Post by
kcac1 on Aug 16, 2024 7:21pm
Gabriel de Alba???
This entire scheme or fiasco (FEC/CGX) has been under total control of Gabriel de Alba. He has been running Catalyst Capital since 2002, with the co-founder, Newton Glassman, a complete recluse who has not been seen or heard from for years. But Glassman has been very quick to sue and play dirty in the past. Like hiring a firm formed by former Mossad Agents to try and dig up dirt on competitors and enemies.
de Alba has appointed himself Chair of 7 or 8 Catalyst controlled companies that almost all seem to be $truggling. Advantage Rent a Car is in Bankruptcy for the 3rd trime, Gateway Casino's sold off their properties and leased back to raise funny money to pay cash to Catalyst LP Fund Investors, some who have been in litigation with Catalyst for years. One being the State of Missouri employee pension fund which is the Plaintiff and accusing Catalyst of many misdealings.
In 2022, de Alba formed his own Investment Company based out of one of his hometown of Miami. It is called GDA Luma and has the financial backing of two billionaires. It appears to be a US clone of Catalyst. So, is he still running Catalyst while at the same time running his own show with GDA Luma in Miami? Or is he attempting to break away from Catalyst and his very controversial partner, Newton Glassman? Either way, it appears there could be a conflict of interest. Plus, he has totally neglected the 27 investors in their private LP Fund V that was to be closed out out by now.
And speaking of conflict of interest, he is clearly the Chair at CGX, since he controls 77% of their stock. Why they continue to call Suresh a co-chair and pay him a huge salary does not make sense, as appears to have little or no influence over the government or CGX. So, how does de Alba get away with the deals he has made between FEC and CGX. Where FEC now indirectly controls 92% of the concession, but appears de Alba was unprepared for a known 2 year in advance deadline submit a plan to Guyana that would continue to hold a small piece of once was a very large offshore concession.
He would seem very busy wearing so many hats. Maybe too busy! I think he is running or controlling more than a dozen companies if you count the two venture/vulture Capitalist Funds. The only success I have seen in the past 3 or more years was de Alba and Gramercy Funds (also owning significant FEC shares) cut a deal bailing out Colombia's largest but $truggling finance company somehow making tens of millions.
Does he have a scheme to gain back the cash invested in Guyana, if so, he sure moves slow. And my pet peeve is why he has both companies operating completely as private companeis. No promotions, positive material news or presentations for almost 2 years now. What purpose does that serve other than surpress both companies share prices big time. Or is that part of his scheme and if so, why?