick did, why would you then hire him after the fact? [This is exactly what the new owner did.] I imagine a deal was brokered behind closed doors for a greatly reduced amount, in exchange, nick would be hired on after the fact. It is my belief Nick intentionally sabotaged other offers in an effort to preserve himself post sale. None of the potential buyers would have hired him. I imagine having 5-6 kids [as Nick Chunias has] is quite the incentive to make sure you have a job after you ran your company into the ground. There is a high probability that outside council will be brought in to review all of the transactions for the past 90 days involving MM. If they find things that look out of place, they can go back even further. This will not bode well for MM.

Nessun commento:

Posta un commento