Is Saab betting on being saved by a man with a mile log rap sheet? We are not talking Vladimir Antonov. We are talking Alex Mascioli.
On Wednesday, Swedish Automobile N.V. including Saab Automobile AB published its 3rd quarter 2011 report. It is a report written in red ink. It talks about the well documented troubles with China and GM. It mentions that there is “a memorandum of understanding for a conditional agreement for the sale of Spyker Automotive business to North Street Capital with net proceeds for Swan of EUR 32 million.”
The report then says:
“The future of Swan will depend on the outcome of these negotiations.”
A lot has been written about the Chinese aspect. Very little is known about the mysterious North Street Capital, LP, of 500 West Putnam Avenue, Suite 400, Greenwich, Connecticut 06830. Some claim it works out of a virtual office. The company is so discrete that its website shows a white page (at least on my browser.) What is known is that the alleged hedge fund is owned by an alleged car enthusiast (aren’t we all) by the name of Alex Mascioli. His track record in the world of car racing and the world of finance is sketchy at best. Whoever hinges the future of Swan on Mascioli and North Street Capital should do some due diligence.
The State of Connecticut has a long rap sheet on an Alexander Mascioli, born in 1975. He is sometimes a Mascioli Alex H, a Mascioli Alex H, a Mascioli Alex Hope, a Mascioli Alexander, a Mascioli Alexander H, or a Mascioli Alexander Hope.
- The Mascioli troubles begin in 1995, when MASCIOLI ALEXANDER H, born 1975, is arrested by the police in Wilton, CT. for DUI. He fails to appear in court a year later and is subsequently sentenced to 6 month in jail for the DUI and a year in jail for not showing up. Both times he goes free on probation.
- In 2002, MASCIOLI ALEX H, born 1975, is arrested by the Darien CT Police and subsequently convicted of forgery 3rd degree (6 months in jail, free on probation), and of criminal impersonation (6 months in jail, free on probation).
- In 2006, a MASCIOLI ALEX HOPE, born 1975, is arrested by the police in New Canaan. A year later, he is convicted of 3d degree assault and sentenced to 45 days in jail. No probation.
- Also in 2006, a MASCIOLI ALEXANDER H, born 1975, is arrested by the police of Greenwich, CT. A year later, he is sentenced to 4 years in jail for violation of a protective order. 4 years probation. He receives 45 days in jail for “Evade Resp-Prop Damage/Injury.”
- In 2007, the police in Greenwich, CT, arrests a MASCIOLI ALEXANDER H, born 1975, for DUI. He receives 2 years jail (probation 3 years) for a second offense DUI, and 120 days in jail (no probation) for failure to appear.
- Likewise in 2007, a MASCIOLI ALEXANDER HOPE, born 1975, is arrested by the Norwalk, CT police. In 2008, he is convicted of “Issuing A Bad Check Over $1000”, a Class D felony, and is sentenced to 3 years in jail (2 years probation). 5 months later, he gets a year in jail for failure to appear.
These are just the highlights, the judicial system of Connecticut would certainly be willing to provide details.
A public record search connects all these cases with a Caucasian male of Norwalk CT, who goes by the name of Mascioli, Alexander H, and who was born in August 1975. The same person is listed as having been connected with various domain names, such as autosalonworld.com, certifiedferrari.com, etripdirect.com, ferrariautomobile.com, ferrariconnection.com, ferraridealership.com, ferraridealerusa.com, ferrariowner.com, freehits123.com, italianferrari.com, theferrarigallery.com, vineyardhome.com and worldofferrari.com. (Many of these domains have anonymous registrations, some have been deleted.)
An ALEXANDER MASCIOLI can be found listed as the manager of the Classic AutoSalon in Westport, CT, and then as the owner of ClassicMotorcars Llc in Norwalk, CT. Oddly, what cannot be found is a North Street Capital LP. Connecticut’s Secretary of State has everything from North Street Elderly Housing Corp. to North Street Laundry LLC, but no North Street Capital LP.
Now we are not saying that those Masciolis (or this Mascioli) are the same Mascioli as that of North Street Capital. Who knows, maybe there are lots of Masciolis in the area around Greenwich, CT, all in their mid 30s, all with a penchant for cars, a drink here and there, and an aversion to showing up in court. If Saab’s future hinges on Mascioli, maybe someone should make sure that people don’t get the idea that it’s the same Mascioli that writes bad checks, or the one who was convicted of forgery, criminal impersonation, assault, and driving drunk.
These are trying times for Saab, and with Russian financier and Saab investor Antonov wanted in Lithuania and out on bail in London, Saab should work diligently to avoid misguided impressions that it hopes to be rescued by another jailbird.
Well, at least his probation appears to be over. That’s saying something.
Alex sounds like the perfect guy to take over Saab. Uwi Gemballa could do a better job…no, wait a sec.
I’m sorry, but if you have not confirmed it is the same human, publishing this is irresponsible.
Why haven’t we had an official response to the rumor that Glenn Beck raped and murdered a girl in 1990?
You’re right, and the major networks should refrain from their investigative journalism. This is a blog, not a publicatin.
Technically it doesn’t make a difference if the material appears in a blog, or in the New York Times, or CNN – if you’re talking libel, the standard is the same.
Not to say that Bertel libeled this guy – I think he DEFINITELY did some legwork to make sure he was talking about THE Mascioli in question.
At least he went all-out for the website, wisely choosing homestead.com instead of GeoCities or Tripod. The evidence clearly points to a hedge fund company of the highest repute!
frame src=”http://hstrial-NorthStreetCapital.homestead.com”
Why doesn’t someone call him to help clear all this up?
Mascioli, Alex amascioli@gmail.com
25 river rd
wilton, Connecticut 06897
United States
(203) 644-0348
~RTC
“Why doesn’t someone call him to help clear all this up?”
That might be construed as committing Journalism;-)
Just a reminder not to cross Bertel or he’ll give you a public rectal exam.
I have a feeling TTAC could be on the receiving end of this guy’s next felony.
I am packing right now.
And Ed did not go to Austria. He went to ….
Went straight to voicemail. Someone had to try…
Darn, beat me to it. I randomly tapped all around the screen looking for a hidden link and at top center I found:
http://www.homestead.com/. But you beat me!
25 river road, Wilton ct is a rental apartment building. 1, 2, and 3 bed apartments, furnished or unfurnished, for $2000 to $3000 a month according to the Avalon Wilton website.
A hedgies hangout?
From http://brokercheck.finra.org
This is the only private equity firm I can find at the address in the post:
Skip Navigation LinksInvestors > Tools & Calculators > FINRA BrokerCheck > Search > Search Results > Summary for this Firm
MCMAHAN SECURITIES CORPORATE FINANCE LLC
doing business as
CONSTANS CRESCENT GLOBAL LLC
CRD# 134848
SEC# 8-66863
Main Office Location
500 WEST PUTNAM AVENUE
GREENWICH, CT 06830-6086
Regulated by FINRA Boston Office
Mailing Address
500 WEST PUTNAM AVENUE
SUITE 400
GREENWICH, CT 06830-6086
Business Telephone Number
203 618-3311
I don’t know if they have a connection to North Street Capital. Suite 400 may contain multiple companies.
There you go.
In the usa, a private equity should be registered with finra. I couldn’t find north street and there was only one private equity firm at the address.
I don’t know if they have a connection to North Street Capital. Suite 400 may contain multiple companies.
As noted in the link above, it does. It’s an “executive suite.” North Street Capital could be renting space there, or it could be using it as a mail drop. (Neither one doesn’t necessarily mean that it isn’t legitimate, but it does suggest that it isn’t a big company.)
Incidentally, I also checked the Connecticut Secretary of State’s business filings. There is no North Street Capital, LP registered with it. That doesn’t necessarily mean that that entity doesn’t exist — it could be registered elsewhere — but I would guess that an LP that operates with an address in Connecticut would need to be registered with that state’s Secretary of State, even if the entity is “foreign” (from out of state.) Perhaps someone could confirm that.
I don’t think the Saab faithful much care who or what saves Saab, or makes noises about saving Saab…as long as Saab is saved.
Almost over
So is GM really going to allow this conman to get his hands on it’s technology? We know the answer to that
TBH honest most of those offences really wouldn’t have any bearing as to if he could or couldn’t manage a hedge fund. What they do show is that he probably can’t be trusted on a personal level (if course they are all the same person.) & it all reinforces the opinion that the guy is either a dreamer or a front for someone else.
Unsurprisingly however, over at The Church Of The One True Saab, “Jeff” (who seems to be in control since Wade’s departure.) is threatening to ban anyone who dares doubt that NSC has access to the millions (billions?) needed to save Saab. If Muller is pining his hopes on Mr SixPack he has no chance. I would imagine that GM will take one look at his CV and laugh any deal that involves him out the door.
My guess is that he is actually a front for the Chinese to funnel money into the company to achieve the 100% deal they so obviously want. Again anyone who thinks GM won’t see through that one really is a muppet.
In other shock news, the promised Youngman money didn’t arrive yesterday, the wages weren’t paid today.
In other reports; bears seen looking for toilet paper in a wooded area, a german man is seen shopping for a white pointy hat in Rome and rain has started coming down in bits in Alaska.
Now here’s Oliie with the weather, hows it looking Ollie?
Partly sunny, mild, and calm breezes; in other words, perfect weather to let your inner pig sprout wings and fly.
Also used reverse lookup, waybackmachine, MySpace, And boardtracker but didnt generate any hits with either phone number or the site in wbm.
Did find:
http://www.manta.com/c/mw371jw/north-steet-capital-lp
Btw, that’s a Swiss plate on the Saab cop car … Nowadays, the cops in my canton SG are driving volvo and BMW wagons.
There is a North Street Capital, LP registered in Delaware, which was formed on June 27, 2011. Whether it is the same entity as the one being discussed here, I don’t know.
If TTAC wants to learn more about it, a $20 payment to the Delaware Secretary of Corporations should provide more information about the filing.
There was a similar-named entity in FL too, but the two people listed were not familiar.
New Delaware corp, similar name, in an interesting time frame? I sure hope Bertel got the prokura with his promotion!
There is also one in Hingam, MA …
Guys, I have heavyweight buddies in the VC business. East Coast. They know every player. They never heard of the guy. And they were laughing their heads off.
There was a similar-named entity in FL too, but the two people listed were not familiar.
In the US, limited partnerships and corporate entities are formed and registered at the state level. Registering an entity in one state doesn’t not prevent that same name from being used in other states. So it is quite possible for numerous unrelated entities to have the same name — there may be many entities throughout the US that call themselves North Street Capital, LP but that have nothing to do with each other.
But Delaware is a popular place for companies that do business nationally to form their entities, so it wouldn’t be surprising if the Delaware entity was formed for the primary purpose of doing business outside of Delaware. For an undertaking like this, it would make sense to file in Delaware, then to get foreign status in other states in which the company has offices.
I tried finding North Street Capital in the FINRA database without success. Searched for a Mascioli in the FINRA broker database and I found nothing. I wonder if there might be more information in the court filings?
I tried finding North Street Capital in the FINRA database without success.
It’s possible that this qualifies for the private adviser exemption. I don’t know the rules these days (they’ve changed recently), but it does make you wonder how he could comply and have raised enough money for this undertaking, simultaneously.
The bottom line question to raise would be to determine how many funds have been committed to the Saab investment. We can only speculate about how much or how little that is.
I don’t wish to judge this with too little information. But you do have to wonder whether why there hasn’t been any buzz about funds being raised for this if there were bona fide investors in the pipeline…
Think by Tuesday we will close this Opera down– one way or another.
Usually someone ends up dead, but I think anything is possible in this case. The one thing I am sure of is Tuesday.
The website http://www.northstreetlp.com is dead, tried to ping it and it just times out. The IP 64.202.189.170 is hosted by Godaddy.com Inc, Scottsdale Arizona.
ttela and therefore The Church Of The One True Saab are reporting tonight that the deal is in. It would appear in this deal put together by Youngman and Muller, that PangDa are out & ‘someone else’ is in. Whoever the mystery new suitor is they are taking 80%, Youngman 20%.
Lofalk would seem to be suggesting that this is it. If GM turn it down, its goodnight Trollhatten.