would be able to successfully prevail?
What questions would you pose to this individual?
CHAPTER FOUR
ALEX MET THE INVESTORS AT THE WELL
HE TOOK THEIR WATER AND THE WELL RAN DRY
From reveries so airy, from the toil
Of dropping buckets into empty wells,
And growing old in drawing nothing up.
—WILLIAM COWPER (1731–1800), ENGLISH POET
NAVIGATION POINT AND HEADING Let’s walk up another tributary, just a bit, to take a close look at Alex’s involvement with the CEP sales presentations and his meetings with individual prospective clients. He has admitted that from 2002 until 2006, he was sending out false financial reports, deceiving not only the clients, but his partner, Bryan Noel, as well. Concurrently, with the stock trading, financial losses and the falsified financial reports, sales presentations designed to acquire additional investors were ongoing. While the presentations were being conducted and during the subsequent follow-up meetings with potential investors, only one person in the room knew the funds were diminishing and the financial reports were false. That one person was Alex.
NOTHING HAPPENS UNTIL SOMEBODY MAKES A SALE
During Noel’s trial, Alex provided testimony with regard to the marketing and sales endeavors of Certified Estate Planners:
Q. Did you have the opportunity to observe any of these sales presentations?
A. Yes, I did.
Q. How would these — where would these sales presentations occur?
A. These sales presentations would typically occur at restaurants in the Hendersonville area, such as Hubert’s or Blackwater Grill or McGuffy’s.
Q. And how was it that clients were invited to attend these sales presentations?
A. There were mailings that were done to prospective clients, inviting them to attend the sales presentation.
Q. Have you ever seen any of the brochures?
A. Yes, I have.
Q. Let me show you Government Exhibit 20A, which is already in evidence, and ask if you’ve seen it before.
A. Yes, I have.
Q. What is that?
A. That is a seminar brochure for CEP.
Q. And is this one of the brochures that was sent out to invite clients to the seminars?
A. Yes, it was.
Q. Can you tell the jury what these seminars were like.
A. These seminars basically consisted of a sales presentation that involved the four-corners’ approach to estate planning, which is basically investments, legal, taxes, and insurance. Anybody that was interested would then fill out a form saying that they were interested and requested an appointment to discuss this further.
Q. Was any type of meal offered?
A. Yes. A free meal was offered.
Q. Were clients told about any investment strategies at these seminars?
A. They were not told specific investment strategies.
Q. Did that come later?
A. Yes, it did.
Q. Who would be the presenter at these seminars?
A. Bryan Noel was the presenter at the seminars.
Q. Did anybody else speak?
A. Yes, there typically would be some other speakers.
Q. Were you ever the speaker?
A. I was not the speaker, but I was present for many of the seminars in a supportive and administrative role.
Q. Why didn’t you speak?
A. I’m not really much of a salesman.
Q. So why were you there?
A. I was there to show the investors, potential investors — to give kind of a face to the strategy that was going on at CEP, so that they could see everybody that was involved.
Q. When you say give a face to the strategy, what was the strategy?
A. The strategy would be to ultimately tell them about any potential investments that could be made in
Pinnacle.
Q. When clients were advised as to how their funds were being invested, what were they told?
A. They were told those funds were being invested in stocks.
Q. And, specifically, those were the Pinnacle funds?
A. Yes.
Q. Is that what clients were consistently told?
A. Yes, it was.
Q. Now, after the seminars, were there any follow-up meetings with potential clients?
A. Yes, there were.
Q. And can you tell the jury about that?
A.
What questions would you pose to this individual?
CHAPTER FOUR
ALEX MET THE INVESTORS AT THE WELL
HE TOOK THEIR WATER AND THE WELL RAN DRY
From reveries so airy, from the toil
Of dropping buckets into empty wells,
And growing old in drawing nothing up.
—WILLIAM COWPER (1731–1800), ENGLISH POET
NAVIGATION POINT AND HEADING Let’s walk up another tributary, just a bit, to take a close look at Alex’s involvement with the CEP sales presentations and his meetings with individual prospective clients. He has admitted that from 2002 until 2006, he was sending out false financial reports, deceiving not only the clients, but his partner, Bryan Noel, as well. Concurrently, with the stock trading, financial losses and the falsified financial reports, sales presentations designed to acquire additional investors were ongoing. While the presentations were being conducted and during the subsequent follow-up meetings with potential investors, only one person in the room knew the funds were diminishing and the financial reports were false. That one person was Alex.
NOTHING HAPPENS UNTIL SOMEBODY MAKES A SALE
During Noel’s trial, Alex provided testimony with regard to the marketing and sales endeavors of Certified Estate Planners:
Q. Did you have the opportunity to observe any of these sales presentations?
A. Yes, I did.
Q. How would these — where would these sales presentations occur?
A. These sales presentations would typically occur at restaurants in the Hendersonville area, such as Hubert’s or Blackwater Grill or McGuffy’s.
Q. And how was it that clients were invited to attend these sales presentations?
A. There were mailings that were done to prospective clients, inviting them to attend the sales presentation.
Q. Have you ever seen any of the brochures?
A. Yes, I have.
Q. Let me show you Government Exhibit 20A, which is already in evidence, and ask if you’ve seen it before.
A. Yes, I have.
Q. What is that?
A. That is a seminar brochure for CEP.
Q. And is this one of the brochures that was sent out to invite clients to the seminars?
A. Yes, it was.
Q. Can you tell the jury what these seminars were like.
A. These seminars basically consisted of a sales presentation that involved the four-corners’ approach to estate planning, which is basically investments, legal, taxes, and insurance. Anybody that was interested would then fill out a form saying that they were interested and requested an appointment to discuss this further.
Q. Was any type of meal offered?
A. Yes. A free meal was offered.
Q. Were clients told about any investment strategies at these seminars?
A. They were not told specific investment strategies.
Q. Did that come later?
A. Yes, it did.
Q. Who would be the presenter at these seminars?
A. Bryan Noel was the presenter at the seminars.
Q. Did anybody else speak?
A. Yes, there typically would be some other speakers.
Q. Were you ever the speaker?
A. I was not the speaker, but I was present for many of the seminars in a supportive and administrative role.
Q. Why didn’t you speak?
A. I’m not really much of a salesman.
Q. So why were you there?
A. I was there to show the investors, potential investors — to give kind of a face to the strategy that was going on at CEP, so that they could see everybody that was involved.
Q. When you say give a face to the strategy, what was the strategy?
A. The strategy would be to ultimately tell them about any potential investments that could be made in
Pinnacle.
Q. When clients were advised as to how their funds were being invested, what were they told?
A. They were told those funds were being invested in stocks.
Q. And, specifically, those were the Pinnacle funds?
A. Yes.
Q. Is that what clients were consistently told?
A. Yes, it was.
Q. Now, after the seminars, were there any follow-up meetings with potential clients?
A. Yes, there were.
Q. And can you tell the jury about that?
A.
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