and the “independent” board toes the line
This week Ed “Edzo” Kelly and Frank “Frankie” Lima got busy publishing a letter signed by the “independent board” and posting a video regarding the pending federal lawsuit involving the IAFF Financial Corporation.
They referred to the
baseless allegations of Jack Hughes, a disgruntled former
IAFF-FC employee who was let go due to incompetence and a documented history of substandard performance — including an inability to get the IAFF-FC’s advisory firm licensed in a timely manner.
Here’s the problem with that bit of fiction.
Hughes isn’t claiming discrimination, failure to promote or some similar cause of action. He is voicing ethical concerns including the IAFF’s insistence on vendors paying up front to get their foot in the door.
Natixis and Franklin Templeton [financial institutions] baulked at Becker’s “pay to play” requirement as these entities did not feel that it was something that they could ethically do. After informing Becker of this, Becker abruptly indicated on May 22, 2022, that he was placing the model portfolios on hold “indefinitely” as without the “pay to play” payments the “juice [was] simply not worth the squeeze.”
So when Edzo and Frankie and the independent board members charge Hughes with incompetence and a documented history of substandard performance what they are really referring to is his staunch regard for ethics.
(May I please be in the courtroom when Hughes’ attorney refers to these rascals as Edzo and Frankie in front of a jury? They sound like made men in the mafia.)
The rascals go on to state
The IAFF is NOT under federal investigation.
The IAFF-FC is NOT under federal investigation.
Brother Frame’s assertion that either entity is under federal investigation is
The SEC subpoena he referenced was served only on Jack Hughes and ordered the documents Hughes had produced in his lawsuit alleging wrongful termination.
This is all a distinction without an actual difference.
The SEC is gathering information on the IAFF-FC through Hughes because of his employment there and because he made them aware of the situation.
By the way, don’t forget that Hughes says Becker viewed IAFF members as “unsophisticated.”
As do Edzo, Frankie and the independent board. They’re all shoveling bullshit — but is anybody buying it?
Was I the only one to notice that neither in the letter nor the video did they mention the sudden disappearance of IAFF chief operating officer Kurt Becker?
That’s the way they do it in the Mafia — here one second and gone the next.