(UPDATE – Feb. 4) CHICAGO (FAXX/jGLi) – New allegations have surfaced since Eminiano A. “Jun” Reodica was arrested at the Los Angeles International Airport in November last year.
Reodica, who was president of the Grand Wilshire Group and Grand Chevrolet of Glendora, disappeared in July 1988 when his business began to go bankrupt. State investigators found his company defrauded banks and individual investors of at least $100 million.
He fled the U.S., went to the Philippines and then to Australia where he met his current wife, Letty Coscoluella. He changed his name to Roberto A. Coscoluella Jr. when he became an Australian citizen.
When he was arrested at the Los Angeles International Airport in California during a stopover, he claimed he was on his way to Canada to attend a wedding ceremony as a sponsor.
But one of Reodica’s mostly Filipino Australian fraud victims who read an earlier story by this reporter disputed Reodica’s claim and said this was merely a ruse.
Ranin N. Lopez, a Filipino Australian electrical engineer, told this reporter in an email, “I stand firm that Roberto and Letty Coscoluella were actually running away from Australia to Canada via United States at the time that they were arrested by the FBI at Los Angeles International Airport.
“The approval of ESTA (electronic system for travel authorization) was the final step that may have added to the decision of Roberto and Letty (Coscolluela) to go to U.S. first (Roberto being armed with a new name & passport), thinking he will walk smoothly past the immigration officers.
“One mistake he did make was failing to note that he would be subjected to new mandatory fingerprinting of new entrants to the US! I wonder what kind of things he did to himself to be unnoticed or did he still maintain his low profile feature with arrogance!”
Lopez said he credits a young Filipino lawyer for inviting a group of Roberto’s aggrieved former clients on May 12, 2012 at a house in Springfield Lakes, a southwest suburb of Brisbane.
“All of us had serious problems or had been victims of Roberto, whereas up until that point, I thought that I was the only one having these kinds of problems with Roberto.
“As I said before, our group with the perseverance of our intelligent lawyer launched court actions against the couple, Roberto and Letty- as well as a man named Richard Gardner, who fronted for them in the illegal “Richard Gardner Tax Agency” business. The business was closed down with the help of the Tax Practitioners Board last year when our group reported to them what was happening.”
He said late last year, as each of their cases was advancing closer to trials (and judgments already being secured on a number of them), the couple abandoned their residence at Carseldine (a suburb north of Brisbane).
Lopez said nobody knew where they went and it appears that not even their lawyers knew they had gone.
“I heard from others in our group that, before leaving, they had witnessed shredding of all of their business records.”
Lopez also said his lawyer, on Jan. 29 (Australia time), won a judgment against the couple and their company, R.C. Insurance Pty. Ltd., the amount of AUS $360,000. This means the couple’s home can now be sold at public auction to satisfy the court judgment.
Coscoluella was supposed to testify for the missing quarter million dollars of Coscoluella’s client’s money that disappeared from his bank accounts. The Supreme Court ruled during the trial that the Coscoluellas were engaged in fraud and were ordered to return all the money plus interest.
PREFERRED EMAIL DELIVERY SERVICE
In an email which Lopez provided to this reporter, it showed that two weeks prior to Coscolluela’s arrest, Roberto sent an email to Lopez’s lawyer instructing him to stop his clients from serving court documents to his home. Roberto wrote: “We can agree that we need only serve you via your email address and that this would constitute sufficient and valid address and valid service.”
Lopez recalled he first met Coscoluella in the later part of 1989 or early part of 1990 at a gathering of Filipinos in Cairns in northern Queensland as a National Mutual (insurance) Agent, specializing in managing superannuation funds for retirees.
Lopez met Coscoluella again in 1992 at his son’s christening in his apartment at Brisbane’s suburb of Coorparoo and took a life insurance plan from him but withdrew it later.
When he bought an investment property thru Better Mortgage Management Pty. Ltd. affiliated with Coscoluella’s R.C. Insurance Pty. Ltd., Coscoluella offered to manage his property with Letty Coscoluella as secretary of his business. But he later decided to sell the property when he noticed that expenses for the property were getting bigger for unexplained reason.
After selling the property, Lopez noticed that the Coscoluellas put a $40,000 lien on his property, which Coscoluella says he owes him. Although he was able to obtain a clear title to the property, Coscolluela still threatened him for his alleged unpaid $40,000 debt.
“Jun” Reodica, alias Roberto Coscoluella, arrived in Los Angeles in the early 70s and started a job as a busboy. In four years, he became a vice president of a car dealership in suburban Encino. He would later put up a car financing loan company to fund his own Grand Chevrolet car dealership that became part of his Grand Wilshire Group (GWG) of Companies and extend loan to car buyers.
After Reodica vanished, the U.S. Attorney of Los Angeles charged eight former employees of Reodica with 17 counts of fraud on credit lines amounting to $300-million.
The trial for the 68-year-old Reodica was originally set for January 29, but was moved to March 12, 2013.