From Top to Bottom

By Wilbur Shapiro

Damon Clark could truly be called the Yo-Yo man. From award winning stock broker, to homeless man, to President of the United States, Damon surely deserves that title. He led our country for two terms and made us aware of and avoided the invisible monster waiting to crush us.

• Language: English
• Publisher: Grovehouse Press Llc
• Release date: Dec 31, 2022
• ISBN: 9781957776613

Book preview

1.png

FROM TOP

TO

BOTTOM

By

Wilbur Shapiro

Copyright © by Wilbur Shapiro

All rights reserved. This book or parts thereof may not be reproduced in any form, stored in any retrieval system, or transmitted in any form by any means—electronic, mechanical, photocopy, recording, or otherwise—without prior written permission of the publisher, except as provided by United States of America copyright law.

Inside Info

Damon Clark was ecstatic. The stock market was going through the roof and he was raking in the dough as a broker for Market Enterprises. He and his beautiful wife Angelica were socially active within the organization and very popular with the upper echelon. Tonight, Damon was to receive an award for being the broker with the highest yearly sales. Maurice Haughton, the company president rang his glass with his fork to obtain everyone’s attention. It is my distinct pleasure to present this sales award to Damon Clark. It has been a wonderful year for our company and Damon helped considerably. After presenting the award, he continued, Now let’s celebrate the good times with a delicious meal. Dinner was served, and Damon and Angelica conversed with the big wigs at the main table.

Sitting next to Damon at the table was Vice President. Ambrose Smith, who engaged Damon in conversation. Damon, I have some information that you might be interested in. I am friendly with some officers of Genron Corporation. They have indicated to me that some big things are about to happen shortly. Damon replied, I’ve stayed away from Genron. They use a very complicated accounting system, and I must confess, I have not yet figured it out. Ambrose responded. Yes, I know, but they employ the premiere auditing agency, Robinson Auditing. I trust them to keep everything straight. Damon, do what you have to, I am just passing info that was given to me.

After dinner, the conversation with Ambrose stayed on Damon’s mind he wasn’t sure if he should take any action. He did not think what was told to him constituted inside information as the so called big event was not defined. He did not want to miss out on a big money deal although he was not sure what it was. He surmised that Genron was going to take over a big money maker in the energy business. He surely would have liked better definition.

That night he discussed the situation with Angelica. She commented, If it is a chance to move into a luxury class, don’t miss the opportunity. Right now, you are just a broker and it would be nice to advance. Do what you have to.

For the next several days, Damon was plagued with indecision. He did his best to investigate Genron as much as possible, but he still came away with confusing information. He could not get a solid handle on the company. However, the thought about making a killing intrigued him. He could give up being a broker and convert to investor and live the life of luxury with Angelica. The thought of untold wealth absorbed him, and he decided to make his move. He sold off half of his stock portfolio and withdrew half of his bank account cash and purchased 10,000 shares of Enron at 60 dollars per share. He then waited patiently for the big event that would make him a multi-millionaire.

The Debacle

Jaques Chiron had been with The Securities and Exchange Commission for over ten years. His job was to identify illegal practice by corporations. He was completely befuddled by Genron. He could not make sense of the information Genron provided. Genron had claimed takeovers. Most of these companies were overseas and exempt from U.S. government regulations. Jaques had enough of unsubstantiated claims and decided to employ his own auditors to find out what was going on. He solicited the auditing firm of Kingsley and Macron, well known for their expertise. The principal auditor of that group was Michael Kincaid.

Kincaid made contact with the Genron auditors and asked to see the takeover papers of some companies that Genron had taken over. He was rebuffed at every turn. There were no profit and loss or balance sheets for the companies claimed by Genron. Further investigation revealed that these so called take over companies never existed. Meanwhile billions of dollars had been squandered by the company. They were trying to make up their losses by enticing investors. In other words, they were engaging in a Ponzi scheme of tremendous proportions. When reporting back, Jaques, could not believe what he was hearing. How could Genron commit overt fraud under the noses of The Securities and Exchange Commission? How many people are going to get hurt when the revelation is published? As Jaques contemplated his plans, he received a phone call. Jaques, this is Kenneth Layman, CEO of Genron. Our strategy is working, and we are receiving tremendous amounts of money from investors. I beseech you to let this condition play out as we then can provide more normal benefits to our investors. I would be pleased to show you our detailed plans. Jaques responded in irritating tones, Genron has committed enormous fraud, and you expect me to participate. You are out of your mind. I suggest you hire a good lawyer.

The following day Jaques announced a very important press conference. The conference was scheduled at 2:00PM in the main auditorium of the Securities and Exchange Commission building in New York City. The event was unusual, and it drew an overflow crowd of newspaper and magazine reporters. Jaques appeared precisely at 2:00 PM and began his presentation. "I have summoned you all here to announce that The Genron Corporation has committed monumental fraud against their stockholders and the general public. We have conducted a very thorough investigation of the company and have determined the following:

• Their claims of buying ownership of prosperous foreign companies is not true. The companies claimed never existed.

• Genron invested in many failed companies incurring enormous debt.

• Management and their auditor are being charged with fraud and trying to cover up with a Ponzi scheme.

• The company has been delisted on the stock exchange and is presently in bankruptcy.

• Legal action against the company and its auditors is in process

Thank you for attending. There will be no questions taken at this time." Jaques then walked off the stage. The news of Genron’s demise spread rapidly via newspaper, TV and internet. The fraud was a major blow to the investment world and the commission was forced to embark on a campaign to assure stockholders that listed companies adhered to all legal requirements and that Genron was an isolated incident.

When Damon Clark heard the news, he became sick to his stomach and made a bee line to the nearest men’s room, where he threw up. Damon had invested heavily in Genron and half of his wealth had been wiped out. Furthermore, he had recommended to his clientele to invest in Genron, which put his position at Market Enterprises in jeopardy. It was not long after that Damon received his discharge from Market Enterprises along with a vice president, Ambrose Smith. The company wanted to demonstrate to their clientele that anyone involved with Genron could not be part of their organization and that they only would broker legitimate securities.

That evening Damon told his wife Angelica the bad news. They lost half of their net worth in Genron speculation and he was terminated from his job. She did not say anything but displayed serious disappointment. Damon continued, I will do my best to find another position. I suggest that you should also look around. With your looks you should be able to find a position in sales or as a receptionist. In any event, I expect to be very busy for several weeks trying to find a suitable position.

Angelica

Damon and Angelica had been married for five years. They both had private reasons, besides love, for the union. Damon wanted a beautiful princess to show to the executive class. Angelica considered the union a step forward to the life of luxury she desired. Neither had siblings or strong family ties. Up to now the