Thursday, April 27, 2006

The Robert Paisola Report: A Formal Report on and Ed Magedson

Copyright 2006 Robert Paisola, Salt Lake City, Utah
International Business News Wire Release

Good Evening to Our Loyal Readers,

Since we published our last article yeaterday on the Seminar Industry, our switchboards have been lighting up with questions and comments regarding The company that we profiled at and it's founder and owner Ed Mageson.

Since the article hit the national wires, we have received all types of messages ranging from 'I hate Ed" mail to "Ed really helped our company.

As a journalist and member of the media, I wanted to look at all of this confusion that surrounds this company and its founder Ed Mageson.

So I decided to spend the day and prepare what I will simply call a factual outline on our findings and again, you can make your own conclusions,

First, let me tell you that Western Capital is not affiliated or endorsed by The Rip Off Report. The only relationship that we have with the company, is we have worked with them extensively as we have taken on many clients that have been profiled on from our business turnaround program (see

So, lets begin,

1. We have looked at al of the websites that have been set up to discuss Ed and many of these sites appear to be nothing but self serving articles to force or compel the company to remove the consumer complaint that was filed with the Rip Off Repot.

2. We have noticed that many of the negative websites that have been created against The Rip Off Report, have been created by members and employees of companies who have received negative feedback on the site.

3. The sites that have been created to defame the founder of the Ripoff Report are ALL authored by people who are or at one time had an open dispute with the company. This is evident when you simply search RipOffReport.Com on Google and then compare the authors to the datbase on the site.

4. One thing that we noticed is that there is one particular company that is creating a lot of negative press on The Rip Off Report. That company is based in Deerfield Beach California. The company, a Debt consolidation company a very spotty historical background not only in Florida but throughout the country, is obviously mad because of the consumer sentiment against their company. No wonder they are mad! I will be discussing this matter on my next radio and television broadcast with the media.

5. Based upon the companies consistent request to remove information in their report on the site, the Debt Consolidation company in Deerfield Beach, Florida, escallated the dispute to a coure battle. We looked at all of the filings and the discovery and it is clear that after two different defeats in court, the company continues to spend much of its time to continue to prolong the loss of their case by trying to dig up, collect and instigate other business that are reported on Rip-off Report, instigating in their filings that The RipOffReport.Com is making up the postings and false stories about ED Magedson and Rip-off Report that are so ridiculous and verifiably crazy, that the company and its officers may soon find themselves in hot water with authorities over their actions

We attempted to contact the Deerfield Beach Company in Florida and did not receive a return call requesting comment on this story.

Among the various misnomers that they are spreading is the rumor that ED, Magedson has a federal Warrant currently out for him and that he is wanted by the FBI .

We contacted the FBI in Washington, DC and our investigators had a national NCIC check run and there is no warrant outstanding against Magedson, in fact our contacts inside the FBI stated that they routinely work with and Magedson on a regular basis.

Based upon our investigation, we believe that the people that have been exposed for their wrong doings on the Rip Off Report would be much better in re-diverting their energy to positive things like cleaning up their own house. Again, tale a serious look at the Western Capital Financial Re-Structuring Program located at

Well, my friends, this is the power of the internet. I have contemplated all day if we should release the name of the company in Deerfield Beach, Florida that we are discussing and have decided to tell you, our readers and the media, the name of this organization.

The companies name is Federated Financial AKA Federated Financial Services inc, .org, .com and if you go to Rip-off Report and look at all the Rip-off Reports on them, you will see over 40 names they go by..
See this link..

The people responsible for most of this propaganda that is being tossed around are Steve Miller & Chris McFarland of Federated Financial , Alec Defrawy with Lou Pearlman of Trans Continental Records, Fashion Rock & Talent Rock, Michael Joel Zwebner of USCY air water supply, ..they have spread the fsame types of lies becuase many of their companies victims have posted many Rip-off Reports about all of their respective companies.

In one interview, we were told that there were "over 100 current lawsuits pending" against Magedson and The Rip Off Report. Well we can confirm that this is FALSE.

Our research indicates that over the past 5 years there have been no more than 2 dozen lawsuits filed nationwide against the company, and we have confirmed that there are only 4 lawsuits currently pending, and out of those four, the docket shows that two of them are about to be dismissed.

We find that most if not ALL of the lawsuits against Magedson and the Rip Off Report were WON by the company.

We are unable to find a single court ruling in favor of the any of the stated companies that have or are suing ED Magedson and Rip-off Report.

All it appears that all of the companies that have filed suit against Magedson, have been ordered to pay the company or they merely dropped their claims and "walked away".

The Court Record shows that Steve Miller and Chris McFarland of Federated Financial knew that the Court was going to file a dismissal order, becuase, we have been told hat they knew and had prior knowledge that the judge (at their request) was going to dismiss their case.

We wonder if this dismissal was a mere attempt bt Miller to delay the deposition so that he would not have to answer the discovery and interrogatories about his more than two dozen company names and did not want anyone deposed. ( More on that case at a ater date)

There are two things that we did confirm about Magedson, and the first issue is that he WAS arrested in 1973-1974 for a mere class D marijuana charge, and the instant matter was dismissed eventuallt dismissed by the court.

Next, we verified that ED was arrested for passing bad checks. In an interview, we were told that ED, owned stores around the USA and at the age of 20he made the decision to entrust his business holdings to his then managers and left signed BLANK checks for his managers to pay bills while he on a business trip to California.

By the time Magedson returned, he found that his accounts has been emptied by his managers, and that the signed checks that he left for payroll and vendors were passed by his employees. So, Mangedson was arrested for the check problem, and he further stated that "I got arrested because they were looking for any way to get me that they could" Charges were filed, and All of the charges were eventually dismissed.

ED got arrested for it, ... authorities were looking for a way to get ED, ED. had students and senior citizens on street corners selling flowers , ... zoning inspectors pressured by local Florists all wanted to get ED.. ED never passed any bad checks. The charges were dismissed.

Today we were told that there are 4 pending cases that are considered OPEN, and we have been advised that the status of these pending matters will be documented as events happen, including dismissals at the following link:

What a great day for Western Capital, as we have been retained by14 companies as a result of yesterdays article.

If you are having business problems, there is no question where you need to go.

It is that simple.

To your Success,

Robert Paisola
Western Capital Financial


Robert Paisola is an international motivational speaker, trainer and author. He is an expert in the field of Personal Real Estate Investor Training. He is a professional speaker who has been featured on CNN, CNNFN, and the Wall Street Journal. He can answer your questions on the "Basics of the Real Estate Investing Business" to detailed issues regarding your specific transactions. Life Experience Robert Paisola is a Professional International Seminar Speaker in the Areas of Real Estate Investing, Tax Lien Investing, Rental Property Management, Real Estate Coach and Mentor Training and Business Management. He has served companies throughout the world.

If you are interested in learning the business from someone like Rob email his office at or call our offices Nationwide toll Free at 1-877-517-9555 or visit or visit

1 comment:

Paladin said...

In all the reading I have done, I yet to see where anyone has said there is an FBI warrant for Ed Magedson. I did see there was an investigation. That would not show up on an NCIC report. Did I miss something?