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Hal Chorney

 

Who Is Hal Chorney?

 

RECENT CITATIONS

 

I.

HAL THE AUTHOR

 

 

Hal is the author of Pie-rats, Those Who Plunder You In Bankruptcy.  This work is part memoir and part exposť.

 

All of the stories and experiences about Hal being a family man, an educator, tangibles expert, business innovator, financial privacy advocate, military man, patriot, media personality, bankruptcy reform advocate, retirement program advocate, consumer protection advocate and lastly a convicted felon who refused to roll over and reveal the personal and confidential information about his clients are contained in Pie-rats, Those Who Plunder You in Bankruptcy. 

II.

HAL THE FAMILY MAN

 

Hal is a junkman’s son, the third son of four sons to immigrant parents from Romania and the Ukraine who came to America to escape oppression and in search of the American Dream.  Hal’s childhood, family values and work ethic were instilled into him and his brothers as described in the early chapters of Pie-rats, Those Who Plunder You in Bankruptcy.  Hal tried to lay the framework of individual rights, fair play and traditional values for his two children by supporting them in their activities such as the Cub Scouts, public school events and religious activities.  Hopefully Hal’s four grandchildren and others will benefit from these same family values. 

 

PRICE TO PAY

When you have convictions, there is a price to pay.    It is even more strange in my case since the word “conviction” has more than one meaning:   the act of proving that a person is guilty of a crime in a court of law; or a strong belief or opinion.  Both are true in my case.  I was found guilty of a crime in 1993, and I also had strong beliefs that the legal system was rigged and that the basis for being convicted of a crime of not having enough assets given to Eastland Bank for collateral for a 2.5 million dollar loan, were not true and bogus.

 

Back in 1999, my brother and his wife were celebrating their 40th anniversary by holding a family cruise.  My three brothers, my son and daughter, my son-in-law and their two children, my nieces and nephews, cousins and others went on the cruise.  I wanted to go, but I didn't.  I was serving a three-year probation after being released from Lexington Federal Medical Facility on December 1997.  When I asked my probation officer, in possession of my passport, if I could go on this cruise with my family, it eventually went to court where Judge Mary M. Lisi, District Court Judge in District of Rhode Island ruled on the matter as to whether I could join my family on this cruise.  Mary M. Lisi said that I could go if I promised to pay the government $50.00 per month in restitution for my alleged crime.  The restitution was almost $600,000.  Assuming a zero interest rate, it would have taken me around 1,000 years to pay the $600,000. 

 

On principle I would not voluntarily pay any restitution to the government for a crime that I did not commit.  I could have reduced my prison sentence by claiming “responsibility” for my alleged crimes.  But I stood tall and refused.  I had always claimed that no crime had been committed and that there was never any shortfall to Eastland Bank, the alleged victim, which was the basis of my sentence.  It wasn’t until May 16, 2011 when I discovered that there was $35,513,900 in the assets of my company, Cumberland Investment Corporation, that were abandoned.

 

NOTE: On or abut June/July 2014, in conjunction with my third Supreme Court filing, I sent letters to about 40 Congressmen.  Only one responded, his name, Bernie Sanders, Chairman of the Committee on Veterans’ Affairs.

 

III.

HAL THE EDUCATOR

  • AIR FORCE INSTRUCTOR AND FLIGHT EXAMINER

  • SECONDARY SCHOOL TEACHER OF MATH AT WOONSOCKET JUNIOR HIGH SCHOOL

  • FOUNDER OF THE MONEY SCHOOL OF BOSTON, INC

  • MODERATOR OF THE MONEY SCHOOL RADIO PROGRAM ON WKTP, NATICK, MASSACHUSETTS

  • BOARD OF GOVERNORS OF NATIONAL CENTER FOR FINANCIAL EDUCATION

  • FOUNDER OF THE NATIONAL CENTER FOR BANKRUPTCY    ACCOUNTABILITY

Family values included an emphasis on education and hard work as a means of acquiring wealth and stature to get ahead.  Hal worked hard and studied hard.  He attended Tolman High School in Pawtucket, Rhode Island and graduated in 1957.  Subsequently Hal went to Brown University, class of 1961, where he might be described as not the typical Ivy Leaguer being a bodybuilder and going to Brown on his Triumph motorcycle.   Hal joined Air Force R.O.T.C. and entered into marriage while at Brown where his wife pinned on his rank when he became a commissioned officer.   

 

After graduation from Brown with a bachelor’s degree in Russian Studies, Hal entered the Air Force as a transport navigator.   After flying thousands of hours, Hal was made an Instructor, teaching courses on navigation and weather.  In 1967, when Hal left active duty, he began to teach 9th grade math at Woonsocket Junior High School until 1976.  During this time period Hal had to take educational courses at University of Rhode Island Extension, Bryant College and Providence College to obtain his Provisional Teacher’s Certificate.   At the same time Hal was teaching, he flew C-124 cargo aircraft with a reserve outfit, 731st ATS, in Bedford, MA before he started his full time coin business.  Even then, Hal always remained the Educator while in business, helping boy scouts and cub scouts earn merit badges in coin and stamp collecting.

 

In 1984, Hal incorporated a not for profit corporation, The Money School of Boston, Inc. to hold presentations to give information versus advice on financial investments.  The first speaker that was on this program was my friend Loren Dunton, the founder of the National Center for Financial Education and the International Association for Financial Planners, as the College for Financial Planners.  Loren was known as the father of Financial Planning.   

 

Another guest lecturer was Richard Band, the editor of Personal Finance, the largest financial newsletter in the U.S. at that time.  Other lectures were John Dessauer, lecturer, author of Investor’s World, and expert on off shore mutual funds, Jim Kneasey, author of the Cambridge Hook, on charting commodities, a lecturer and expert on block currencies, other experts on gold mining shares and banking, Fred Newcomb, President of the No Load Mutual Fund Association, Alex Bove, an author and attorney who drew up trusts, and speakers from virtually every area of finances, including one on hard money assets given by myself.  In addition to doing a one-night stand at C.I.C.’s State Street Bank lecture platform, I offered these same lecturers the opportunity to speak to a larger audience by appearing on my one hour radio talk show on WKTP, Natick, Massachusetts, called ‘The Money School’. 

 

NOTE: The Rhode Island Education Department was more than fair by giving me credit for my worldly travel experience towards certification.  The Woonsocket, Rhode Island School Department was also more than fair in allowing me to go on active duty at times during the school year.

 

While Hal was incarcerated, his storage area was auctioned off.  Consequently, a great deal of the paperwork, video tapes and audio involving The Money School Of Boston, Inc.’s guests and programs cannot be located.

 

IV.

THE BUSINESS INNOVATOR

 

ENDORSEMENTS

EUGENE J. KEOGH, FATHER OF RETIREMENT PROGRAMS IN USA

LOREN DUNTON, FATHER OF FINANCIAL PLANNING INDUSTRY

 

ARTICLE ON TANGIBLES AND HARD MONEY ASSETS

GUNS, GOLD AND GROCERIES, THE 101 COURSE TO PROTECT YOUR FAMILY

 

Harold F. Chorney was the founder and president of Cumberland Investment Corporation, an international tangible investment firm then in its third decade of operation.  Cumberland specialized in silver dollars and coin-funded retirement plans.  Hal served as C.E.O. of Wescap Enterprises Ltd., the parent company.

 

Since 1968, Hal had directed the building of a very untypical rare coin company.  For example, Cumberland was a public firm, one of the few of its kind in the country, and had diversified holdings that included Canadian Gold mining properties.

 

Some of Hal’s industry-wide innovations included a gold and silver coin-funded IRA programs and a rare coin-funded Keogh program.

Hal wrote a column for the New England Appraiser’s Association while the owner of three different auction houses based out of Boston.  His expertise extended beyond his knowledge of rare coins and into other collectibles including paper money, stamps and fine art.

 

Pie-rats, Those Who Plunder You in Bankruptcy describes the dynamics of these “business years,” various financial movements and how they enhanced each other and changed the financial landscape in America.  Hal soon received the endorsements of the late Congressman Eugene J. Keogh, the Father of Retirement Planning in America and the creator of the Keogh Plan as well as that of Loren Dunton, originator of the financial planning movement in the United States.

 

V.

ADVOCATE FOR SELF-EMPLOYED AND SMALL BUSINESSMEN RETIREMENT PROGRAMS

 

AWARDS

In 1986, Congressman Edward J. Markey, MA issued a letter accompanying the attached certificate indicating that the flag of the U.S. was flown over the capital for the national efforts of Hal Chorney, Director of the Money School of Boston for his efforts advocating retirement programs and financial education.  

 

Back in 1962, Congressman Eugene J. Keogh authored H.R. 10, legislation which advocated for the small businessmen and self employed individuals.  Hal Chorney, Director of the Money School of Boston met with Congressman Keogh to lobby for the inclusion of hard money assets like gold and silver as being qualified for the “Keogh” program using pre-taxed dollars. 

I remember our first meeting.  I shook his hand.  He looked in the palm of his hand and said, “What is this?”  I said, “A gold sovereign.  He said, “It is dated 1907, the year I was born.”  I smiled and said, “Yes, I know, that King Edward.”

 

The congressman like my reasoning and agreed with me and efforts were made to change the law concerning placing hard money assets into these “non self directed” retirement programs.  Virtually every national financial institution had sought the endorsement of Congressmen Keogh and yet he endorsed me and my company. 

 

Subsequently, Hal met with Congressman Claude Pepper and other legislators that were introduced to him by Congressman Keogh.  Hal gave talks about placing gold and silver in retirement plans in several cities in Florida and elsewhere.  Soon afterwards Congress approved the “Golden IRA” which allowed individuals to invest in gold and silver eagle coins minted by the U.S. Government.

 

VI.

CONSUMER PROTECTION ADVOCATE

 

AWARDS  

  • Hal on Cover of IARFC Register

  • Congressional Award  (click on images to enlarge)

 

Hal received a myriad of awards from cities where he gave talks on protecting the consumer/investor.  Some of the award certificates are as follows: Atlanta, GA; Baltimore, MD; Indianapolis, IN; Miami, FL; Nashville, TN, New Orleans, LA; Portland, OR; Providence, RI; St. Petersburg, FL; and Tucson, AZ. 

 

Hal also received the Found Money Management Award from Lew Nason in Dallas, GA.

 

  He has also been commissioned a Kentucky Colonel, and there were other cities and groups of people that issued awards to Hal.  However many of them have been misplaced through the years.

 

VII.

FINANCIAL PRIVACY ADVOCATE

 

One of Hal’s passions has been to study the United States constitution and the Bill of Rights.  His writings for decades show that maintaining the privacy of Americans is a very difficult feat in this age of increasing scrutiny.  He is the founder of FPC, Financial Privacy Consultants which specialized in Nevada based corporations.  His contacts with domestic and international government leaders and those in the private sector gave him perspectives on new and proposed legislation and practices that could impact a citizen’s right to financial privacy.

 

VIII.

BANKRUPTCY REFORM ADVOCATE

 

Pie-rats, Those Who Plunder You In Bankruptcy shows how Hal’s company was petitioned into bankruptcy when his bank was taken over by FDIC, the Federal Deposit Insurance Corporation.  It shows how the legal system is rigged and the laws are written in favor of the banks and other special interest groups and not in favor of the bankrupt and that there is a need for bankruptcy reform. 

 

Because Hal ran out of money to pay attorneys, he had to defend himself in this rigged bankruptcy system.  Subsequent to a 22 year old bankruptcy, Hal and his friend Forrest Wallace Cato founded the National Center for Bankruptcy Accountability.   The website is www.nc4ba.org. NC4BA is an organization formed to place the bankruptcy system back on course through increased accountability and to provide services to qualified parties involved in the bankruptcy system.  Hal has limited this help to qualified Vietnam Veterans.

Much of the bankruptcy research and statistics have been supplied to Mr. Chorney by the National Center for Bankruptcy Accountability for inclusion in Pie-rats, Those Who Plunder You In Bankruptcy.

 

Appendices containing legal arguments and pleadings and other information from the Cumberland Investment Corporation Bankruptcy can be found on this website.

 

The first illustration shows a judiciary that turns a blind eye to justice in favor of the banks and other special interest groups.  The second illustration also shows how the judiciary violates the constitutional rights of those being plundered in bankruptcy such that lady liberty weeps for these violations of our Bill of Rights.

 

IX.

MEDIA PERSON

Hal is an accomplished speaker, writer and columnist.  Hal has given numerous talks to individuals and groups about tangible assets.  These talks range from full disclosure by a self employed small businessman, placing hard money assets into his retirement program such as the Keogh or IRA Program with pre-taxed dollars, to the other extreme of non disclosure of the purchase or sale of hard money assets by his client, thus preserving financial privacy with tangible assets which are bought or sold in an unregistered form.

 

Hal wrote a weekly column for Barron’s Financial Weekly.  One of the columns introduced to Barrons’s was a column on precious metals.  Hal wrote a monthly column for New England Appraiser’s Association, appeared in Wealth Magazine, Life Insurance Selling, Financial Services Advisor Magazine, The Inspirator  International, the IARFC Register, the Financial Planning Encyclopedia and other publications. 

 

Subsequent to being a keynote speaker at the worlds’ largest offshore conference held in Costa Rica, Hal appeared on the covers of the Duck Book Magazine of the American Association of Financial Professionals.  Hal also appeared on the cover of the IARFC Register in 2010.

 

Hal had a radio show on WKTP, Natick, Massachusetts called the Money School.  Every day Hal would ring a school bell to start the show where he had a myriad of guests, some nationally and internationally renowned, from the financial world.  This talk radio show revolved around the financial specialty of his guest and related questions from the audience.  As the show moderator, I often had to read public service announcements given to me.

 

Hal has appeared on national talk radio shows like WABC from NYC, KCMO from Kansas City, Missouri and others, where he fielded calls concerning the role of tangible assets for both those seeking financial privacy as well as those seeking the inclusion of tangibles into a fully disclosed retirement plan.

 

Hal appeared in Cumberland Investment Corporation infomercials on Satellite TV in the mid 1980’s and appeared on some local TV stations in the New York area with Congressman Keogh to promote tangibles in retirement programs.

 

X.

MILITARY MAN AND VIETNAM VETERAN

 

After graduating from Brown University, Second Lieutenant went to flight school at James Connolly Air Force Base in Waco, Texas followed by survival school at Stead Air Force Base in Reno, Nevada followed by his prime assignment to Dover Air Force Base in Delaware.  From Dover, Hal flew some 4,500 hours in cargo aircraft—the C-124 Globe master and the C-141 Star Lifter. 

 

In 1967, Hal left active duty but flew with the reserves out of Hanscom Field, Bedford, Ma.  Captain Chorney amassed about 6,000 flight hours all over the world, including some 37 missions to Vietnam. 

 

Hal is a lifetime member of the Vietnam Veterans of America and the Disabled American Veterans.  Hal was diagnosed as having 100 percent service connected disability for PTSD, post traumatic stress disorder.

 

Subsequent to a successful business career, Hal gave talks nationally concerning the Bill of Rights being abused especially concerning Bank Secrecy Laws and the loss of Financial Privacy in the United States and worldwide.

 

XI.

CONVICTED FELON AND FINANCIAL PLANNING HERO

 

First and foremost: The Financial Planning Hero.

 

On May 26, 1993, Hal was convicted of a false statement to an FDIC Institution.  Eastland Bank, Woonsocket, Rhode Island claimed that there were insufficient  assets to cover a $2,500,000 promissory note to Hal’s Company, Cumberland Investment Corporation.  Subsequent to three years of appeals, Hal was sentenced to serve a 27 month sentence at Allenwood Federal Prison Camp.  Hal’s sentence began in February 1996.  While incarcerated, he sustained a traumatic brain injury on December 28, 1996.  The basis of the 27 month sentence was the amount of shortfall to the alleged victim, Eastand Bank and their successor, FDIC of some $600,000.  Hal always claimed his innocence and that there was ample funding for the loan.  Hal filed several FOIA requests, (Freedom of Information Act Requests) and was stonewalled by government agencies as he exhausted his due process rights.  He even filed a Supreme Court Appeal while incarcerated.  If the objective of the government was to instill fear, they accomplished their mission.  Many financial planners having heard the Chorney story were quite fearful of being incarcerated.  They mostly were interested in how it was like to be in prison.  Consequently, Hal put a presentation together for financial professionals on How to Stay Out of Prison.  This was not the area of education that he wanted to be sought after and known for.   

 

On May 16, 2011 -- fourteen years after getting out of prison -- the Trustee in Bankruptcy, Jason D. Monzack, issued a Final Report indicating that over $35,000,000 in assets of the estate of Hal’s company had been “abandoned.” 

 

For those readers interested in legal aspects of the Chorney bankruptcy case, pleadings can be found by going to www.nc4ba.org.

 

XII.

PUBLISHED ARTICLES

 

Hal Chorney is on Facebook, LinkedIn and Twitter (@HalChorney)

 

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