Blair Fedder

Caveat Emptor: Tony Kasday…..

Below is the response from a damaged party, Mr. Paul Ivaska, who explains why I dedicated this space to him and his cause against the individual titled above:

In response and for the record, the victim, Mr. Paul Ivaska wrote on April 29th, 2010 at 8:13 pm the following:   
After Tony resurfaced playing with pros in Orlando, a friend posted their views of him. Tony retaliated with attacks via blog posts and many abusive, bullying, and profane e-mails accusing an innocent person who had nothing to do with writing the post. Blair called him on it. Tony’s last posts made me realize that I need to publicly address these posts.
The facts are these. I loaned Tony $300,000 in March, 2007, for what he assured me would be a maximum of three months. He stated that his company would cease to exist and that 14 or 15 people and/or families, most of whom I know, would be out of work if I refused. He still owed me $115,000 (at zero interest) from an obligation that originated in 1987. I reluctantly agreed to the new loan when he offered 12 percent interest (the prime rate being 8.25 percent at the time) and pointed out that he had a lot of real estate to backup the loan. He repaid $100,000 in November, 2007. The three months is now over three years. All known real estate has been sold to satisfy the IRS, Michael Schreiber, Schreiber’s attorneys, bankruptcy attorneys and trustees, and God knows who all else, but nothing further to repay his good friend. And I haven’t received an interest payment in 19 months.
There were no legal problems when Gerry and I were involved in the business. However, we left in 1987. A Google search of “Tony Kasday” will clarify Tony’s statement “I was in a legit direct mail biz for 45 years.”
In 1988, Tony encouraged Gerry and me to invest with his friend in a land deal. We then made two other investments with this person, paying into them from 1990 until 2005 (almost 16 years), when they finally sold. Of course, Gerry died in July, 2001, long before our last two investments sold. Unfortunately, Tony has always been inconsistent with his payments for the 1987 debt. I regret that we were unable to do some things, such as travel, during Gerry’s last years because of a lack of disposable income.
Not having my money has continued to deprive me of investment opportunities and many things that I want and need. I paid a six-figure capital gains tax to Uncle Sam, paid off the mortgage on my modest home, and paid off my large credit card debt and my home equity line of credit. Tony has approximately 50 percent of my remaining liquid assets. So I’m not a millionaire. I do need my money.
And, yes, I don’t think it’s proper that Tony travels so far to play in bridge tournaments when he isn’t paying principal or interest on his $315,000 obligation (even if, and I quote one of Tony’s e-mails, “I gave myself a tiny treat, AND Eddie & Bob cost me zippo” sent after the Orlando tournament.)
I’m encouraged that Tony says in his post that “I have never screwed a friend out of a nickel” and pleased to read that “There never EVER was a question of non-repayment.” That certainly wasn’t my impression since he has refused to take my phone calls since March, 2009. I’m anxious to know when he plans to repay me.
Author’s note: To learn more about Mr. Kasday, please visit   http://twiki.cageyconsumer.com/DeceptiveMailingsParde

3 Comments

Cam FrenchMay 24th, 2010 at 8:23 pm

“I’m anxious to know when he plans to repay me.”

As if…come on. Substitue “if” for “when” and gl.

I think sometimes we are swayed by the words, the charming personalities, the track record, the reputation.

No one could believe Reese was cheating – what might his motives be? It’s impossible.

Well, money like Hal Holbrook said to rookie Charlie Sheen in Wall Street – “it makes you do things you would not otherwise do.”

I suggest the aggrieved put his lawyer on speed dial. Make life miserable, try to seize assets, cars, houses, boats, property, stocks, the wife’s diamond tiara, whatever he can get.

In all likelihood – (and not returning the calls says it all – no?) his “investment” is long gone.

GL.

C

Howard Bigot JohnsonJune 1st, 2010 at 8:46 pm

Submitted on 2010/04/30 at 11:36pm
I am amazed that a bridge blog has become the battleground of a distressing episode in the lives of all involved. From the perspective of a complete outsider, I sense that Tony must be the real villian, because if he isn’t then remarks made about him are totally defamatory and libellous. Yet not a word from Tony about the defamatory potential contained within these accusations, which ( if he is the good guy )he should be denying vehemently with threats of law suits. The noticeable absence of any intention to sue for libel can only add up to one conclusion – the accusations are true. This means Tony, you have been hoisted on your own petard ” by failing to challenge the accusations in court “.

Howard Bigot-Johnson

R. EllisJune 29th, 2011 at 10:42 am

Tony Kasday passed away on June 27, 2011

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