Clayton attorney and American Anglican bishop Marty Sigillito stands accused of running a $45-million Ponzi scheme. He's currently under federal investigation. For more, see our cover story, "White Collar Crime," on newstands this week.
For years, Marty Sigillito collected millions, supposedly to invest with a British real-estate developer. But now, investors across the nation, including some from the tony Racquet Club of St. Louis, are wondering: WHERE DID MY MONEY GO?
Below are some "answers" the bishop provided to investor (and Kirkwood native) Phil Rosemann, who put in $15 million and hounded the bishop for an accounting last spring.
April 8, 2010: SORRY -- IT WAS TAX SEASON
"background data requested is being put together, as I have
said, in the UK. Now that tax season is ending there, it should be with
April 27: IT'S SOMEBODY ELSE'S FAULT
"I am scheduled to bring together documents and data which will provide exactly that level of clarity to which all lenders are entitled....I will do my very best to re-earn both your trust in the projects and your confidence in those involved. Again, I very much regret that I relied too long on others to get this done."
April 30: NEXT WEEK IS BETTER
"I will bring with me copies of all relevant documents when I return. . . . and will have everything, as promised, next week."
May 5: NEXT-NEXT WEEK IS BETTER
"all documents related to land/options/planning have been gathered....copies of that material" are "on their way here for you" and the "financial data are being gathered from multiple sources and will be in [your] hands no later than next week."
May 14: I'M OUT OF TOWN
"Disclosure of assets is not a problem (once I get back)."
May 19, 2010: NOW I'M IN ISRAEL
"my refunding efforts have borne fruit here in the middle east. I have some very likely sources who are on the verge. I am told that I will have decisions shortly....I will have a time line for that soon. I know the urgency of the need for cash (I am in the same position, as you know.) I am doing my best to have some hard data on all of this as soon as possible. Nothing has higher priority."
Then finally, Sigillito wrote the below message (from the e-mail account of his attorney, David Helfrey), apparently to all of his investors: