The Continuing Joe Zada Saga

[wbhorseusa]

Wow, I just somehow came across this article on Dovers World. Holy smokes, has anyone else heard about this? Zada Enterprises LLC somehow allegedly swindled millions of dollars from many people in the dressage community and equestrian community at large. How come this hasn't been discussed in Dressage Today or any of the other publications? How come this hasn't been discussed at all? Is this new?

http://doversworld.com/blog/2009/06/as-dovers-world-turns-the-continuing-joe-zada-saga/

I have also been reading up on it on Central Equine, its very shocking, and unfortunately, all too believable. :(

So much for the Zada Cup.

[Regal Grace]

Would that be the same Joe Zada that owns or owned David O'Connor's Olympic mount Custom Made?

If so what has become of the CM? Hopefully, he is with the O'Connor's

[Classical DQ]

Wow! It is interesting that it has seemingly been kept so quiet. I guess it is because the people involved felt that they were close friends and want to give Joe the benefit of the doubt. How sad for the parties involved!! Sad to lose the money but also sad to lose the trust and respect for a dear friend.

[ridgeback]

I don't know Zada but I'd say consider the source.

[Bogey2]

ridgeback, if you did not read the article then your comment on consider the source is based on ignorance. I suggest you read it.
http://www.centralequine.com/article.aspx?article=62

[ridgeback]

ridgeback, if you did not read the article then your comment on consider the source is based on ignorance. I suggest you read it.
http://www.centralequine.com/article.aspx?article=62

I read it what is your point?

[Valentina_32926]

ridgeback, if you did not read the article then your comment on consider the source is based on ignorance. I suggest you read it.
http://www.centralequine.com/article.aspx?article=62

Ridgeback - this link is better than the OP's as it provide more information (a better pointer as original was to Dover's blog not reporters article).

I'd like to see a synopsis (dated) account of events with amounts - amounts "loaned", amounts paid back, etc. to see if Zada is paying anyone back at this point in time. Kind of surprised the big news stations (ABC, NBC) are not following this - guess they'd rather focus on "real" ???? news of M.J's death or Obama killing flies. :lol:

[Bogey2]

if you read it then are you saying RD is not to be a trusted source? It seems he is not the only one who takes issue with Zada.

[poltroon]

Would that be the same Joe Zada that owns or owned David O'Connor's Olympic mount Custom Made?


Yes.

[Equibrit]

http://docs.google.com/gview?a=v&q=cache:4_XrfU0WjowJ:entertainmentgroupinfo.com/images/6th%2520Report%2520November%252013%25202007.PDF+Jo seph+Zada&hl=en&gl=us
Page 29

http://docs.google.com/gview?a=v&q=cache:IcpRBSFAPUkJ:www.websupp.org/data/EDMI/2:05-cv-70013-155-EDMI.pdf+Joseph+Zada&hl=en&gl=us

It appears that Mr Zada has a track record in these sorts of financial goings on.

I can't think why anybody would lend him money.

[Mardi]

I read the Central Equine acccount.

While an interesting story, it remains unfortunate for all concerned.

As for it not being covered in the mainstream dressage media...controversary
is not their forte.

Remember the hoo-rah about Leslie Morse years ago, and her decision not to train with the USET team, even though she was a member, while competing in Germany (the WEG at Aachen, I believe). USEF even flew someone over to calm the waters.

If I recall correctly, only Ken Braddick covered it.

[5leggedstallion]

Gossip is such good reading is it not? Seeing as Ms. DeRosa, Robert Dover and Ron Davis obviously have a one sided opinion I thought it only fair that anyone following this garbage at least have knowledge of Mr. Zada's Official Response. (http://zadaresponds.com)

[yaya]

From The website linked above:
why is it that I can not receive a chance to give voice to my side of the circumstances?

Gee, if he's got his own website why are there no facts on it? All he's doing is the same he's claiming they are doing - talking trash about someone else. Sure doesn't make him look any better.

[Ghazzu]

Gossip is such good reading is it not? Seeing as Ms. DeRosa, Robert Dover and Ron Davis obviously have a one sided opinion I thought it only fair that anyone following this garbage at least have knowledge of Mr. Zada's Official Response. (http://zadaresponds.com)


How unfortunate that his defender has to appear out of the blue with an attempt at a risque screen name.
Doesn't do much for the credibility, even if it is incidental.

[ise@ssl]

Another story that proves the old saying - "If it seems like too good of a deal - it probably is - so don't put your money there". Also NEVER do business with friends WITHOUT detailed written agreements and contracts. Banks lend money - friends shouldn't do it.

[ridgeback]

Greed always bites you in the butt doesn't it. I hope a lesson learned for all the parties involved.

[MikeDonaldson]

Joe Zada and I have enjoyed a fifteen year friendship which included both business and social interactions. We share many common friends and interests. In early 2008, I over reacted to the global economic crisis in a very regrettable manner. I was unkind to my friend. I contacted Joe in the spring of 2009. He is a true gentleman, and graciously accepted my sincere apology. His reaction in this matter speaks very highly of his character. He is a kind, understanding, dignified man, wise in many ways. It requires a big person to forgive and move on. Joe Zada is that big person. I have learned from Joe to be calm, to believe, to be patient, and that a rational approach to life’s temporary problems results in the best outcome for all concerned. I look foreward to our continued friendship in future years.

Mike Donaldson

[ise@ssl]

What you've said certainly applies to friendships and relationships. But when it comes to investments or loans - get everything in writing; make sure the person is licensed and get your principal into an insured investment as soon as possible. Riding the Roller Coaster is a thrill but it shouldn't be the thrill you seek with your money.

[ridgeback]

Joe Zada and I have enjoyed a fifteen year friendship which included both business and social interactions. We share many common friends and interests. In early 2008, I over reacted to the global economic crisis in a very regrettable manner. I was unkind to my friend. I contacted Joe in the spring of 2009. He is a true gentleman, and graciously accepted my sincere apology. His reaction in this matter speaks very highly of his character. He is a kind, understanding, dignified man, wise in many ways. It requires a big person to forgive and move on. Joe Zada is that big person. I have learned from Joe to be calm, to believe, to be patient, and that a rational approach to life’s temporary problems results in the best outcome for all concerned. I look foreward to our continued friendship in future years.

Mike Donaldson

Class Act Mike...:D

[Event Horse]

Well, this has now caught the media's attention. Detroit's TV station WDIV reported on their 11 pm Sports News that former Detroit Red Wing Sergei Federov filed a multi-million dollar lawsuit in Wayne County today against Mr. Zada. The story isn't on their website yet.

[Bogey2]

http://blog.mlive.com/snapshots/2009/07/sergei_fedorov_suing_ex_busine.html

[rivenoak]

From the Freep this a.m.:

http://www.freep.com/article/20090722/NEWS05/90722108/Ex-Wing-Sergei-Fedorov--Adviser-swiped--43-million

[ise@ssl]

Well I don't believe I'm going out on a limb here to say there certainly is a PATTERN. And a very similar "business" plan.

[Equibrit]

Just give the happy little chappy your money and let him play with it ?