Wednesday, March 04, 2009

Receiver wants money refunded from F&S Oil owner

From the WRAs David Krechevsky:

The receiver for F&S Oil Inc. has accused the company's former owner of spending $3.8 million in corporate money on personal expenses, more than was owed to thousands of customers who bought prepaid oil contracts.

Richard A. Stevens, who owned the family business at the time of its sudden demise last year, emphatically denied the allegations Tuesday through his attorney, Elizabeth J. Austin of Pullman & Comley of Bridgeport.


Interesting to me... if you click thru to the WRA article... there are a number of comments there, even though WRA articles tend to get few comments.

It's similar to posts here about F&S Oil. That is, most posts here generate few comments. But F&S Oil tends to be one of the exceptions.

Tim White

12 comments:

Anonymous said...
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Anonymous said...

Tim,

I do not have enough knowledge on the F&S case but I do believe you need to clean up the language on YOUR blog. Everyone is entitled to there own opinion..but I'm sure they can get the message across without all the dirt words.

MJR

tim white said...

10:00pm reposted

Has anyone seen a dime yet? Helming has. Strange how of all the accountants in the area, and the state, a cheshire resident gets the job. (deleted)

tim white said...

(deleted) Why should'n't a state appointed receiver who has clearly identified fraud, sold assets to reconstitute some money for creditors, and sued the owner for 3 million on behalf of the state, not be paid? He doesn't work out of some H&R Block office either. He's tops in his area of expertise and just happens to be a resident like so many other professionals that call Cheshire home.

(deleted) You'll see more clearly and live a little longer and maybe be a bit happier along the way.

PAX

Tim White said...

that was 10:15 reposted at 11:05

Tim White said...

MJR, thanks for the head's up.

Anonymous said...

Hey Tim,

Always remember that I'm definitely looking out for you!

MJR

Anonymous said...

Looking at the facts uncovered by the receiver one must wonder just how inflated oil, propane and service bills issued by F&S were. Certainly the squandered almost $4 million had to come from somewhere.

The CT BBB had many more then the normal amount of complaints about this firm. It is a shame they didn't more actively pursue the issues which slowly be certainly finally unfolded for all to see. It is a shame our state government didn't review the CT BBB findings in conjunction with the numerous licensing complaints which were on file against F&S licenses issued by the CT Consumer Protection Department either.

Individuals as well as town municipal governments need to remember to get multiple bids for goods and services prior to signing on the dotted line.

Anonymous said...

Who owns F&S propane? I heard it was spun off of F&S oil before it went belly up.

Anonymous said...

Response to 'who owns F&S propane.

Google the term [f&s propane] and look for the "Inergy Completes Acquisition of Connecticut Based Propane ..." response.

"KANSAS CITY, Mo. -- Inergy, L.P. (Nasdaq:NRGY) announced that it has acquired the propane assets of The F&S Oil Company, Inc., located in Waterbury, Connecticut. F&S Oil delivers propane to approximately 4,500 customers;

Expands Retail Propane Operations in the Northeast U.S. Market ..."

Robert DeVylder Jr said...

"It is a shame our state government didn't review the CT BBB findings in conjunction with the numerous licensing complaints which were on file against F&S licenses issued by the CT Consumer Protection Department either."

Like I said before on a different topic, the state of Connecticut uses "licensing" as a tax and doesnt care what you do or how you do it as long as you pay your fee.