Gregg Manning: More questions about Afinsa ..Barrons 12/05/05
Trime
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This was found in Monday's Barrons financial magazine.and extracted below:
"In a conference call last week , Jose Miguel Herrero, CEO of th Escala Group (formerly Gregg ManningAuctions) denied Escala is being investigated by the federal...authorities as part of a broader probe into an investment program in Ohio involving rare coins provided by a company subsidiary."
The article goes on to discus concerns of insurers, regulatory agencies and the public about the dealings of Afinsa, Escala Group.
" In our first look at the company ( ...9/27/2004), we cited concerns expressed by ...CFRA about Gregg Manning 's accounting practices and the symbiotic nature of the relationship with Afinsa, which provided more than 70% of Manning's gross profits."
Escala is Spanish for"scale" but some stamp-world wags say it reallystands for "We are are not Gregg Manning" By any name, however the company needs to be candid about about its operations. It 's the least stamp and coin buyers-and share holders-deserve."
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Jerry
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.