Anyone who knows anything about the Whttington brothers is hardly surprised by this. They were busted years ago. Now it looks like they upped their game. 10m in one account only!. “CS1 believes that Don and Bill Whittington operate their business as follows: they will negotiate a contract with a DTO or a representative broker acting on behalf of a DTO to lease an aircraft to the DTO. The Whittington brothers will draft a contract which requires a large amount of money to be deposited for the aircraft.” The affidavit continues, explaining that the contract is often drafted as a lease-to-buy option, with the sale price or deposit required often being more than the aircraft is worth. “In return for the inflated price,” the affidavit states, “Don Whittington maintains the aircraft in his or a third party name, and keeps the U.S. tail number on the aircraft. After the DTO has finished using the aircraft for an unspecified period of time, the aircraft is returned or ‘repossessed’ by World Jet, Inc. In the event that the aircraft is seized pursuant to a narcotics interdiction, both parties can deny responsibility and World Jet, Inc. can reclaim the aircraft as they hold the financial lien.”
Posted on: Thu, 28 Nov 2013 05:16:47 +0000
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