The Free Lakota Bank Conspiracy Theory

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(Editor’s note: I asked Gus Demos, the former sales director of Mulligan Mint, about what he thinks is really going on with the Free Lakota Bank.  Below is his theory on what he suspects really is going on.  I will be releasing more information about the Free Lakota Bank, but I thought this was a good overview to start with.  I know that this the one subject that Rob Gray does not want to discuss.)

In 2008 Rob solidified the URL for Free Lakota Bank This is even before launching AOCS, Mulligan Mint or any of his other entities.  What made this unique is there was no, and still is no physical location.  It is simply a PO Box, has ZERO to do with the Lakota people, Pine Ridge, or any physical location in South Dakota or any State for that matter.  Simply put, it’s a PO Box in South Dakota that Rob would clear out once a month, take the silver that was sent in, sell it, and live off the money.  ZERO loans are made out of this bank.

Instead of paying depositors interest & making loans to people at a higher rate of interest (simple S & L banking business model) Rob instead would live off depositors money & use other deposits to start his companies, in simple terms an embezzling Ponzi scheme.  No Bank, no loans, no tribe, no safe, no vault, just a guy in front of his computer buying a URL & going up once a month to clear out a PO Box.

After about a year, the silver was coming in to slow to the bank, so Rob then decided to open AOCS, the beauty of AOCS is it allowed Rob to start taking checks & bank wires.  See AOCS was the official Mint for the Lakota Bank, & the bank claims it “doesn’t touch federal reserve notes”.  Yes, instead Rob gets the Federal Reserve Notes (Your Cash) through AOCS, then from his same computer switches to your Lakota Bank Account & sends you an email saying there is silver in your account.

The silver is never bought, the silver is never minted.  It is simply spending money for David & Rob Gray.  Almost everything is under Davis Gray’s name.  Bank accounts, trusts, entities, etc.  Rob’s past is so bad he can’t get a credit card, open a bank account, or get approved for anything.

This all functioned fairly small time (six figure operation) until sometime in early 2012.  Rob who previously was running the bank, AOCS, & 8 other entities bogus entities had to take a job in the Ionizer business again because he was broke.   Then mysteriously he went from broke & struggling to make his 4 man payroll, to a $250,000 miracle.  A depositor must have came through out of thin air, Rob had landed the Hail Mary he’d been waiting a lifetime for.  Literally within a month 2 period after receiving the victims money he & his family took a 20,000 dollar European cruise vacation (safe to say the depositor doesn’t know) & Rob & David put 150,000 dollars into a new trust they created called SLV PROPERTIES.   The Grays were now had their very own building, strange that they would form an offshore trust to buy a piece of land with depositor money, that would imply fraud, embezzlement, money laundering, & a Ponzi.

In simple terms, Gray & his brother take in wires & checks through AOCS, never buy or mint the silver, vanish the money right away & buy assets under other trusts or entities & then tell depositors they have silver in their account.  The danger in this doesn’t require a Wharton business degree to acknowledge.  Gray now can bankrupt the Free Lakota Bank, & when depositors go to liquidate the banks assets there is nothing there to liquidate.

The deposits grew larger & larger the last year with all the attention that came from Ron Paul, Retail Partners, & affiliates.   Now what you have are not only depositor money being embezzled & laundered, but investor & partner money doing the same.  There is ZERO segregation, only Rob & David know where all the bodies are buried.  Offshore, airplanes, Mansions, cars, motorcycles, etc.   Its going to be a bloodbath with whomever is left holding the bag…..

A Ponzi works until more people exit then enter.  That’s why they last so long, the victims don’t know they are victims, until the end…


15 comments to The Free Lakota Bank Conspiracy Theory

  • roger

    Your X partner has moved in a very shallow world. My world was totally different.
    Your man would have had two bullets through head years ago if he had walked into my world. He is a very lucky man.

    • James

      Wow, pretty strong feelings for only knowing one side of the story. I think those who invest in Lakota may have an idea that like any business it may thrive or fail. If it ends up being a ponzi scheme, buyer beware?

  • Perry

    Because of my former ties to the Lakota Nation, the Free Lakota Bank had caught my eye. But, fortunately, something never sat right with me about it, and I never “joined” just watched from the sidelines to see what would transpire. Boy am I glad now that discretion ruled the day!

  • Josh

    It seems Free Lakota Bank is Robs little piggy bank, I have a feeling this is going to end up on that show American Greed LOL guess it goes to show if you dont hold it you don’t own it!

  • PdBallerina kind helped this bank/scheme out by giving it airtime on your didn’t check it out?? :-( Also why are they being allowed to conintue operating like this? You would think they would be shut down by now…

    • David Richardson

      Shutting it down, since it operates over two state lines [Texas and S. Dakota at least] may require the Federal government caring enough about it to take action.

      Several regulatory agencies were tipped off to Madoff but he continued for an amazingly long time before action was taken.

  • I remember hearing about the FLB when it came out years ago. It seemed a little sketchy at the time and now that has proven to be the case. It all goes back to the classic lesson in investing in Gold and Silver. Don’t invest in any metal that you can’t hold and take possession of yourself. PEACE!

  • Jon

    Sucks Chris. I know how it feels to have a vision taken in a time of great venture and voice. You have created a great awakening in our time for so many people. I truly hope you make into the history books. Shut Rob down and make sure he never steals someone else’s vision again. In this world there is no team there is only I.

  • tyronedeblanco

    Could it be a ponzi?? I wouldnt rule it out…..that being said, I got my silver via the TSP mint / MM. It looks great and it took less than a month to get it in hand. So far MM has produced what i ordered in a timely fashion considering the market for silver atm. I will be cautious going forward since all these acusations are flying around, but i thought id give a testimonial on MM’s performance for me. Either side could be lying or incorrect, so take my account for what it’s worth. The LE sent / ant coins are starting to hit ebay as of two days ago, the launch was may the 6th i believe.

  • Maxwell Smart

    It’s a miracle this con-man isn’t in prison. But then again, there seems to be no rule of law where “banksters” are concerned.

    Second, it’s a good thing no mafia money was involved (he’d better hope not). Otherwise, he’ll be found floating down the Mississipi – headless!

  • Indeed, when Rob contracted me to develop the online banking software for Free Lakota Bank in 2009, I was trying to discuss the various means of implementing time-deposit contracts so that he could make the loans he claimed he wanted to make. He had NO INTEREST in time-deposit contracts. It seemed he felt that was just extra, unnecessary work. Examples like that are the reason I started going around stating my opinion that FLB, AOCS, and the various other entities should not just be Rob Gray’s toy companies, but that these entities should have boards who would oversee their activity. At that time, both Rob and I had extensive contacts with the best minds in currency including Edwin Viera, G. Edward Griffin, and Michael Badnarick. Rob seemed offended at the idea that he should not be the sole captain at the helm, and ultimately, with the software mostly ready to roll out, Rob decided to claim it took too long to develop and we never launched my version of the software.

  • Joe

    Let Rob Gray prove with tangible evidence there are many accounts with real silver sitting in them for his clients. If he cant, there’s nothing left to say about any of this people.

    • Alex

      LOL, the only way to get the “tangible” evidence is to personally (not Rob) count the silver in Rob’s bank/mint and subpoena the bank records (not from Free Lakota Bank, lol, but the legitimate FDIC banks Rob uses for his companies: Free Lakota Bank, Mulligan Mint, and AOCS {American Open Currency Standard}). You must subpoena the PayPal records for his companies as well because Rob gets a lot of receivables from there. I certainly would not just trust his QuickBooks or any other “in house” accounting records for they can be and probably are “cooked”.
      The amount of money that legitimate banks can lend is directly affected by the reserve requirement set by the Federal Reserve. The reserve requirement is currently 3 percent to 10 percent of a bank’s total deposits. For example when a bank gets a deposit of $100, assuming a reserve requirement of 10 percent, the bank can then lend out $90.
      In Rob’s case his “bank” is not regulated by the Federal Reserve so he does not have to keep a reserve at all. I bet all the “loans”(that will not be paid back) from his “bank” are made to himself to support his lavish life style and also to put through his companies SLV Properties (Silver Properties) to buy the Mulligan Mint building and AG Logistics (Silver Logistics) to buy his mansion.
      My guess is that Rob spent the majority of money from investors, depositors and coin orders for his life style and since there is not a good profit margin in the coin business there is no way he will be able to pay back all the money that he used. The only way he can continue is to find more investors, depositors and take more orders for his coins and fill them very late or not at all. There is no way out for him. It is just a matter of time before the whole thing collapses. A true Ponzi scheme. GREAT JOB ROB(BER)!!!
      I would not want to be him in a few months if you know what I mean. You better enjoy yourself now Rob!

  • Lmo

    FYI, emailed RG and advised I wanted my deposit back. My decision was based on my own conversation with marching monkey or whoever I talked to at FRB that led me to believe several things that do not appear to be accurate.

    Received deposit back in full less shipping.

  • […] and a personal contact with a member of the Free Lakota Bank [Rob Gray] because they appear [on more research] to NOT meet our needs. I Wish everyone success in alternative finance as we stop feeding the […]

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