Gary Michelson admits investment gains on teak farms

Dr. Gary Michelson has publicly admitted many times that he made a lot of money off his teak farms.This of course is contrary to what he's said in sworn legal documents to police and the district attorney. He lies to them and says he lost money even though he made millions and millions of dollars on the deals. He also promised to spend all of the $1.3M he got on his foundations but hasn't. From Forbes 2007.

http://www.forbes.com/lists/2007/54/richlist07_Gary-Michelson_LC7M.html

Temple U. grad studied medicine at Hahnemann (now part of Drexel U.). Made first fortune as a surgeon inventing spinal implants. Settled nasty intellectual property lawsuit with medical device maker Medtronic in 2005. Payoff: $1.4 billion. "I don't think I've spent one penny of that money." Set up 2 foundations: one supports scientific research, the other strives to save unloved pets. Says philanthropy funded by investment gains. Has planted 3.5 million teak trees in Costa Rica since 1999.

I was looking for some emails and found this from March 17, 2007.  I'm emailing a friend of Gary's.

"I just spoke to him (Gary). He was like "what is it Mary?" real sarcastic. I told him that Loftus was going to sue him for libel, slander, defamation, tortious interference with  his business. He said he 'would welcome the lawsuit.' He said 'Loftus is a very bad man'."

Loftus did indeed sue him for all these things and Gary instantly settled. Loftus did not take a penny. Gary actually owed Loftus money. Gary lied to the police, and everyone else, when he said Loftus embezzled and stole money. Gary knew that I knew the truth. I was there when he defamed Loftus to Boks, LAPD, Mayor's office.... Gary knew that I knew that Loftus didn't do that. Why then would Gary lie to me? Because he's crazy and delusional.


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