WHERE OH WHERE HAS THE $48 MILLION GONE.OH WHERE OH WHERE CAN IT BE. MORE PLACID INVESTORS AND LM2 SCAMS

 AS WE MENTIONED THE UBC INTERNATIONAL CRIMINAL SYNDICATES LM2 AND PLACID INVESTORS AUDIT CAME OUT

LETS HAVE SOME FUN SHALL WE

 HEY KENDALL AND FRIENDS FOLLOW THE BOUNCING BALL 

THE VANISHING $48 MILLION

 The UBC is playing games with LM2 filings and audits to hide significant losses of UBC funds by Placid Investors. As of Dec 31, 2020, Placid Investors owed the UBC an astonishing $100,895,779! The Dec 31, 2021, consolidated financial statement prepared by Calibre CPA (federal subpoena in N.J.) shows only $52,407,736 million being owed to the UBC by Placid Investors. However, Placid Investors once again lost millions in 2021. So don’t be fooled, Placid Investors did not repay $48 million dollars of debt to the UBC. Accounting games have simply decreased the liability by $48 million dollars and increased the equity and/or retained earnings. By structuring this move as a “dividend in kind” on the financial statement, the UBC is essentially writing off the $48 million dollars owed to us, the members, by Placid Investors. Calibre CPA makes no additional comments and fails to explain the transaction in the statement’s notes. The $48 million dollar shift is by far the largest change in the financial statement; It clearly deserves further explanation or special mention in the notes. To an untrained eye, the statement could lead members to believe that the $48 million was repaid, not written off. The only other explanation would be that an unknown entity paid off the $48 million dollars for Placid Investors. We all know that isn’t possible as the UBC owns Placid. See the attached documents.You will see the amount owed to the UBC on two of the pictures; one representing the 2020 debt, and the other representing the 2021 debt. The documents shows how the auditors played games to hide the write off as an increase to retained earnings/equity. The lies and shuffling of the deck against rank-in-file members continues.

WRITE UP COURTESY OF JON GOULD

  FOR THE RECORD THE PLACID AUDIT WAS REVIEWED  BY A PROFESSIONAL AUDITOR WHO ALSO DECLARED WTF!!!

MORE OF THE BS UBC CRIMINAL SYNDICATES "WHOSE ON FIRST" BS

 A REVIEW OF THE LM2 SHOWS NO REPAYMENT OF  $48,488,043

PPP LOAN FRAUD

UBC/PLACID owned Jobsite Steel received this PPP loan in May 2020.By Nov 2020 the factory was closed meaning they started closing in September .So in 5 months they used all this to pay wages???

• Recipient
  JOBSITE STEEL MANUFACTURING, LLC
  Location

  LENOIR CITY, TN

  Loan Status

  Forgiven as of May 13, 2021

  Loan Amount

  $1,310,000

  Date Approved

  May 18, 2020

THEY LISTED THE PPP LOAN ON THE PLACID AUDIT

In May 2020, the Company received a loan in the amount of $1,310,000 under the
Paycheck Protection Program (PPP) established as part of the Coronavirus Aid, Relief
and Economic Security CARES Act). PPP loans and accrued interest are forgivable
after a covered period weeks) as long as the borrower maintains its payroll
levels and uses the proceeds for eligible purposes, primarily payroll, benefits, rent
and utilities. The initially recorded a deferred revenue during the year ended
December 31, Management of the Company used $1,178,992 of the proceeds for
purposes consistent the PPP requirements prior to Jobsite Steel Manufacturing, LLC
ceasing returned $131,008. During the year ended December 31, 2021,
when obligation was legally released, in accordance with the guidance of

recognizing revenue, $1,178,992 was recognized.

• UBC/PLACID OWNED JOBSITE Hospitality received this PPP loan in May 2020
  
   
  Recipient
  JOBSITE HOSPITALITY LLC
  Location

  LAS VEGAS, NV

  Loan Status

  Fully Disbursed

  Loan Amount

  $1,488,155

  Date Approved

  May 1, 2020

BUT NO MENTION OF THE JOBSITE HOSPITALITY LOAN IN THE AUDIT

 

THESE LOANS WERE SUPPOSED TO BE FOR PAYROLL

BUT SEE THE ATTACHED  

  Excell document showing they declared wages on the LM2 Schedule 12  in 2020 which were supposed to be paid with these PPP loans.

 THE 2021 EXCEL ATTACHMENT SHOWS THEY DECLARED WAGES FOR THE JOBSITE HOSPITALITY HOTEL EMPLOYEES ON SCHEDULE 12 OF THE LM2

SEE THE ENTIRE EXCEL IN PDF 

 

YET THE PLACID AUDIT DECLARES TOTAL WAGES PAID DROPPED FROM $1.27 MILLION TO $10,084 FOR 2021.WHERE DID THE MONEY COME FROM.WHY WERE THESE WAGES NOT LISTED ON THE AUDIT

 

THE  2021 UBC LM2 SHOWS THE INTERNATIONAL GAVE JOBSITE HOSPITALITY $4 MILLION LISTED AS "TRAINING OPERATIONS". IN 2020 THEY GAVE THEM  $3 MILLION.

(1) WHAT TRAINING (2)WHY WOULD UBC MEMBERS DUES BE USED TO TRAIN HOTEL EMPLOYEES (3)WHERE IS THE LISTING FOR THE WAGES ON EITHER PLACID AUDIT(4)WHY IS A NOT FOR PROFIT DIVERTING DUES MONEY TO PAY WAGES OR TRAINING(COUGH COUGH)FOR HOTEL EMPLOYEES AT A FOR PROFIT HOTEL

OH WHERE OH WHERE DID THE ODOM DEBT AND THE JOBSITE STEEL LOSSES GO

 WHERE IS THE ACCOUNTING FOR THE JOBSITE STEEL SCAM

THEY CLOSED THE FACTORY.SOLD THE LAND 

THE COLD ROLL MACHINES AND OTHER MACHINERY IS GONE.

STOCK AND MATERIALS ARE GONE

WHERE ARE THE RECORDS

 HOW WAS THE PROPERTY AT 5901 INDUSTRIAL PARK DRIVE, LENIOR TENNESSEE LISTED AS BEING OWNED BY A UBC ENTITY IN NEW JERSEY WITH THE ADDRESS OF 247 NEW JERSEY AVE, ABSECON NJ.THE CPA OFFICE OF UBC CRONIE TERRENCE MOONEY

 

THE PROPERTY IS LISTED AS BEING SOLD IN JULY 2021 FOR $2 MILLION.WHERE IS THE $2 MILLION ON THE PLACID AUDIT

 

ACCORDING TO THE LOUDON COUNTY TENN ASSESSOR THE BUYER WAS 

 JBLM WAREHOUSE LLC
1500 DUNCAN RD
KNOXVILLE, TN 37919

 

 THE SELLER WAS JOBSITE STEEL LLC NJ(MOONEY)AND JOBSITE STEEL PROPERTIES LLC 

SO WHO IS JOBSITE STEEL PROPERTIES LLC

 

WHERE IS THE ACCOUNTING FOR THE $22,817, 602  DEBT FROM ODOM CONSTRUCTION FUNNELED THROUGH THE PLACID INVESTORS SCAM. THIS IS $22 MILLION PLUS OF MEMBERS DUES MONEY DIRTY DOUG GAVE TO THE ODY ODOMS OF JOBSITE STEEL FAME.

 

HOW ABOUT 
 The Company entered into a loan agreement with Odom Construction Systems OCS) in the amount of $6.9 million in 2015. In addition, the Company provided $3.54 and $1.475 million,respectively, in additional working capital funding to OCS during 2016 and 2015. In 2017, the Company provided OCS with capital funding intended to absolve a line of credit guaranteed by UBC. In connection with this transaction, the Company entered into another loan agreement with OCS in the amount of $3.62 million. Additionally, 2017, the Company converted all outstanding accounts receivable between itself and OCS into a note receivable totaling $7.282 million.

 

MORE TO COME