Rebuttal to False Allegations and Slander by Jay Adkisson to Ripoff Report Alleging the Sale of Bogus Entities in Frisco, Texas and Other False Allegations.
Given the numerous claims and charges of outright theft, conversion, deceitfulness, lying and cheating by his own clients (as posted on Ripoff Report), it is not inconsistent that he would make false and unsubstantiated allegations against me, Karl Dahlstorm, my family, and my business of ProAdvocate Group. Additionally, it should be noted that Adkisson’s book, “Asset Protection” has five (5) fatal errors in setting up a Revocable Living Trust.
If Mr. Adkisson can substantiate ANY illegality of any of our asset protection entities (Texas Joint Stock Company, etc.) or private membership entities, then let him prove it in a court of law. A formal letter of demand has been sent to Mr. Adkisson and his law firm, Riser & Adkisson, to cease and desist posting such false allegations and to immediately remove same from Ripoff Report & Quatloos.
The private protection entities used by ProAdvocate Group have been researched for 41 years with hundreds of satisfied customers. Mr. Adkisson’s statement that “having been caught by the IRS in selling bogus Pure Trust structures” is both false and misleading. The specific case to which he refers involved a client of ProAdvocate who, upon forming certain trusts, was instructed not to comingle his personal funds with those of the trust, even while living in a home rent free owned by a trust. The client disregarded my instructions and did so anyway, causing his violation of IRS rules and subsequently lost in Tax Court.
His further reference to me as a convicted felon is true only with respect to an SEC case, UNITED STATES OF AMERICA v. KARL L. DAHLSTROM, et al. 96-CR-157-ALL, USDC, SD/TX [Houston Division] wherein I was wrongly charged and convicted. That case is being appealed.
The information posted by Adkisson concerning this conviction is either totally false or a half-truth (which becomes a lie) or not fully understood or explained in context as to what actually occurred. The facts concerning my lawsuit and subsequent conviction are as follows:
- Clara J. Dahlstrom was not involved or charged.
- Karla D. Dahlstrom was only charged with lack of a Securities License and the selling of securities without a License.
- The case against Karl L. Dahlstrom clearly proves that the innocent can still be wrongly convicted as the following points unfortunately illustrate:
- The two (2) other Defendants in the case were given a plea bargain with no jail time if they agreed to testify to perjured and untrue statements at trial, which they did. Try to overcome that!
- Karl was charged and convicted with having more than 35 shareholders in his company some of which crossed state lines. The law in Texas at that time allowed only 32 shareholder entities. This false charge occurred because some of the shareholders were corporations, partnerships or trust entities wherein some of their participants were located in other states, and those numbers were added to our legal 32 shareholder limit.