3abn Confirms Real Estate Transaction, & Hints of Piano Sale Besides Options

[mikell]

You think she, perhaps, stayed home?

Steffan, a she???

[lurker]

No, the laptop.

[LaurenceD]

China is a safer destination for many travellers because fundamentalist Middle Eastern countries still execute adulterers.

Ouch!

I think I've read, or seen discussion of, plans fo some important person at 3abn traveling to the Orient about this time of year (could be wrong). Perhaps a belated honeymoon w/o his laptop?

[Shiny Penny]

Yes it is annoying to find that partial information and out right lies have been disclosed on world wide television in order to influence doners to give give give because Danny is suffering terrible emotions from what his wife has been doing against him and the ministry.

Rosyroi

Rosyroi - thanks for the reminder. But keep in mind that Linda is telling only what she wants to tell as well and I believe leaving off important details. But that is human nature...we all want everyone to think well of us.

Anyway, as Clay has said he comes to these threads for entertainment, as should I. So I take a hiatus for a while and occupy my time with other more entertaining endeavors!

[lurker]

I think there are enough official documents out there that we do not need to depend on Linda for the facts or even for her interpretation of the facts. If Linda comes out of this whole thing looking bad, so be it. She is the one calling for the truth to be told and I believe she means it. I believe she is capable of change and willing to do so.

Danny on the other hand, doesn't appear to feel the need for change.

[Pickle]

I think the objective reader will think that, on the surface, Linda comes out looking pretty good in the "Cash Receipts for $40,000 for Two Donated Horses!" story now on Save3ABN.com. She argues with Danny in favor of following what ends up being IRS's standard rules, and Danny tries to argue against what her accountants have advised her.

If anyone wants to start a thread here about those horse deals, copying whatever emails seem pertinent, I doubt Gailon will mind. As for me, I'm out of time.

But SP, consider the implications: After running 3ABN for 20 years, Danny still doesn't know how to properly report donations of property to the IRS, or if he does now, he doesn't care.

Are there any other areas in which Danny has done such things?

This post has been edited by Pickle: Jun 27 2007, 06:40 AM

[Rosyroi]

Rosyroi - thanks for the reminder. But keep in mind that Linda is telling only what she wants to tell as well and I believe leaving off important details. But that is human nature...we all want everyone to think well of us.

Anyway, as Clay has said he comes to these threads for entertainment, as should I. So I take a hiatus for a while and occupy my time with other more entertaining endeavors!

Shiny Penny,

Not sure if you are trying to say something without saying anything or if you are just whistling in the wind but Linda's close advisers and friends have NEVER said Linda was perfect.

Recently I talked with someone who had helped Linda out and the person told me Linda Shelton NEVER said a bad word against Danny Shelton/3ABN.

With the mental state she should have been in after all the terrible things said to and against her and on world wide television too, if it were me I wouldn't have been so kind. I honor her for that.

So just keep on saying what you are saying... Hope Steffan ...oops ...Danny pays you well.

jmo

Rosyroi

[Pickle]

I appreciate all those who have tried to make sure I didn't get any of my facts wrong. Thus I am thankful to the individual who forwarded to me a 3ABN communication that explains where the $6,139 or $6,129 figure came from for which the property was sold to the Sheltons in 1998.

Looks like 3ABN calculated what the property would have been worth at the end of the Sheltons' lives, and sold it to them for that. So they took however many years of depreciation that would amount to and took it off in 1998 to come up with the sale price, and then reported it to the IRS as a loss.

Does that sound kosher, you accountants out there?

[PeacefulBe]

Has someone at 3abn had another vision? Perhaps about the real estate market crashing as Linda and Danny pass away? This seems the only explanation that would fit with your scenerio, Bob.

Am completely puzzled by the creative accounting world.

[Rosyroi]

Has someone at 3abn had another vision? Perhaps about the real estate market crashing as Linda and Danny pass away? This seems the only explanation that would fit with your scenerio, Bob.

Am completely puzzled by the creative accounting world.

Good thoughts about those visions... almost forgot about that.

I don't know much about Real Estate, but I thought that having some property would increase in value not the other way around... guess I got the story all wrong..

Must be the visions...

Someone forgot to tell Donald Trump that.

Rosyroi

[Artiste]

Bob;

Sorry for the delay. I am a little sick right now. I don't know yet who the CFO was yet, but I will look. However, Lovejoy was the Accountant cited with 3ABN in the IL vs. 3ABN Property Tax Lawsuit.

I wonder what he thought about the audit that was performed in 2000-2001 and cited in the lawsuit. I wonder if that was when they got hired or if they had been with 3ABN for a while. Oh well, that is where I definitely saw that name before.

I also noticed in the reports at the Attorney General's site still show audits reflecting a problem with valuations. This tells me that 3ABN didn't learn to well.

Somebody Else;

Someone asked for the original article by AToday where a retraction was later printed. I found a copy of the 1st draft dated 12/12/2005, I can not post it since it has information that was not printed at the request of Walt Thompson. This how I know there were still TRUST FUND Issues as late as January/February 2006. This person found the retraction, but wanted to see the original.

I have had my phone tapped and have lost my computer 5 times since Nov of 2006. I had my brand new computer burned up about 3-4 weeks ago. Has anyone else experienced any problems?

Once I can afford yet ANOTHER computer, I will be able to access my 2- 500 GB back up drives. The "now" computer I was able to make out of all of the computer parts is not updated enough to handle my backup drives. It has an old motherboard and processor. I will post the actual document once this happens. Until then ... It was published in early Jan/Feb 2006 issue.

What evidence is there that your phone was tapped?

**********************************************

[Fran]

I appreciate all those who have tried to make sure I didn't get any of my facts wrong. Thus I am thankful to the individual who forwarded to me a 3ABN communication that explains where the $6,139 or $6,129 figure came from for which the property was sold to the Shelton's in 1998.

Looks like 3ABN calculated what the property would have been worth at the end of the Shelton's' lives, and sold it to them for that. So they took however many years of depreciation that would amount to and took it off in 1998 to come up with the sale price, and then reported it to the IRS as a loss.

Does that sound kosher, you accountants out there?

Bob,

Ppppllllleeeaaaassseeeee!

Bob, have I got a deal for you, and only you! I own an island called Alcatraz, in the Pacific Ocean, not far off the coast of San Francisco, California, that I would love to sell to you. I'll take $1,000,000.00 $$$$ in cash for it! It appraised for $100,000,000.00. Surely you are interested! Send Cash please, and I will give you a Tax Deductible receipt for the full $100,000,000.00! Isn't this a bargain? Now, I won't make this offer to anybody else; just you. We will keep it between us and send IRS a thank you note. How about that, Bob? Goodness, the island has buildings on it. You could depreciate the whole thing in one year. Who would know about it? I will surely not tell!

***********************

How on earth can 3ABN depreciate what cannot be depreciated in the current year, but must be depreciated in many future years, based on the life expectancy of Danny and Linda Shelton?

That happened because they SOLD the ASSET/PROPERTY at a price way below book value! Therefore, they experienced a large LOSS in the current year.

Since the Sales Price is WAY BELOW their calculated depreciation, the SALE created a LOSS to re-coup that REALIZED LOSS of a 3ABN ASSET, right?. That can happen when property is disposed of for less than the book value.

However, there seems to be a critical VALUATION PROBLEM HERE! Houses appreciate, right? They do not depreciate until they are on their last leg! Evidence that shows the house sold for $135,000 7 days after their purchase is a real kicker!

Yes, AGAIN, TIMING AND VALUATION PROBLEMS AT 3ABN! ! ! ! ! ! ! ! IRS likes to see the fair market and book value of the asset. It will not look kosher to the auditors, because Danny and Linda experienced a very large gain on the resale of their newly purchased home only 7 days later!.

Now, we have to consider the sale of a residence that gives a gain where the gain is reinvested in another home. Did Danny and Linda reinvest that $129,000.00 into their new home? Oops, here we go again. Who can answer that? My sources said they did not, because 3ABN built their new home also.

More information is needed before I can say yeah or nay.

In my opinion, the house should have sold for the appraised value ($135,000 to Danny and Linda)and a substantial GAIN should have been realized by 3ABN. This action favors the employees/CEO/President/Vice-President of 3ABN who are not to receive these favors at the expense of 3ABN. The board favored the Shelton's over the entity of 3ABN! Oops!

If you are in business, decisions are made with the business in mind. In this case, the decisions were made having the Shelton's in mind. Forget about 3ABN the entity! Shame, Shame, shame!

Did Danny die that year? Maybe that is what is wrong? Maybe the REAL Danny did die and this Danny is a FAKE?

[Fran]

What evidence is there that your phone was tapped?

**********************************************

You could hear it. The click, click was audible for about a month. I guess that would be called "hearsay". I started picking up the phone and dialing a friends house who was not home and did not have voice mail or a recorder so I could blow a whistle into the phone.

I finally decided to add a Vonage phone in addition to ATT/SBC, and use it for all my calls. I have several lines in my home. The Vonage installer came in and installed their equipment. He had a terrible time getting the line to pass his testing. It finally worked and He left. My new phone was working. Everything was working great, until all of the sudden, while I was calling people to tell them my new number, I lost my phone line, my DSL Wireless 2Wire Modem, and my motherboard & duo processors fried. Of course Vonage equipment didn't fair to kindly either.

The installer came back to check it out. He said my phone had been tapped and my computer was being monitored also.. I did not get it in writing. I cancelled Vonage and replaced everything to get my regular number with ATT/SBC phone up and running, I have replaced my DSL Modem and phones. No more clicks.

I live on Social Security Disability, so I can not afford yet another computer. I am using a computer I built about 12 years ago. It has never broken! I am going to have to start buying bits and pieces to build a new one again. Anybody have a nice motherboard with Intel duo processers on it that is lying around not being used, let me know. I will gladly take it off your hands! I have 5 different cases! Lots of peripherals.

I need several expansion slots also for all my equipment, some of which I lost also. No there were no lightening or thunder storms at that time. Vonage is very angry about their equipment loss.

Now just who would do that? Let me think really hard. Hum! I have 2 choices. Now who is it that would be trying to catch me doing what I don't do! I am a very boring person! Yeah, sad, huh?

Really I could care less who it is that is listening to me or reading my key strokes/email/hard drives. I'll bet that was hard. I have 950 GB on internal Drives, and 1,000 gb in external drives. I hope they appreciate my hard work on my Genealogy files. I have many. About 6 that are really large! I also have about 140,000+ photos. They must not have anything better to do in my opinion.

I would like to make them buy me several new computers to replace all those that are now dead! One is my laptop!

Maybe Danny will donate me a new desktop and laptop. He could write them off as a donation. It is only the valuation thing and 3ABN does that so well! I am not an officer of 3ABN. I am not a board member. I'm only a bored reader. That should qualify me for a legitimate donation.

[ex3ABNemployee]

Did Danny die that year? Maybe that is what is wrong? Maybe the REAL Danny did die and this Danny is a FAKE?

Oh, trust me. It's the same Danny who was there when I worked there.

[Brick Step]

Over on Save 3ABN.com, the one involved in a horse deal with Danny in 2005 is named as "Stephen Lewis" and said to be a ministry leader. Does anyone know this ministry leader? Is he still leading an approved ministry?

I think the objective reader will think that, on the service, Linda comes out looking pretty good in the "Cash Receipts for $40,000 for Two Donated Horses!" story now on Save3ABN.com. She argues with Danny in favor of following what ends up being IRS's standard rules, and Danny tries to argue against what her accountants have advised her.

If anyone wants to start a thread here about those horse deals, copying whatever emails seem pertinent, I doubt Gailon will mind. As for me, I'm out of time.

But SP, consider the implications: After running 3ABN for 20 years, Danny still doesn't know how to properly report donations of property to the IRS, or if he does now, he doesn't care.

Are there any other areas in which Danny has done such things?