firstplus financial group is a texas-based mortgage company traded under the symbol fpfx .

in 2011 , a number of indictments and other legal actions showed that the firm had been taken over by lucchese crime family .

by the use of threats and violence .

they were able to remove the firm ’s entire board of directors and managers , replacing them with their own .

according to the company , in june 2007 the gangsters forced the firm to purchase several firms under very unfavorable terms .

they may have looted $ 12 million from shareholders .

on june 24 , 2011 , the firm filed for bankruptcy protection under chapter 11 .

at one point , the company had vice-president dan quayle as a members of its ( legitimate ) board of directors .

american football player dan marino once served as its tv spokesman .

firstplus financial group

firstplus financial group <EOT> i have reviewed this quarterly report on form 10 - q of firstplus financial group , inc . ;

firstplus financial group , inc . agrees to settle ftc charges that ads for debt consolidation loans were false and misleading

the company has three direct subsidiaries , rutgers investment group , inc . ( rutgers investment ) , firstplus development company ( firstplus development ) and firstplus enterprises , inc . ( firstplus enterprises ) . in turn , firstplus enterprises , inc . has three of its own direct subsidiaries , firstplus restoration co . , llc ( firstplus restoration ) , firstplus facility services co . , llc ( firstplus facility ) and the premier group , llc ( the premier group ) . in turn , firstplus restoration and firstplus facility jointly own firstplus restoration & facility services company . additionally , firstplus development has one direct subsidiary firstplus acquisitions - 1 , inc . the operational aspects of certain of these subsidiaries are set forth below .

except where otherwise stated , references in this document to us ,  we ,  fpfg or the company refer to firstplus financial group , inc . ( firstplus ) . this form

on may 8 , 2008 , federal officials executed a search warrant at the firstplus financial group , inc . corporate offices in irving , texas and several of its subsidiaries offices . firstplus financial group , inc . denies any wrongdoing and if any charges are ever brought , it will vigorously defend them .

the consolidated financial statements include the accounts of firstplus financial group , inc . , and its wholly - owned subsidiaries , rutgers investment group , inc . , first plus development , inc . , and first plus enterprises , inc . all significant intercompany balances and transactions have been eliminated in consolidation .

firstplus development is a first tier wholly owned subsidiary of the firstplus financial group serving as a general contractor and construction manager , with its principal office in philadelphia , pennsylvania . additionally , firstplus development is licensed to do business in new york , new jersey , delaware , texas , florida , maryland , and louisiana .

firstplus acquisitions - 1 is chiefly a real estate holding company and property management firm . its purpose is to acquire real estate for leasing and investment purposes , as well as for use by firstplus subsidiaries . firstplus acquisitions provides the firstplus group and , more specifically , firstplus development with the ability to acquire real estate and protect it from the risks associated with major construction . the firm will serve to reduce the liability of the other subsidiaries by limiting the exposure associated with the owning of real estate .

the company closed rutgers investment groups new york division during the quarter ending june 30 , 2008 and recorded an impairment charge against goodwill associated with the acquisition of rutgers investment group in july 2007 .

not - for - profit body - not - for - profit bodies may be covered by a group licence to provide financial services , debt management services and credit information services .

item 2 . managements discussion and analysis of financial condition and results of operations .

firstplus r & f , a wholly owned subsidiary of firstplus restoration and firstplus facility , is designed to be a franchisor offering the right to own and operate locations that provide emergency restoration and commercial cleaning services , as well as janitorial and building maintenance services .

olé auto group , a wholly owned subsidiary of firstplus enterprises , was sold effective march 31 , 2008 . prior to its sale , the olé auto group was active in the buy here - pay here segment of the used automobile market , which accommodated customers with limited or damaged credit histories . in some cases , olé auto group directly financed the sales of used automobiles . as of the end of the quarter , the olé auto group had two used car dealerships in texas and a reconditioning center to detail , inspect , and restore automobiles purchased at auction and to support olé auto groups operations .

the company closed its firstplus restoration division during the quarter ending june 30 , 2008 and recorded an impairment charge against goodwill associated with the acquisition of firstplus restoration in july 2007 .

financial services firm - firms must be authorised to provide regulated products and services , including banking , investments , insurance , mortgages and other financial products and services in the uk .

the company closed rutgers investment groups new york division during the quarter ending june 30 , 2008 and recorded an impairment charge of $ 638 , 333 against goodwill associated with the acquisition of rutgers investment group in july 2007 .

the company recorded total impairment charges of $ 1 , 729 , 011 against goodwill associated with the acquisitions of rutgers investment group and firstplus restoration & facilities services during the quarter ended june 30 , 2008 .

the following discussion of results of operations and financial condition is based upon , and should be read in conjunction with , our consolidated financial statements and accompanying notes thereto included elsewhere herein .

firstplus restoration provides customer service 24 hours a day , seven days a week . firstplus restoration services customers in maryland , delaware , new jersey , pennsylvania , florida , and new york .

internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of consolidated financial reporting and the preparation of financial statements for external purposes in accordance with u . s . generally accepted accounting principles . as stated above , there has been no change in the companys internal control over financial reporting during the period ended march 31 , 2008 that has materially affected , or is reasonably likely to materially affect , the companys internal control over financial reporting .

revenues for the six months ended june 30 , 2008 were generated primarily from the operations of the following subsidiaries : firstplus financial group , inc . , and its wholly - owned subsidiaries , rutgers investment group , inc . , first plus development , inc . , and first plus enterprises , inc . and consisted of gross revenues from sales of approximately $ 2 , 426 , 000 , gain on sale of olé auto group , inc . of approximately $ 1 , 083 , 000 and other income of approximately $ 42 , 000 .

the charges stem from the alleged extortionate takeover of firstplus financial group inc . ( fpfg ) , a publicly held company in texas , and the subsequent looting of fpfg by members of the racketeering enterprise through a series of fraudulent consulting agreements and acquisitions involving companies controlled by nicodemo s . scarfo and salvatore pelullo .

revenues for the three months ended june 30 , 2008 were generated primarily from the operations of the following subsidiaries : firstplus financial group , inc . , and its wholly - owned subsidiaries , rutgers investment group , inc . , first plus development , inc . , and first plus enterprises , inc . and consisted of gross revenues from sales of approximately $ 1 , 331 , 000 and other income of approximately $ 42 , 000 .

firstplus restorations relationships with insurance carriers and insurance adjusters are material to its business as it customarily contracts with insurance companies for payment prior to beginning restoration services . on december 31 , 2007 , firstplus restoration acquired the assets of american insurance restoration in order to increase its capacity . additionally , the recent acquisition of the premier group llc that provides insurance adjusting services to the general public will assist firstplus restoration in acquiring new business .

going forward firstplus plans to focus its efforts back on the core business  a successful mortgage company .

you should also be aware that if you give money to an unauthorised firm , you will not be covered by the financial ombudsman service or financial services compensation scheme ( fscs ) if things go wrong .

firstplus development utilizes a state of the art estimating system , approved by most national insurance carriers , that permits it to bid on additional projects for a variety of industries that otherwise may not have been available to firstplus development .

there were no changes in the companys internal control over financial reporting during the quarter ended march 31 , 2008 that have materially affected , or are reasonably likely to materially affect , the companys internal control over financial reporting .

the company closed its firstplus restoration division during the quarter ending june 30 , 2008 and recorded an impairment charge of $ 1 , 090 , 678 against goodwill associated with the acquisition of firstplus restoration & facilities services in july 2007 .

requirements are rules placed on the firm that apply to all of the financial services activities that it can operate .

firstplus facility , a wholly owned subsidiary of firstplus enterprises , is a national janitorial / maintenance repair service provider for industrial , commercial and residential facilities that occupy both interior and exterior environments . restorative services include general cleaning ( from heavy - duty to detail cleaning ) , floor care , construction clean - up , transitional store cleaning , commercial kitchen cleaning and light bulb replacement . firstplus facility recently commenced providing maintenance repair services . firstplus facility also uses the training facility ( see below ) , managed by firstplus restoration and facility , for employee and contractor training , continuing education and certifications .

we strongly advise you to only deal with financial firms that are authorised by us , and check the financial services register to ensure they are . it has information on firms and individuals that are , or have been , regulated by us .

the consolidated financial statements include the accounts of the company , and its wholly owned subsidiaries , rutgers investment group , inc . , first plus development , inc . , and first plus enterprises , inc . all significant intercompany balances and transactions have been eliminated in consolidation .

firstplus restoration , a wholly owned subsidiary of firstplus enterprises , provides on a nationwide basis first class restoration services to residential , commercial and industrial property owners who have sustained a hardship related to a fire , water , smoke , mold or wind damage occurrence .

in the first quarter of 2008 , firstplus enterprises completed two transactions . on january 31 , 2008 the premier group , llc was acquired by firstplus enterprises . the purchase price consisted of a cash payment of $ 425 , 000 and 1 , 000 , 000 shares of the companys common stock , the closing price of which on thursday , january 31 , 2008 was $ 0 . 10 per share . the premier group is a licensed insurance adjuster that resolves insurance claims on behalf of its clients . also , effective march 31 , 2008 , firstplus enterprises sold all of the outstanding capital stock of its olé auto group , inc . subsidiary for $ 3 , 200 , 000 to stalwart enterprises , inc . the purchase price is payable under a secured promissory note with an initial term of seven years and bears interest at the rate of 6 % per annum .

copyright © 2018 financial conduct authority ( fca ) : 25 the north colonnade , london , e14 5hs . company no . 01920623

ivop issued - this firm has interim permission to run consumer credit business and was already authorised to provide financial products and services .

due to resource restraints , adequate staffing of personnel in the accounting and financial reporting functions has not yet been attained . the companys shortage of personnel and inadequate segregation of duties , as well as resource restraints contribute to the lack of effective controls over financial reporting .

the olé auto group was sold effective march 31 , 2008 , and as of march 31 , 2008 , the inventory of the companys remaining operations is immaterial .

the information contained in the report fairly presents , in all material respects , the financial condition and results of operations of the company .

ivop provisionally granted - the firm has interim permission to undertake consumer credit business and was already authorised to provide financial products and services .

in january 2008 , the company acquired the premier group , llc . the premier group provides insurance adjusting services and claims processing services to the general public . the premier group is licensed , bonded and fully operational in south florida , as well as in pennsylvania and plans to expand services in the near future to include central and northern florida by november 2008 ; the licensing application process has been also initiated in order to expand the companys services to new jersey , delaware , new york , and maryland .

the premier group , llc , a florida limited liability company , was acquired by firstplus enterprises on january 31 , 2008 and provides insurance adjusting services and claims processin g services to the general public . a typical premier group client has sustained damage to their residential or commercial property and must process a claim with an insurance underwriter . the premier group is licensed , bonded and fully operational in south florida , as well as in pennsylvania and plans to expand services in the near future to include central and northern florida during 2008 . application for licensing has been also initiated in order to expand the companys services to new jersey , delaware , new york , and maryland .

according to an indictment unsealed on tuesday , the men used both physical and finance threats to take control of firstplus in order to plunder the company for their own financial gain . scarfo , pelullo and their partners replaced the company ' s board of directors with their own cronies , and then named their accomplice , lawyer william maxwell , as special counsel to firstplus so that maxwell could use that position ' s authority to funnel millions back to the mobsters .

any fraud , whether or not material , that involves management or other employees who have a significant role in the registrants internal control over financial reporting .

similar to firstplus restoration , firstplus facility offers 24 hour a day , seven day a week customer service through its toll - free telephone number and directly services customers in maryland , delaware , new jersey , pennsylvania and new york . additionally , firstplus facility has a contract management program that allows for the servicing of national contracts through the use of sub - contractors . the use of subcontractors enables firstplus facility to expand its area of service to a larger geographical region and provides a larger labor pool to draw from . the subcontractors are monitored by our operations manager , and carry their own insurance , based on our requirements .

loren berlin is a reporter with the aol huffington post media group . she can be reached at loren . berlin @ teamaol . com , on twitter at @ lorenberlin , and on facebook .

in connection with the quarterly report of firstplus financial group , inc . , ( the company ) on form 10 - q for the quarter ended june 30 , 2008 as filed with the securities and exchange commission on the date hereof ( the report ) , i , william l . handley , chief executive officer of the company , certify , pursuant to 18 u . s . c . section 1350 , as adopted pursuant to section 906 of the sarbanes - oxley act of 2002 , that , to my knowledge :

the preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of expenses during the reporting periods . actual results could differ from those estimates .

firstplus developments current operation has expanded from moderate size alterations and single family homes to large scale alterations and design / build residential , commercial and industrial projects for private developers and municipalities .

as for the company , the firstplus website states that " beginning with the efforts of a newly reconstituted audit committee , the board of directors is working to ensure shareholder interests are protected and preserved . "

the largest part of firstplus facilitys income is based on recurring monthly contracts with annual renewals . additive income is derived from one - time cleaning ,  i . e . , construction clean - ups .

in order to train potential franchisees , firstplus r & f has built a world - class training facility consisting of a learning center , as well as simulated job - site locations for on the job styles of training . this same facility is also utilized by firstplus restoration and firstplus facility for training purposes . the facility is currently under review to obtain an institute of inspection , cleaning and restoration and certification ( iicrc ) approved school status . firstplus r & f will have the ability to train franchisees on operating procedures , as well as offer them certifications in industry related courses and offer continuing education . the facility also contains a one thousand square foot home that can be saturated with 1500 - 2000 gallons of water for instruction on how to use the most up to date technology to dry the entire structure without having to remove any building material . the facility is one of seven located in north america and one of nine in the world , thus placing firstplus r & f at the forefront of what can be offered to franchisees relative to restoration training .

in its operations , firstplus restoration utilizes state of the art radio tracking equipment that provides first plus restoration the ability to monitor and track all emergency calls , as well as several non - intrusive technologies including infrared camera , thermographic and cold jet dry ice blasting technologies . the firm also uses the training facility ( see below ) , managed by firstplus restoration and facility , for employee and contractor training , continuing education and certifications .

the companys management , with the participation of its principal executive officer and principal financial officer , has evaluated the effectiveness of its disclosure controls and procedures ( as such term is defined in rules 13a - 15 ( e ) and 15d - 15 ( e ) under the securities exchange act of 1934 ( the exchange act ) ) as of the end of the period covered by this report . based on such evaluation , the companys principal executive officer and principal financial officer have concluded that , as of the end of such period , the companys financial reporting and disclosure controls and procedures , in addition to inadequately designed controls over financial reporting , were not effective in recording , processing , summarizing and reporting , on a timely basis , information required to be disclosed by the company in the reports that it files or submits under the exchange act .

exchange – rm - this is a multilateral system operated and / or managed by a market operator , which brings together or facilitates the bringing together of multiple third - party buying and selling interests in financial instruments .

exempt professional firm - some firms ( such as solicitors , accountants and chartered surveyors ) can perform limited regulated financial activities as part of their normal professional services , without being authorised or an agent of an authorised firm .

appointed representative – introducer - a firm that can introduce customers to another firm or members of the firm’s group , and / or give out certain kinds of marketing material . it must be a representative of a firm authorised by the fca or pra , or regulated in the eea .

the following discussion and financial information is presented to aid in understanding our consolidated financial position and results of operations for the quarter ended june 30 , 2008 . the companys activities during quarter ended june 30 , 2007 were primarily focused on developing new business opportunities . the olé auto group was sold effective june 30 , 2008 . accordingly , the companys management has concluded that comparisons of the companys results of operations for the three months ended june 30 , 2008 to the three months ended june 30 , 2007 are not helpful to an evaluation and understanding of the company . accordingly , ( other than for liquidity and capital resources ) the discussion below focuses on the companys lines of business and the companys results of operations for the three months ended june 30 , 2008 .

almost all firms and individuals carrying out financial services activities in the uk have to be authorised or registered by us . this firm is not authorised or registered by us but has been targeting people in the uk , claiming to be an authorised firm .

position and results of operations for the quarter ended june 30 , 2008 . the olé auto group was sold effective march 31 , 2008 . accordingly , the companys management has concluded that comparisons of the companys results of operations for the three months ended june 30 , 2008 to the three months ended june 30 , 2007 are not

according to the indictment , scarfo and pelullo lived lavish lifestyles . scarfo had a $ 850 , 000 yacht and a luxury mansion . pelullo owned a bentley and loads of expensive jewelry gifted to his wife . in contrast , firstplus and its shareholders lost at least $ 12 million due to the criminal activity .

firstplus enterprises seeks to acquire established companies in a variety of industries , as well as newer developing companies or financially distressed companies in need of resources and direction to realize their business goals . our personnel and outside consultants are skilled in the areas of operations and finance , disciplines vital to the success of these acquisitions .

to date , firstplus development has completed a number of residential and commercial projects , including a design - build renovation and expansion in bethany beach , delaware , new modular homes in dover and elsmere , delaware and a renovation to a national landmark theatre in philadelphia . the firm is currently working on four assisted living facilities for a national chain , located in new jersey .

on january 31 , 2008 , firstplus enterprises , inc . a company subsidiary acquired certain limited liability company interests . as part of the purchase price for these interests , the company issued to the sellers of the interests , 1 , 000 , 000 shares of its common stock which had a closing price of $ 0 . 10 per share on january 31 , 2008 .

for purposes of the balance sheet and statement of cash flows , the company considers all highly liquid investments which are readily convertible into known amounts of cash and have a maturity of three months or less when acquired to be cash equivalents . at december 31 , 2007 , management believes that the carrying amount of cash equivalents approximates fair value because of the short maturity of these financial instruments .

our annual report on form 10 - ksb for the year ended december 31 , 2007 , includes a detailed discussion of our risk factors . the risks described in our form 10 - ksb are not the only risks facing the company . additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business , financial condition and / or operating results .

during june & july 2008 bod meetings , the board returned dr . robert oneal to the board , and added william todd hickman , paul h . ballard , and jack roubinek , all prominent and successful businessmen , to the bod . the bod then named robert oneal chairman of the board , and president . it also named william l handley as chief executive officer , and gary d . alexander as acting chief financial officer .

a conversation between scarfo and pelullo , included as evidence in the indictment , demonstrates how the mobsters remained mobsters , even in the boardroom . on december 5 , 2007 pelullo called scarfo to tell him that " individual 4 , " a former firstplus executive who had provided information that the two gangsters used to extort control of the company , had suddenly died . according to the transcript included in the indictment , pelullo applauded that the " rat was dead , " before adding that the man was " the only connection , the only tie to anything . "

as state licensing is completed , it is expected that commercial loans will include ( term , bridge , real estate , line of credit loans ) , financing ( equipment , machinery , purchase order , accounts receivable ) , sale - leasebacks of existing machinery , new leases , mergers and leveraged buyouts . in marketing these financial solutions , rutgers investment will focus on businesses that are less attractive to conventional banking institutions , including those in the construction industries . rutgers investment plans to accept a variety of collateral as consideration , including commercial accounts receivable , machinery and equipment , inventory , real estate , and liquid securities .

as of june 30 , 2008 , the company had approximately $ 1 , 100 , 000 in cash and cash equivalents , as compared to approximately $ 7 , 300 , 000 on june 30 , 2007 due to acquisitions and operations growth . during the six months ended june 30 , 2008 , the companys cash position was decreased by approximately $ 1 , 500 , 000 from december 31 , 2007 . the company used approximately $ 852 , 000 in cash in its operating activities for the six months ended june 30 , 2008 as compared to cash usage of $ 4 , 600 , 000 for operating activities for the six months ended june 30 , 2007 . there was a net loss of $ ( 5 , 473 , 044 ) and depreciation and amortization expense of $ 107 , 455 that did not involve a use of cash as compared to a net loss of $ 134 , 995 and depreciation and amortization expense of $ 3 , 988 for the six months ended june 30 , 2007 . from december 31 , 2007 , the companys accounts receivable decreased by approximately $ 2 , 412 , 000 and accounts payable increased by $ 1 , 272 , 000 due to costs incurred with an acquisition and sale transactions and compliance activities . in addition from december 31 , 2007 , accrued expenses decreased by approximately $ 321 , 000 , and other operating items used approximately $ 2 , 510 , 000 in cash as compared to cash usage of $ 4 , 646 , 000 for the six months ended june 30 , 2007 . the company provided approximately $ 1 , 168 , 000 in cash in its investing activities at june 30 , 2008 as compared to $ 985 , 000 from investing activities at june 30 , 2008 . specifically , the company acquired the premier group , llc for $ 425 , 000 in cash and 1 , 000 , 000 shares of its common stock at $ 0 . 10 at the closing price on january 31 , 2008 . also the companys subsidiary firstplus acquisitions sold all of the outstanding capital stock of the olé auto group effective march 31 , 2008 for $ 3 , 200 , 000 payable under a promissory note for an initial term of seven years .

the companys management , including the companys principal executive officer and principal financial officer , do not expect that the companys disclosure controls and procedures or the companys internal controls , when implemented , will prevent all errors and all fraud . a control system , no matter how well conceived , operated and implemented can provide only reasonable , not absolute , assurance that the objectives of the control system are met . further , the design of a control system must reflect the fact that there are resource constraints , and the benefits of controls must be considered relative to their costs . because of the inherent limitations in all control systems , no evaluation of the controls can provide absolute assurance that all control issues and instances of fraud , if any , within the company have been detected .

management cannot provide assurance that the company will ultimately achieve profitable operations or remain cash flow positive , or raise additional debt and / or equity capital . management believes that the companys capital resources should be adequate to continue operating and maintaining its business strategy for the next nine months . however , if the company is unable to realize sufficient revenues from its operations or is unable to raise or realize additional capital in the future , management expects that the company will need to seek additional capital on less favorable terms and / or pursue other remedial measures . the financial statements included in this quarterly report on form 10 - q do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the company be unable to continue as a going concern .

the company is in the process of working towards implementing the needed changes to be in compliance for sarbanes - oxley act , section 404 . the company had retained a third party consultant to map out the material processes of the company . items that have been addressed are the code of ethics , policy and procedures governing sales and purchases of company securities by insiders , the employee handbook , email policy and procedures to be followed when considering an acquisition . items that have been addressed and continue to be addressed are the financial reporting process , strategic planning process , succession planning and a continuity / disaster recovery plan . additional effort is needed to fully remedy the deficiencies and we are continuing our efforts to improve and strengthen our control processes and procedures . the companys management , audit committee , and directors will , subject to resource restraints , implement policies and procedures in order that our controls and procedures are adequate and effective .

in accordance with sfas no . 109 , accounting for income taxes ,  and fin 48 accounting for uncertainty in income taxes  an interpretation of fasb statement no . 109 deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year - end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income . valuation allowances are established , when necessary , to reduce deferred tax assets to the amount expected to be realized . the provision for income taxes represents the tax payable for the period and the change during the period in deferred tax assets and liabilities . based on the march 31 , 2008 loss , fpfg will have a net operating loss carryforward available of approximately $ 45 , 300 , 000 . a valuation allowance is provided against the deferred tax asset for future taxable income as realization is uncertain .

the indictment alleges that in april 2007 , scarfo , pelullo , texas attorney william maxwell and others devised a scheme to take over fpfg , a financial services company in texas . according to court documents , through threats of physical and economic harm , the scarfo - pelullo enterprise assumed and maintained control of fpfg for the purpose of plundering its assets . the takeover was accomplished by replacing fpfg’s board of directors with new figurehead members who served at the direction of scarfo , pelullo and other members of the enterprise . once the takeover was completed , the figurehead board named william maxwell as “special counsel” to fpfg , a position that he allegedly used to funnel millions of dollars to himself , scarfo and pelullo through fraudulent legal services and consulting agreements . the agreements , as well as fpfg’s fraudulent acquisitions of companies controlled by scarfo and pelullo , were allegedly designed to mask the true identity and nature of the control exerted over fpfg and to conceal the source of the money fraudulently conveyed to scarfo and pelullo .

washington – thirteen individuals , including an alleged member and an associate of the lucchese organized crime family , are charged with racketeering and related offenses in an indictment unsealed this morning in conjunction with arrests in the case , announced assistant attorney general lanny a . breuer of the criminal division and u . s . attorney paul j . fishman of the district of new jersey .

the 25 - count indictment filed in camden , n . j . , federal court charges scarfo , a member of the lucchese organized crime family of la cosa nostra ( lcn ) , and pelullo , an associate of the lucchese and philadelphia lcn families , with racketeering conspiracy and conduct including securities fraud , wire fraud , mail fraud , bank fraud , extortion , interstate travel in aid of racketeering , money laundering and obstruction of justice . the indictment also names nicodemo d . scarfo ( scarfo sr . ) , the imprisoned former boss of the philadelphia family of lcn , and vittorio amuso , the imprisoned boss of the lucchese family , as unindicted co - conspirators .

nine other defendants – including attorneys william maxwell , cory leshner , david adler , gary mccarthy and donald manno , and certified public accountant howard drossner – are also variously charged with racketeering conspiracy , including securities fraud conspiracy , wire fraud , and other offenses . the indictment also charges scarfo’s wife , lisa murray - scarfo , with conspiracy to commit bank fraud and making false statements on a loan application for her role in securing a fraudulent mortgage to purchase a $ 715 , 000 house with proceeds from the racketeering enterprise’s criminal activity . william maxwell’s brother john maxwell , william handley and john parisi are charged with various offenses related to the conspiracy . todd stark is charged with conspiracy to provide ammunition for a 9mm handgun to scarfo .

a number of the defendants were arrested this morning in a coordinated law enforcement effort by special agents of the fbi ; department of labor , office of inspector general ; and the bureau of alcohol , tobacco , firearms and explosives ( atf ) . scarfo , handley , leshner , parisi , adler , drossner and manno were arrested at their residences ; pelullo was arrested in miami ; and william maxwell was arrested at his houston office . mccarthy surrendered to the fbi this morning in philadelphia . murray - scarfo is expected to surrender to authorities in camden . stark and john maxwell have yet to be apprehended . the defendants in custody in the new jersey area will appear this afternoon before u . s . magistrate judge anne marie donio in camden federal court .

“the indictment alleges that mr . scarfo and mr . pelullo used economic extortion and threats of violence to seize and maintain control of a publicly traded company , successfully removing its entire existing board of directors and management , ” said assistant attorney general breuer . “once in control , they allegedly used their criminal enterprise to extract millions of dollars from the company to fund their lavish lifestyles . this prosecution demonstrates the justice department’s resolve to root out the influence of la cosa nostra wherever it exists . ”

“according to the indictment , the defendants gave new meaning to ‘corporate takeover’ by looting a publicly traded company to benefit their criminal enterprise , ” said u . s . attorney fishman . “through rampant self dealing , fraudulent sec filings and more traditional mob methods , the defendants allegedly stole $ 12 million from shareholders . particularly in these economic times , investors should be free to invest in public companies without fear that violent criminal organizations are their puppetmasters . and the public deserves to rely with confidence on corporate officials and professionals whose positions require them to act in the best interest of shareholders , not members of organized crime . ”

“the demise of organized crime has been greatly exaggerated , ” said michael b . ward , special agent in charge of the fbi’s newark field office . “criminal activities have evolved from the back alleys to the board rooms , but the same use of physical threats and intimidation to gain leverage and loot lucrative businesses for personal gain continues to this day . in response , the charges being brought against nicky scarfo jr . , sal pelullo and others represent law enforcement’s commitment to aggressively target the illegal activity of organized crime in any commercial business or venue . ”

according to court documents , scarfo is a made member of the lucchese family and became a member after an attempt on his life in 1989 following an internal struggle for control of the philadelphia family . in the mid - 1990s while scarfo sr . and amuso were in federal prison in atlanta , amuso arranged for scarfo to become a member of the lucchese family as a favor to scarfo sr . as a member of the lucchese family , scarfo was required to earn money and participate in the affairs of the lucchese family .

according to the indictment , following his release from prison in 2005 on an unrelated charge , scarfo was placed on supervised release and required to report to a probation officer . according to court documents , by participating in the affairs of what is described in the indictment as the scarfo - pelullo enterprise , scarfo and other members of the enterprise allegedly engaged in a systematic scheme to deceive and obstruct the probation department and the district court responsible for overseeing scarfo’s supervised release .

according to the indictment , the enterprise succeeded in its criminal objectives with the knowing assistance of adler , drossner and mccarthy – who used their positions as professionals to ensure that the enterprise’s criminal activity was not revealed to law enforcement and regulatory authorities , including the u . s . securities and exchange commission ( sec ) . as a public company , fpfg was required to submit periodic and annual filings to the sec . the indictment alleges that the enterprise , led by scarfo and pelullo , repeatedly submitted false information , or omitted material information , in required sec filings . as a result , fpfg’s shareholders and the investing public had no idea that fpfg was being controlled by members and associates of organized crime . manno , an attorney for scarfo , allegedly abused his position as an attorney to further insulate scarfo and the enterprise by deceiving scarfo’s probation officer and the district court . the indictment alleges that manno’s deception corruptly influenced scarfo’s supervised release by withholding information from the probation office and the district court regarding scarfo’s source of income and his contact with convicted felons .

the indictment details a telephone call intercepted by law enforcement on dec . 5 , 2007 , that illustrates the corrupt nature of scarfo and pelullo’s control of fpfg . according to the indictment , pelullo called scarfo to tell him about the sudden death of a former fpfg executive described in the indictment as “individual # 4 , ” who had provided information to pelullo and william maxwell that they used to extort control of fpfg . at the time of his death , individual # 4 was employed by fpfg as a member of its “compliance team . ” during the conversation , scarfo and pelullo expressed relief regarding individual # 4’s death . after laughing about how he was “crushed” that “the rat is dead , ” pelullo acknowledged that individual # 4 was “the only connection , the only tie to anything . ” as the news sunk in to scarfo , he stated , “oh boy . yeah , sal , you wanna know something though ? . . . that’s one that i know you can’t take credit for . . . [ laughter ] . . . and that’s the natural best thing . you know what i mean ? . . . that is so like enron - ish . you know what i mean ? ”

the indictment alleges that the enterprise’s criminal activity allowed scarfo and pelullo to live lavish lifestyles which included the purchase of an $ 850 , 000 yacht , a luxury home for scarfo , a bentley automobile for pelullo , and thousands of dollars in jewelry for scarfo’s wife , murray - scarfo . as a direct result of the enterprise’s criminal activity , fpfg and its shareholders suffered a loss of at least $ 12 million .

the charges and allegations contained in the indictment are merely accusations , and the defendants are presumed innocent unless and until proven guilty .

the case is being prosecuted by trial attorney lisa c . page of the organized crime and gang section in the justice department’s criminal division and assistant u . s . attorney steven d’aguanno of the new jersey u . s . attorney’s office organized crime / gangs unit in camden . the case was investigated by the fbi’s newark field office ; the department of labor , office of inspector general , office of labor racketeering and fraud investigations , new york region ; and the atf , newark . the fbi philadelphia field office and the sec provided assistance .

( fpfx ) , a texas - based company and a one - time subprime lender that boasted former vice president dan quayle as a board member , and used nfl hall of famer dan marino in its ads .

on tuesday , nicodermo s . scarfo , a made man within the lucchese organized crime family , was arrested at his home . he ' s one of

with the illegal takeover of the publicly traded company , among other racketeering charges . " the defendants gave new meaning to ' corporate takeover , ' " said u . s . attorney paul fishman .

" criminal activities have evolved from the back alleys to the board rooms , " said michael b . ward , special agent in charge of the fbi ' s newark field office . still , the tactics remain the same , he says : " physical threats and intimidation to gain leverage and loot lucrative businesses . "

scarfo is not the only one of the 13 with ties to organized crime . salvatore pelullo , an associate of the lucchese and philadephia la cosa nostra families is also charged , as are nicodermo d . scarfo ( scarfo sr . ) , the imprisoned former boss of the philadelphia family of la cosa nostra , and vittorio amuso , the imprisoned boss of the lucchese family . others charged include an accountant and five lawyers .

. as a result , the public in general , and investors particularly , were left in the dark as to the true nature of the company and its management .

as scarfo grapsed the weight of the news , he said , " oh boy . yeah , sal , you wanna know something though ? . . . that ' s one that i know you can ' t take credit for . . . [ laughter ] . . . and that ' s the natural best thing . you know what i mean ? . . . that is so like enron - ish . you know what i mean ? "

" particularly in these economic times , investors should be free to invest in public companies without fear that violent criminal organizations are their puppetmasters , " said u . s . attorney paul fishman . " and the public deserves to rely with confidence on corporate officials and professionals whose positions require them to act in the best interest of shareholders , not members of organized crime . "

the nanny ' s gut told her something was very wrong . then the dad watched the chilling cctv

homeless man is the only bystander willing to risk it all for a cop . . .

family dog was missing for a month without a trace before their . . .

hungry leopard chases down a baby antelope . . . then does the most . . .

dog is chained outside for 15 years until a freak accident changes . . .

immigrant mother claims 14 - month - old baby was returned to her covered in lice afte . . .

homeless man is the only bystander willing to risk it all fo . . .

employee tells her manager she can ' t come to work since her . . .

mom goes viral after she posts about her " miracle cure " for . . .

the nanny ' s gut told her something was very wrong . then the dad

when this rescued lioness and lion cub first met , what happe . . .

first two boys rescued from flooded thai cave , according to local of . . .

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for inquiries related to this message please contact support . for sales inquiries , please visit urltoken

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indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by section 13 or 15 ( d ) of the exchange act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . yes x no o

indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , or a smaller reporting company . see the definitions of large accelerated filer ,  accelerated filer and smaller reporting company in rule 12b - 2 of the exchange act

indicate by check mark whether the registrant is a shell company ( as defined in rule 12b - 2 of the exchange act ) . yes o no x

negative of such terms . these forward - looking statements are based upon the companys

results to differ materially from those described in such forward - looking statements . the

part ii : other information item 2 . unregistered sales of equity securities and use of proceeds

the company is a diversified company that provides commercial loan , consumer lending , residential and commercial restoration , facility ( janitorial and maintenance ) services , insurance adjusting services , construction management services and a facilities and restoration franchise business . toward this end , the company has made several complementary acquisitions of businesses that are designed to create value through synergy and enterprise - level expertise .

managements focus on rutgers investment has been to qualify rutgers investment in 48 states as a mortgage banker . this process entails applying for mortgage banking licenses in each of the 48 states and thereafter qualifying as a mortgage banker in the particular state . management anticipates that rutgers investment will be qualified as a mortgage banker in approximately 15 states during the fourth quarter of 2008 . the remainder of this licensing process should be substantially completed by year - end .

additionally , as state licensing is completed , the firms target market strategy for residential loans will be on the individual borrower with a credit score on the lower end of the credit score spectrum seeking to refinance for improved terms and debt consolidation .

rutgers investment is presently conducting mortgage banking on a limited basis and has offices in pennsylvania and texas .

rutgers investment and urltoken ( hla ) entered into an outsourced mortgage processing and fulfillment services agreement effective december 31 , 2007 . the relationship proved unsuccessful and the agreement was terminated by rutgers investment on march 14 , 2008 .

in support of rutgers investment , the company , on december 31 , 2007 , issued 10 , 000 , 000 shares of its common stock to rutgers for $ 1 , 000 , 000 that was evidenced by rutgers investments subordinated debenture delivered to the company . this debenture was secured by a pledge of the company common stock that was issued to rutgers .

the company also issued 250 , 000 shares of its common stock to a financing consultant who arranged warehouse line of credit financing effective april 1 , 2008 .

it is anticipated that franchises will be available for purchase during 2008 . buying a franchise enables the owner to offer and provide emergency restoration and cleaning services related to fire damage , water damage and mold contamination , as well as janitorial and building maintenance services under certain proprietary trademarks .

revenue and dividends from investments are recognized at the time the investment dividends are declared payable by the underlying investment . capital gains and losses are recorded on the date of sale of the investment .

interest income is recognized on the interest method . interest income is discontinued when management determines future collection is unlikely . loans are placed on non - accrual or charged - off at an earlier date if collection of principal or interest is considered doubtful .


cebu ferries was a shipping company based in batangas city and cebu city , philippines .

its hubs were batangas port in batangas and pier 4 in cebu city .

it is now part of 2go travel .

formerly the shipping company was a subsidiary of william gothong & aboitiz , better knowns as wg&a .

when wg&a split up , jon ramon aboitiz retained cebu ferries and the shipping company ’s sisters supercat fast ferry corporation and superferry .

carlos a. gothong lines went back to shipping .

cebu ferries eventually became part of the aboitiz transport system which was purchased by negros navigation , which in turn was purchased by the chinese government through its wholly owned private equity firm the china-asean investment cooperation fund and renamed 2go travel .

cebu ferries

cebu ferries <EOT> to date , cebu ferries operates the following vessels : cebu ferry 1 , cebu ferry 2 , and cebu ferry 3 .

taking a late ferry 7 pm from cebu to bohol . ( lite ferries ) - cebu island forum

taking a late ferry 7 pm from cebu to bohol . ( lite ferries )

taking a late ferry 7 pm from cebu to bohol . ( lite ferries ) - cebu island message board - tripadvisor

re : taking a late ferry 7 pm from cebu to bohol . ( lite ferries )

cebu ferries corporation is a shipping company based in cebu , philippines . it is a subsidiary and an alternate shipping company of aboitiz .

cebu city port is located on the south east coast of the city . ferries from cebu city go to manila and cagayan de oro .

cebu ferries started with modest beginnings in january 1996 . the shipping company was formerly a subsidiary of wg & a . when wg & a split up , aboitiz took cebu ferries and its sister companies supercat and superferry . cebu ferries’ vessels provide comfort and a home right at sea and extend the best of services to their passengers .

hi may i know hom much fare suv ( trailblazer ) on board cebu ferries from nasipit to cebu and if surigao to cebu . and how many passenger free or how much is the passage ? thanks for any reply

ask lang if ung schedule nyo na cebu to ormoc pwede ba masakay ang motorcycle sa vessel and how much is the rate . . . 150cc ung motorcycle . . . at anong pier sa cebu itong cebu ferries . . tnx

would like to ask if your accepting vehicle passenger from manila to cebu then cebu to ozamis afterwards . tnx

are you planning to travel in the visayas and mindanao region ? check the lite ferries destinations as they have ongoing travel promos on some routes . lite ferries , owned by lite shipping corporation are ships traversing the visayas and mindanao area . right now they have boat ticket promos for the cebu to tagbilaran , cebu to tubigon , cebu to [ … ]

* lite ferries bohol to cdo , cagayan de oro city to bohol are also available .

a merger always produces some kind of excess if duplications are eliminated . in wg & a , a surplus of ships especially of older ones became apparent . although cagli and william lines has a slew of overnight ferries in the visayas - mindanao routes before the merger , a host of old ships were also transferred to cebu ferries . to make the mix more attractive , a newly - fielded ship was also sent to cebu ferries , the mv our lady of lipa to hold the premier cebu - cagayan de oro route . if fielding is the gauge along with ship attributes then she could rightly be considered as the first flagship of cebu ferries .

here ' s a schedule of cebu ferries voyage ( daily schedule ni sa ilang biyahe - shipping guide ) . find the place of your origin and destination below .

everything cebu has been one of the leading cebu blogs since 2009 providing information on cebu ' s hotels , resorts & beaches , events , restaurants , people and everything in between . we hope you enjoy reading .

this article is meant mainly for young readers who were not yet of age 20 years ago when cebu ferries corporation made its grand debut . it would have been the 20

check below for the list of trip schedule of lite shipping corporation including lite ferries and lite jet .

now , nothing is left of cebu ferries and not even its own terminal in cebu port . they do not use that name any more and more and more no trace is left that they were once grand . on the other hand , the competition they left behind is doing good business and not only in the passenger side but also on the cargo side . and that , folks , was the sad end of cebu ferries .

good afternoon , may i inquire fare options of cebu ferry 01 schedule for monday cebu to cagayan at 8 o ' clock in the evening . thank you .

cebu ferry 2 ( now st . anthony of padua ) © vincent paul sanchez

buy lite ferries promo tickets or regular fares at their office in barangay tinago , cebu city , thru their ticketing outlets , or at pier 1 or pier 2 depending on your routes . when buying tickets , ask the lite ferries passage tellers in which pier you will board the boat for your route .

a total of 15 routes . even the trans - asia shipping lines and cokaliong shipping lines of today combined do not have the same number of frequencies and routes . this did not even include voyages of wg & a ships from cebu to ports also served by cebu ferries .

mv don calvino ( to starlite ferries ) . mv our lady of lipa will also be transferred to wg & a . however , some and better ships from wg & a will be transferred to cebu ferries to compensate . among these are the mv masbate i ( which will be known as the mv our lady of manaoag in cebu ferries ) , the mv our lady of good voyage and later the much bigger mv maynilad ( known as mv our lady of akita 2 later ) and the mv superferry 11 ( known as mv our lady of banneux later ) . and these were all former liners . the liner mv our lady of sacred heart will also do a stint in cebu ferries .

cebu / boracay / palawan . . . ? which island is better . . ?

to know more about cebu ferries corporation , you may visit their web site : urltoken . or if you want to know the shipping schedule , you may use this link : urltoken schedules . asp .

this is an updated post on lite ferries trip departure schedule and boat fares for the various destinations in visayas and mindanao .

this time works well for me as my flight lands at cebu at 4 : 30 .

cebu city is a highly urbanised city in the island province of cebu in central visayas , philippines . cebu city lies on the mid - eastern area of cebu island and its bustling metropolitan hub is second to only metro manila ( luzon ) in popularity . cebu city ' s metro cebu includes the cities of carcar , danao , lapu - lapu , mandaue , naga and talisay plus the towns of compostela , consolacion , cordova , liloan , minglanilla and san fernando . cebu city was the first capital of the philippines , the country ' s oldest city and the first spanish settlement . the city has strong links to domestic maritime activities and with its very own port means cebu city has good transport links to manila and cagayan de oro .

starting in 2007 and until 2010 cebu ferries acquired three ships that comprised their cebu ferry series . however , this was not a net addition since the company also sold their older remaining ferries . in february of 2012 , the company pulled two of their three remaining cebu ferry ships and transferred them to batangas to do overnight routes from there . they thought they can earn better revenues there . only mv saint anthony de padua was left in cebu and sailing with her with a fellow ship spotter we observed she doesn’t have a decent amount of cargo anymore . in surigao , they didn’t even bother to deploy the roro ramp . not long after , that ship was also pulled out from cebu too and transferred to manila to become a small liner .

good eve , i ' d like to inquire the fare price for cebu ferry 2 , nasipit - cebu friday @ 6pm . . we ' re planning to travel on march 11 2016 . thanks

we were on a ferry out of cebu to siquijour that broke down , luckily weather was fine .

cebu ferries offers excellent accommodations and facilities . the vessel is fully equipped with air conditioned and non - air conditioned rooms that passengers can choose from . its facilities include a sun deck , quick mart , videoke bar , and a clinic .

anniversary of the company this year ( 2016 ) but they are no longer around . to complete the picture , i would soon re - upload an article about the start of the parent company of cebu ferries , the wg & a shipping company , the biggest shipping company the philippines has seen in the inter - island routes . cebu ferries was also the biggest ferry company that ever existed in the visayas - mindanao routes . that was how great they were – in size .

the sale of ats ' to nenaco includes all of its shipping and logistics businesses , namely , superferry , supercat , cebu ferries and 2go , aboitiz equity ventures inc . ( aev ) , the listed holding firm of the aboitiz group said .

thru their ro - ro vessels , lite ferries transport passengers and cargos ( trucks , cars , buses ) to the above - mentioned destinations .

archipelago philippine ferries corporation 6th floor unioil center bldg . , commerce avenue corner acacia avenue madrigal business park , ayala alabang , muntinlupa city , 1780

you can also visit personally the office of lite ferries in mj cuenco avenue , cebu city . no online booking available yet for this shipping company . book and buy your tickets in any accredited ticketing agencies or at their main office and satellite offices .

below you can find all the cebu city ferry timetables , journey times as well as our best prices .

i agree with al22tecc . why not stay overnight in cebu and catch the first fast craft the next day ? there are many things that can be seen and do in cebu by the way for an overnight .

as what jim said , transasia and cokaliong aside from cebu ferries / wga are you best options between northern mindanao and cebu . if you are coming from southern mindanao , its best to take the plane . but even the route between northern mindanao and cebu are adequately served by different airlines . if you book early and target promo fares from airlines which comes out quite often , you may be able to get a deal that is even cheaper than what ships charge .

i have never had a problem with smaller ferries ( such as supershuttle between cebu and negros , or between jagna , bohol and camiguin island as two examples of trips that i have done . nor have i had any problems with transasia , superferry or cokaliong .

since former liners were transferred to cebu ferries , the new company opened a lot of new routes from cebu not formerly served by cagli and william lines or even by aboitiz shipping when it still had cebu - leyte routes . maybe they were maximizing the old ferries before they were let go . probably they also want to drive out the competition . maybe it was a mixture of both but whatever , middle level managers have their own drive especially when they know that they necks could be on the chopping block . if mergers can have an excess of equipment , it also have an excess of managers and supervisors when duplications are removed .

archipelago philippine ferries corporation ( apfc ) was founded to provide a vital maritime link between the philippines’ 7 , 107 islands . since its incorporation in 2002 , it has become a trusted shipping company that owns and operates the philippines’ first and only catamaran roll - on / roll - off ( roro ) ferries…

below , you can find all the cebu city ferry timetables , journey times as well as our best prices .

thanks for the info . i want a ferry that has a very late departure time from cebu to tagbilaran .

my last recollection of pier 1 is for fast ferries around the pier section jutting out and cokaliong shipping to the side with all their boats stern in .

can tx me dz no . 09227507834 , , i just want to konw if pilay plete cebu - ozamis ? /

cebu city is the capital city of the province of cebu and is considered the second city of the philippines . cebu city port can be found on the east coast of the island , and south east of the city . it is a metropolitan area , and offers a visitors the chance to visit temples , museums , shopping centres and hiking trails .

cebu - iligan ( 6 times a week ) : mv our lady of mt . carmel and mv our lady of guadalupe ( alternating )

cebu - ozamis ( 6 times a week ) : mv our lady of the rule and mv our lady of mt . carmel ( alternating )

the office of lite ferries is in 14 g . l . laviles st . corner m . j . cuenco avenue , tinago , cebu city . you may call their office on these phone numbers : ( 032 ) 255 1721 to 26 ; ( 032 ) 414 9001 to 13 / mobile numbers : + 639778225483 ; + 639989995483 ; + 639253475483 .

here’s a list of all major ports offering passenger trips in cebu . click a particular pier to know its location and the shipping companies operating there .

archipelago philippine ferries corporation is guided at all times by its core values ; f ocused , a ccountable , s afety conscious , t eamplayer , c ommitted , a ttentive to customer expectations and t rendsetter .

samboan , cebu to sibulan , negros or . - daily at 5am / 8am / 10 : 30am / 12 : 30pm / 4pm / 7pm / 9pm

good day ! my husband and i are scheduled to go home from cebu to cagayan de oro city on 16 sept . 2013 . we would like to inquire how much our fare with cebu fery 1 and accommodation . how to book online . hope to hear from you soonest . thank you and god bless .

sibulan , negros or . to samboan , cebu - daily at 6 : 30am / 9am / 11 : 30am / 1 : 30pm / 5pm / 8pm / 10pm

what ever the ruling of the eu on philippine - based airlines , it pales into insignificance compared to the safety of ferries , most of which are over 30 years old and have been sold off by other countries as unseaworthy .

i ' ll be in the traveling in visayas in february , and , will have a friend who will need to travel from mindanao to cebu to meet me there .

you can sail with lite ferries and lite jet for inter - island travel in the visayas . this shipping company service the routes argao , san carlos city , toledo , jetafe , tubigon , ormoc , tagbilaran , jagna , and lon .

cebu - ormoc ( 6 times a week ) : mv dona lili , mv our lady of the rule , mv iligan city and mv our lady of mt . carmel ( alternating )

however i try to avoid using ferries in the typhoon season to or from luzon . as the main filipino island , luzon tends to be more subject to typhoons than most of the visayas ( exception for latter i gather may be leyte and samar ) .

if the merger of three great shipping families was an earthquake to the local shipping scene then the divestment of two of the three families was an earthquake to wg & a and cebu ferries . that divestiture meant ships , both ferry and cargo have had to be sold . almost none of these sold ships survived and most went straight to the breakers . with these disposals , there won’t be replacements anymore from wg & a since the mother company was also selling ships so the chiongbian and gothong shares can be paid off . routes have to be abandoned and frequencies reduced . wg & a ( and later the successor company aboitiz transport system or ats ) tried to cushion this by also scheduling their liners in the cebu ferries routes . but this just had a limited effect and in 2007 ats sold their four best ferry liners to take advantage of the high steel prices then in the world market .

i think my post was too " localised " in that i was paying too much attention to services between palawan and manila . ( the ferries on that route are 38 years old ( superferry 2 ) , and 35 years old ( st joseph the worker ) .

hello . . may i ask ? ? im looking to buy or reserve a ticket for nov . 18 - 20 , 2016 cdo to cebu then vice cersa . . how much will it cost ?

2go travel ferries offer a wide variety of services and facilities . depending on the ship , on board you will find dining areas , shops , a spa and salon and a function room . whichever ship you ' re on , you can guarantee beautiful views and a smooth journey .

the shipping vessels of lite shipping corporation sails to these destinations : cebu ( cebu city , mandaue ouano wharf , toledo city , argao , samboan , bohol ( jagna , tagbilaran & tubigon ) , siquijor ( larena ) , negros oriental ( sibulan ) , negros occidental ( san carlos city ) , leyte ( ormoc ) , misamis occidental ( plaridel ) , butuan ( nasipit ) , cagayan de oro , dapitan city .

hello . . . good day ! me and my classmates will be travelling from nasipit to cebu on may 28 , 2014 . . . we would like to know how much is the tourist fare for each passenger ?

if you have queries or comments , please reach out to lite ferries corporation at telephone numbers ( 032 ) 2551721 to 26 . for freight & passage direct link you can also call this number ( 032 ) 2540383 for their roro facilities and rates , call mobile number ( 0917 ) 631 5060 .

welcome to our cebu ferry schedules . we will continue to keep these pages as up to date as possible . if you find some incorrect or out of date information , please let us know so we can update it .

if weather is not good , dont get on . . . . and because one person or more have never had a problem , it means squat when compared the number of accidents over the years in the philippines . . . we use ferries still for short trips , longer trips will find cheap airfares .

good day ! ma ' am / sir , ask lang po kung may shipping po ba bukas from cebu to iligan , ozamiz or cagayan . how much is the fare ? ? please reply asap . thanks and more power .

i want to take a motorbike and seidecar from butuan city ( nasipit ) to dumagute city , but i believe there is no direct route to do this can i take it to cebu or tagbilarin . and teh to dumaguete city

good day ! i just want to know if my byahe ba bukas even if there is a low pressure area from cebu to nasipit and me i know how much the ticket for 1 person in economy accommodation only ? please email me tanx . . . .

if maybe there is one thing that helped the competition survive and still have patronage is maybe because they offer cheaper fares . cheaper fares are always a big decision point for the poor filipinos especially those taking the economy class and that is the majority of passengers . the training of the hospitality / service crew of cebu ferries was maybe superior but in an overnight ship that was not too much apparent . actually , if cheap linen was made available free to passengers of all classes that will have been more appreciated or if they gave free coffee in the morning especially if with biscuits to go . those things mean more to the heart of the pinoy passengers rather than smiles and “yes , sir” all to often .

lite shipping from cebu to tubigon travel time is between 3 - 4 hours vs fast craft travel time of 1 hour . lite shipping for tubigon is at pier 1 . tubigon to tagbilaran is 50kms and will take more or less 1 hour land transfers . there are a lot of vhire vehicles plying this route .

last trip departs 635pm . if you can make this trip , this is a fastcraft vessel , 2 hours travel time . this is the last trip for the day for any fastcraft type vessel . there is lite shipping cebu to tagbilaran , this one takes 4 - 5 hours travel . there is a 10pm departure .

can someone speak more about recommended ferries ( safety , etc ) from negros occidental to bantayan island ? ports to and from ? how to reach these ports ? coming from cadiz . . . escalante port ? safe ? a " boss " told my gf ' s sister ' s husband there are dangerous " holdaper " ' s at these ports ? can someone debunk or confirm this ? are buses safe to travel to these ports ?

hi good day . . . i just wanna know if pila ang plete sa motor single or motorbike from cebu to ozamis . ? ? . . do you hav promo ticket this coming week after the election or i say may 15 to 20 . . . . pls i need the info as soon as possible . . . .

one big penalty , however , of using former liners in overnight routes is the higher fuel consumption because of the big engines . it might have given an advantage of earlier arrivals but to passengers just bound for the port cities or nearby it does not mean much or anything at all . that only means a lot to passengers which have still long connecting land rides . and with its big passenger capacities , the former liners are hard to fill anyway . however , the extra space and amenities was a boon to all passengers ( like that might mean not taking the upper bunk ) . but in the end , the higher fuel cost was one burden that the company cebu ferries carried on their shoulders alone . if they charge extra for the fuel , the passengers will choose the ships of the other companies .

never been on the boat to tubigon . and you won ' t find many foreigners who have travelled that route as they mostly travel cebu city to tagbilaran . i can say this though . the fast ferry starcraft , does the journey in about an hour . so , i am thinking a slow ferry will be between 2 and 3 hours .

good day maam / sir , i would like to ask if there ' s an available ticket from cebu to surigao good for 1 person only in economy accomodition and how much is the fare ? im planning to travel tomorrow . heres my contact number # 09464234972 . thank you maam / sir , , , waiting for your reply maam / sir . . . .

manila , philippines ( update ) - a private equity fund controlled by the chinese government will become the country ' s largest ferry operator as a result of deals announced by 2 major domestic shipping firms on wednesday .

the aboitiz group is selling its entire 93 . 2 % in shipping and logistics unit aboitiz transport systems corp . ( ats ) to rival negros navigation co . inc . ( nenaco ) for $ 105 million .

the deal will make the soon - to - be chinese - owned nenaco the biggest ferry operator in the philippines , with 31 vessels .

aboitiz officials said that china - asean marine bv will take a controlling stake in negros navigation through an equity infusion simultaneously with the ats - nenaco deal .

china - asean marine is a wholly owned unit of the china - asean investment cooperation fund , a dutch - based private equity fund launched by the china export - import bank , the joint statement said .

the fund , announced by chinese prime minister wen jiabao last year , targets infrastructure , energy and natural resource investment opportunities in the 10 - member association of southeast asian nations ( asean ) .

the twin deals are expected to be completed in january next year , the statement said .

the size of china - asean marine ' s equity infusion into negros navigation , a privately held philippine firm , was not disclosed .

however erramon aboitiz , chief executive of ats ' s listed parent firm , aboitiz equity ventures , said china - asean investment cooperation fund would become negros navigation ' s largest shareholder .

" we are very pleased to transfer the ownership of ats to nenaco and its principal shareholders , the chinese - asean investment cooperation fund , " aboitiz said in a separate statement .

nenaco chief executive sulficio tagud said his company now operated 8 vessels in 13 ports , while ats operated 18 vessels in 19 ports .

" with a strong balance sheet , the joint team is confident that the increased resources of the combined company will enable us to provide innovative services , enhanced frequency and improved customer care , " tagud said .

only the joint venture firms with the jebsen group of norway will be spared , aev added .

ats will sell the joint ventures - - aboitiz jebsen bulk transport corp . , aboitiz jebsen manpower solutions inc . and jebsen maritime inc . - - to aev for a total of p355 . 91 million .

ats will also sell its 50 % interest in chartering company jebsen maritime limited to aco for p44 million .

meanwhile , aev said that in accordance with the securities regulation code , nenaco will make a tender offer for all ats shares owned by the public at the same purchase price to be paid the aboitiz group .

" the purchase of the public shares shall coincide with the closing date of the securities purchase agreement unless the securities and exchange commission approves that the closing of the tender offer shall occur at a later date , " aev said .

read more : aboitiz business deals negros navigation co . inc . aboitiz equity ventures inc . aboitiz transport systems corp .

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is there any website where i can book for a ticket ? thank you .

pwd magtanong , magkano po pamasahi from cagayan de oro city to dumaguete city po ? and schedule po , . this month po ang byahe ko ! ! salamat poh salama

sir have a nice day . . i ' m inquiring if there is trip from dumaguete city to cagayan de oro city . . if there is . . when the schedule sir / maam ?

ood evening sir / madam ; may i have the honor to apply in your company as a one year apprenticeship because it is one of my requirement to finish my bachelor of science in marine transportation at zamboanga state collage of marine and science technology . i do my best and sincere to serve in your company and its big help for me to fulfill my dreams to finish my course . thank ' s and more power . and god bless . . . ( to find me , here ' s my comtact number 09079660987 )

. . . can u pls text me in this no . . . . 09307572340 . . .

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only one bicycle can be booked per ticket . if you wish to book more than one bicycle you will need to make a separate booking for each bicycle . .

something on the roof , e . g . roof box , bikes etc ?

sorry , we don ' t have any sailing information or timetables at the moment . this might be because this route is seasonal or we don ' t sell it at the moment . for a wide range of alternatives , see our ferry routes page .

the port features a spacious air - conditioned terminal , which has a canteen inside for you to relax in and have a refreshment before your departure . there is also a wi - fi connection .

the easiest way to get to the port is by taxi , which can be easily found and are reasonably priced . however there are other options . there are a few different buses you could get , depending on your start location , which go very close to the port . or if you fancied something completely different then you could jump on a local colourful " jeepney " .

supercat 22 leaving the berth @ calapan city , oriental mindoro , philippines . mp4

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we bring you the latest news and updates on philippine passenger boats , schedules , as well as promos .

plaridel , misamis occ . to tagbilaran ( via larena , siquijor ) – 12noon sun / tue / thu

you may send email at info @ urltoken for inquiries . for more info , check their website : www . urltoken . ph .

contact their office if you will be bringing your car or cargo . advance booking for cargos should be made at least 3 days before departure dates .

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from all that i have read , safety of the ferry system is pretty much a hit or miss proposition , don ' t get on if it looks over crowed , don ' t get on if the weather is bad , find your pfd and try it on , know how to get off , don ' t count on the crew knowing how to use emergency equipment or how to deploy the lifeboats , etc .

if you cancel your booking at least 24 hours in advance , you ' ll receive a full refund .

go with superferry or negros navigation . they have fewer problems than the rest .

i made one long trip on a ferry and will never do so again .

if you do decide to go by ferry , take note of what fsrp01 said , and avoid ships of the " psacc " line ( mv princess of the earth , and mv princess of the south ) .

psacc is the new name of sulpico lines , world record holder for the largest number of fatalities in one maritime accident - 4375 .

my favourite is a presidential suite on trans asia . the presidential suite has a private bathroom , aircon , tv with dvd player , room service , mini bar , private balcony on the side of the ship and in room massage .

there are still ferry disasters but it seems to me in the last few years the news has been about every being saved or if some one did die , it was because they jumped overboard and drowned instead staying on board and being saved .

i have noticed a definite improvement in maintenance on all the boats and ships i have travelled on in recent years . also , boats where you never saw a life vest previously seem to be over flowing with them now .

i am not a fan of sea travel but if ever i would avoid traveling during the peak months of summer ( march - may ) and december including the rainy months of june - october . . . in other words i would consider traveling during february .

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3 . it is an ok ferry . it is a slow ferry by the way .

i thought it was pier 3 . that is where most boats to tubigon leave from .

please note that i am only taking this ferry because is has the late departure time . and it works with my schedule . but if anyone knows another more " tourist friendly " ferry that operates with late departures i am willing to try to them .

after i arrive in tubigon i need transportation to a hotel preferably near chocolate hills . i haven ' t planned that part completely yet .

that would be difficult as you ' d arrive in tubigon late at night , and most of the best hotels are in panglao which is far from chocolate hills . that case you have to plan your transport there , when you arrive in tubigon . there is a lot of material here in the forums .

if your purpose is chocolate hills , among other sites , it is still best to be based in tagbilaran .

i would not gamble on the 7pm boat trip if i arrive almost 5pm . it is like rush hour , and you ' d pass by mandaue area . it can be done of course , if everything ' s fine .

i also agree with the others . . . why rush . just get the fast ferry .

our vision is to contribute to nation - building by being the industry leader and standard setter in the ferry transportation business .

our mission is to connect the philippine islands and neighbouring countries by providing safe , fast and convenient ferry transport system for passengers and cargo with international standards .

kindly chat me the schedule on oct . 28 , 2017 . nasipit to hagna or any route that from nasipit… . thank u

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in the year 1995 , when there were rumors ( which turned out to be false ) that foreign shipping companies will be allowed to sail the inter - island routes , william lines inc . ( wli ) , carlos a . gothong lines inc . ( cagli ) and aboitiz shipping corporation ( asc ) bandied together and had an agreement to merge . on january 1 , 1996 , the new shipping giant officially emerged and it was called the william , gothong & aboitiz , inc . or wg & a , inc . fleets were merged and routes were rationalized and the aboitiz jebsens way of sailing with few in - port hours but with maximum maintenance was implemented in the new company .

a string of new routes were created by the new company . some routes have never ever existed before and some routes were not in their former portfolio . with this drive , the competition felt a pressure they never ever felt before because this new company was the offspring of a giant and in itself it was also a giant relative to

visayas - mindanao waters . if fear can only be quantified and acknowledged this was the new word in the vocabulary of competition from big to small . oh , what deep pockets and what a great fleet !

mv our lady of lipa ( from cagli ) : built 1971 , arrived 1995 , 124 . 2 meters x 16 . 8 meters , 6911gt , 4693nt , 1650 pax , 18800hp pielstick , 20 knots , liner

mv our lady of the rule ( from cagli ) : built 1970 , arrived 1992 , 114 . 7 meters x 19 . 0 meters , 3875 + gt , 2250nt , 1170 pax , 8000hp pielstick , 14 knots

mv our lady of lourdes ( from cagli ) : built 1972 , arrived 1987 , 101 . 0 meters x 19 . 2 meters , 2991 + gt , 1091nt , 1270pax , 8200hp hanshin , 14 knots , ex - liner

mv our lady of fatima ( from cagli ) : built 1972 , arrived 1987 , 101 . 0 meters x 19 . 2 meters , 2962 + gt , 1091nt , 1239pax , 8200hp hanshin , 14 . 5 knots , ex - liner

mv our lady of mt . carmel ( from cagli ) : built 1972 , arrived 1988 , 82 . 6 meters x 14 . 4 meters , 2103gt , 1234nt , 1007pax , 4800hp daihatsu , 14 knots

mv our lady of guadalupe ( from cagli ) : built 1973 , arrived 1986 , 89 . 7 meters x 14 . 4 meters , 954 + gt , 459nt , 674pax , 5400hp niigata , 13 knots , ex - liner

mv iligan city ( from william lines ) : built 1968 , arrived 1987 , 83 . 0 meters x 12 . 0 meters , 1512gt , 562nt , 635 pax , 3800hp mitsubishi , 14 knots , ex - liner

mv misamis occidental ( from william lines ) : built 1970 , arrived 1970 , 88 . 9 meters x 13 . 4 meters , 1998gt , 1054nt , 650 pax , 13 knots , ex - liner

mv dona cristina ( from cagli ) : built 1969 , arrived 1985 , 71 . 4 meters x 13 . 6 meters , 983 + gt , 533nt , 400pax , 14 . 5 knots ( no photo )

mv don calvino ( from cagli ) : built 1968 , arrived 1980 , 62 . 6 meters x 13 . 4 meters , 881 + gt , 208 + + nt , 758pax , 11 . 5 knots

mv dona lili ( from cagli ) : built 1967 , arrived 1980 , 69 . 0 meters x 12 . 0 meters , 856 + gt , 448nt , 732pax , 12 . 5 knots

a total of 11 vessels . if the list was dominated by cagli , it only showed that before the merger carlos a . gothong lines was actually the one among the three partners in wg & a that had a stress on the visayas - mindanao routes ( while the other two stressed routes from manila ) .

psss discussions proceed here for psss discussions . currently hosted on the psss flickr page .

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