Enough, let's see the books!

The Court records reflect that we're talking about thousands of personal purchases by Nancy Selleck and Walter Walker using the CMRA debit cards. In Texas, each purchase is freakin' felony.

The Court records reflect we're talking about hundreds of thousands of dollars by Selleck and her Board-member husband, Syfan, in unexplained cash deposits between 2011-2014. These deposits stopped when the Court made them produce their financial records.

This is not a joke, it's not a theory, it's a freakin' fact. The CMRA would not have spent $750,000 in defense costs if I was wrong. They would not have begged for a protective order to hide the records either, then used it as an excuse not to show Linz the very records they claim exonerate them.

 

Now we are getting somewhere. So clearly spending $750,000 on attorneys is protecting some serious shit.

I don’t even see how the other directors are even on board at this point unless they’re in on it too.

If I am a board member and notice thousands of charges on a company card my ass is calling you out!

 

Well the public records aka IRS statements are public record for anyone wanting to see them.
They are out there.
Ive had a look at them.
Just pick any race and go look at how many went through the gate on a given day of a 3 day event.
Gate is cash only also.
Very interesting info.

Steven

 

Now we are getting somewhere!

 

The fact that they have refused to show anyone proof that nothing illegal has occurred is proof in and of itself that they have done something wrong. Innocent people don’t fight this long and hard to hide things.

 

Objection your honor, assumes facts not in evidence.

 

What i dont get is how everyone at Cmra has not taken a stand to demand answers.
Hell to hear most think that Peyton case was dismissed.
They are kept in the dark.
Maybe now people will see its not a pissing match between Peyton and Cmra.
It really is something that needs to be exposed.

Steven

 

That’s hearsay your Honor. Move to strike from the record. I have dirt bikes to go ride.

 

What blows my mind is that it's taken two threads and I don't know how many hundreds of posts for anyone to mention specifically what the financial allegations were.

 

how the hell does a grassroots racing org even have $750k + stolen monies to begin with? i've never seen a racing org with that much profitability before, that's not a pro level operation. its impressive i'll say that.

 

Trackday orgs with Ferrari's, now this. Mongo is clearly not charging enough for us to be on the beeb.

 

no bullshit. geezus christ.

 

CMRA has roughtly $750K in total revenue yearly, not profit.

 

So then how much profit does it have left over at end of the yr?
Im curios who actully owns the club?

Steven

 

I think some of you underestimate the amount of money that even club racing requires, and the amount of money that flows through the clubs and tracks, not saying massive profit, but lots of money...

 

Yea but if margins are low, you cant steal large amounts and continue to actually run the events. And/or certainly not pay that kind of legal fees. Had to be a pot of money somehow over X amount of years. Or somebody owes creditors in a real bad way while milking cash. Only so many ways to skin a cat there...

 

Guess it would be a good time to tell folks Cmra has an insurance company who is paying legal fees.
And also they are covering legal fees and representing all the people in lawsuit.
Can you say conflict of interest here.

Steven

 

No idea or memory. Finances were abysmal in my day. I think.......

You see, I am highly embarrassed that I was not smart enough to know that what I reviewed for four years was not the actual financials but rather a basic profit and loss statement. Being an in the field, on the street sales guy, my experience in the financial husbandry of a million dollar non-profit was zero. This is why as the VP and President I did things like create the mini fest and work to bring USGPRU into our events. Sales and marketing. This was my strength so its what I focused on.

This is one of the by products of a non-profit, member elected BOD system. You end up with people who dont have the skills to really run things, so you default to the status quo, get complacent, and just race. So much more could have been done and while problems did not start until after my time, maybe more work in my days could have prevented some of these things from happening. To me, I failed.

My heart breaks for my club. This is like watching an elderly loved one slowly die.

As far as club ownership goes, I have never seen an answer to that question that made sense so I will have to defer to some other person if there is one who understands how it is structured.

 

thank you for your honesty.

Steven