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"Broken glass and higher parking rates, too?
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July 5, 1979 ©Volume 1, Issue 15
Former M5C student leader
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Fenster financial ki'1gdom falls sportation firm will be closed as a
runs a private firm, Greber In- , company selling the equipment to
· I~~~_B_y_S_a_l_R_w_b_ru~~~~ result of Judge Wei.nshienk's vestement Corporation. Fenster Trailer Boards was a related com-
Raynard Fenster, 1977 student body president at Metropolitan State College admitted in Denver District Court last week he had presented a false contract as security for a $149,000 gover~ nment loan. Evidence also showed that Fenster had apparently presented a fake equipment appraisal to a Miami investment firm to obtain an additional $125,000. As a result, Judge Zita Wein• shienk issued a preliminary injunction freezi'ng all assets of Fenster's corporations. After leaving MSC, Fenster was heavily involved in local and state politics. He moved quickly ~ through Republican circles, but the word "unsuccessful" always crops up when Fenster campaigns are mentioned. Fenster was the 1978 campaign " manager of Joe Shoemaker's "un- successful'' attempt to unseat Governor Richard Lamm. Fenster was "unsuccessful" again this year when he ran for a spot on the Denver City Council. The cloud over Fenster's .., dealings will also fall over the elderly subscribers of the Vista Ambulance Service (a.k.a. Sentry Ambulance Service). The tran-
freeze. Anyone calling Sentry's telephone number this week is greeted by a recorded message sternly informing them the number has been disconnected. The wicked web of deception was first spun when Marketing and Research Consultants Inc., a company controlled by Fenster and his business partner., Roger Youmans, form.e d a subsidiary whose business goal was to sell advertising on the sides of semitrailer trucks. . Fenster sought capitalization ·for his idea, now called Trailer Boards, Inc., from Verde Capital Corporation of Miami. Verde is a conduit for financing minority-owned businesses with Small Business Administration money. Fenster secured the loan after presenting Verde officials with a contract from the Ramada Inn Corporation for over $700,000 in advertising from Trailer Boards. Fenster admitted in court that the contract was fake, but claims he doesn't know how the signatures got on the contract. The web now gets stickier. Jerry Berlin, head of Verde Capital, also
later went to Berlin and told him of a great deal ·he had lined up. ·Fenster said he could purchase $400,000 worth of equipment for Trailer Boards Inc. for only $125,000. The equipment was coming from a company· called World Crest Inc. Greber Investement was shown an appraisal .of the equipment done by the Janis Associates firm. Janis said the goods were worth $418,000. Greber approved the loan. There was a catch however. There is no such fir~ as Janis Associates. What's more, the
pany to Fenster's corporation. Estimates made last week placed the true value of the equipment at less than ten thousand dollars. .\\:'hat happe~ed to th~ quarter million dollars 1s the sub1ect of an ongoing investigation. Officials know that at least $34,000 from Greber was used to purchase gold for another Fenster controlled firm, Expressions in Gold Inc., run by former MSC student Jim Valona. Meanwhile, Fenster and Youmans face a million dollar suit over their actions.
fl LOOK INSIDE: Esteve talks about Castro
3
Metropolitan Cycling Supplement
5
Huckabay leaves UCO
9
'Bloodline' boils
10
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