Sunday, June 20, 2010

Loan Shark Hosts Dold Funder

I confess. I'm appalled at the people who are allowed to finance political campaigns in America.


 Screen Capture from TeamAmerica
On Saturday, Jeffrey Brincat opened his mansion in Lake Forest for "fiesta" for Bob Dold, candidate for Congress from the 10th District. Brincat, in case that name doesn't ring a bell, is part of a loan-sharking family that has been offering ultra-high-interest pay day loans to servicemen for almost 20 years. He currently owns Consumer Financial Services Corp., one of whose locations is a quick cab ride from Great Lakes naval base in North Chicago.

In the meantime, Brincat's father, John, is serving 10 years in the federal penitentiary for what the Tribune called "a two-billion book-cooking scheme" that federal prosecutors called "the biggest accounting fraud in the history of northern Illinois." That was for shenanigans at Mercury Finance Co., a "subprime" auto loan shark almost exclusively preying on military folks around the country, which imploded in January 1997, taking its shareholders with it.

USA Today reported that payday loan companies typically operate near military installations ...
As many as one in five members of the armed services are being preyed on by loan centers set up near military bases that can charge cash-strapped military families interest of 400% or more, a new Pentagon report has found.
Pentagon sees risk in troops' loan debt
Lest someone say that the sins of the father should not be visited on the son, Jeffrey Brincat, the host of the fundraiser, was Vice President, Administration, of Mercury until its bitter end. He started Consumer Financial Services Corp., a look-alike payday loan brand, shortly thereafter. And far from losing all his money or being required to pay shareholders back, Jeffrey Brincat owns a $4 million mansion in Lake Forest (now in a trust controlled by his wife), from which they pour largess upon Republicans like Dold. ($4800 so far this year, before the funder.)

Despite his father's setbacks, it's so nice for Republicans that Jeff Brincat landed on his feet.

Here's the thing, though. Robert Dold professes to be a strong supporter of the military. Isn't there something just a bit fishy about the fact that Brincat, who seems to be making a good living off of the vulnerabilities of our service men and women, is also a strong supporter and contributor to Dold's campaign effort?

38 comments:

Anonymous said...

So, Dan Seals does a fundraiser in the home of a felon (Jan Shakowski's husband Robert Cramer) and Lake County Eye has no problems. But, Dold holds a fundraiser in the home of the son of felon and all of a sudden the objective Lake County Eye starts blogging.

Seriously, at least Ellen of the 10th is honest about her political bias and objectives.

This race will be about the economy, debt and jobs. No matter how many blogging trolls Seals has on his payroll.

Anonymous said...

YOU have hit a new low. Jeffrey Brincat is a Marine Vet with a great record. YOU have not provided one shred of anything credible except innuendo and your own feeble attempt to hide who you are and what you represent. Your first poster has it right. Bob Creamer went to Jail for the check kiting scheme against SENIORS who could ill afford what he did to them while smiling all the way to his bank account. Jan signed the tax returns yet she somehow escaped joining that felon husband in his jail cell. You fail to mention that both Jan and Creamer not only host for Seals, they also advise and consult that campaign and others on the Democrat side.
So you like to smear people without one shred of evidence. You're quite the provider of yellow journalism. Glad few know or care who you are or what you say.

Anonymous said...

I confess; this is one of the most irresponsible articles ever written in the history of blogging. You call a man/husband and father of five (also a Marine Veteran) a criminal (Loan Shark)without a SHRED of support in your article.

These kinds of attacks are exactly why many good people stay away from politics. I hope you get shut down over your irresposible labeling of Mr. Brincat, who is a private citizen and NOT a public figure.

I occasionally perused your site previously; rest assured I will NEVER visit it again.

Anonymous said...

In addition to his involvement with Bob Creamer Dan Seals also had a former attorney, Cynthia Marie Alexander, who went to prison for laundering a cocaine dealer's profits, host a fundraiser for him. (Daily Herald 2/16/2006) Seals said he didn't have any qualms about Alexander's involvement after he was informed about her criminal history.

Anonymous said...

SERIOUSLY, only a site like this could attack a family event and veterans in the same article.

This is horrible. Attacking a private citizen and calling him a criminal when his father had something happen 13 years ago is the worst form of a dirty trick.

Like the blogger above, I hope you and your site get sued into the ground over your irresponsible accusations of Mr. Brincat. I probably won't know about it because I'll never read your sire again.

Anonymous said...

As a lifelong Waukegan resident and Independant voter, I find your blog incredibly distasteful. To attack a man's family and charachter because of something his father did is the worst kind of dirty deed. Your calling Mr. Brincat and his family "Loan Sharks" is calling him a criminal and I'm sure if he had any criminal record you would have cited it.

This being the case, we are left with you calling an innocent man (and Veteran) a criminal. I thought I couldn't be shocked anymore but you attacking a man and his family is reprehensible. I think it is also illegal to call someone a Loan Shark (criminal) if they have not been convicted of such.

How sad that you choose to slander a man and his family. Especially as reputable a one as Mr. Brincat seems to be.

Anonymous said...

Phony Republican outrage is so delicious.

Anonymous said...

I have supported Dan Seals and will most likely continue to do so in this campaign. I do not feel your attck blogging does anyone any good.

You turn more people against our cause rather than help us. You should tout Dan's positive programs and ideas instead of letting people infer that his supporters are bitter and small minded.

If you have nothing else to do; come to the campaign and help us.

Anonymous said...

I agree with the above, you make the Seals camp look bitter and desparate to accuse and attack private citizens.

In these difficult times, people are angry and looking for meaningful answers, not the usual low tricks and attck ads. You are seriously hurting Democrats with your bitterness and cynical approach.

We will lose votes and the election with these tactics. Wise up. Let's give people some hope!!

Anonymous said...

As a democrat......LEAVE THIS ALONE. PLEASE!! We have enough to do without pointing fingers at people who AREN'T even candidates. People are frustrated because they don't have REAL answers. You are attacking without purpose and it looks desperate.

Do we really need to sink to this??

redtail said...

I find it interesting the level of partisan screeching (anonymously!) here about this. This is a story about Jeff Brincat, who is involved in a shady business, and was involved in a shadier business, and his support of Bob Dold. Both father and son were involved in Mercury Finance, which preyed on soldiers, but only the father went to jail. Perhaps he cut a deal with prosecutors to keep his son out, who knows?

There is no question: Consumer Financial Services Corp., owned by Jeffrey Brincat, preys on soldiers! And that policians (and you guys) see nothing wrong with accepting contributions from him. I will accept the Creamer and Alexander comparisons, who I also think should keep away from politics. But just because Democrats do it, does that make it right?

I find it even more disturbing that Jeff Brincat is a veteran, which I knew but did not bring up.

Full disclosure: I was one of those financially ruined by the collapse of Mercury, which is why I knew the Brincat name so well. I know exactly how these companies operate and I am ashamed of myself for investing in such a low-life business. This was not at all a partisan attack. It is an -- oh my god how can any politician accept money from this person or his company and hold his head up?

Joe said...

Why do I get the feeling that all those anonymous statements are from the same person?

Joe said...

Correction: all the anonymous posts from 7:18 - 12:36.

redtail said...

FYI, is calling someone a "loan shark" any different from calling him a "mob banker"? Inquiring minds, having now seen the updated video posted on Team America, want to know.

And, no, neither term is libelous or Team America and half the Republican Party would be in jail by now.

Anonymous said...

Redtail, you make some pretty severe accusations here.

"Loan Shark" implies criminal activity and you called Mr. Brincat a loan shark from a loan sharking family.

"Shady business" is accusatory and in your last post you imply that a possible deal was cut to keep someone out of jail THIRTEEN years ago yet you offer no proof or substance other than he worked at the Company with (in their last disclosure) over 2,000 other employees.

If his business s legally conducted I would offer that it may not be something you like but that doesn't make it shady any more than a pawn shop is shady. If you don't like their pricing, model, etc. it doesn't make it wrong; just don't patronize them.

So ......you have Bob Dold accepting money and help from a district resident who has never been accused of a crime, is a veteran, and owns a business that you don't like and worked for a Company you lost money on.

Where's the problem here? You make this guy sound like a criminal and if you have proof, offer it up. Everyone is free to support who they want.

You really sound like a silly schoolgirl.

Anonymous said...

"Allowed to finance political campaigns...." Are you serious????

Do you purport to limit who can donate to, or support a political campaign because of actions over a decade ago by a member of their family?

You can't be serious.

If inference and irresponsible accusations were currency, you would have made all your money back by now.

Talk about some real issues, PLEASE.

Anonymous said...

The difference is alexi is a public figure running for office. Mr brincat is a private citizen who is lawfully excercising his rights as a private citizen with an expectation of not being called a criminal.

redtail said...

It's all on the internet, anons. John Brincat wasn't sent to jail until 2007, almost exactly ten years after his company collapsed. He is still there; will be released in 2017. I didn't say there was a deal to keep his son out but it's conceivable since he was high enough in the company to be listed on Mercury's last 10-K in 1996. Also on the internet.

And I say again, if Giannoulias can be called a mob banker, without indictment, someone in the business of issuing 400% loans can be called a loan shark. Or usurer, if you prefer. Or perhaps just greedy banker who can afford a $4 million mansion to host a fundraiser in? (Value also on the internet.) The Department of Defense is warning soldiers away from such places and I say, good for them.

But you are right, I did use the bloggers perogative to begin this with a provocative startment. We shouldn't limit individuals' rights to invest in Congressmen but we certainly should exercise our free speech rights to investigate where Congressional aspirants are getting their money.

Dold gets his major money from "lenders," investment bankers like *Goldman Sachs*(!), real estate developers, pest control companies, janitorial services, and lawyers. Nuff said. But I'll post more soon.

redtail said...

A loan shark is not a criminal, by the way, and I never called him one. It is a legal, although very shady, way to make a living. It is his father who has been found to be criminally liable for cooking the books of a company where his son was employed in a high-level capacity.

Read Shakespeare's Merchant of Venice for a portrait of a loan shark carrying out a legal business. It is a time-honored profession. One that politicians should steer clear of.

Bemused said...

Great blog for traffic....off the charts today! Highest day of the year. Looks like some nerves have been touched. Campaign Season is open :-)

Anonymous said...

The title of your article speaks for itself and is, I believe, libelous in a criminal sense.

"Loan Shark Hosts Dold Funder" is pretty clear. You are accusing Mr. Brincat of being a Loan Shark.

BTW - Are you SURE about the 400% APR loans before you blog any more? Looking at their info, it does not appear they offer payday loans but are a traditional Finance Company a la American General, GE Capital, et al.

FYI - During my call to the Consumer Financial Services today, they informed me they do not do title loans OR payday loans but offered to refer me to someone else if that's what I was looking for.

It is inherently irresponsible if you are:

1. Accusing someone of illegal activity (loan sharking) if they have not been found guilty of such conduct ( also most likely a libelous action)
2. Misrepresenting the nature and conduct of someone's business to their detriment (also conceivably illegal). The company apparently does not make the kind of loans you represent they make
3. Personally attacking a candidate's supporters who are not public figures.

You clearly did accuse him of being a criminal and until you can prove it you shouldn't call him a "loan shark."

Anonymous said...

BTW - Is he a bad guy because his wife owns a nice house?!?!?!?!?!?

I like his style!!!!

I say good for him!!!

Anonymous said...

OK Redtail, just to be clear.......

1. You are retracting your categorization (blog title) of Mr. Brincat (Jeffrey) being a "Loan Shark."
2. You are clearly not accusing Mr. Brincat of doing anything wrong, but of engaging in a business you find to be "shady"
3. You are clearly pointing out that there is no basis on which to accuse Mr. Brincat of having ANY involvement in ANY wrongdoing on the part of his former employer (Four people did go away to Jail on this but not him)
4. You agree that Seals should not hold fundraisers at convicted felons house's as he has at least twice.
5. It is your opinion that people who own Finance Companies are SHYLOCKS (a la your ref. to Merchant of Venice - a very distasteful reference for obvious reasons) and should not help candidates.
6. By living in a big house his wife owns, Mr. Brincat is, by default, a "greedy banker."

It appears you should have more conviction and foundation in your arguments if you have to retract and clarify them this quickly after posting.

Maybe blogging isn't for you after all!

Joe said...

Inquiring minds want to know: has anyone checked the IP address of the anonymous poster who is ranting & raving about this blog topic? My guess is that it's the same person. Hell, I'm even willing to bet it's the infamous "anonymous" who posts very similar comments over at TA's site.

redtail said...

It was Brincat's house until 2009 when he deeded it to his wife. Here's the link.

http://chicago.blockshopper.com/property/1234305050/1000_e_illinois_road

Hope this helps!

Kelly said...

So some big shot “loan shark” decided to open up his mansion and throw a party for a politician. Don’t our wealthy friends in Lake Forest do this all the time? On any given Saturday, you would be hard pressed not to find some swanky gala being hosted. But this fundraiser, as you point out, is different. It’s not about the candidate, the political party, or the location. It’s about the notion that this particular Bob Dold fundraiser may have been thrown with dirty money obtained at the expense of our men and women in uniform.

As the wife of a Marine currently serving in Afghanistan, you caught my attention with the bold statement that Mr. Brincat makes his living preying on servicemen. Payday loans can be an enormous problem for uneducated servicemen who do not understand the ramifications of taking on debt of any kind. I’ve seen firsthand the havoc subprime loans can wreak on a military unit, particularly when security clearances are revoked as a result of bad debt. Fortunately, there are many resources out there for servicemen to take advantage of, such as Military One Source and confidential counseling that can prevent them from being victimized by so-called “loan sharks”.

Now, whether you agree or disagree with the shady workings of the subprime loan industry is another topic for another time. The issue at hand is Mr. Brincat’s political backing of Bob Dold, given his family’s purported history of predatory lending practices. It really is juicy stuff to point out the ties between a candidate who strongly supports our military and a campaign contributor who allegedly preys on it. How can this be allowed? Now, normally, the fact that Mr. Brincat and his family live in a multi-million dollar mansion at the alleged expense of military families like mine would horrify me. Except there is one little detail you forgot to mention…

Mr. Brincat himself proudly served in the Marine Corps. Perhaps you have never heard of the saying “simper fidelis”- always faithful. You should know that there is no such thing as an ex-Marine. We are all one family, serving one purpose, supporting one another long after the uniform has been hung up. Yes, Mr. Brincat has had the blessing of being able to run a successful company and live very comfortably after he completed his service to the Marine Corps. But don’t think for one second that Mr. Brincat has ever forgotten where he came from. If you had truly done your research prior to writing this blog, you would have found that Mr. Brincat is still proudly serving by helping his fellow Marines in any way he can. “Once a Marine, always a Marine”, as the saying goes. Mr. Brincat is a man, who with his family, dedicates countless hours to volunteering with military support organizations. He graciously donates money and goods to help support military families like mine. He does this quietly (often anonymously) and without fanfare because he understands that the supporting the military’s mission is more important than his own individual recognition. It has been my family’s good fortune to have experienced firsthand the generosity of Mr. Brincat and people like him.

It truly saddens me to see Mr. Brincat’s quiet contributions to supporting the military being overshadowed by a defamatory blog like this that accuses him of making his living in a way that dishonors his service to our country. Mr. Brincat paid his dues fighting for our freedom and defending your right to make nasty comments about him. By the way, Mr. Brincat, my husband, and all of their fellow Marines say “you’re welcome”.

Anonymous said...

you are one of the most ignorant bleeding hearts i have ever had the misfortune of hearing an opinion from...you are giving democrats a bad reputation and showing just how desperate you are to slander a successful respected man who happens to be a supporter of the republican party...your are trying to make an example out of someone based on your own pure hatred with no supporting facts or eveidence.

Anonymous said...

I DON'T KNOW ANYTHING ABOUT THE POLITICS IN THIS DISCUSSION, BUT I DO HAVE SOME KNOWLEDGE OF THE BRINCATS. I DID FEEL SOME PAIN FROM THE DEMISE OF MERCURY FINANCE.
MY GUESS WOULD BE, THAT THE MANSION YOU TALK ABOUT ACTUALLY BELONGS TO JOHN, THE FATHER AND HIS WIFE, AND WAS TRANSFERRED TO KEEP IT OUT OF THE MONETARY PENALTIES IMPOSED ON JOHN. ALSO, IT WOULD BE MY GUESS THAT JEFFREYS BUSINESS WAS FUNDED BY AND STARTED BY HIS FATHER, JOHN, IN VIOLATION OF HIS SENTENCING GUIDELINES. AS FAR AS JEFF'S BEING " ALWAYS FAITHFUL" TO THE MARINES, HE DIDN'T KNOW WHAT SEMPER FIDELIS MEANT WHEN ASKED A FEW YEARS AGO.THESE ARE ALL MY OPINION BASED ON THE LITTLE BIT I KNOW OF THE SITUATION. I'M SURE A LITTLE INVESTIGATING COULD PROVE WHAT'S TRUE OR NOT. WHAT WAS JOHN'S ADDRESS AND WHAT IS JEFF'S ADDRESS NOW . DID PREVIOUS EMPLOYEES OF JEFF'S COMPANY EVER HEAR JOHN SAY ON CONFERENCE CALL MEETINGS THAT IT WAS HIS COMPANY AND HIS MONEY?
YOUR CLAIMS OF LOAN SHARKING ARE NOT FACTUAL. UNLESS ILLINOIS LAWS MAKE LOAN SHARKING LEGAL. WHAT BRINCAT DOES IS WITHIN THE LAW, WHETHER YOU LIKE IT OR NOT. HOWEVRE, THERE ARE PROBABLY ENOUGH OTHER THINGS THAT ARE QUESTIONABLE AND SHOULD BE LOOKED INTO.

redtail said...

Indeed. I find it fascinating that Consumer Financial Services was incorporated in August 1997, just over seven months after the collapse of Mercury.

10thdem said...

I hope you "anonymous" republicans pretending to be democrats are enjoying yourselves, as you are fooling no one. The info on this blog is relevant - especially given the "mob banker" garbage Kirk is throwing at Giannoulias. It's beginning to look like Dold is almost as dishonest as Kirk.

Dold is certainly dishonest in his claim to be pro-choice, given that he's endorsed by the IL Federation for Right to Life as well as Phyllis Schlafly's Eagle Forum (which, btw, is also against equal rights for women - nice endorsement there, Mr. Dold)

Anonymous said...

=My guess is that it's the same person. Hell, I'm even willing to bet it's the infamous "anonymous" who posts very similar comments over at TA's site. =\

Just about EVERYONE posts as "anonymous" at TA's site.

And defending the "wife's" nice house?

Unless it's old money, sounds alot like "the divorce" before the bankruptcy, etc.--even though it may actually be as innocent as it seems.

Anonymous said...

=I’ve seen firsthand the havoc subprime loans can wreak on a military unit, particularly when security clearances are revoked as a result of bad debt.=

Interesting. Soooo Red, White & Blue.

Anonymous said...

I worked with Jeff and his brother, Jeffs house is his dads, he made a ton of money off the accounting nonsense, and should be ashamed of himself.

Anonymous said...

MR.SHARK ALSO HIRES ILLIGAL IMIGRANTS IN AL HIS 13 LOAN OFFICES.

Anonymous said...

JUNE 21, 2011 POST BY KELLY IS FUNNY, I GUESS KELLY BRINCAT HAS TO DEFEND THE HUBBY WITH LIES

Anonymous said...

I worked at Mercury, and while I want involved in the fraud, I dont know how Jeff Brincat managed to end up with his house, which was his DAD's asset, and might have been used to pay off creditors.

Anonymous said...

I worked there and was lucky to get out before the shenanigans were dicovered. Not sure, but Jeffs house is his Dads former mansion in Lake forest somehow transfered to him. I count my blessings I got out after 5 or 6 years before the mess. John JR, it would take a month to explain what a nut case he was as a boss.

Anonymous said...

Being a Marine doesnt give you a licence to commit Fraud, Jeff and John JR all got their lofty positions and pay because they were daddy's boys, didnt come up through the ranks like everyone else had to. The Mansion Jeff has is his dad's former palace, wonder how it escaped the courts?
John JR?, he was my boss, what a freak, just glad I found a better place and got out before the mess