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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 17 Jul 2008 18:41
Here is Clarence Bushy's Response to his SEC Lawsuit 10 years ago:
What do you guys/gals think?
SEC Clarification
July 16th, 2008
In reading a number of forums today, I was very excited about the number of people who were talking about the Golden Panda Ad Builder site. There are many positive things being posted and we are excited about launching this site; however, as I read, there were a number of people talking about SEC documentation that is public record, which pertains to me. It is amazing to read about all the people who have "guessed" at what this documentation may pertain to, and who have built stories around misinformation concerning this documentation. What I want to do in this letter is set the record straight. I am only going to do this once and this is the only time that I will write anything concerning this situation.
First of all, to address one rumor that is floating around, I have never started any type of Internet Company, nor have I served as an officer in one. Secondly, I would not be involved in this Chinese Site, if it were not offered to me, with full confidence by Andy Bowdoin, the President of ASD and LaFuenteDinero. With that being said, let me digress to give some truth to the SEC situation mentioned above.
First of all, the SEC situation was from some 10 years ago. This situation came about because of a man who was an accountant, whom I had known from South Georgia. He served on the Governor's Board of Accountancy and as a member of this board, was involved in the testing of men and women in Georgia, who were trying to obtain their CPA licenses. He had one of fastest growing accounting firms in Georgia and his father was an acquaintance of my family. The man described, approached me concerning an investment that had been put together and asked if I could help him raise some funds for this business project. I did my homework, just like many of you are doing and believed I was in a very safe investment program. Friends of mine who are ministers, as well as a relatives, and myself placed money in this program. I believed this was going to be a winner for everyone. But....all did not end well. The SEC began an investigation of the situation, due to their concern that this investment did not meet SEC regulations. I believed, with full confidence, this was a legitimate investment opportunity. In the end, my friends funds, my funds, and the accountants funds were lost. Because I had lost so much of my own money, I did not have sufficient funds to hire an attorney, so I had to serve as my own attorney, filing defense papers with the court. The accountant was found guilty and although, no funds were ever sent through my account, because I had given funds to this man for this business venture, believing the best, I still had to go before the SEC and I finally settled for a $15,000.00 disgorgement.
Now, any of you who would like to share with me any blemishes on your record, may do so. Let me simply say that the experience that I had in that situation taught me to be more cautious, but it never caused me be afraid of being involved with business or with other people. Since that time I have started a number of successful businesses and I still serve as an ordained minister. I still believe that there are a whole lot of good honest men that have failures. To name a few, Ted Turner, Walt Disney, JC Penney, Donald Trump. No, I don't belong up there with those men, but my goal is to continue to allow people that have failed a second, a third, a forth,........to have a chance. As a matter of fact, I have learned a lot more from my failures than from my successes.
I hope this letter can help alleviate any concerns you may have, but you will only know about what kind of man I am through the way I live my life. If I felt it necessary, I could give you a list of pastors, ministers, doctors, attorneys, friends and others who could "vouch" for my character, integrity and honesty, but it would not give you the confidence, that you will see for yourself, in the days and weeks ahead. No, to see what kind of man that I am, I just ask you to watch how myself and my team, run this company, Golden Panda Ad Builder. For only with time can any of us prove what kind of person we are. A great book says this, "You will know them by their fruits", not by a few failures. Life is about learning lessons. Successful people are successful, not because they never fall, but because when they fall they get back up. Business people...no, really all people, have failed at some point in their lives, but in the end, the true test is their character and my character has taken me beyond my past failures and brought me to the exciting place I am today.
Thank you for taking the time to read this information,
Clarence Busby, Jr.
Golden Panda Ad Builder
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Louminous
Member
Joined: 9 Jul 2008
Posts: 19
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# Posted: 17 Jul 2008 19:30
Interesting... thanks for sharing
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Investigator
Member
Joined: 10 Jul 2008
Posts: 33
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# Posted: 17 Jul 2008 20:09
I just surfed on the site and it took 10 minutes per page. You would think that after a week they would have it fixed or at least take some of our money and fix the dam problem.
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Investigator
Member
Joined: 10 Jul 2008
Posts: 33
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# Posted: 17 Jul 2008 20:11
Hey I like this new format. I viewed 2 pages and it gave me credit for 15
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brt
Member
Joined: 19 Jun 2008
Posts: 52
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# Posted: 17 Jul 2008 20:11
Where did this letter come from?
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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 17 Jul 2008 20:13
This letter is posted on Panda's Website
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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 17 Jul 2008 20:15
Investigator: I just surfed on the site and it took 10 minutes per page. You would think that after a week they would have it fixed or at least take some of our money and fix the dam problem.
Yeah...by next week I hope it doesn't go down for "server upgrade"
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Caterina
Member
Joined: 14 Jun 2008
Posts: 128
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# Posted: 17 Jul 2008 21:43
The letter rings true to me.....glad he addressed the situation.
If you think about it, a $15,000 fine from the big boys is more of a slap on the wrist, isn't it? If he'd been some big bad con artist, wouldn't he have gotten body slammed???
And as my sponsor and I were talking.....there aren't too many successful businessmen/women who haven't had failures or made some bad decisions along the way.....
Thanks for posting it.....
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Caterina
Member
Joined: 14 Jun 2008
Posts: 128
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# Posted: 17 Jul 2008 22:38
iggyigette: This letter is posted on Panda's Website
Iggy, I ain't seeing it.....which page is it on???
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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 17 Jul 2008 23:13
Click on News/Promotion and scroll down.
Well...now that Andy is out of Golden Panda....who's going to get in?
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Caterina
Member
Joined: 14 Jun 2008
Posts: 128
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# Posted: 18 Jul 2008 01:51
OK....found it - thanks....I just wasn't giving the pages time to load, I guess.
Not sure what to make of Andy's sudden departure.....just seems like odd timing to me.....I mean, of COURSE the man's working night and day......good to know he knows his limitations. On the other hand, did he not know how busy he was a week or two (or three??) ago when they were announcing Golden Panda's launch?
Still undecided about the Panda site.......probably going to wait and see how it goes first.....
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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 18 Jul 2008 02:02
I think Andy's move is probably to keep ASD and himself "untainted" from the Busby SEC controversy...
Busby's Explanations comes too little too late and his reputation's already been dragged through the mud (whether he is innocent or guilty)
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EnjoyingItAll
Member
Joined: 11 Jun 2008
Posts: 38
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# Posted: 18 Jul 2008 04:24
Okay you guys - give the guy a break. Some times bad things do happen to good people. Although I do think you need to use your good judgement and intuition on this one. Maybe a bit too late for Golden Panda judgement of the CEO with the letter comming out so late - may be a good thing after all!!
TRy iit out and see!!
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EnjoyingItAll
Member
Joined: 11 Jun 2008
Posts: 38
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# Posted: 18 Jul 2008 04:26
Iggy,
Do you EVER SLEEP???
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logicalusa
Member
Joined: 15 Jul 2008
Posts: 91
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# Posted: 18 Jul 2008 04:29
Yeah, it's an unusual move in the sense of the timing but not unexpected.
The most intriguing thing is that Panda is now a "direct competitor" to ASD. I wonder if the system will work exactly like ASD's.
And what is it with some people going to ministers for investment $??
I shall be staying away from the Panda. Very far away.
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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 18 Jul 2008 10:18
EnjoyingItAll: Iggy, Do you EVER SLEEP???
Sleep is for girlie girls
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Caterina
Member
Joined: 14 Jun 2008
Posts: 128
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# Posted: 18 Jul 2008 10:24
logicalusa: The most intriguing thing is that Panda is now a "direct competitor" to ASD.
DOH.....that didn't even OCCUR to me.....Duhble DOH.....!!!
I suppose there's room for everyone in the online marketing business.....and I DO think Busby's letter was sincerely written and as I said, everyone screws up and a $15,000 fine seems like a small fiine in the SEC world......BUT.....Andy's withdrawal from the program, for whatever reason, is my final decision-maker. We know ASD works.....he's running it.....will stick with the proven winner for now.
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Kat
Member
Joined: 15 Jun 2008
Posts: 6
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# Posted: 18 Jul 2008 11:46
Who knows, maybe Bob Cefail will partner up with Clarence. Bob sees huge potential with the Chineese business culture and the fact that Asia's internet useage is 37.6%!
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Kat
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iggyigette
Member
Joined: 27 May 2008
Posts: 482
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# Posted: 18 Jul 2008 11:56
Internet usage in China has surpased that of the US
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brutus
Member
Joined: 21 Jul 2008
Posts: 3
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# Posted: 21 Jul 2008 19:35
Doggon it CB. I sure would have liked to see you mention a few of those "I have started a number of successful businesses" you were mentioning.
You make it tough for anyone to do any due dilligence.
It's not like we are lending you our lawn mower or something .... we are looking to entrust you with our hard earned money.
I liked you because of your association with Andy. I can certainly see andy being too busy and stepping down from a president position. But what I don't quite understand is the giving up ANY OWNERSHIP OR AFFILIATION WITH GOLDEN PANDA.
What's up with that? I wonder what Andy knows that we don't know?
lil' brutus
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timglynn
Member
Joined: 22 Jul 2008
Posts: 5
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# Posted: 22 Jul 2008 02:51
dude your one of the people that make harder to get the site fix all the ask from us is patients. And if your were as involved as you are upset, they make it perfectly clear we dont half to surf till wednesday and we will get our rebates. Relax
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timglynn
Member
Joined: 22 Jul 2008
Posts: 5
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# Posted: 22 Jul 2008 02:55
I think with all the slander going on concering andy and asd its a good thing to seperate from andy possible negative exposure. plus asd is growing so fast and adding so much for us members I cant say enough great things about andy and asd.
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timglynn
Member
Joined: 22 Jul 2008
Posts: 5
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# Posted: 22 Jul 2008 02:58
why try something that is not going to be as sucsesfull as the origional. Why put money into golden panda and gamble with it when you belong go asd? Im sure down the road we will have our own chinese sit and probably a european one as well
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matthew
Member
Joined: 26 Jul 2008
Posts: 1
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# Posted: 26 Jul 2008 12:58
http://www.sec.gov/litigation/litreleases/lr15760.txt
"Busby raised nearly $1 million from more than 70 investors. None of the investors earned the exorbitant returns promised by Busby."
To each his own choices.....
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alasycia
Member
Joined: 4 May 2008
Posts: 289
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# Posted: 26 Jul 2008 16:40
Andy Bowdoin is still President oif the Golden Panda Ad Builder when I last checked. He is not the CEO. I personally am delighted he hasnt taken any more executive responsibilities. ASD Cash Generator and La Fuente de Dinero are quite enough for one person.
Why a chinese site? Why a spanish site?
Because in the US alone there are millions of people who you cannot reach advertising in English.
The Spanish speaking populations is enormous - about 60 million I believe and then if you add Latin America, which is developing their economies fast, plus Spain itself plus spanish speakers alal over the world - you are look at a very large market.
So if you advertise in Spanish, for example, you could easily build up a second stream of income with spanish speakers, who would not respond nor be interested in ASD Cash Generato, but love to be able to advertise in their own language to others who also speak it.
It was and is a smart move on Andy's part.
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moneygrub
Member
Joined: 26 Jul 2008
Posts: 1
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# Posted: 26 Jul 2008 17:36
alasycia- did you not see the announcement from Bowdoin posted July 17 on the ASD news site ?
"To All Members of ASD and La Fuente Dinero from President, Andy Bowdoin:
Due to the amount of time I must dedicate to manage ASD and La Fuente Dinero, I have resigned my position as President of Golden Panda and have relinquished my ownership and affiliation with the Golden Panda Ad Builder Company.
I have much respect for Clarence Busby and wish him great success in his endeavor.
Sincerely,
Andy Bowdoin "
So where did you see that he is still President ?
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TinMan
Member
Joined: 29 Jul 2008
Posts: 1
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# Posted: 29 Jul 2008 14:12
Read the Terms and Conditions...this should be enough to convince anyone. NOTE- Nevis Corporation - there is only one reason for this, good luck trying to sue this company IF you ever find promises not fullfilled.....It costs too much to pursue a NEVIS corp, that's WHY they do it. IF it so legite, why go offshore? Located in Georgia, incorporated in Nevis - they want you to have your cake and eat it too?
ANY contract that can be unilaterally changed, whithout direct notice to you (posted on the site..) NO WAY!!! Will you read the Terms every day? IF you miss one of the very many requirements, they have a full OUT, and if you don't like it, you have to win a suit in NEVIS, just to THEN try and sue the company!!!!
So, does anyone buy anything from the 'advertising'? OR, is everyone just getting paid by the 'pyramid' of ensnaring the next person? How can you put in $50,000 and they pay you and your sponsor back $50,000...... Sure, give me $50k and Abra-Cadabra - I have $100k to give back, RIGHT  ......someone has to lose to make it work! (thus the impossible Terms and Conditions)
I will start my own, but mine is better, Give me $100k and I will give you $1million!!! Any takers?
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vickyS
Member
Joined: 1 Aug 2008
Posts: 6
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# Posted: 1 Aug 2008 21:39
Hello, I signed up for Golden Panda and had some questions. I e-mailed customer service, but haven't got any responce on 4 days. There are no phone # for the company. Could you please tell me how to contact the company.
Thank you
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luvtravel
Member
Joined: 11 Dec 2006
Posts: 801
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# Posted: 2 Aug 2008 07:20 · Edited by: luvtravel
matthew: Joined: 26 Jul 2008 Posts: 1 Report post# Posted: 26 Jul 2008 12:58 Reply Quote http://www.sec.gov/litigation/litreleases/lr15760.txt"Busby raised nearly $1 million from more than 70 investors. None of the investors earned the exorbitant returns promised by Busby." To each his own choices.....
vickyS: Hello, I signed up for Golden Panda and had some questions. I e-mailed customer service, but haven't got any responce on 4 days. There are no phone # for the company. Could you please tell me how to contact the company. Thank you
Attorney generals office shut them down
maybe ASD was looked into because of the association with Busby and his reputation with SEC.
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luvtravel
Member
Joined: 11 Dec 2006
Posts: 801
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# Posted: 2 Aug 2008 07:25
TinMan: you have to win a suit in NEVIS, just to THEN try and sue the company!!!!
IF that were true than HOW can the attorney general shut them down??????????They are off shore.
So whats going on here, how can the AG shut down an offshore company?
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