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Tuesday, August 7, 2018

Was it or wasn't it a Ponzi Scheme?

Blogger Comments:  There are at least three people who know if the Title Mart Scheme Franklin, Ziaja, and cousin Steenson concocted was a Ponzi scheme ensuring a few got paid while other credible investors did not.   Based on Greg Steenson's spreadsheets and handwritten notes we calculated what some investors may have received from the scheme.  You decide.  We calculated what we thought the gang of three (Franklin, Ziaja,  and Steenson) stood to gain in the scheme, not to mention their family, friends, and co-workers.  See our worksheet below:

Looking Back 2/12/17 - Sheriff Ana Franklin, Greg Steenson, and Steven Ziaja's Ponzi Scheme

Sheriff Ana Franklin, Greg Steenson, and Steven Ziaja's Ponzi Scheme
We are going to lay out a Ponzi scheme between Franklin, Steenson, and Ziaja that reveals how they screwed the pooch.  The information we have is complicated but reflects that the Ponzi scheme may have started long before Franklin invested $150,000.00 of inmate food funds into the Title Marts.  The information we have reflects the Ponzi scheme that lured some of the investors in or was it the hunting club in Tennessee.  Could it be that Steven Ziaja, Greg Steenson, and Sheriff Ana Franklin offered the investors (their family and friends) a slice of Steven Ziaja’s hunting club?  Some of the investors that invested almost $100,000.00 dollars seemed to be out in the cold.  So where did all the cash come from?

We are not accountants but we believe Sheriff Franklin has been very busy.  Based on the information we have we are sharing what we believe happened June – August 2015.  Starting with the $150,000.00 investment in June Franklin made a profit of $67,500.00, it appears that she then rolled the initial investment and profit of $217,000.00 into the July Ponzi scheme totaling $315,375.00.  Franklin then rolled the 315,375.00 for a profit of $141,919 into the Ponzi scheme for a total of $457,294.00.  It appears that Franklin received at least three payouts made to Franklin.

Franklin’s investment seems to be clear based on the information we have.  Franklin’s investment perks were 45% interest with a 30-day return.  When Franklin received the $217,000.00, a check was then written to Ziaja for $165,375.00.  The $165,375.00 came back to Franklin in cash.  Franklin then re-invested the 150,000 plus the $165,000.00 for a total of $315,375.00.  The rest is history.

Date                 Name                Investment        Interest Rate                 Profit                Total
6/5/2015            Ana Franklin      $150,000.00      45%                              $67,500.00        $217,500.00
7/7/2015            Ana Franklin      $217,000.00      45%                              $97,875.00        $315,375.00
8/8/2015            Ana Franklin      $315,375.00      45%                              $141,919.00      $457,294.00

The plot thickens and it appears that Steven Ziaja’s $497,186.00 plus personal (whatever that means) for three months of screwing people.  A large some of the money appears to have been provided to him in cash.

Greg Steenson’s June – August take was $113,571.00 plus personal (whatever that means).


T. Pressley’s investment profit is as follows:

1.  Investment profit number one was 45% profit paid out within 30 days.
2.  Investment profit number two was 45% profit paid out within 30 days.
3.  Investment profit number three was 22% profit paid out within 30 days.
Pressley received $11,200 profit for his investments.  Ziaja and Steenson split profit for Pressley’s investment were $11,586.00.  It appears that the profit should have been around 33,000.00.  Sounds like Ziaja and Steenson were deep in the pockets of all the investors except for themselves and Sheriff Ana Franklin.

The scenario for the rest of the investors is the same as for Pressley.

Additional Investors were as follows:

N. Hudson, Reggie’s Mother (L. Chaffin), John Venegoni, M. Reese, C. Wilder, R. Sharp (Sheriff Ana Franklin’s stepbrother), Bones Wilson, Blake Robinson.  Some investors invested one time, some invested two times, and some invested three times.  Their percent rate ranged from 45%, 22%, and 11%.

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