Rob Gray the owner of freelakotabank is a scam artist! He is based out of Texas...lol. The bank is not licensed or connected to the tribe or Lakota people. Literally one ponzi scheme guyIn 2008 Rob solidified the URL for Free Lakota Bank. This is even before launching AOCS, Mulligan Mint or any of his other entities. What made this unique is there was no, and still is no physical location. It is simply a PO Box, has ZERO to do with the Lakota people, Pine Ridge, or any physical location in South Dakota or any State for that matter. Simply put, it’s a PO Box in South Dakota that Rob would clear out once a month, take the silver that was sent in, sell it, and live off the money. ZERO loans are made out of this bank.
Instead of paying depositors interest & making loans to people at a higher rate of interest (simple S & L banking business model) Rob instead would live off depositors money & use other deposits to start his companies, in simple terms an embezzling Ponzi scheme. No Bank, no loans, no tribe, no safe, no vault, just a guy in front of his computer buying a URL & going up once a month to clear out a PO Box.
After about a year, the silver was coming in to slow to the bank, so Rob then decided to open AOCS, the beauty of AOCS is it allowed Rob to start taking checks & bank wires. See AOCS was the official Mint for the Lakota Bank, & the bank claims it “doesn’t touch federal reserve notes”. Yes, instead Rob gets the Federal Reserve Notes (Your Cash) through AOCS, then from his same computer switches to your Lakota Bank Account & sends you an email saying there is silver in your account.
The silver is never bought, the silver is never minted. It is simply spending money for David & Rob Gray. Almost everything is under Davis Gray’s name. Bank accounts, trusts, entities, etc. Rob’s past is so bad he can’t get a credit card, open a bank account, or get approved for anything.
This all functioned fairly small time (six figure operation) until sometime in early 2012. Rob who previously was running the bank, AOCS, & 8 other entities bogus entities had to take a job in the Ionizer business again because he was broke. Then mysteriously he went from broke & struggling to make his 4 man payroll, to a $250,000 miracle. A depositor must have came through out of thin air, Rob had landed the Hail Mary he’d been waiting a lifetime for. Literally within a month 2 period after receiving the victims money he & his family took a 20,000 dollar European cruise vacation (safe to say the depositor doesn’t know) & Rob & David put 150,000 dollars into a new trust they created called SLV PROPERTIES. The Grays were now had their very own building, strange that they would form an offshore trust to buy a piece of land with depositor money, that would imply fraud, embezzlement, money laundering, & a Ponzi.
In simple terms, Gray & his brother take in wires & checks through AOCS, never buy or mint the silver, vanish the money right away & buy assets under other trusts or entities & then tell depositors they have silver in their account. The danger in this doesn’t require a Wharton business degree to acknowledge. Gray now can bankrupt the Free Lakota Bank, & when depositors go to liquidate the banks assets there is nothing there to liquidate.
The deposits grew larger & larger the last year with all the attention that came from Ron Paul, Retail Partners, & affiliates. Now what you have are not only depositor money being embezzled & laundered, but investor & partner money doing the same. There is ZERO segregation, only Rob & David know where all the bodies are buried. Offshore, airplanes, Mansions, cars, motorcycles, etc. Its going to be a bloodbath with whomever is left holding the bag…..
FOR MORE INFOhttp://news.sd.gov/newsitem.aspx?id=14177
